Progress Software Earnings Call Transcripts
Fiscal Year 2026
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The acquisition of Domo's AI and data platform business for a net price of $355 million aims to enhance AI data platform leadership, leverage complementary technologies, and drive margin improvements through integration. The deal is expected to close by November 2026, with limited customer overlap and strong retention rates.
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Q2 2026 results exceeded expectations with 7% revenue growth, strong margins, and robust cash flow. Guidance for the full year was raised, reflecting confidence in continued demand, especially for AI-driven products, and ongoing deleveraging and share repurchases.
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The meeting approved all board nominees, executive compensation, and share plan increases, and ratified the auditor. Fiscal 2025 delivered record revenue and EPS, driven by AI initiatives and acquisitions, with a strong start to 2026 and ongoing focus on growth and culture.
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Q1 2026 saw 4% revenue growth, 2% ARR growth, and 22% higher EPS, driven by AI innovation and strong execution. ShareFile integration and improved collections boosted cash flow, while isolated churn had minimal impact. Full-year guidance projects steady growth and margin strength.
Fiscal Year 2025
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Fiscal 2025 delivered record revenue and EPS, driven by ShareFile integration and AI innovation. Guidance for 2026 projects continued growth, strong cash flow, and steady operating margins, with ongoing investments in AI and disciplined M&A.
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Q3 results exceeded all guidance metrics, driven by strong AI-fueled demand and successful ShareFile integration. Revenue grew 40% year-over-year, ARR rose 47%, and EPS reached $1.50. Full-year guidance was raised, with continued focus on disciplined capital allocation.
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Q2 revenue grew 36% year-over-year to $237 million, with strong ARR and 100% net retention. ShareFile integration is ahead of schedule, Nuclia was acquired to boost GenAI capabilities, and full-year guidance was raised across all key metrics.
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ARR grew 48% year-over-year, with revenue up 29% and operating margin at 39%, driven by ShareFile integration and broad product strength. Guidance for 2025 remains strong, with continued focus on SaaS, AI, and disciplined capital allocation.
Fiscal Year 2024
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Q4 and FY 2024 results exceeded guidance, with strong ARR and revenue growth, high net retention, and successful ShareFile integration. FY 2025 guidance projects 27%-29% revenue growth, improved margins, and continued focus on debt repayment and SaaS expansion.
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A disciplined M&A-driven strategy targets infrastructure software firms with strong recurring revenue, aiming for rapid integration and margin expansion. Recent acquisitions, including ShareFile, are expected to boost revenue and profitability, while operational rigor and AI integration support customer retention and efficiency.
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Q3 results exceeded guidance with 2% revenue growth and 17% EPS growth year-over-year. Announced $875M ShareFile acquisition, expected to add $240M in annual revenue and ARR, with integration targeted within 12 months. SEC closed MOVEit probe with no action.
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The $875M acquisition of ShareFile adds a leading SaaS collaboration platform, expanding the digital experience portfolio and boosting ARR to over $800M. Integration is expected to be smooth, with a focus on raising margins and leveraging synergies, while the dividend is suspended to prioritize debt reduction and future M&A.
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Q2 revenue and EPS exceeded guidance, with strong cash flow and broad-based ARR growth. Full-year outlook was raised, reflecting confidence in demand and execution. AI and M&A remain strategic priorities, and the company continues to see a resilient market for its essential software.