Progress Software Corp (DE) - PRGS STOCK NEWS

Progress (Nasdaq: PRGS) has announced the early-access release of MarkLogic Server 12, featuring powerful new generative AI capabilities. This update significantly enhances the platform's ability to integrate AI into enterprise applications, offering:

1. Native vector support for improved similarity searches
2. BM25 relevance ranking for better document ranking
3. Graph shortest path functionality for optimized recommendation systems

The release also introduces MarkLogic Flux, a new application for enhanced data movement and transformation. These improvements aim to double the accuracy of AI responses while simplifying the development of secure, AI-enhanced applications. The MarkLogic platform now provides a more flexible Retrieval Augmented Generation (RAG) pattern, allowing enterprises to ground LLM models in their private data for fact-based query responses.

Progress Semaphore, a metadata management and semantic AI platform, has been named the Leader and Gold Medalist in Info-Tech Research Group's 2024 Metadata Management Data Quadrant for the fourth consecutive year. The platform achieved an impressive 8.4/10 composite satisfaction score on SoftwareReviews, ranking first across all vendor capability categories.

Key highlights include:

• Business Value Created: 92%
• Breadth of Features: 91%
• Quality of Features: 89%
• Usability and Intuitiveness: 90%
• Vendor Support: 92%

Users praised Semaphore for its power, scalability, and robust integration capabilities. The platform enables organizations to manage knowledge models, extract and classify data, and generate rich semantic metadata, helping businesses act faster with data-driven wisdom.

Progress (Nasdaq: PRGS) has announced the release of Semaphore 5.10, an enhanced version of its metadata management and semantic AI platform. The update introduces AI-assisted knowledge modeling, extended mapping capabilities, and classification filtering to improve user productivity and simplify knowledge management.

Key features include:

• AI Model Builder: An AI-powered tool using large language models to accelerate the creation of semantic knowledge models
• Filtering of Classification Results by Publish Set: Allows sharing of Classification Server instances across project groups
• Mapping Relations Within the Current Model: Enables capturing similarities between models and forming mapping relationships
• Easy Import and Export of Shapes Constraint Language (SHACL): Streamlines processes and enhances data quality

Semaphore 5.10 aims to address the challenge of managing complex, unstructured data in today's data-driven business landscape.

Progress (Nasdaq: PRGS) announced that its Sitefinity Insight customer data platform (CDP) has been certified as a RealCDP™ by the Customer Data Platform Institute. This certification recognizes Sitefinity Insight's strong capabilities in managing and utilizing customer data effectively, particularly for CMS and web-based applications.

Key highlights include:

• Sitefinity Insight combines an intuitive user interface with essential CDP capabilities
• It offers AI-driven content optimization and campaign performance analysis
• The platform enables marketers to deliver personalized content and achieve desired business outcomes
• RealCDP certification validates Progress's commitment to providing a robust and reliable data management solution

This recognition underscores the growing importance of CDPs in delivering personalized customer experiences, effective data management, and compliance with data privacy regulations.

Progress (Nasdaq: PRGS) has announced the conclusion of the Securities and Exchange Commission's (SEC) investigation into the MOVEit vulnerability. The SEC's Division of Enforcement has informed Progress that it does not intend to recommend an enforcement action against the company at this time. This development follows a subpoena received by Progress on October 2, 2023, as part of a fact-finding inquiry related to the MOVEit vulnerability.

The conclusion of this investigation without enforcement action is a positive outcome for Progress, potentially alleviating concerns about regulatory risks associated with the MOVEit incident. This news may have implications for investor confidence and the company's reputation in the AI-powered infrastructure software market.

Progress (Nasdaq: PRGS) has launched Progress® Chef® Courier™, a new product designed to streamline and automate job orchestration across enterprise software infrastructure. Built on the cloud-native Progress® Chef 360™ platform, Chef Courier enhances Progress' Infrastructure Management portfolio. The product aims to improve efficiency, speed, and trust in complex IT environments.

Key features of Chef Courier include:

• Customized node lists for systematic job orchestration
• Reduced troubleshooting time at scale
• Consolidation of tools to reduce skillset requirements
• Vendor-agnostic approach
• Support for open-source community
• SaaS and marketplace options

The launch aligns with Gartner's view on the evolving importance of Infrastructure Automation & Orchestration in supporting rapidly changing business and technology landscapes.

Progress has launched MarkLogic FastTrack, a UI toolkit for building data-driven applications to explore complex connected data stored in the MarkLogic platform. This React-based toolkit enables organizations to build applications up to 90% faster than starting from scratch, helping data users and decision-makers uncover unique insights through interactive interfaces.

Key features include:

• Customizable UI components
• Multi-model data visualization techniques
• Native integration with MarkLogic Server
• Advanced search and filtering capabilities
• Sample apps for quick development

MarkLogic FastTrack aims to accelerate business insights, enhance AI-driven applications, and shorten the data-to-insight lifecycle for organizations dealing with diverse and complex data.

Progress (Nasdaq: PRGS) has announced enhancements to its Progress LoadMaster 360, a cloud-based unified application delivery platform. The update features advanced Web Application Firewall (WAF) capabilities to improve security insights, reduce false positives, and enhance application performance. This enhancement is aimed at helping organizations protect their web applications from sophisticated cyberattacks. Users can now benefit from intelligent false positive identification and smart rule tuning, ensuring better application security without compromising performance. The new functionalities include precise WAF configuration based on smart traffic analysis, which balances security measures with application performance. The latest release of LoadMaster 360 is available as of July 11, 2024.

Progress (Nasdaq: PRGS) announced its Q2 2024 financial results, showing revenues of $175 million, a 2% year-over-year decrease. However, diluted EPS saw a 37% increase to $0.37, and non-GAAP diluted EPS rose by 3% to $1.09. The company reported an ARR of $579 million, up 1% year-over-year. Operating margins were 16% GAAP and 38% non-GAAP. Net income increased by 34% to $16.2 million. The cash position at the end of the quarter stood at $190.4 million. Progress raised its full-year revenue and EPS outlook, expecting GAAP revenue between $725-$735 million and non-GAAP diluted EPS between $4.70-$4.80. The updated guidance for Q3 2024 expects GAAP revenue between $174-$178 million and non-GAAP diluted EPS between $1.11-$1.15. The Board declared a dividend of $0.175 per share, payable on September 16, 2024.