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) has published its 2020 Corporate Social Responsibility (CSR) Report, focusing on advancement through its Progress for Tomorrow initiative. The report emphasizes three pillars: Our People (employee development and diversity), Our Community (charitable contributions exceeding a quarter million dollars), and Our World (environmental sustainability efforts). Highlights include new employee resource groups and significant donations for social justice. CEO Yogesh Gupta praised employees for their commitment to societal impact during a challenging year.
Progress reported fiscal Q1 2021 results showing revenue of $121.3 million, an 11% increase year-over-year, exceeding guidance. Non-GAAP revenue reached $131.8 million, a 16% rise. Annualized Recurring Revenue (ARR) grew by 22%, driven by the acquisition of Chef Software. Operating margin was 23%, while Non-GAAP operating margin was 43%. Although diluted EPS saw a 9% decline to $0.42, it rose 25% on a Non-GAAP basis to $0.95. The company has revised guidance upwards for the full year and Q2.
Progress (NASDAQ: PRGS) announced enhancements to the Chef Enterprise Automation Stack and Chef Infra Client 17, aiming to improve enterprise DevOps automation. New features include compliance audits integration, state management dashboards, and a unified developer experience. Chef Infra Client 17 offers streamlined developer experiences and expanded platform support, enhancing ease of use across various environments. A recognition program for Chef Community contributors will culminate in an April 28 launch event, highlighting the importance of community collaboration in product development.
Aquarion Water Company, New England's largest private water utility, has revamped its web presence through Progress® Sitefinity® Digital Experience Platform (DXP). This modernization enables Aquarion to consolidate 65% of its content and enhance user experience for over 700,000 customers across Connecticut, Massachusetts, and New Hampshire. The effort, in collaboration with Chateaux, won the Progress Sitefinity 2020 Website of the Year Award. As a result, Aquarion can better engage customers with a mobile-friendly, easy-to-navigate website, meeting modern digital interaction demands.
Progress (NASDAQ: PRGS) has announced that it will release its fiscal first quarter financial results on March 25, 2021, after market close. The quarter ended on February 28, 2021. A conference call to discuss the results will take place at 5:00 p.m. ET the same day. Interested parties can access the call via the company’s investor relations page or by dialing in. Progress is recognized as a leader in providing tools for developing and managing high-impact business applications, serving over 100,000 enterprise customers and a community of three million developers.
Progress (NASDAQ: PRGS) announced the release of Sitefinity 13.3, enhancing stability, security, and usability for enterprise-grade digital experiences. This version introduces long-term support (LTS), ensuring customers receive four years of extended service. Key improvements include advanced analytics, user group configuration, and streamlined developer tools, aiming to boost efficiency and reduce IT dependency. The new features are designed to meet rising customer expectations in a post-COVID world, offering businesses a reliable platform to navigate evolving demands.
Progress (NASDAQ: PRGS) announced its R1 2021 release of Telerik Test Studio, enhancing enterprise UI test automation. The new features include headless browser execution, accelerating test execution by threefold without additional configuration. The redesigned storyboard improves user experience and facilitates onboarding. Additionally, automated PDF content validation is now integral, supporting RPA processes. This release aims to boost development speed and quality, enabling teams to streamline their workflows effectively.
Progress (NASDAQ: PRGS) launched the OpenEdge on AWS Quick Start, enabling rapid migration of critical business applications to the AWS Cloud. This automated deployment uses AWS CloudFormation to set up a highly available, three-tier OpenEdge environment in just 20 minutes. The solution aims to modernize legacy applications, enhancing flexibility and scalability for organizations. With over 100,000 enterprises relying on OpenEdge, this launch positions Progress to better support customers' cloud transitions and streamline the application deployment process.
Progress (NASDAQ: PRGS) announced its partnership with Calgary Foothills Primary Care Network, a Canadian healthcare organization, to implement WhatsUp Gold, a network monitoring software. This implementation aims to enhance network performance by swiftly identifying and resolving issues, particularly as remote access demand has surged during the COVID-19 pandemic. Calgary Foothills PCN, serving over 379,000 patients with more than 490 family doctors, aims to improve IT efficiency and resource allocation.
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