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Progress Software ( (PRGS) ) has shared an update.
Progress announced its financial results for the first quarter of fiscal 2025, ending February 28, 2025. The company reported a 29% year-over-year increase in revenue to $238 million and a 48% increase in annualized recurring revenue to $836 million. The ShareFile integration is progressing well, contributing to revenue growth and expense savings. Despite a decrease in GAAP diluted earnings per share, non-GAAP diluted earnings per share increased by 5%. The company repurchased $30 million of shares and paid down $30 million of its revolving credit line. Progress’s strong performance reflects steady demand and effective cost management, with a positive outlook for the remainder of the fiscal year.
More about Progress Software
Progress is a trusted provider of AI-powered digital experience and infrastructure software.
YTD Price Performance: -20.58%
Average Trading Volume: 732,755
Technical Sentiment Signal: Buy
Current Market Cap: $2.21B
See more data about PRGS stock on TipRanks’ Stock Analysis page.