---
schema_version: "secwatch.filing_event.v1"
accession: "0000876167-24-000059"
form_type: "8-K/A"
ticker: "PRGS"
cik: "0000876167"
company_name: "PROGRESS SOFTWARE CORP /MA"
filed_at: "2024-03-28T23:59:59+00:00"
generated_at: "2026-06-04T06:50:43.369932+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Progress Q1 beats estimates; raises FY2024 non-GAAP EPS guidance to $4.65-4.75

## Summary
- Revenue $184.7M (+12% YoY); GAAP EPS $0.51 vs $0.53; non-GAAP EPS $1.25 vs $1.19, above guidance.
- Raises FY2024 non-GAAP EPS guidance to $4.65-4.75 from $4.58-4.68; revenue unchanged $722-732M.
- Closed $450M convertible notes and new $900M credit facility; used proceeds to repay all prior bank debt.
- ARR $571M flat YoY constant currency; operating margin 19% GAAP and 42% non-GAAP.
- Declares Q2 dividend $0.175/share payable June 17, 2024 to holders of record June 3.

## SEC filing metadata
- accession: 0000876167-24-000059
- form_type: 8-K/A
- ticker: PRGS
- cik: 0000876167
- company_name: PROGRESS SOFTWARE CORP /MA
- filed_at: 2024-03-28T23:59:59+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/876167/000087616724000059/0000876167-24-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/876167/000087616724000059/prgs-20240326.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000876167-24-000059
- JSON: https://secwatch.observer/filing/0000876167-24-000059.json
- Plain text: https://secwatch.observer/filing/0000876167-24-000059.txt

## Key facts
- Earnings Releases
  PROGRESS SOFTWARE CORP /MA reported Fiscal first quarter ended February 29, 2024 results: revenue $185 million, EPS $0.51 diluted earnings per share.
  - Period: Fiscal first quarter ended February 29, 2024
  - Revenue: $185 million
  - EPS: $0.51 diluted earnings per share
  - Result: reported results
  source text: provider of infrastructure software, today announced financial results for its fiscal first quarter ended February 29, 2024. First Quarter 2024 Highlights 1 : • Revenue of $185 million increased 12% year-over-year on both an actual and a constant currency basis. • Non-GAAP revenue of $185 million increased 12% year-over-year on an actual currency basis and 11%
  evidence_url: https://www.sec.gov/Archives/edgar/data/876167/000087616724000059/0000876167-24-000059-index.htm

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