Progress Software (PRGS) Financials

$27.81 +1.01 (+3.77%)

Closing price 04:00 PM Eastern

Extended Trading

$27.82 +0.01 (+0.02%)

As of 04:44 PM Eastern

Annual Income Statements for Progress Software

This table shows Progress Software's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/30/2015	11/30/2016	11/30/2017	11/30/2018	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
Net Income / (Loss) Attributable to Common Shareholders	-8.80	624	669	674	339	80	78	95	70	68	73
Consolidated Net Income / (Loss)	-8.80	-56	29	50	26	80	78	95	70	68	73
Net Income / (Loss) Continuing Operations	-8.80	624	669	674	339	80	78	95	70	68	73
Total Pre-Tax Income	12	-35	52	61	28	97	96	117	80	94	82
Total Operating Income	15	-30	57	68	40	108	116	132	111	124	153
Total Gross Profit	314	679	640	624	312	380	453	508	568	623	790
Total Revenue	378	811	778	758	413	442	531	602	694	753	978
Operating Revenue	378	811	778	758	413	442	531	602	694	753	978
Total Cost of Revenue	64	131	138	134	101	62	78	94	127	130	188
Operating Cost of Revenue	64	131	138	134	101	62	78	94	127	130	188
Total Operating Expenses	299	30	-57	-68	298	272	337	375	457	499	637
Selling, General & Admin Expense	57	47	48	51	53	54	65	78	83	90	108
Marketing Expense	125	122	101	93	102	100	126	141	156	165	211
Research & Development Expense	87	89	77	80	89	89	103	115	132	146	192
Amortization Expense	13	13	13	13	22	20	32	47	66	65	104
Other Operating Expenses / (Income)	-	340	320	317	-338	0.00	0.00	0.60	6.16	5.64	2.78
Restructuring Charge	17	2.93	24	2.51	7.99	9.54	10	5.48	13	28	18
Total Other Income / (Expense), net	-2.40	-5.57	-5.03	-7.02	-12	-11	-21	-15	-31	-30	-72
Interest Expense	3.79	4.18	4.63	5.15	9.91	10	20	16	31	32	71
Other Income / (Expense), net	1.39	-1.39	-0.40	-1.87	-1.68	-0.92	-0.52	0.91	-0.09	2.27	-0.81
Income Tax Expense	21	20	23	11	2.10	17	17	22	9.46	26	8.50
Basic Earnings per Share	($0.17)	($1.13)	$0.60	$1.09	$0.59	$1.78	$1.79	$2.19	$1.62	$1.58	$1.70
Weighted Average Basic Shares Outstanding	50.39M	49.48M	48.13M	45.56M	44.79M	44.89M	43.92M	43.48M	43.46M	43.27M	43.00M
Diluted Earnings per Share	($0.17)	($1.13)	$0.60	$1.08	$0.58	$1.76	$1.76	$2.15	$1.57	$1.54	$1.66
Weighted Average Diluted Shares Outstanding	50.39M	49.48M	48.52M	46.14M	45.34M	45.32M	44.62M	44.25M	44.66M	44.43M	44.02M
Weighted Average Basic & Diluted Shares Outstanding	51.80M	49.30M	48M	45.70M	45.10M	44.22M	44.18M	43.35M	43.88M	43.37M	42.11M
Cash Dividends to Common per Share	$0.00	$0.13	$0.52	$0.58	$0.63	$0.67	$0.70	$0.70	$0.70	$0.53	$0.00

This table shows Progress Software's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
Net Income / (Loss) Attributable to Common Shareholders	19	15	23	16	28	1.15	11	17	19	26	23
Consolidated Net Income / (Loss)	19	15	23	16	28	1.15	11	17	19	26	23
Net Income / (Loss) Continuing Operations	19	15	23	16	28	1.15	11	17	19	26	23
Total Pre-Tax Income	21	14	28	20	34	12	13	20	26	22	30
Total Operating Income	29	23	35	27	40	22	32	39	44	38	46
Total Gross Profit	142	143	152	143	150	178	192	190	202	206	204
Total Revenue	175	177	185	175	179	215	238	237	250	253	248
Operating Revenue	175	177	185	175	179	215	238	237	250	253	248
