Business
Progress Announces First Quarter 2025 Financial Results
Annualized Recurring Revenue ("ARR") of $836 million Grew 48% year-over-yearRevenue of $238 million Grew 29% year-over-yearShareFile Integration Underway
About this update from Progress Software Corporation
[{"type":"text","content":"Annualized Recurring Revenue (\"ARR\") of $836 million Grew 48% year-over-yearRevenue of $238 million Grew 29% year-over-yearShareFile Integration Underway BURLINGTON, Mass., March 31, 2025 (GLOBE NEWSWIRE) -- Progress (Nasdaq: PRGS), the trusted provider of AI-powered digital experience and infrastructure software, today announced financial results for its fiscal first quarter ended February 28, 2025. First Quarter 2025 Highlights: Revenue and non-GAAP revenue of $238 million increased 29% year-over-year on an actual and 30% on a constant currency basis.Annualized Recurring Revenue (\"ARR\") of $836 million increased 48% year-over-year on a constant currency basis.Operating margin was 14% and non-GAAP operating margin was 39%.Diluted earnings per share was $0.24 compared to $0.51 in the same quarter last year, a decrease of 53%. Non-GAAP diluted earnings per share was $1.31 compared to $1.25 in the same quarter last year, an increase of 5%. \"We’re extremely pleased with our excellent Q1 results,\" said Yogesh Gupta, CEO of Progress. \"We are ahead, or on plan, with all our ShareFile integration milestones, which are providing significant contributions to ARR and revenues, as well as expense savings. Our solid performance on the top line was again driven by our product portfolio across the board, with our data platform and infrastructure management products having a particularly solid quarter. Our Net Retention Rate again surpassed 100%, which reflects the resiliency of our business and the strength of our customer relationships. Operationally, our first quarter was solid by every metric, and I am extremely proud of our team for their dedication and relentless commitment to our customers.\" Additional financial highlights included: Three Months Ended GAAP Non-GAAP(In thousands, except percentages and per share amounts)February 28, 2025 February 29, 2024 % Change February 28, 2025 February 29, 2024 % ChangeRevenue$238,015 $184,685 29% $238,015 $184,685 29%Income from operations$32,426 $35,006 (7)% $93,595 $76,756 22%Operating margin 14% 19% (500) bps 39% 42% (300) bps Net income$10,946 $22,639 (52)% $58,995 $55,928 5%Diluted earnings per share$0.24 $0.51 (53)% $1.31 $1.25 5%Cash from operations (GAAP) / Adjusted free cash flow (non-GAAP) / Unlevered free cash flow (non-GAAP)$68,947 $70,504 (2)% $73,211 $72,204 1% $87,954 $78,079...