YuFan Stephanie Wang
Effective as of September 20, 2022, Progress Software Corporation (the “Company”) promoted Ms. YuFan Stephanie Wang to succeed Mr. Stephen H. Faberman as Executive Vice President, Chief Legal Officer and Secretary.
Highest-materiality recent filing
Progress Software to acquire Domo's AI/Data Platform for $400M; Q3 guidance at/above high end
Cash purchase price of $400M for substantially all assets of Domo's AI and data platform business.
Progress Software Q2 revenue $253M (+7% YoY), ARR $868M (+2%), non-GAAP EPS $1.62
Revenue $253M, up 7% YoY (actual) and 6% constant currency.
Progress Software Q1 revenue $248M (+4%), non-GAAP EPS $1.60 (+22%) beat
GAAP diluted EPS $0.53 vs $0.24 YoY, up 121% on revenue of $247.8M (+4% actual, +2% constant currency).
Progress Software Q4 revenue $253M (+18% YoY); Non-GAAP EPS $1.51 (+14%)
Revenue $252.7M (+18% YoY); ARR $852M (+2% YoY constant currency).
Progress Q3 revenue $250M (+40% YoY), ARR $849M (+47%), raises FY guidance
Revenue $249.8M (+40% YoY; +38% constant currency); ARR $849M (+47% constant currency).
Progress Software upsizes credit facility to $1.5B, extends maturity to 2030
New $1.5B secured revolving facility replaces prior $900M facility from March 2024.
Progress Software Q2: ARR $838M (+46%), revenue $237M (+36%), raises FY guidance
ARR of $838M grew 46% YoY; revenue $237M up 36% YoY (35% constant currency).
Progress Q1 revenue up 29% YoY to $238M, ARR jumps 48% to $836M, GAAP EPS down 53%
Revenue $238M (+29% YoY); ARR $836M (+48% YoY) driven by ShareFile acquisition.
Q4 GAAP diluted EPS $0.03 (-91% YoY) on ShareFile acquisition costs; non-GAAP EPS $1.33 (+30%).
Progress Software: ShareFile generated $183.6M revenue, $5.5M operating shortfall
ShareFile revenues of $183.6M vs direct expenses $189.1M, resulting in $5.5M shortfall for 9 months ended Sep 1, 2024.
Progress Software completes $875M acquisition of ShareFile from Cloud Software Group
Purchased ShareFile for $875M in cash, funded by cash on hand and existing revolving credit facility.
Q3 revenue $178.7M (+2% YoY); GAAP EPS $0.65 (vs $0.42), non-GAAP EPS $1.26 (vs $1.08).
Progress to acquire ShareFile for $875M; suspends dividend; Q3 guidance above high end
Acquisition from Cloud Software Group for $875M (cash + revolver); expected close by Nov 30, 2024.
SEC concludes MOVEit investigation with no enforcement action against Progress
SEC notified Progress on Aug 6, 2024, that its investigation is closed with no enforcement action.
Progress beats Q2 estimates, raises full-year EPS and revenue guidance
Q2 revenue $175M (-2% YoY); GAAP EPS $0.37 (+37%); non-GAAP EPS $1.09 (+3%).
Progress Q1 beats estimates; raises FY2024 non-GAAP EPS guidance to $4.65-4.75
Revenue $184.7M (+12% YoY); GAAP EPS $0.51 vs $0.53; non-GAAP EPS $1.25 vs $1.19, above guidance.
Progress beats Q1 estimates: Revenue $185M (+12%), Non-GAAP EPS $1.25 (+5%); raises FY guidance
Revenue $184.7M, +12% YoY; Q1 GAAP EPS $0.51 (down 4%), Non-GAAP EPS $1.25 (up 5%).
Progress Software issues $450M of 3.50% Convertible Senior Notes due 2030
$450M aggregate principal of 3.50% Convertible Senior Notes due 2030, issued March 1, 2024.
Progress prices $400M convertible senior notes due 2030, upsized from $350M
3.50% coupon, maturity March 1, 2030; conversion price ~$67.74/share, 27.5% premium over $53.13 close.
Progress Software plans $350M convertible notes due 2030; seeks $900M revolver amendment
$350M aggregate principal of convertible senior notes due 2030, with option for additional $52.5M overallotment.
