Progress beats Q3 estimates, raises FY2021 guidance, announces $258M Kemp acquisition

PROGRESS SOFTWARE CORP /MA

2022-Q3 EPS reported $1.43 revenue$391,185,000

Q3 GAAP EPS $0.70 (up 32% YoY); Non-GAAP EPS $1.18 (up 51%); Revenue $147.4M (+34%).
ARR $444M (+25% constant currency); operating margin 31% GAAP / 47% non-GAAP.
Announced acquisition of Kemp Technologies for $258M cash; expected to close in Q4.
Raised FY2021 guidance: GAAP EPS $1.56-1.58, non-GAAP EPS $3.68-3.70; revenue $548-552M non-GAAP.
Declared quarterly dividend $0.175/share, payable Dec 15 to holders of record Dec 1.

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