Progress Software Q3 10-Q: $22.8M Net Income, Domo Deal Closed, MOVEit Litigation Narrows
PRGS sits 60% above its 52-week low of $23.82 on elevated volume (2.1× avg).
Summary
Progress Software's Q3 10-Q confirms the earnings beat and provides full financials: $22.8M net income, $1.23B total debt after the Domo acquisition, and a narrowed MOVEit litigation docket with 23 of 33 claims dismissed.
Key Events · Earnings and Guidance · PRGS
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Q3 FY26 Net Income $22.8M
GAAP diluted EPS of $0.55 on revenue of $246.0M, up from $0.44 EPS on $249.8M revenue in Q3 FY25. Nine-month net income rose to $66.7M from $47.4M.
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Domo Acquisition Closed, Debt Rises
The $400M all-cash Domo acquisition closed September 22, 2026, funded by $390M drawn on the revolver. Total debt at Aug 31, 2026 was $1.23B, up from $1.40B at Nov 30, 2025 after the 2026 Notes redemption.
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MOVEit Litigation Narrows
23 of 33 bellwether claims dismissed in whole or part. Class certification filed Aug 28, 2026; fact discovery concluded Sep 29, 2026. No loss contingency recorded; all $15M cyber insurance exhausted.
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Share Repurchases Continue
Repurchased 2.2M shares for $71.6M in 9M FY26 at an average $34.50/share. $130.7M remains under the current authorization.
Analysis · PRGS · Technology
Progress Software's Q3 FY26 10-Q confirms the earnings beat already announced today, but adds the full balance sheet and critical disclosures. Total debt stands at $1.23B after the $400M Domo acquisition closed September 22, funded by drawing $390M on the revolver — leverage is the key risk to watch. The MOVEit litigation shows meaningful progress: 23 of 33 bellwether claims dismissed, though class certification is still pending and no loss contingency has been recorded. The company repurchased $71.6M of stock in the first nine months, signaling management confidence despite the debt load.
How filings like this one have moved
In the 30 days to Oct 4, 2026, 29.1% of the 1575 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.60%. 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 $38.00 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 filing was assessed with neutral market sentiment and an importance score of 7 out of 10.