---
schema_version: "secwatch.filing_event.v1"
accession: "0000876167-23-000168"
form_type: "8-K"
ticker: "PRGS"
cik: "0000876167"
company_name: "PROGRESS SOFTWARE CORP /MA"
filed_at: "2023-09-26T23:59:59+00:00"
generated_at: "2026-06-10T09:03:41.123100+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Progress beats Q3 estimates; ARR up 18%; raises FY2023 guidance

## Summary
- Q3 revenue $175M (+16% YoY); GAAP EPS $0.42; non-GAAP EPS $1.08 (+8% YoY), ahead of guidance.
- Annualized Recurring Revenue (ARR) $577M, up 18% YoY constant currency; net retention 100.6%.
- FY2023 revenue guidance raised to $688-694M GAAP; non-GAAP EPS $4.20-4.26, up from prior $4.16-4.24.
- Dividend $0.175/share declared, payable Dec 15, 2023 to holders of record Dec 1.
- Cash from operations $46M; adjusted free cash flow $47.6M; balance sheet strong.

## SEC filing metadata
- accession: 0000876167-23-000168
- form_type: 8-K
- ticker: PRGS
- cik: 0000876167
- company_name: PROGRESS SOFTWARE CORP /MA
- filed_at: 2023-09-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/876167/000087616723000168/0000876167-23-000168-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/876167/000087616723000168/prgs-20230926.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000876167-23-000168
- JSON: https://secwatch.observer/filing/0000876167-23-000168.json
- Plain text: https://secwatch.observer/filing/0000876167-23-000168.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.