OverviewSuggest Edit

Progress Software is a company that provides software solutions for various industries. It operates through three segments. The OpenEdge segment offers Progress OpenEdge, a development software, which builds multi-language applications for secure deployment across various platforms and devices. The Data Connectivity and Integration segment provides Progress DataDirect Connect software, which offers data connectivity using industry-standard interfaces to connect applications running on various platforms. The Application Development and Deployment segment offers Dev Tools, a cross-platform, user experience design, quality assurance, debugging, and reporting suite.

TypePublic
Founded1981
HQBedford, US
Websiteprogress.com
Employee Ratings3.8

Latest Updates

Employees (est.) (Nov 2019)1,538(+9%)
Job Openings59
Revenue (FY, 2019)$413.3 M(+5%)
Share Price (May 2020)$40.1

Key People/Management at Progress Software

Yogesh Gupta

Yogesh Gupta

Chief Executive Officer
Anthony Folger

Anthony Folger

Chief Financial Officer
Joan Groleau

Joan Groleau

Senior Director of Global Partner Programs
John Ainsworth

John Ainsworth

SVP Core Products
Stephen Faberman

Stephen Faberman

Chief Legal Officer
Tony Murphy

Tony Murphy

Chief Information Officer
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Progress Software Office Locations

Progress Software has offices in Bedford, Alpharetta, Boston, Burlington and in 28 other locations
Bedford, US (HQ)
14 Oak Park Dr
Alpharetta, US
100 North Point Center E #560
Boston, US
One Beacon Street, 1 Beacon St 15th Floor
Burlington, US
15 Wayside Rd #400
Madison, US
525 Junction Rd #8500
Morrisville, US
3005 Carrington Mill Blvd #400
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Progress Software Financials and Metrics

Progress Software Revenue

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Progress Software's revenue was reported to be $413.30 m in FY, 2019 which is a 4.1% increase from the previous period.
USD

Revenue (Q1, 2020)

109.7m

Gross profit (Q1, 2020)

94.8m

Gross profit margin (Q1, 2020), %

86.4%

Net income (Q1, 2020)

21.1m

EBIT (Q1, 2020)

30.7m

Market capitalization (28-May-2020)

1.8b

Closing stock price (28-May-2020)

40.1

Cash (29-Feb-2020)

161.1m

EV

2.0b
Progress Software's current market capitalization is $1.8 b.
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Revenue

405.3m397.6m397.2m413.3m

Revenue growth, %

7%(2%)0%4%

Cost of goods sold

65.7m69.2m67.0m75.2m

Gross profit

339.6m328.4m330.2m338.1m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Revenue

91.0m93.2m97.3m94.0m96.1m95.7m89.5m100.0m106.7m109.7m

Cost of goods sold

15.8m17.4m18.1m16.9m16.6m16.7m16.0m17.6m20.8m14.9m

Gross profit

75.2m75.8m79.2m77.1m79.5m79.0m73.5m82.4m85.9m94.8m

Gross profit Margin, %

83%81%81%82%83%83%82%82%80%86%
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Cash

207.0m133.5m105.1m154.3m

Accounts Receivable

65.7m61.2m58.5m72.8m

Current Assets

336.1m263.4m228.8m284.7m

PP&E

50.1m42.3m30.7m29.8m
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019

Net Income

(55.7m)37.4m63.5m26.4m

Depreciation and Amortization

39.3m42.9m44.5m56.7m

Accounts Payable

(3.1m)673.0k(11.8m)9.1m

Cash From Operating Activities

102.8m105.7m121.4m128.5m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020

Net Income

(525.0k)9.8m21.0m12.9m28.3m45.1m9.4m17.6m31.1m21.1m

Depreciation and Amortization

9.4m19.8m31.3m11.3m22.6m33.6m10.5m23.3m40.2m7.7m

Accounts Payable

(989.0k)(6.5m)(11.0m)(17.8m)(18.0m)(20.3m)(13.1m)(4.6m)(3.9m)(20.9m)

Cash From Operating Activities

37.3m59.7m73.2m31.6m73.7m97.0m24.4m65.1m91.9m33.0m
USDY, 2020

EV/EBIT

63.7 x

EV/CFO

59.3 x

Financial Leverage

2.7 x
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Progress Software Operating Metrics

