Progress beats Q2 estimates, raises full-year EPS and revenue guidance

PROGRESS SOFTWARE CORP /MA

2024-Q2 EPS reported $0.87 revenue$359,762,000

Q2 revenue $175M (-2% YoY); GAAP EPS $0.37 (+37%); non-GAAP EPS $1.09 (+3%).
ARR $579M up 1% YoY constant currency; cash from operations $63.7M up 33% YoY.
Raised FY2024 revenue guidance to $725-735M (from $722-732M) and non-GAAP EPS to $4.70-4.80 (from $4.65-4.75).
Board declared quarterly dividend $0.175/share, payable Sept 16, 2024.
Q3 2024 guidance: revenue $174-178M, non-GAAP EPS $1.11-1.15.

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