secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K
Filed at:   2023-06-29T23:59:59+00:00
Accession:  0000876167-23-000116
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Progress beats Q2 estimates; raises FY2023 guidance on strong 20% revenue growth
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- Q2 GAAP revenue $178.3M (+20% YoY); Non-GAAP EPS $1.06 (+2%), GAAP EPS $0.27 (-59%).
- ARR $569M, +19% constant currency; net retention rate 101% indicating strong renewals.
- Raised FY2023 guidance: GAAP revenue $686-694M, Non-GAAP EPS $4.16-4.24 (prior $4.09-4.17).
- Q3 guidance: GAAP revenue $171-175M, Non-GAAP EPS $0.98-1.02; expects $0.01 FX tailwind.
- Board declared $0.175/share dividend, payable Sep 15, 2023 to holders Sep 1, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000087616723000116/0000876167-23-000116-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000087616723000116/prgs-20230629.htm
  HTML page:      https://secwatch.observer/filing/0000876167-23-000116

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer