secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K
Filed at:   2023-09-26T23:59:59+00:00
Accession:  0000876167-23-000168
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 Q3 estimates; ARR up 18%; raises FY2023 guidance
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000087616723000168/0000876167-23-000168-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000087616723000168/prgs-20230926.htm
  HTML page:      https://secwatch.observer/filing/0000876167-23-000168

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