Progress Software offers the leading platform for developing and deploying mission-critical business applications. The Company empowers enterprises and ISVs to build and deliver cognitive-first applications, that harness big data to derive business insights and competitive advantage. Progress offers leading technologies for easily building powerful user interfaces across any type of device, a reliable, scalable and secure backend platform to deploy modern applications, leading data connectivity to all sources, and award-winning predictive analytics that brings the power of machine learning to any organization.
Type
Public
HQ
Bedford, US
Founded
1981
Size (employees)
2,000 (est)+5%
Progress Software was founded in 1981 and is headquartered in Bedford, US
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Progress Software Office Locations

Progress Software has offices in Bedford and Rotterdam
Bedford, US (HQ)
14 Oak Park Dr
Rotterdam, NL (HQ)
67 Schorpioenstraat
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Progress Software Financials and Metrics

Progress Software Financials

Progress Software's revenue was reported to be $397.57 m in FY, 2017
USD

Revenue (FY, 2017)

397.6 m

Net income (FY, 2017)

37.4 m

EBIT (FY, 2017)

70.6 m

Market capitalization (25-Apr-2018)

1.8 b

Cash (30-Nov-2017)

133.5 m

EV

1.7 b
Progress Software's current market capitalization is $1.8 b.
Annual
USDFY, 2014FY, 2015FY, 2016FY, 2017

Revenue

332.5 m377.6 m405.3 m397.6 m

Revenue growth, %

14%7%

Cost of goods sold

34.3 m63.7 m65.7 m

Gross profit

298.3 m313.8 m339.6 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

77.6 m74.5 m80.8 m79.3 m81.4 m88.8 m94.6 m89.5 m96.1 m102 m91 m93.2 m97.3 m

Sales and marketing expense

24.6 m24.5 m24.4 m22.5 m30.8 m31.9 m30 m29.7 m29.1 m29.9 m25.7 m21.2 m23.2 m

General and administrative expense

13.7 m11.7 m11.4 m12.2 m14.3 m13.7 m14.1 m12.4 m12.3 m11.4 m10.6 m11.6 m11.2 m

R&D expense

14.6 m15.1 m15.5 m15 m22.8 m22.3 m20.4 m21.8 m22.3 m21.7 m17.3 m18.8 m19.6 m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

198.8 m263.1 m212.4 m207 m133.5 m

Accounts Receivable

66.8 m68.3 m66.5 m65.7 m61.2 m

Current Assets

337.8 m385.7 m323.4 m336.1 m263.4 m

PP&E

57 m59.4 m54.2 m50.1 m42.3 m
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

215.3 m219.4 m202 m242.4 m187 m166 m189.1 m203.7 m179.7 m188.1 m226.9 m197.9 m144.8 m

Accounts Receivable

53.6 m59 m58 m57.8 m59.6 m56.4 m60.3 m58.8 m48.3 m55.8 m48.9 m43.9 m51.9 m

Current Assets

335.6 m347.7 m321.1 m352.7 m312.3 m312.6 m330.4 m330.9 m299.4 m309 m336.9 m311.3 m261.6 m

PP&E

56.9 m60.9 m59.9 m59.2 m62 m57.7 m56.8 m53.5 m51.8 m50.8 m48.3 m44.9 m43.3 m
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

74.9 m49.5 m(8.8 m)(55.7 m)

Cash From Operating Activities

4.6 m107.7 m104.5 m102.8 m

Purchases of PP&E

(4.2 m)(8 m)(7.2 m)(5.8 m)

Cash From Investing Activities

118.8 m5.1 m(260.2 m)(21 m)
Quarterly
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

24.8 m11.1 m12.8 m11.1 m(971 k)4.8 m670 k3.2 m10.5 m18.1 m(525 k)9.8 m21 m

Accounts Payable

7.1 m10.2 m10.2 m9.4 m11.9 m9.6 m9.6 m9.5 m8.7 m

Cash From Operating Activities

57.9 m77.2 m22.5 m49.3 m68.9 m37.3 m59.7 m73.2 m

Purchases of PP&E

(4.4 m)(6.1 m)(1.4 m)(2.6 m)(3.7 m)(383 k)(523 k)(865 k)
USDY, 2017

EV/EBIT

24.7 x

EV/CFO

23.9 x

Revenue/Employee

207.9 k

Debt/Equity

0.3 x

Debt/Assets

0.2 x

Financial Leverage

1.9 x
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Progress Software Operating Metrics

Progress Software's Backlog was reported to be $159.4m in FY, 2017. Progress Software's Enterprise Customers was reported to be 100 k in FY, 2017.
Q1, 2014Q2, 2014Q3, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017FY, 2017

Backlog

$117.93 m$112.54 m$103.75 m$116.48 m$145.32 m$148.64 m$153.79 m$153.93 m$163.47 m$165.57 m$168.98 m$164.13 m$170.34 m$163.42 m$160.54 m$159.44 m

Enterprise Customers

100 k

Independent Software Vendors

1.70 k

Resellers

50
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Progress Software Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
Kinvey June 28, 2017$49 m
DataRPM (64)March 29, 2017$30 m
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Progress Software News and Updates

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