secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K/A
Filed at:   2024-03-28T23:59:59+00:00
Accession:  0000876167-24-000059
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000087616724000059/0000876167-24-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000087616724000059/prgs-20240326.htm
  HTML page:      https://secwatch.observer/filing/0000876167-24-000059

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