Progress Q1 revenue $164.2M (+13% YoY), EPS $0.53; ARR $569M; raises FY revenue guidance

PROGRESS SOFTWARE CORP /MA

2023-Q1 EPS reported $0.53 revenue$164,226,000

GAAP revenue $164.2M (+13% YoY); Non-GAAP revenue $165.6M (+12% YoY).
GAAP diluted EPS $0.53 vs $0.46; Non-GAAP diluted EPS $1.19 vs $0.97 (+23% YoY).
ARR of $569M, up 20% on constant currency; net retention rate 102%.
FY2023 GAAP revenue guidance raised to $676-684M; Non-GAAP EPS unchanged at $4.09-4.17.
Quarterly dividend $0.175/share declared, payable June 15 to holders of record June 1.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROGRESS SOFTWARE CORP /MA reported the fiscal year ending November 30, 2023 results: revenue $676 - $684, EPS $1.32 - $1.40.

Period: the fiscal year ending November 30, 2023
Revenue: $676 - $684
EPS: $1.32 - $1.40
Result: guidance update

Exact text from the filing

Updated FY 2023 Guidance (March 28, 2023) Prior FY 2023 Guidance (January 17, 2023) (In millions, except percentages and per share amounts) GAAP Non-GAAP 1 GAAP Non-GAAP 1 Revenue $676 - $684 $680 - $688 $671 - $681 $675 - $685 Diluted earnings per share $1.32 - $1.40 $4.09 - $4.17 $1.38 - $1.46 $4.09 - $4.17

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROGRESS SOFTWARE CORP /MA reported the fiscal second quarter ending May 31, 2023 results: revenue $167 - $171, EPS $0.12 - $0.16. Guidance initiated.

Period: the fiscal second quarter ending May 31, 2023
Revenue: $167 - $171
EPS: $0.12 - $0.16
Guidance: initiated
Result: guidance update

Exact text from the filing

Q2 2023 Guidance (In millions, except per share amounts) GAAP Non-GAAP 1 Revenue $167 - $171 $168 - 172 Diluted earnings per share $0.12 - $0.16 $0.88 - $0.92

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROGRESS SOFTWARE CORP /MA reported the fiscal first quarter ended February 28, 2023 results: revenue $164.2 million, net income $23,674, EPS $0.53.

Period: the fiscal first quarter ended February 28, 2023
Revenue: $164.2 million
Net income: $23,674
EPS: $0.53
Result: reported results

Exact text from the filing

provider of infrastructure software, today announced financial results for its fiscal first quarter ended February 28, 2023. First Quarter 2023 Highlights 1 : • Revenue of $164.2 million increased 13% year-over-year on an actual currency basis, and 15% on a constant currency basis. • Non-GAAP revenue of $165.6 million increased 12% year-over-year on an actual

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Source: SEC EDGAR

accession 0000876167-23-000070

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