Progress Software's Backlog was reported to be $149.4m in FY, 2018. Progress Software's Enterprise Customers was reported to be 100 k in FY, 2019.
FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017Q1, 2018Q2, 2018Q3, 2018FY, 2018Q1, 2019Q2, 2019Q3, 2019FY, 2019

Backlog

$164.13 m$170.34 m$163.42 m$160.54 m$159.44 m$171.79 m$164.40 m$158.51 m$149.45 m

Remaining Performance Obligations

$143 m$154 m$166 m$186 m

Independent Software Vendors

1.70 k1.70 k1.70 k1.70 k1.70 k1.70 k1.70 k1.70 k1.70 k1.70 k1.70 k

Enterprise Customers

80 k100 k100 k100 k100 k100 k100 k100 k100 k100 k100 k
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Progress Software Acquisitions / Subsidiaries

Company NameDateDeal Size
IpswitchApril 01, 2019$225 m
KinveyJune 28, 2017$49 m
DataRPMMarch 29, 2017$30 m
OneBit SoftwareAugust 03, 2016
TelerikOctober 22, 2014$262.50 m
BravePointOctober 01, 2014
ModulusJune 09, 2014
RollbaseJune 10, 2013$13.50 m
Corticon TechnologiesDecember 05, 2011
SavvionJanuary 11, 2010$49 m
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Progress Software Revenue Breakdown

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Progress Software revenue breakdown by business segment: 18.5% from Application Development and Deployment, 9.7% from Data Connectivity and Integration and 71.8% from OpenEdge

Progress Software revenue breakdown by geographic segment: 5.4% from Asia Pacific, 33.2% from EMEA, 51.6% from United States and 9.8% from Other

Progress Software Online and Social Media Presence

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Progress Software Company Culture

  • Compensation

    A+

    100/100

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Progress Software News and Updates

Progress Software shares dip on revenue shortfall

Progress Software Corp. shares were down 2% in after-hours trading Thursday after the company reported fiscal first-quarter earnings that beat Wall Street estimates. Progress Software reported net income of $21.1 million in the quarter, or 46 cents a share, compared with net income of $9.4 million,…

Stocks making the biggest moves after hours: Gap, CSX and Progress Software

Check out the companies making headlines after hours on Tuesday.

Progress Software stock rallies as outlook tops Street view

Progress Software Corp. shares rose in the extended session Thursday after the business software company's outlook topped Wall Street estimates. Progress shares rose 4.7% after hours, following a 5% gain in the regular session to close at $47.54. Progress expects adjusted earnings of 69 cents to 71…

Progress Software stock tanks after quarterly sales miss

Shares of Progress Software Corp. fell more than 6% in the extended session Thursday after the company reported third-quarter sales below expectations. Progress said it earned $13.6 million, or 30 cents a share, compared with $14.4 million, or 32 cents a share, in the year-ago period. Adjusted for …

Progress Software stock rallies more than 10% on earnings, outlook beat

Progress Software Corp. shares rallied in the extended session Thursday after the business software company's quarterly earnings and outlook topped Wall Street estimates. Progress Software shares surged 13% after hours, following a 1.9% rise to close the regular session at $40.63. The company repor…

Progress Software stock surges nearly 20% on earnings beat, raised outlook

Progress Software Corp. shares rallied in the extended session Thursday after the company topped Wall Street estimates for the quarter and hiked its outlook. Progress Software shares rallied 18% after hours, following a 3.5% gain to close the regular session at $38.32. The company reported fiscal f…
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Progress Software Frequently Asked Questions

  • When was Progress Software founded?

    Progress Software was founded in 1981.

  • Who are Progress Software key executives?

    Progress Software's key executives are Yogesh Gupta, Anthony Folger and Joan Groleau.

  • How many employees does Progress Software have?

    Progress Software has 1,538 employees.

  • What is Progress Software revenue?

    Latest Progress Software annual revenue is $413.3 m.

  • What is Progress Software revenue per employee?

    Latest Progress Software revenue per employee is $268.7 k.

  • Who are Progress Software competitors?

    Competitors of Progress Software include Splunk, Zendesk and Red Hat.

  • Where is Progress Software headquarters?

    Progress Software headquarters is located at 14 Oak Park Dr, Bedford.

  • Where are Progress Software offices?

    Progress Software has offices in Bedford, Alpharetta, Boston, Burlington and in 28 other locations.

  • How many offices does Progress Software have?

    Progress Software has 32 offices.