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 (NASDAQ: PRGS) recently announced the winners of its global hackathon, The Worthy Web, which ran from April 7 to May 24, 2021. The event attracted 1,200 developers from 83 countries, yielding 52 innovative projects aimed at benefiting humanity. Participants competed for $40,000 in cash and prizes across nine categories. The winning projects included applications focused on blood donation, environmentalism, and corporate social responsibility, demonstrating Progress' commitment to innovation and community engagement.
Progress (NASDAQ: PRGS) has expanded its Women in STEM scholarship series to India, introducing the Progress Software Akanksha Scholarship for Women in STEM, offering a $2,000 renewable scholarship for women pursuing degrees in computer science and related fields. This addition raises annual contributions to over $30,000. The company also announced the 2021 recipient of the Mary Székely Scholarship, Gavriela Tejedor Meyers, who will study at Wesleyan University. These initiatives highlight Progress's commitment to supporting women in technology both in the U.S. and globally.
Progress (NASDAQ: PRGS) announces that its MOVEit file transfer solution has achieved major recognition in G2’s Summer 2021 Grid Report, named a top Leader in Managed File Transfer with 21 awards including Easiest to Use and Best ROI. MOVEit also secured a Gold Medal at the SoftwareReviews Data Quadrant Awards for its exceptional user ratings. The solution, noted for ease of deployment and reliability, responds to increased electronic data exchange demands during the COVID-19 pandemic, ensuring secure and compliant data handling.
Progress (NASDAQ: PRGS) will host the Exceed DXpectations Masterclass, a free two-day virtual event for experience makers on June 29-30, 2021. Industry leaders from organizations like the World Health Organization and National PTA will discuss strategies for digital transformation and enhancing user experiences. Key topics include leveraging digital experiences, future of search, and maximizing engagement. The event aims to equip participants with insights to create superior digital experiences in a post-COVID world.
Progress (NASDAQ: PRGS) reported strong Q2 2021 results, exceeding revenue and earnings guidance. Revenue reached $122.5 million, a 22% year-over-year increase, with Non-GAAP revenue at $129.2 million, up 26%. Annualized Recurring Revenue (ARR) was $437 million, reflecting a 23% increase. Despite a 19% drop in diluted EPS to $0.30, Non-GAAP EPS rose 30% to $0.82. The company announced a $250 million share repurchase program and raised its full-year guidance, anticipating revenue between $503-509 million.
Progress (NASDAQ: PRGS) announced enhanced digital marketing capabilities in the latest release of Progress® Sitefinity Insight, a SaaS analytics and optimization system. These updates aim to support marketers adapting to the post-COVID landscape, providing real-time data for personalized campaigns. Key features include advanced conversion attribution modeling, lead scoring rules, and audience intelligence. Alongside Sitefinity Insight, Progress also introduced simplified domain management in Sitefinity Cloud, a PaaS that improves operational efficiency.
Progress (NASDAQ: PRGS) has announced that it will recognize Juneteenth as an annual paid holiday for all U.S. employees, starting June 18, 2021. This decision reflects the company's commitment to diversity and inclusion, emphasizing the need for ongoing efforts towards equity and justice in America. Dr. Shirley Knowles, Chief Inclusion and Diversity Officer, highlighted the significance of this day in celebrating Black culture and achievements. The company supports diversity through various initiatives, including Employee Resource Groups and partnerships with organizations promoting social justice.
Progress (NASDAQ: PRGS) announced significant recognition as a leader in DevOps and DevSecOps from prominent analysts including GigaOm, Kisaco Research, and Constellation Research. These accolades highlight Progress's success post-acquisition of Chef in enhancing its product portfolio. Notably, Chef Compliance garnered acclaim from GigaOm for its continuous compliance capabilities. This acknowledgment reflects customer confidence and positions Progress favorably amidst ongoing digital transformations.
Progress (NASDAQ: PRGS) will release its fiscal second quarter financial results on June 24, 2021, after market close. The quarter ended on May 31, 2021. A conference call will follow at 5:00 p.m. ET to discuss these results. Interested parties can join the call via investors.progress.com or by dialing 800-458-4121, with a passcode of 3588537. Archived materials will be available post-call on the Progress Investor Relations page.
Progress (NASDAQ: PRGS) announced that Mark Troester, VP of Strategy, will speak at the DesignOps Global Conference on June 10, focusing on bridging the gap between designers and developers. The theme for this year’s conference is “Accessibility & Inclusivity – Design For All”. Troester will share insights on DesignOps and best practices to improve collaboration and efficiency. In addition, he will participate in a panel discussing inclusive brand and user experiences. The event is virtual, accessible to pass holders at designops-conference.online.
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