---
schema_version: "secwatch.filing_event.v1"
accession: "0000876167-24-000057"
form_type: "8-K"
ticker: "PRGS"
cik: "0000876167"
company_name: "PROGRESS SOFTWARE CORP /MA"
filed_at: "2024-03-26T23:59:59+00:00"
generated_at: "2026-06-04T08:15:40.704978+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000876167-24-000057
- form_type: 8-K
- ticker: PRGS
- cik: 0000876167
- company_name: PROGRESS SOFTWARE CORP /MA
- filed_at: 2024-03-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/876167/000087616724000057/0000876167-24-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/876167/000087616724000057/prgs-20240326.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000876167-24-000057
- JSON: https://secwatch.observer/filing/0000876167-24-000057.json
- Plain text: https://secwatch.observer/filing/0000876167-24-000057.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/876167/000087616724000057/0000876167-24-000057-index.htm

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