---
schema_version: "secwatch.filing_event.v1"
accession: "0000876167-24-000009"
form_type: "8-K"
ticker: "PRGS"
cik: "0000876167"
company_name: "PROGRESS SOFTWARE CORP /MA"
filed_at: "2024-01-16T23:59:59+00:00"
generated_at: "2026-06-06T23:42:17.809249+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000876167-24-000009
- form_type: 8-K
- ticker: PRGS
- cik: 0000876167
- company_name: PROGRESS SOFTWARE CORP /MA
- filed_at: 2024-01-16T23:59:59+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/876167/000087616724000009/0000876167-24-000009-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/876167/000087616724000009/prgs-20240116.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000876167-24-000009
- JSON: https://secwatch.observer/filing/0000876167-24-000009.json
- Plain text: https://secwatch.observer/filing/0000876167-24-000009.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/876167/000087616724000009/0000876167-24-000009-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/876167/000087616724000009/0000876167-24-000009-index.htm

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