Progress Q1 revenue $144.9M (+19% YoY) beats guidance; raises FY2022 outlook

PROGRESS SOFTWARE CORP /MA

2022-Q1 EPS reported $0.46 revenue$144,922,000

Revenue of $144.9M exceeded guidance; non-GAAP revenue $147.5M, up 12% YoY.
GAAP diluted EPS $0.46 (up 10%); non-GAAP diluted EPS $0.97 (up 2%).
ARR of $479M, up 12% YoY on constant currency basis.
Full-year FY2022 GAAP revenue guidance raised to $601-609M; non-GAAP EPS to $4.01-4.09.
Quarterly dividend declared $0.175/share, payable June 15, 2022.

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