Total Cost of Revenue	33	34	33	32	29	37	46	47	48	47	44
Operating Cost of Revenue	33	34	33	32	29	37	46	47	48	47	44
Total Operating Expenses	113	121	117	116	109	157	159	151	158	168	157
Selling, General & Admin Expense	21	22	21	22	21	26	26	26	28	29	27
Marketing Expense	39	44	39	38	37	50	51	50	52	58	52
Research & Development Expense	33	34	35	35	35	41	46	47	49	50	50
Amortization Expense	18	18	17	16	14	18	26	26	26	26	26
Other Operating Expenses / (Income)	0.95	1.04	0.99	3.04	0.93	0.69	0.74	0.73	0.66	0.65	1.36
Restructuring Charge	1.54	2.45	3.05	1.20	2.17	21	9.52	2.77	1.72	4.41	1.52
Total Other Income / (Expense), net	-8.42	-8.37	-7.40	-7.02	-6.07	-9.25	-19	-19	-18	-16	-16
Interest Expense	8.53	7.89	7.34	7.01	6.77	11	18	18	18	17	15
Other Income / (Expense), net	0.11	-0.48	-0.06	-0.01	0.70	1.65	-0.70	-0.61	0.07	0.43	-0.93
Income Tax Expense	1.85	-1.16	4.97	3.94	5.82	11	2.36	2.84	6.79	-3.49	7.48
Basic Earnings per Share	$0.44	$0.35	$0.52	$0.37	$0.66	$0.03	$0.25	$0.40	$0.45	$0.60	$0.54
Weighted Average Basic Shares Outstanding	43.45M	43.46M	43.80M	43.21M	42.87M	43.27M	43.26M	43.05M	42.99M	43.00M	42.16M
Diluted Earnings per Share	$0.42	$0.35	$0.51	$0.37	$0.65	$0.01	$0.24	$0.39	$0.44	$0.59	$0.53
Weighted Average Diluted Shares Outstanding	44.98M	44.66M	44.83M	43.96M	43.71M	44.43M	44.89M	44.16M	43.72M	44.02M	42.73M
Weighted Average Basic & Diluted Shares Outstanding	43.57M	43.88M	43.22M	42.78M	42.91M	43.37M	43.03M	43.11M	42.91M	42.11M	42.08M

This table details how cash moves in and out of Progress Software's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/30/2015	11/30/2016	11/30/2017	11/30/2018	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
Net Change in Cash & Equivalents	-51	-5.34	-74	-28	49	-56	57	101	-129	-8.88	-23
Net Cash From Operating Activities	105	103	106	121	128	145	179	192	174	211	235
Net Cash From Continuing Operating Activities	105	103	106	121	128	145	179	192	174	211	235
Net Income / (Loss) Continuing Operations	-8.80	-56	29	50	26	80	78	95	70	68	73
Consolidated Net Income / (Loss)	-8.80	-56	29	50	26	80	78	95	70	68	73
Depreciation Expense	9.39	8.51	7.53	6.94	7.55	6.14	5.48	5.00	6.35	6.43	6.23
Amortization Expense	32	31	35	38	49	29	56	72	99	100	151
Non-Cash Adjustments To Reconcile Net Income	28	119	14	26	48	32	40	35	50	59	80
Changes in Operating Assets and Liabilities, net	44	0.20	20	0.81	-2.92	-2.03	-1.46	-15	-52	-23	-76
Net Cash From Investing Activities	-260	-21	-88	7.59	-208	-207	-250	22	-360	-858	-27
Net Cash From Continuing Investing Activities	-260	-21	-88	7.59	-208	-207	-250	22	-360	-858	-27
Purchase of Property, Plant & Equipment	-8.85	-5.79	-3.38	-7.25	-4.00	-6.52	-4.65	-6.09	-5.57	-5.21	-5.70
Acquisitions	-246	0.00	-77	0.00	-225	-213	-254	0.00	-355	-853	-21
Purchase of Investments	-24	-42	-40	-8.26	-11	-5.01	0.00	0.00	-15	0.00	0.00
Sale and/or Maturity of Investments	15	26	32	23	25	16	5.95	1.95	16	0.00	0.00
Net Cash From Financing Activities	118	-82	-103	-147	130	3.08	132	-101	51	641	-238
Net Cash From Continuing Financing Activities	118	-82	-103	-147	130	3.08	132	-101	51	641	-238
Repayment of Debt	-7.41	-9.38	-12	-6.19	-6.92	-11	-117	-6.87	-92	-378	-136
