Progress beats Q1 estimates: Revenue $185M (+12%), Non-GAAP EPS $1.25 (+5%); raises FY guidance

PROGRESS SOFTWARE CORP /MA

2024-Q1 EPS reported $0.51 revenue$184,685,000

Revenue $184.7M, +12% YoY; Q1 GAAP EPS $0.51 (down 4%), Non-GAAP EPS $1.25 (up 5%).
ARR $571M flat YoY constant currency; operating margin 19% GAAP, 42% Non-GAAP.
Cash from operations $70.5M (+51% YoY); declared $0.175/share quarterly dividend payable June 17.
Completed $450M convertible notes offering; new $900M credit facility; repaid prior bank debt.
Raised FY2024 Non-GAAP EPS guidance to $4.65-$4.75; Q2 guidance $0.93-$0.97 Non-GAAP EPS.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROGRESS SOFTWARE CORP /MA reported financial results for the fiscal first quarter ended February 29, 2024.

Period: the fiscal first quarter ended February 29, 2024
Result: reported results

Exact text from the filing

On March 26, 2024, Progress Software Corporation ("Progress") issued a press release announcing its financial results for the fiscal first quarter ended February 29, 2024.

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PROGRESS SOFTWARE CORP /MA filing history →

Source: SEC EDGAR

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