secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K
Filed at:   2024-01-16T23:59:59+00:00
Accession:  0000876167-24-000009
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000087616724000009/0000876167-24-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000087616724000009/prgs-20240116.htm
  HTML page:      https://secwatch.observer/filing/0000876167-24-000009

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