Repurchase of Common Equity	-33	-79	-74	-120	-25	-60	-36	-79	-34	-87	-105
Payment of Dividends	0.00	0.00	-24	-26	-28	-30	-32	-31	-32	-31	-0.79
Issuance of Debt	150	-	0.00	0.00	185	99	350	7.48	195	1,169	0.00
Issuance of Common Equity	13	9.92	10	9.21	9.27	11	15	16	26	28	19
Other Financing Activities, net	-4.49	-3.55	-2.85	-4.00	-4.28	-5.33	-48	-7.82	-12	-59	-15
Effect of Exchange Rate Changes	-13	-4.99	-	-11	-	3.10	-2.89	-	5.96	-3.29	6.83
Cash Interest Paid	2.73	3.16	3.60	4.22	8.67	9.18	8.54	8.57	24	22	64
Cash Income Taxes Paid	17	22	26	25	16	16	26	29	40	32	34

This table details how cash moves in and out of Progress Software's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
Net Change in Cash & Equivalents	12	-11	6.26	57	42	-115	6.08	-22	-3.00	-4.20	18
Net Cash From Operating Activities	46	33	71	64	58	20	69	30	73	63	99
Net Cash From Continuing Operating Activities	46	33	71	64	58	20	69	30	73	63	99
Net Income / (Loss) Continuing Operations	19	15	23	16	28	1.15	11	17	19	26	23
Consolidated Net Income / (Loss)	19	15	23	16	28	1.15	11	17	19	26	23
Depreciation Expense	1.52	1.66	1.59	1.58	1.64	1.62	1.62	1.60	1.54	1.48	1.50
Amortization Expense	26	26	26	26	21	27	38	38	39	37	36
Non-Cash Adjustments To Reconcile Net Income	13	13	17	14	13	15	19	20	20	21	23
Changes in Operating Assets and Liabilities, net	-14	-23	3.24	5.68	-6.78	-25	-0.66	-46	-6.45	-22	15
Net Cash From Investing Activities	-0.37	-2.39	-0.31	-0.96	-1.06	-856	-2.49	-0.50	-21	-3.43	-2.71
Net Cash From Continuing Investing Activities	-0.37	-2.39	-0.31	-0.96	-1.06	-856	-2.49	-0.50	-21	-3.43	-2.71
Purchase of Property, Plant & Equipment	-1.21	-2.39	-0.31	-0.96	-1.06	-2.88	-1.29	-0.50	-1.06	-2.86	-2.71
Acquisitions	0.85	-	0.00	-	-	-853	-1.20	-	-19	-0.56	0.00
Net Cash From Financing Activities	-36	-42	-62	-5.38	-17	726	-59	-59	-58	-63	-79
Net Cash From Continuing Financing Activities	-36	-42	-62	-5.38	-17	726	-59	-59	-58	-63	-79
Repayment of Debt	-32	-32	-33	-345	-	-	-30	-40	-46	-20	-60
Repurchase of Common Equity	-	-3.96	-23	-50	-14	-	-30	-20	-15	-40	-20
Payment of Dividends	-7.80	-7.89	-8.17	-7.95	-7.69	-7.65	-0.36	-0.30	-	-0.13	-0.20
Issuance of Common Equity	4.01	5.58	7.58	5.31	4.58	10	6.24	6.52	3.28	2.93	5.44
Other Financing Activities, net	-	-4.28	-5.89	-47	-0.04	-6.54	-4.64	-5.46	-	-5.08	-3.71
Effect of Exchange Rate Changes	-	-	-	-0.15	3.18	-4.81	-	7.58	1.75	-0.99	1.32
Cash Interest Paid	6.83	6.24	5.57	2.39	-	14	12	21	11	19	8.36
Cash Income Taxes Paid	8.69	25	3.18	3.17	9.52	17	3.12	3.62	6.67	21	4.17

This table presents Progress Software's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/30/2015	11/30/2016	11/30/2017	11/30/2018	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
Total Assets	877	755	719	644	881	1,042	1,364	1,411	1,603	2,527	2,458
Total Current Assets	323	336	263	232	285	239	338	426	331	369	400
Cash & Equivalents	212	207	133	105	154	98	155	256	127	118	95
Accounts Receivable	66	66	61	60	84	109	126	127	156	164	242
Other Current Assets	16	21	19	32	27	24	55	43	48	87	63
Plant, Property, & Equipment, net	54	50	42	31	30	30	14	15	15	14	14
