Progress Software Lifts FY26 Revenue Outlook to $1.044B-$1.052B
PRGS sits 63% above its 52-week low of $23.82 on elevated volume (2.0× avg).
Summary
Progress Software raised its fiscal 2026 revenue guidance to $1.044B-$1.052B, up from prior expectations. The company completed its $400M acquisition of Domo's AI and data platform business on September 22, which likely contributes to the higher outlook. This is the first update to full-year guidance since the Q2 report in June, when the company beat estimates and raised non-GAAP guidance. The new range implies continued growth momentum and integration benefits from the Domo deal. Progress Software sees fourth-quarter revenue of $297M-$305M and a fourth-quarter loss per share of 32c-41c. Q3 revenue fell on weakness in maintenance and SaaS. Traders will watch for margin commentary and any update on the share repurchase program when Q3 results are reported.
At the time of this announcement, PRGS was trading at $38.77 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.6B. The 52-week trading range was $23.82 to $47.37. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.