Welcome to our dedicated page for Progress Software (DE) news (Ticker: PRGS), a resource for investors and traders seeking the latest updates and insights on Progress Software (DE) stock.
Progress Software Corporation (Nasdaq: PRGS) is a global leader in providing software solutions that simplify the development, deployment, and management of business applications. Headquartered in Bedford, MA, the company offers a comprehensive suite of products designed to operate on-premise, in the cloud, on any platform, and on any device with minimal IT complexity and low total cost of ownership.
Progress' flagship product, OpenEdge, powers applications for over 400,000 end-user customers globally and more than 1,400 ISVs (Independent Software Vendors). The company also offers a variety of other robust products, including Chef, Developer Tools, Kemp LoadMaster, MOVEit, DataDirect, WhatsUp Gold, Sitefinity, Flowmon, and Corticon. These tools are designed to enhance application development, business continuity, data connectivity, network performance, and IT infrastructure management.
Progress derives revenue through perpetual licenses, term licensing models, and subscription-based models for its cloud-based offerings. The majority of its revenue comes from the United States, with significant additional revenue streams from Canada, EMEA (Europe, Middle East, and Africa), Latin America, and the Asia Pacific region.
Recent Achievements and Partnerships:
- In March 2024, Progress announced a strategic partnership with Veeam® Software to provide enterprise-ready cybersecurity solutions, combining Progress' Flowmon® Anomaly Detection System (ADS) with Veeam’s Data Protection and Ransomware Recovery capabilities.
- Flowmon ADS was recognized as a Technology Leader in the 2023 SPARK Matrix™: Network Detection and Response (NDR) report and won gold in the 2023 Globee® Cybersecurity Awards.
- In May 2024, Progress released the latest versions of Progress® Telerik® and Progress® Kendo UI®, enhancing AI integration, design-to-code productivity, and accessibility features across its .NET and JavaScript UI libraries.
Progress' continued innovation and strategic alliances underline its commitment to providing top-tier solutions that address modern IT challenges. Over 4 million developers and technologists across hundreds of thousands of enterprises depend on Progress to enhance their technology landscapes and drive business success.
Progress announces that Build.One, a longtime customer, has achieved a 90% reduction in web app development time using Progress Corticon.js, a serverless rules engine. This integration allows Build.One to implement complex business rules without coding, improving user experiences and response times. The platform's UI command response time increased by 98%. With over 1,700 independent software vendors relying on Progress, the company emphasizes its commitment to accelerating business application development.
Progress (NASDAQ: PRGS) has announced the launch of MOVEit 2021.1, enhancing its Managed File Transfer (MFT) software to better support Web Content Accessibility Guidelines (WCAG) 2.1 compliance. This update aims to improve accessibility for users with disabilities, essential for ethical and business reasons. Key features include a new MySQL database, updates to maximum running tasks for enterprise workloads, and support for embedded images in HTML emails. MOVEit has been recognized as a Gold Medal winner for two consecutive years in the Managed File Transfer Data Quadrant Awards.
Progress (NASDAQ: PRGS) has launched the new Fiddler Jam, a secure troubleshooting solution designed for support teams to resolve customer issues effectively and efficiently. This tool allows teams to capture HTTP(S) logs, console logs, and screenshots, facilitating faster problem-solving, reducing issue resolution time by half. Key features include video recording of user sessions, event capture, and sensitive data masking. The introduction of Fiddler Jam aims to enhance customer satisfaction and streamline support processes by providing essential insights directly from the end user environment.
Progress (NASDAQ: PRGS) announced that the German fashion brand Tom Tailor selected its Sitefinity Digital Experience Platform to enhance its ecommerce capabilities in response to the COVID-19 pandemic. By partnering with Vareo, Tom Tailor migrated its site to Sitefinity, creating a unified content and commerce platform. Within 10 days of launch, the ecommerce site surpassed its top brick-and-mortar store by 10% in earnings, and SEO scores increased by 71%. Additionally, the marketing team's efficiency improved, reducing agency costs by 70%.
Progress (NASDAQ: PRGS) expanded its partnership with Proginov, a leading ERP provider in France, enhancing its offerings with OpenEdge RDBMS and Telerik technologies. Proginov's ERP solution focuses on data management, protection, and user experience, aiding over 1,300 organizations. With 25 years of experience and nearly 300 employees, Proginov integrates OpenEdge capabilities, such as real-time data replication and encryption, supporting 24,000 concurrent users. Both companies emphasize their long-standing collaboration as key to Proginov's market leadership.
Progress (NASDAQ: PRGS) will host Progress Accelerated ’21, a virtual partner event on October 12-13, gathering over 250 global partners. The event will feature keynotes, breakout sessions, and networking opportunities focused on building future applications.
Attendees will learn about the Progress Accelerate Partner Program, designed to enhance partner effectiveness and success with various levels of support. The program has received a 5-Star rating in CRN’s 2021 Partner Program Guide.
Progress (NASDAQ: PRGS) reported strong Q3 2021 results, with revenue of $147.4 million, up 34% year-over-year, and non-GAAP revenue reaching $152.6 million, reflecting a 38% increase. Diluted earnings per share rose to $0.70 from $0.53, marking a 32% growth. The company also signed an agreement to acquire Kemp for $258 million. Progress raised its full-year revenue guidance to $520 - $524 million and EPS to $1.56 - $1.58, showcasing confidence in its growth strategy.
Progress (NASDAQ: PRGS) announced the acquisition of Kemp for $258 million in cash, expected to close in October 2021. The acquisition aims to enhance Progress' offerings in Application Experience Management by integrating Kemp's solutions, known for optimizing application performance across cloud environments. This strategic move is set to boost recurring revenue, increase cash flow, and create shareholder value. The deal aligns with Progress' total growth strategy, emphasizing complementary technologies and robust customer bases.
Progress (NASDAQ: PRGS) has released an updated version of its network monitoring software, WhatsUp Gold, which features enhanced usability and security improvements. Key updates include log management archiving, allowing businesses to adhere to compliance requirements and improve security audits, and support for OpenID Connect for user authentication across applications. Additionally, the software now supports Cisco Meraki devices and Microsoft Edge, addressing the needs of modern network administrators. These enhancements aim to optimize network monitoring and reduce troubleshooting times.
FAQ
What is the current stock price of Progress Software (DE) (PRGS)?
What is the market cap of Progress Software (DE) (PRGS)?
What is Progress Software Corporation's core business?
What are some of Progress Software Corporation's key products?
How does Progress generate revenue?
Where is Progress Software Corporation headquartered?
What recent partnerships has Progress announced?
What recognitions has Flowmon ADS received?
What recent releases has Progress made in 2024?
What regions contribute significantly to Progress' revenue?
How many customers rely on Progress' OpenEdge-based applications?
How many developers and technologists depend on Progress?
