secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K
Filed at:   2024-03-26T23:59:59+00:00
Accession:  0000876167-24-000057
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000087616724000057/0000876167-24-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000087616724000057/prgs-20240326.htm
  HTML page:      https://secwatch.observer/filing/0000876167-24-000057

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