Progress Software Corp /MA reported first-quarter 2026 results with revenue of $253.47M, up from $237.36M a year earlier, and diluted earnings per share of $0.5 versus $0.39 in the prior-year quarter. Net income was $21.07M, compared with $17.03M in the year-ago period.
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$253.47M$237.36M6.8% | Net income²$21.07M$17.03M23.7% | Diluted EPS³$0.5$0.3928.2% |
¹ Reported as “Total revenue”. ² Reported as “Net income”. ³ Reported as “Diluted earnings per share”.
Business Highlights
- Revenue growth was driven by higher license sales and favorable foreign-exchange impacts, lifting total revenue 7% sequentially and 5% year-to-date to $501.3M.
- Product and channel mix shifted toward license growth with strong contributions from DataDirect, Chef, MarkLogic and OpenEdge.
- Recurring revenue metrics were steady: ARR rose 2% to $868M; maintenance and SaaS remained stable while professional services declined.
- Operational improvements included a reduced DSO to 49 days and lower hosting and contractor costs, which helped boost operating cash flow.
- Risk items: remediation of the MOVEit vulnerability and ongoing MDL litigation (fact discovery through Sept 2026) continue to affect operations and costs.
Original SEC Filing:
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