Total Noncurrent Assets	499	369	413	382	567	773	1,011	970	1,257	2,144	2,044
Noncurrent Note & Lease Receivables	-	-	-	-	12	17	17	40	28	29	30
Goodwill	370	278	315	315	433	492	671	671	832	1,292	1,309
Intangible Assets	114	81	95	59	99	213	287	217	354	724	584
Noncurrent Deferred & Refundable Income Taxes	11	6.60	1.12	0.97	19	14	1.42	12	15	56	77
Other Noncurrent Operating Assets	4.42	3.17	1.99	7.05	3.53	37	34	30	27	44	44
Total Liabilities & Shareholders' Equity	877	755	719	644	881	1,042	1,364	1,411	1,603	2,527	2,458
Total Liabilities	355	348	343	320	551	696	951	1,013	1,143	2,088	1,979
Total Current Liabilities	200	204	208	186	241	263	323	318	352	455	810
Short-Term Debt	9.38	15	5.82	5.82	11	18	26	6.23	13	0.00	359
Accounts Payable	11	13	9.00	11	11	9.98	9.68	9.28	12	14	16
Accrued Expenses	21	13	20	13	19	16	19	17	22	35	30
Current Deferred Revenue	125	129	133	-	157	166	205	228	236	332	325
Current Employee Benefit Liabilities	30	26	32	26	34	37	47	42	50	65	72
Other Current Liabilities	-	-	-	123	0.00	7.02	7.93	7.47	10	9.20	8.49
Total Noncurrent Liabilities	155	144	135	134	310	433	628	695	791	1,633	1,170
Long-Term Debt	135	120	116	110	284	364	535	612	711	1,526	1,041
Noncurrent Deferred Revenue	8.84	8.80	9.75	13	20	27	47	55	59	72	100
Noncurrent Deferred & Payable Income Tax Liabilities	7.11	3.90	2.81	5.80	-	0.00	14	4.63	3.57	2.28	1.16
Other Noncurrent Operating Liabilities	3.79	12	5.97	5.32	6.35	42	32	24	18	32	27
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Total Equity & Noncontrolling Interests	522	407	376	324	330	346	412	399	460	439	478
Total Preferred & Common Equity	522	407	376	324	330	346	412	399	460	439	478
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	522	407	376	324	330	346	412	399	460	439	478
Common Stock	228	239	250	267	296	306	355	332	371	355	384
Retained Earnings	319	196	145	85	64	73	90	102	121	120	127
Accumulated Other Comprehensive Income / (Loss)	-25	-29	-19	-28	-30	-33	-32	-35	-32	-36	-33

This table presents Progress Software's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	8/31/2022	2/28/2023	5/31/2023	8/31/2023	2/29/2024	5/31/2024	8/31/2024	2/28/2025	5/31/2025	8/31/2025	2/28/2026
Total Assets	1,346	1,644	1,602	1,597	1,548	1,586	1,620	2,462	2,414	2,422	2,395
Total Current Assets	364	293	281	303	297	343	389	341	326	336	370
Cash & Equivalents	224	108	126	138	133	190	233	124	102	99	113
Accounts Receivable	110	127	120	131	118	116	123	162	140	151	148
Other Current Assets	29	43	35	33	46	37	33	55	84	85	109
Plant, Property, & Equipment, net	13	15	15	16	14	13	13	13	12	13	15
Total Noncurrent Assets	968	1,336	1,306	1,278	1,236	1,230	1,219	2,109	2,075	2,073	2,010
Noncurrent Note & Lease Receivables	26	48	39	33	34	32	35	30	30	31	28
Goodwill	673	812	826	826	833	833	833	1,294	1,294	1,309	1,309
Intangible Assets	233	441	405	379	328	305	285	686	651	619	550
Noncurrent Deferred & Refundable Income Taxes	5.74	1.40	4.37	12	19	33	41	57	62	69	75
Other Noncurrent Operating Assets	30	34	33	29	23	28	26	40	39	45	47
Total Liabilities & Shareholders' Equity	1,346	1,644	1,602	1,597	1,548	1,586	1,620	2,462	2,414	2,422	2,395
Total Liabilities	979	1,230	1,183	1,152	1,086	1,185	1,194	2,031	1,961	1,944	1,896