Progress Software beats Q4 estimates; ARR +17% YoY; FY2024 guidance raised
Q4 GAAP revenue $177.0M (+13% YoY), above guidance; non-GAAP EPS $1.02 vs $1.12 YoY (down 9%).
Progress beats Q3 estimates; ARR up 18%; raises FY2023 guidance
Q3 revenue $175M (+16% YoY); GAAP EPS $0.42; non-GAAP EPS $1.08 (+8% YoY), ahead of guidance.
Progress beats Q2 estimates; raises FY2023 guidance on strong 20% revenue growth
Q2 GAAP revenue $178.3M (+20% YoY); Non-GAAP EPS $1.06 (+2%), GAAP EPS $0.27 (-59%).
Progress Q1 revenue $164.2M (+13% YoY), EPS $0.53; ARR $569M; raises FY revenue guidance
GAAP revenue $164.2M (+13% YoY); Non-GAAP revenue $165.6M (+12% YoY).
Progress Software completes $355M acquisition of MarkLogic; expects accretion in Q2 2023
Completed acquisition of MarkLogic, a leader in complex data management, for $355 million.
Progress beats Q4 EPS estimates, acquires MarkLogic, guides FY2023 above consensus
Q4 GAAP revenue $157.1M (+12% YoY); non-GAAP diluted EPS $1.12 (+22% YoY), ahead of guidance.
Progress Software to acquire MarkLogic for $355M cash; reports preliminary Q4 ARR ~$497M
Acquires all equity of Vector Maven Holdings (MarkLogic) for ~$355M in cash; expected close early 2023.
Detected irregular activity on corporate network; engaged outside cybersecurity experts and incident response professionals.
Progress Q3 beats guidance: revenue $151M, non-GAAP EPS $1.00; FY22 non-GAAP EPS guidance raised
GAAP revenue $151.2M (+3% YoY), diluted EPS $0.50 (-29%); non-GAAP EPS $1.00 (-15%).
Progress appoints YuFan Stephanie Wang as Chief Legal Officer; predecessor on disability leave
Effective Sep 20, 2022, Wang succeeds Stephen H. Faberman as EVP, Chief Legal Officer & Secretary.
Progress beats Q2 FY2022; EPS $0.66 ($1.04 non-GAAP), revenue $148.7M, raises non-GAAP EPS guidance
Revenue $148.7M (+21% YoY) exceeded prior guidance; operating margin 27% GAAP, 41% non-GAAP.
Progress Q1 revenue $144.9M (+19% YoY) beats guidance; raises FY2022 outlook
Revenue of $144.9M exceeded guidance; non-GAAP revenue $147.5M, up 12% YoY.
Progress Q4 FY21 beat: rev $140.1M (+14% YoY), non-GAAP EPS $0.92; Kemp acquisition closed Nov 1
Revenue $140.1M (+14% YoY); non-GAAP revenue $143.7M (+11% YoY). GAAP diluted EPS $0.33 (down 15% YoY), non-GAAP diluted EPS $0.92 (up 1%).
Progress completes $258M acquisition of Kemp, expects accretion in Q4 2021
Acquired Kemp (MPC Kappa) for ~$258M in cash from cash on hand.
Progress Software acquires Kemp for $258M cash, adds application experience management
Acquires privately held Kemp for $258M in cash; expected close October 2021.
Progress beats Q3 estimates, raises FY2021 guidance, announces $258M Kemp acquisition
Q3 GAAP EPS $0.70 (up 32% YoY); Non-GAAP EPS $1.18 (up 51%); Revenue $147.4M (+34%).
Effective as of September 20, 2022, Progress Software Corporation (the “Company”) promoted Ms. YuFan Stephanie Wang to succeed Mr. Stephen H. Faberman as Executive Vice President, Chief Legal Officer and Secretary.
Mr. Faberman will continue to be employed with the company in a non-executive position and his removal from his executive position effective as of September 20, 2022 was not due to any disagreement with the Company or any matters relating to the Company’s operations or financial performance.
On March 5, 2022, Gary Quinn, Executive Vice President, Sales and Sales Operations, Enterprise Application Experience, informed Progress of his decision to resign from the Company, effective as of April 8, 2022, to pursue other interests.
Max materiality 0.85 · Median 0.75 · Most common event earnings