Progress Software ( (PRGS) ) has released its Q1 earnings. Here is a breakdown of the information Progress Software presented to its investors.
Progress Software, a leading provider of AI-powered digital experience and infrastructure software, has reported its financial results for the first quarter of 2025, showcasing significant growth in its recurring revenue streams. The company, known for its robust product portfolio, continues to support over 4 million developers and technologists globally.
In the first quarter of 2025, Progress Software reported a revenue of $238 million, marking a 29% increase year-over-year. The company’s Annualized Recurring Revenue (ARR) saw a substantial growth of 48% year-over-year, reaching $836 million. The integration of ShareFile is progressing well, contributing positively to both ARR and revenue.
Key financial metrics highlighted in the report include a non-GAAP operating margin of 39% and a non-GAAP diluted earnings per share of $1.31, reflecting a 5% increase from the previous year. Despite a decline in GAAP net income and diluted earnings per share, the company’s non-GAAP figures indicate a strong underlying performance. Progress also repurchased $30 million of its shares and made a $30 million repayment on its revolving credit line.
Looking ahead, Progress Software remains optimistic about its financial performance for the rest of the fiscal year 2025. The company has provided guidance for continued revenue growth and maintained its focus on integrating ShareFile, expecting to complete the process by year-end. This strategic focus is anticipated to further enhance the company’s financial health and operational efficiency.