Total Current Liabilities	280	337	323	325	312	307	315	429	750	770	788
Short-Term Debt	6.23	7.95	9.67	11	0.00	0.00	0.00	-	358	359	360
Accounts Payable	7.72	10	7.16	8.73	9.92	8.58	11	15	9.04	13	14
Accrued Expenses	17	23	27	25	18	19	25	33	25	28	30
Current Deferred Revenue	197	245	228	220	233	227	218	329	308	299	331
Current Employee Benefit Liabilities	36	33	34	42	33	35	44	43	42	63	45
Other Current Liabilities	7.44	9.32	10	10	9.82	9.45	8.87	8.98	8.25	8.79	8.81
Total Noncurrent Liabilities	700	893	860	828	774	877	879	1,602	1,211	1,174	1,108
Long-Term Debt	613	804	776	744	691	794	795	1,497	1,100	1,061	982
Noncurrent Deferred Revenue	54	57	56	60	64	65	67	72	80	82	94
Noncurrent Deferred & Payable Income Tax Liabilities	5.71	5.55	4.55	4.24	3.63	3.71	3.77	2.29	2.48	2.60	1.18
Other Noncurrent Operating Liabilities	27	26	23	20	15	15	13	31	28	29	31
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	367	413	419	445	462	402	426	432	453	478	499
Total Preferred & Common Equity	367	413	419	445	462	402	426	432	453	478	499
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	367	413	419	445	462	402	426	432	453	478	499
Common Stock	319	339	348	362	373	331	339	353	363	372	398
Retained Earnings	87	108	104	115	123	106	119	116	123	138	133
Accumulated Other Comprehensive Income / (Loss)	-39	-34	-33	-32	-34	-35	-33	-38	-33	-32	-33

This table displays calculated financial ratios and metrics derived from Progress Software's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	11/30/2015	11/30/2016	11/30/2017	11/30/2018	11/30/2019	11/30/2020	11/30/2021	11/30/2022	11/30/2023	11/30/2024	11/30/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	13.54%	114.72%	-3.99%	-2.61%	-45.47%	6.98%	20.17%	13.31%	15.35%	8.49%	29.79%
EBITDA Growth	-38.27%	-85.79%	1,116.57%	10.46%	-13.91%	48.88%	24.86%	18.74%	2.78%	7.93%	33.15%
EBIT Growth	-79.40%	-292.68%	283.57%	15.50%	-41.76%	178.08%	8.22%	15.11%	-16.99%	14.34%	20.75%
NOPAT Growth	-120.48%	-97.86%	252.92%	74.22%	-32.97%	139.31%	7.23%	12.41%	-9.09%	-7.57%	52.55%
Net Income Growth	-117.79%	-533.18%	152.08%	71.15%	-46.85%	201.98%	-1.63%	21.23%	-26.16%	-2.51%	6.86%
EPS Growth	-117.71%	-564.71%	153.10%	80.00%	-46.30%	203.45%	0.00%	22.16%	-26.98%	-1.91%	7.79%
Operating Cash Flow Growth	-2.93%	-1.62%	2.76%	14.82%	5.88%	12.74%	23.25%	7.63%	-9.49%	21.60%	11.20%
Free Cash Flow Firm Growth	-460.85%	160.66%	-91.82%	687.47%	-265.77%	27.49%	-17.97%	266.02%	-223.00%	-247.12%	128.97%
Invested Capital Growth	63.69%	-29.99%	7.74%	-4.18%	49.17%	37.40%	30.60%	-6.67%	38.61%	73.40%	-3.42%
Revenue Q/Q Growth	4.09%	102.50%	-3.26%	-28.40%	-47.60%	214.60%	8.73%	-1.30%	2.94%	5.31%	4.01%
EBITDA Q/Q Growth	-2.32%	-90.96%	418.54%	-5.67%	-10.48%	17.63%	4.48%	5.80%	-0.14%	0.70%	9.13%
EBIT Q/Q Growth	-30.73%	-160.89%	364.74%	-8.23%	-30.43%	31.67%	1.33%	8.64%	-7.64%	0.87%	11.44%
NOPAT Q/Q Growth	-164.28%	-316.21%	320.98%	4.27%	-32.53%	52.62%	0.68%	6.49%	-3.43%	-16.18%	48.56%
Net Income Q/Q Growth	-158.15%	-748.43%	-71.62%	-86.02%	131.08%	129.90%	142.79%	-22.42%	-10.66%	-17.17%	50.68%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.69%	-10.29%	-18.09%	53.70%
