Progress Software Q2: ARR $838M (+46%), revenue $237M (+36%), raises FY guidance

PROGRESS SOFTWARE CORP /MA

2025-Q2 EPS reported $0.63 vs consensus $1.33 ▼ miss (-52.6%)

ARR of $838M grew 46% YoY; revenue $237M up 36% YoY (35% constant currency).
GAAP EPS $0.39; non-GAAP EPS $1.40 (+28% YoY); non-GAAP operating margin 40% (+200 bps).
Net retention rate 100%; cash from operations $30M; adjusted free cash flow $37M.
Raised full-year guidance for revenue, operating margin, EPS and cash flow.
Acquired Agentic RAG AI company; no financial terms disclosed; integration of ShareFile on track.

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