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Progress Software Corp. (PRGS)
NASDAQ:PRGS
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Earnings Data
Report Date
Jan 21, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
1.06Last Year’s EPS
1.25Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 17, 2019
|% Change Since: -11.37%
|Next Earnings Date:Sep 27, 2018
Earnings Call Sentiment|Positive
The earnings call reflected a strong performance in FY '24 with significant ARR growth, a successful acquisition, and positive regulatory outcomes. However, there are concerns about the high debt levels and their impact on future earnings, as well as the initial low operating margins from the ShareFile acquisition.Company Guidance
During the Q4 2024 earnings call for Progress Software Corporation (PRGS) held on January 21, 2025, the executives provided guidance that highlighted several key metrics. The company exceeded the high end of guidance with earnings per share of $1.33, surpassing expectations by $0.08. They reported annual recurring revenue (ARR) growth of 46% in constant currency, with a net retention rate of over 100%. Progress generated $238 million in unlevered free cash flow on revenues of $753 million, nearing the high-end guidance of $755 million, despite the ShareFile acquisition contributing only one month of revenue in Q4. For fiscal year 2025, they project revenue between $958 million and $970 million, representing 27% to 29% growth, with an operating margin of 37% to 38%. Additionally, they anticipate an adjusted free cash flow of $225 million to $237 million, and unlevered free cash flow between $282 million and $294 million. The executives emphasized disciplined M&A strategies and the integration of ShareFile, expected to add $250 million to the top line, with a focus on increasing SaaS recurring revenue to close to 30% of total revenue and maintaining strong operating margins.Strong ARR Growth
Annual Recurring Revenue (ARR) grew by 46% in constant currency, with a net retention rate above 100%.
Successful ShareFile Acquisition
Closed acquisition of ShareFile on October 31, 2024, contributing $21 million to Q4 revenue. Expected to add $250 million to FY '25 revenue, all as SaaS recurring revenue.
Record Free Cash Flow
Generated $238 million in unlevered free cash flow on revenues of $753 million.
Positive Regulatory Outcomes
SEC investigation into MOVEit vulnerability concluded with no actions recommended. Other data privacy investigations closed without action.
Innovative AI Solutions
Launched AI-powered enhancements in products, including MarkLogic and Semaphore using retrieval augmented generation for Gen AI applications.
Recognition as a Best Place to Work
Progress was selected as a Best Place to Work by Boston Globe and Boston Business Journal, reflecting strong employee engagement.
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PRGS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PRGS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 21, 2025 | $63.52 | $57.26 | -9.86% |
| Sep 24, 2024 | $57.15 | $63.92 | +11.85% |
| Jun 25, 2024 | $48.55 | $54.77 | +12.81% |
| Mar 26, 2024 | $52.31 | $52.29 | -0.04% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Progress Software Corp. (PRGS) report earnings?
Progress Software Corp. (PRGS) is schdueled to report earning on Jan 21, 2025, TBA Not Confirmed.
What is Progress Software Corp. (PRGS) earnings time?
Progress Software Corp. (PRGS) earnings time is at Jan 21, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PRGS EPS forecast?
PRGS EPS forecast for the fiscal quarter 2025 (Q1) is 1.06.
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