Operating Cash Flow Q/Q Growth	-10.20%	6.84%	-1.33%	-6.32%	10.56%	4.44%	0.66%	-1.93%	-3.86%	-6.00%	22.47%
Free Cash Flow Firm Q/Q Growth	0.22%	60.25%	-84.16%	-24.26%	21.05%	-171.32%	-75.13%	290.42%	0.47%	-481.73%	128.27%
Invested Capital Q/Q Growth	-6.64%	-25.28%	-2.49%	5.53%	-6.56%	45.51%	41.07%	-0.12%	-0.50%	85.33%	-0.79%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	83.12%	83.79%	82.23%	82.33%	75.53%	85.95%	85.23%	84.30%	81.77%	82.68%	80.82%
EBITDA Margin	15.31%	1.01%	12.85%	14.57%	23.01%	32.02%	33.27%	34.86%	31.07%	30.91%	31.71%
Operating Margin	3.91%	-3.66%	7.39%	8.95%	9.70%	24.36%	21.85%	21.95%	15.92%	16.46%	15.68%
EBIT Margin	4.28%	-3.84%	7.34%	8.70%	9.29%	24.16%	21.75%	22.10%	15.90%	16.76%	15.59%
Profit (Net Income) Margin	-2.33%	-6.87%	3.73%	6.55%	6.39%	18.03%	14.76%	15.79%	10.11%	9.08%	7.48%
Tax Burden Percent	-71.24%	157.95%	55.32%	81.70%	92.65%	82.50%	82.09%	81.08%	88.12%	72.60%	89.59%
Interest Burden Percent	76.53%	113.43%	91.89%	92.19%	74.19%	90.48%	82.66%	88.13%	72.13%	74.65%	53.53%
Effective Tax Rate	171.24%	0.00%	44.68%	18.30%	7.35%	17.50%	17.91%	18.92%	11.88%	27.40%	10.41%
Return on Invested Capital (ROIC)	-3.07%	-5.75%	10.28%	17.63%	9.69%	16.32%	13.11%	13.46%	10.62%	6.18%	7.57%
ROIC Less NNEP Spread (ROIC-NNEP)	-3.97%	28.23%	13.67%	33.66%	-9.46%	11.89%	8.25%	10.37%	5.05%	4.04%	2.83%
Return on Net Nonoperating Assets (RNNOA)	1.41%	-6.25%	-2.86%	-3.44%	-1.62%	7.26%	7.57%	9.98%	5.73%	9.05%	8.38%
Return on Equity (ROE)	-1.65%	-12.00%	7.42%	14.19%	8.07%	23.58%	20.68%	23.45%	16.36%	15.23%	15.95%
Cash Return on Invested Capital (CROIC)	-51.37%	29.53%	2.82%	21.90%	-29.78%	-15.19%	-13.43%	20.36%	-21.74%	-47.51%	11.04%
Operating Return on Assets (OROA)	2.04%	-3.81%	7.75%	9.68%	5.04%	11.11%	9.61%	9.59%	7.33%	6.12%	6.12%
Return on Assets (ROA)	-1.11%	-6.83%	3.94%	7.29%	3.46%	8.29%	6.52%	6.85%	4.66%	3.31%	2.93%
Return on Common Equity (ROCE)	-1.65%	-12.00%	7.42%	14.19%	8.07%	23.58%	20.68%	23.45%	16.36%	15.23%	15.95%
Return on Equity Simple (ROE_SIMPLE)	-1.68%	-13.70%	7.72%	15.33%	7.99%	23.04%	19.01%	23.86%	15.27%	15.60%	0.00%
Net Operating Profit after Tax (NOPAT)	-11	-21	32	55	37	89	95	107	97	90	137
NOPAT Margin	-2.78%	-2.57%	4.09%	7.31%	8.99%	20.10%	17.94%	17.80%	14.03%	11.95%	14.05%
Net Nonoperating Expense Percent (NNEP)	0.90%	-33.98%	-3.40%	-16.04%	19.16%	4.43%	4.86%	3.09%	5.58%	2.14%	4.73%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	10.54%	8.23%	4.58%	7.31%
Cost of Revenue to Revenue	16.88%	16.21%	17.77%	17.67%	24.47%	14.05%	14.77%	15.70%	18.23%	17.32%	19.18%
SG&A Expenses to Revenue	15.18%	5.74%	6.14%	6.67%	12.91%	12.21%	12.26%	12.94%	11.97%	11.88%	11.07%
R&D to Revenue	23.02%	10.93%	9.89%	10.52%	21.43%	20.04%	19.45%	19.03%	19.07%	19.42%	19.66%
Operating Expenses to Revenue	79.21%	3.66%	-7.39%	-8.95%	72.10%	61.59%	63.38%	62.36%	65.86%	66.22%	65.14%
Earnings before Interest and Taxes (EBIT)	16	-31	57	66	38	107	116	133	110	126	152
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	58	8.22	100	110	95	142	177	210	216	233	310
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.05	3.16	4.77	4.49	5.33	4.98	4.98	5.63	5.05	6.69	3.71
