Progress Q3'24 Tops High End of Estimates Expects to Close ShareFile Acquisition in Fiscal 2024 BURLINGTON, Mass., Sept. 24, 2024 (GLOBE NEWSWIRE) -- Progress (Nasdaq: PRGS), the trusted provider of AI-powered infrastructure software, today announced financial results for its fiscal third quarter ended August 31, 2024. Third Quarter 2024 Highlights1: Revenue and non-GAAP revenue of $179 million increased 2% year-over-year on both an actual and a constant currency basis. Annualized Recurring Revenue ("ARR") ...

Group 1 - Analysts project Progress Software (PRGS) will announce quarterly earnings of $1.14 per share, a 5.6% increase year over year [1] - Revenues are expected to reach $175.75 million, indicating no change compared to the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the past 30 days, reflecting analysts' reassessment of their projections [1] Group 2 - Revenue from Services is estimated at $18.67 million, a decrease of 3.2% from the prior-year quarter [4] - Revenue from Maintenance is forecasted to reach $103.43 million, indicating a year-over-year decline of 1.7% [4] - The combined estimate for Revenue from Maintenance and Services is $122.10 million, reflecting a change of -1.9% from the prior-year quarter [4] Group 3 - Revenue from Software Licenses is projected at $54.07 million, representing a year-over-year increase of 7% [5] - Progress Software shares have changed by +0.2% in the past month, compared to the Zacks S&P 500 composite's +1.3% [5] - With a Zacks Rank 3 (Hold), PRGS is expected to closely follow overall market performance in the near term [5]

Core Insights - Progress is hosting the MarkLogic World Tour US from September 23-25, 2024, focusing on the future of data, generative AI, knowledge management, and data visualization [1][2] - The event will feature nearly 20 sessions, workshops, and roundtables aimed at exploring the business value of generative AI and addressing data challenges [2][3] - A diverse lineup of industry leaders and experts will share insights on complex data integration and the evolving landscape of data and AI [3] Company Overview - Progress is a provider of AI-powered infrastructure software, enabling organizations to develop and manage responsible AI applications [5] - The company supports over 4 million developers and technologists across hundreds of thousands of enterprises [5] Event Details - The MarkLogic World Tour will take place at the Bethesda Marriott in Maryland, with registration currently open [1][4] - Attendees will have opportunities to collaborate with peers and learn from Progress customers and partners about leveraging data for business initiatives [2][3] Technology Focus - The Progress MarkLogic platform integrates multi-model data management with real-time search and semantic capabilities, providing a secure foundation for generative AI solutions [3] - The platform's architecture enhances large language models (LLMs) with domain-specific knowledge to improve response accuracy and democratize information access [3]

Progress Software Today PRGS Progress Software $58.16 +0.17 (+0.29%) 52-Week Range $48.00 ▼ $60.33 Dividend Yield 1.20% P/E Ratio 35.46 Price Target $63.50 Add to Watchlist Progress Software Co. NASDAQ: PRGS provides software solutions that enable enterprises to design, develop, deploy, automate, and manage business applications. Its products are focused on helping organizations accelerate their digital transformation, enhance user experiences, and modernize their IT infrastructure. Its tools and architectu ...

Progress Software's (PRGS) shares gained 2.49% and closed at $57.62 on Sept. 10. The upswing can be attributed to its plan to acquire ShareFile for $875 million. PRGS shares have gained 14% in the past three months outperforming the Zacks Computer – Software industry's decline of 4.4% and the broader Zacks Computer & Technology sector's decline of 6.4%. ShareFile specializes in AI-driven, cloud-based document collaboration services for various industries, including business, finance, healthcare, and constru ...

BURLINGTON, Mass., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Progress (Nasdaq: PRGS), the trusted provider of AI-powered infrastructure software, today announced that it will release financial results for its fiscal third quarter of 2024 after the market close on Tuesday, September 24, 2024. The company's third quarter of fiscal year 2024 ended on August 31, 2024. Investor Contact: Press Contact: Michael Micciche Erica McShane Progress Software Progress Software +1 781-850-8450 +1 781-280-4000 Investor-Relations@p ...

BURLINGTON, Mass., Sept. 09, 2024 (GLOBE NEWSWIRE) -- Progress (Nasdaq: PRGS), the trusted provider of AI-powered infrastructure software, today announced it has entered into a definitive agreement to acquire ShareFile, a business unit of Cloud Software Group, Inc., providing SaaS-native, AI-powered, document-centric collaboration, focusing on industry segments including business and professional services, financial services, healthcare and construction. "Businesses today need to enhance their effectiveness ...

Semaphore 5.10 increases user productivity with an AI-powered tool that simplifies and accelerates the creation of semantic knowledge models to streamline decision-making processes BURLINGTON, Mass., Aug. 27, 2024 (GLOBE NEWSWIRE) -- Progress(Nasdaq: PRGS), the trusted provider of AI-powered infrastructure software, today announced the latest release ofProgress® Semaphore™, its metadata management and semantic AI platform. Building on existing knowledge management capabilities, the Semaphore 5.10 platform r ...

BURLINGTON, Mass., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Progress (Nasdaq: PRGS), the trusted provider of AI-powered infrastructure software, today announced that the Securities and Exchange Commission's Division of Enforcement (SEC) has concluded its fact-finding investigation into the MOVEit vulnerability. The SEC has notified Progress that it does not intend to recommend an enforcement action against the company at this time. As previously disclosed, Progress received a subpoena from the SEC on October 2, 20 ...

New offering delivers efficiency, speed and trust in even the most complex IT environments "Speeding the delivery of critical applications while meeting security and compliance requirements is a must for every business. With today's release, we are extending our customers' ability to do this and much more," said Sundar Subramanian, EVP & General Manager of Infrastructure Management at Progress. "Chef Courier helps to seamlessly unite people, tools and workflows by streamlining critical IT processes. Along w ...