Quarterly ResultJun 30, 2026, 04:17 PM
Progress Software H1 Net Income +56.9% to $43.89M; Rev +5.4%
AI Summary
Progress Software reported strong financial results for the second quarter and first half of fiscal year 2026. Net income for the six months ended May 31, 2026, surged by 56.9% to $43.89 million, with diluted EPS increasing to $1.03. Total revenue grew 5.4% to $501.26 million, driven by a significant 25.0% increase in software licenses revenue. The company also repaid $360 million of its 2026 Convertible Senior Notes and continued its share repurchase program.
Key Highlights
- Net income for six months ended May 31, 2026, increased 56.9% to $43.89 million.
- Diluted EPS for six months ended May 31, 2026, increased 63.5% to $1.03.
- Total revenue for six months ended May 31, 2026, rose 5.4% to $501.26 million.
- Software licenses revenue for six months ended May 31, 2026, grew 25.0% to $136.56 million.
- Net cash provided by operating activities for six months ended May 31, 2026, was $177.46 million.
- Repurchased 1.7 million shares for $55.09 million during the six months ended May 31, 2026.
- Repaid $360 million of 2026 Convertible Senior Notes in April 2026.
- Contingent consideration for Nuclia acquisition adjusted to zero, resulting in a gain.
Price Impact
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