Price to Tangible Book Value (P/TBV)	27.96	26.91	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.84	1.58	2.31	1.92	4.26	3.90	3.87	3.73	3.35	3.90	1.82
Price to Earnings (P/E)	0.00	2.06	2.68	2.16	5.20	21.61	26.20	23.59	33.10	42.89	24.30
Dividend Yield	0.00%	0.47%	1.37%	1.77%	1.60%	1.75%	1.49%	1.34%	1.31%	1.02%	0.00%
Earnings Yield	0.00%	48.53%	37.27%	46.30%	19.22%	4.63%	3.82%	4.24%	3.02%	2.33%	4.12%
Enterprise Value to Invested Capital (EV/IC)	2.29	3.93	5.40	4.65	4.10	3.17	2.98	3.39	2.74	2.35	1.73
Enterprise Value to Revenue (EV/Rev)	2.58	1.44	2.23	1.89	4.56	4.52	4.62	4.33	4.21	5.76	3.15
Enterprise Value to EBITDA (EV/EBITDA)	16.87	142.35	17.34	12.96	19.80	14.12	13.90	12.41	13.54	18.65	9.94
Enterprise Value to EBIT (EV/EBIT)	60.44	0.00	30.36	21.71	49.02	18.72	21.26	19.58	26.45	34.40	20.22
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	54.51	25.84	50.70	22.50	25.78	24.31	29.99	48.24	22.44
Enterprise Value to Operating Cash Flow (EV/OCF)	9.33	11.38	16.40	11.80	14.65	13.80	13.76	13.56	16.79	20.54	13.11
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	10.95	198.33	20.80	0.00	0.00	0.00	16.08	0.00	0.00	15.38
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.28	0.33	0.32	0.36	0.89	1.11	1.36	1.55	1.57	3.48	2.93
Long-Term Debt to Equity	0.26	0.30	0.31	0.34	0.86	1.05	1.30	1.54	1.55	3.48	2.18
Financial Leverage	-0.36	-0.22	-0.21	-0.10	0.17	0.61	0.92	0.96	1.14	2.24	2.96
Leverage Ratio	1.48	1.76	1.88	1.95	2.33	2.84	3.17	3.42	3.51	4.60	5.44
Compound Leverage Factor	1.13	1.99	1.73	1.79	1.73	2.57	2.62	3.02	2.53	3.43	2.91
Debt to Total Capital	21.65%	24.92%	24.48%	26.38%	47.16%	52.50%	57.60%	60.80%	61.16%	77.67%	74.54%
Short-Term Debt to Total Capital	1.41%	2.77%	1.17%	1.32%	1.71%	2.50%	2.65%	0.61%	1.11%	0.00%	19.12%
Long-Term Debt to Total Capital	20.24%	22.16%	23.31%	25.06%	45.44%	50.00%	54.95%	60.19%	60.06%	77.67%	55.42%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	78.35%	75.08%	75.52%	73.62%	52.85%	47.50%	42.40%	39.20%	38.84%	22.33%	25.46%
Debt to EBITDA	2.50	16.43	1.22	1.05	3.10	2.70	3.17	2.94	3.36	6.55	4.52
Net Debt to EBITDA	-1.68	-13.96	-0.62	-0.21	1.27	1.95	2.28	1.72	2.77	6.05	4.21
Long-Term Debt to EBITDA	2.33	14.60	1.16	1.00	2.99	2.57	3.02	2.92	3.30	6.55	3.36
Debt to NOPAT	-13.74	-6.49	3.83	2.10	7.94	4.30	5.88	5.77	7.43	16.95	10.20
Net Debt to NOPAT	9.22	5.52	-1.94	-0.42	3.26	3.11	4.23	3.38	6.13	15.64	9.51
Long-Term Debt to NOPAT	-12.84	-5.77	3.65	1.99	7.65	4.10	5.61	5.71	7.30	16.95	7.58
Altman Z-Score	2.98	3.73	4.86	4.51	2.69	2.32	2.07	2.26	1.97	1.33	1.01
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.62	1.65	1.27	1.24	1.18	0.91	1.05	1.34	0.94	0.81	0.49
Quick Ratio	1.54	1.55	1.18	1.07	1.07	0.82	0.88	1.21	0.80	0.70	0.36
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-176	107	8.74	69	-114	-83	-98	162	-199	-692	200
Operating Cash Flow to CapEx	1,181.91%	1,777.48%	5,806.92%	1,673.82%	0.00%	2,573.69%	3,836.06%	0.00%	3,122.44%	4,062.50%	4,124.64%
Free Cash Flow to Firm to Interest Expense	-46.49	25.57	1.89	13.37	-11.51	-8.14	-4.87	10.26	-6.48	-21.61	2.83
Operating Cash Flow to Interest Expense	27.60	24.62	22.82	23.57	12.96	14.24	8.91	12.17	5.65	6.61	3.32
