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, MA, US
Websiteprogress.com
Employee Ratings4.1
Overall CultureB

Latest Updates

Employees (est.) (Nov 2019)1,538(+9%)
Job Openings74
Revenue (FY, 2020)$442.2 M(+7%)
Share Price (Oct 2021)$50.2
Discover new suppliers and conduct deeper comparison analysis with Craft for EnterpriseLearn more
Banner background

Key People/Management at Progress Software

Yogesh Gupta

Yogesh Gupta

Chief Executive Officer & Director
Anthony Folger

Anthony Folger

Chief Financial Officer
John Ainsworth

John Ainsworth

SVP, Core Products
Stephen Faberman

Stephen Faberman

Chief Legal Officer
Nikki Scaplen

Nikki Scaplen

Director, Creative Services
Gary Quinn

Gary Quinn

SVP, Core Field Organization
Show more

Progress Software Office Locations

Progress Software has offices in Bedford, Alpharetta, Burlington, Madison and in 27 other locations
Bedford, MA, US (HQ)
14 Oak Park Dr
Alpharetta, GA, US
100 North Point Center E #560
Burlington, MA, US
15 Wayside Rd #400
Madison, WI, US
525 Junction Rd #8500
Morrisville, NC, US
3005 Carrington Mill Blvd #400
Novi, MI, US
39555 Orchard Hill Pl #600
Show all (32)

Progress Software Financials and Metrics

Progress Software Revenue

Embed Graph
View revenue for all periods
Progress Software's revenue was reported to be $442.15 m in FY, 2020
USD

Revenue (Q2, 2021)

30.1m

Gross profit (Q2, 2021)

29.1m

Gross profit margin (Q2, 2021), %

96.6%

Market capitalization (15-Oct-2021)

2.2b

Closing stock price (15-Oct-2021)

50.2

Cash (31-May-2021)

357.4m

EV

2.4b
Progress Software's current market capitalization is $2.2 b.
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Revenue

405.3m397.6m397.2m413.3m442.2m

Revenue growth, %

7%(2%)0%4%

Cost of goods sold

65.7m69.2m67.0m75.2m62.1m

Gross profit

339.6m328.4m330.2m338.1m380.0m
Quarterly
USDQ1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021

Revenue

91.0m93.2m97.3m94.0m96.1m95.7m89.5m100.0m106.7m109.7m100.4m27.5m121.3m30.1m

Cost of goods sold

15.8m17.4m18.1m16.9m16.6m16.7m16.0m17.6m20.8m14.9m14.3m1.1m18.0m1.0m

Gross profit

75.2m75.8m79.2m77.1m79.5m79.0m73.5m82.4m85.9m94.8m86.1m26.4m103.3m29.1m

Gross profit Margin, %

83%81%81%82%83%83%82%82%80%86%86%96%85%97%
Annual
USDFY, 2016FY, 2017FY, 2018FY, 2019FY, 2020

Net Income

(55.7m)37.4m63.5m26.4m79.7m

Depreciation and Amortization

39.3m42.9m44.5m56.7m34.8m

Accounts Payable

(3.1m)673.0k(11.8m)9.1m(5.0m)

Cash From Operating Activities

102.8m105.7m121.4m128.5m144.8m
Quarterly
USDFY, 2016

Revenue/Employee

212.0k

Debt/Equity

0.3 x

Debt/Assets

0.2 x

Financial Leverage

1.9 x
Show all financial metrics

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$164.4 m$158.51 m$149.45 m

Remaining Performance Obligations

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

Independent Software Vendors

1.7 k1.7 k1.7 k1.7 k1.7 k1.7 k1.7 k1.7 k1.7 k1.7 k1.7 k

Enterprise Customers

80 k100 k100 k100 k100 k100 k100 k100 k100 k100 k100 k
Show all operating metrics

Progress Software Acquisitions / Subsidiaries

Company NameDateDeal Size
ChefSeptember 08, 2020$220 m
IpswitchApril 01, 2019$225 m
KinveyJune 28, 2017$49 m
DataRPMMarch 29, 2017$30 m
OneBit SoftwareAugust 03, 2016
TelerikOctober 22, 2014$262.5 m
BravePointOctober 01, 2014
ModulusJune 09, 2014
RollbaseJune 10, 2013$13.5 m
Corticon TechnologiesDecember 05, 2011
Show more

Progress Software Revenue Breakdown

Embed Graph

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

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

Progress Software Online and Social Media Presence

Embed Graph

Progress Software Company Culture

  • Overall Culture

    B

    71/100

  • CEO Rating

    B

    70/100

  • Compensation

    A

    82/100

Learn more on Comparably

Progress Software News and Updates

Thinking about trading options or stock in Carnival Corp, American Airlines, Exxon Mobil, Progress Software, or Overstock.com?

