Progress Software beats Q4 estimates; ARR +17% YoY; FY2024 guidance raised

PROGRESS SOFTWARE CORP /MA

2023-FY EPS reported $1.57 revenue$694,439,000

Q4 GAAP revenue $177.0M (+13% YoY), above guidance; non-GAAP EPS $1.02 vs $1.12 YoY (down 9%).
ARR of $574M (+17% YoY constant currency); net retention rate at 100%.
Declared quarterly dividend $0.175/share (unchanged), payable March 15, 2024 to holders of record March 1.
FY2024 guidance: GAAP revenue $722-732M, GAAP EPS $1.94-2.06; non-GAAP EPS $4.58-4.68.
FY2023 adjusted free cash flow $175M; cash and equivalents $127M; paid down $30M debt in Q4.

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 1.0

PROGRESS SOFTWARE CORP /MA reported financial results for the fiscal fourth quarter ended November 30, 2023.

Period: the fiscal fourth quarter ended November 30, 2023
Result: reported results

Exact text from the filing

On January 16, 2024, Progress Software Corporation ("Progress") issued a press release announcing its financial results for the fiscal fourth quarter ended November 30, 2023.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PROGRESS SOFTWARE CORP /MA reported financial results for the fiscal year ended November 30, 2023.

Period: the fiscal year ended November 30, 2023
Result: reported results

Exact text from the filing

On January 16, 2024, Progress Software Corporation ("Progress") issued a press release announcing its financial results for the fiscal fourth quarter ended November 30, 2023.

View on SEC.gov

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PROGRESS SOFTWARE CORP /MA filing history →

Source: SEC EDGAR

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