Progress Software Beats Q2 Estimates, Raises Full-Year Non-GAAP Guidance and Repurchases $35M in Shares
PRGS sits 47% above its 52-week low of $23.82.
Summary
Progress Software announced better-than-expected Q2 results and increased its full-year non-GAAP financial outlook, driven by strong demand for AI-powered offerings and continued capital allocation towards share repurchases and debt reduction.
Key Events · Earnings and Guidance · PRGS
-
Q2 Financial Outperformance
Revenue of $253 million and non-GAAP diluted EPS of $1.62 both exceeded prior guidance, with revenue growing 7% year-over-year.
-
Raised Full-Year Non-GAAP Guidance
The company increased its outlook for FY26 non-GAAP revenue, EPS, and free cash flow, reflecting confidence in continued performance.
-
Share Repurchases & Debt Reduction
Progress repurchased $35 million of shares in Q2 and repaid $50 million in debt, reducing its trailing twelve-month net leverage ratio to 2.9X.
-
AI-Powered Offerings Momentum
CEO Yogesh Gupta highlighted broad-based demand and continued momentum in AI-powered offerings as key drivers of performance.
Analysis · PRGS · Technology
Progress Software reported strong second-quarter results, exceeding revenue and non-GAAP earnings per share expectations. The company also raised its full-year non-GAAP guidance for revenue, EPS, and free cash flow, while actively repurchasing shares and reducing debt. However, the full-year GAAP EPS guidance was lowered, and the GAAP effective tax rate was increased, presenting a mixed outlook for GAAP profitability.
How filings like this one have moved
In the 30 days to Sep 30, 2026, 29.5% of the 1626 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PRGS was trading at $35.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $1.4B. The 52-week trading range was $23.82 to $65.50. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.