NEW YORK, Sept. 27, 2021 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for CCL, AAL, XOM, PRGS, and OSTK. Click a link below then choose between in-depth options trade idea report or a stock score report. Options Report – Ideal trade ideas on up to seven different...

Progress Software to Report Third Quarter Financial Results on September 23, 2021

BEDFORD, Mass., Sept. 09, 2021 (GLOBE NEWSWIRE) -- Progress (NASDAQ: PRGS), the leading provider of products to develop, deploy and manage high-impact business applications, today announced that it will release financial results for its fiscal third quarter after the market close on Thursday, Sept…

Earnings Results: Progress Software stock slips as quarterly outlook weighs on earnings beat

Progress Software Corp. shares were hobbled in the extended session Thursday after the business software company provided a disappointing quarterly outlook while otherwise topping expectations.

Progress Software to Report Second Quarter Financial Results on June 24, 2021

BEDFORD, Mass., June 10, 2021 (GLOBE NEWSWIRE) -- Progress (NASDAQ: PRGS), the leading provider of products to develop, deploy and manage high-impact business applications, today announced that it will release financial results for its fiscal second quarter, after the market close on Thursday, Jun…

Mobilize.Net, Progress Software, Uno Platform, DevExpress and Others to Sponsor #MSBuild Wrap Up Show on May 28, 10AM-5PM EDT

BELLEVUE, Wash., May 26, 2021 /PRNewswire/ -- Mobilize.Net and 7 other technology companies today announced #MSBuild Wrap Up Show on May 28, 2021, 10AM-5PM EDT. The livestream which will be hosted by Jeff Fritz on twitch.tv/csharpfritz will feature popular developer tools personalities...

Progress Software Announces Upsize and Pricing of Convertible Senior Notes Offering

BEDFORD, Mass., April 08, 2021 (GLOBE NEWSWIRE) -- Progress Software Corporation (NASDAQ: PRGS) (“Progress”) today announced the pricing of its private offering of $325.0 million aggregate principal amount of 1.00% Convertible Senior Notes due 2026 (the “Notes”) to persons reasonably believed to b…
Show more

Progress Software Blogs

Progress Announces Accelerated ’21 Partner Conference

Progress Announces Accelerated ’21 Partner Conference Content Import Fri, 10/08/2021 - 15:00 Progress Announces Accelerated ’21 Partner Conference Oct 08, 2021 This release is a backfill from a News Wire General Event will bring toge…

Progress Announces Third Quarter 2021 Financial Results

Q3 Revenue and EPS Significantly Ahead of Guidance Full Year 2021 Guidance Raised Again BEDFORD, Mass. , Sept. 23, 2021 (GLOBE NEWSWIRE) -- Progress (NASDAQ: PRGS), the leading provider of products to develop, deploy and manage high-impact business applications, today announced financial results

Progress Announces Acquisition of Kemp, Adding Application Experience to Industry-Leading Product Portfolio

Progress continues to deliver on its total growth strategy with acquisition that meets its financial criteria, has complementary products and a loyal customer base BEDFORD, Mass. , Sept. 23, 2021 (GLOBE NEWSWIRE) -- Progress (NASDAQ: PRGS), the leading provider of products to develop, deploy and

Progress Accelerates App Development with 50+ New UI Components Across Its .NET and JavaScript UI Libraries, with Support for the Design/Development Lifecycle and the Latest in .NET

Progress Accelerates App Development with 50+ New UI Components Across Its .NET and JavaScript UI Libraries, with Support for the Design/Development Lifecycle and the Latest in .NET Content Import Wed, 09/15/2021 - 12:21 Progress Accelerates App Development with 50+ New UI Components Acros…

Progress to Participate in the Oppenheimer 24th Annual Technology, Internet & Communications Conference

Progress to Participate in the Oppenheimer 24th Annual Technology, Internet & Communications Conference Content Import Thu, 08/05/2021 - 12:21 Progress to Participate in the Oppenheimer 24th Annual Technology, Internet & Communications Conference Aug 05, 2021 …

Progress Announces Two-Day Virtual Event: Exceed DXpectations Masterclass

Top executives from World Health Organization , National PTA, The Henry Ford and more will discuss creating exceptional digital experiences that drive business growth and customer loyalty BEDFORD, Mass. , June 25, 2021 (GLOBE NEWSWIRE) -- Progress (NASDAQ: PRGS), the leading provider of products to
Show more

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 John Ainsworth.

  • How many employees does Progress Software have?

    Progress Software has 1,538 employees.

  • What is Progress Software revenue?

    Latest Progress Software annual revenue is $442.2 m.

  • What is Progress Software revenue per employee?

    Latest Progress Software revenue per employee is $287.5 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, Burlington, Madison and in 27 other locations.

  • How many offices does Progress Software have?

    Progress Software has 32 offices.