Operating Cash Flow Less CapEx to Interest Expense	25.26	23.23	22.43	22.16	13.18	13.69	8.67	13.43	5.47	6.44	3.24
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.48	0.99	1.06	1.11	0.54	0.46	0.44	0.43	0.46	0.36	0.39
Accounts Receivable Turnover	5.60	12.27	12.27	12.54	5.76	4.59	4.53	4.77	4.91	4.26	5.44
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.65	15.54	16.85	20.77	13.67	14.84	24.06	41.13	46.06	52.01	71.27
Accounts Payable Turnover	5.56	10.87	12.58	13.67	9.54	6.04	7.98	9.97	11.69	9.93	12.57
Days Sales Outstanding (DSO)	65.14	29.75	29.75	29.12	63.33	79.52	80.58	76.58	74.32	85.76	67.07
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	65.67	33.58	29.02	26.70	38.25	60.47	45.74	36.63	31.22	36.76	29.04
Cash Conversion Cycle (CCC)	-0.53	-3.83	0.74	2.42	25.08	19.05	34.84	39.96	43.10	49.00	38.03
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	426	298	321	308	459	630	823	768	1,065	1,847	1,784
Invested Capital Turnover	1.10	2.24	2.52	2.41	1.08	0.81	0.73	0.76	0.76	0.52	0.54
Increase / (Decrease) in Invested Capital	166	-128	23	-13	151	172	193	-55	297	782	-63
Enterprise Value (EV)	976	1,170	1,734	1,432	1,883	1,999	2,457	2,605	2,921	4,343	3,082
Market Capitalization	1,073	1,285	1,795	1,455	1,762	1,723	2,054	2,243	2,324	2,935	1,777
Book Value per Share	$10.40	$8.37	$7.87	$7.22	$7.37	$7.67	$9.41	$9.27	$10.55	$10.23	$11.15
Tangible Book Value per Share	$0.76	$0.98	($0.71)	($1.11)	($4.51)	($7.95)	($12.45)	($11.39)	($16.68)	($36.75)	($32.97)
Total Capital	667	542	498	440	625	729	973	1,017	1,184	1,965	1,879
Total Debt	144	135	122	116	295	383	560	618	724	1,526	1,400
Total Long-Term Debt	135	120	116	110	284	364	535	612	711	1,526	1,041
Net Debt	-97	-115	-62	-23	121	277	403	362	597	1,408	1,306
Capital Expenditures (CapEx)	8.85	5.79	1.82	7.25	-2.15	5.63	4.65	-20	5.57	5.21	5.70
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-108	-102	-122	-88	-119	-111	-117	-142	-135	-204	-145
Debt-free Net Working Capital (DFNWC)	133	147	61	51	54	-5.37	41	114	-8.22	-86	-51
Net Working Capital (NWC)	123	132	55	45	44	-24	15	108	-21	-86	-410
Net Nonoperating Expense (NNE)	-1.71	35	2.78	5.73	11	9.15	17	12	27	22	64
Net Nonoperating Obligations (NNO)	-97	-109	-55	-16	129	284	411	370	605	1,408	1,306
Total Depreciation and Amortization (D&A)	42	39	43	45	57	35	61	77	105	107	158
Debt-free, Cash-free Net Working Capital to Revenue	-28.71%	-12.64%	-15.73%	-11.64%	-28.84%	-25.19%	-21.97%	-23.59%	-19.47%	-27.13%	-14.87%
Debt-free Net Working Capital to Revenue	35.19%	18.17%	7.86%	6.77%	13.19%	-1.21%	7.65%	18.98%	-1.18%	-11.46%	-5.18%
Net Working Capital to Revenue	32.71%	16.32%	7.12%	6.00%	10.59%	-5.34%	2.80%	17.95%	-3.07%	-11.46%	-41.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.17)	($1.13)	$0.78	$1.39	$0.59	$1.78	$1.79	$2.19	$1.62	$1.58	$1.70
Adjusted Weighted Average Basic Shares Outstanding	50.39M	49.48M	48.13M	45.56M	44.79M	44.89M	43.92M	43.48M	43.46M	43.27M	43.00M
Adjusted Diluted Earnings per Share	($0.17)	($1.13)	$0.77	$1.38	$0.58	$1.76	$1.76	$2.15	$1.57	$1.54	$1.66
Adjusted Weighted Average Diluted Shares Outstanding	50.39M	49.48M	48.52M	46.14M	45.34M	45.32M	44.62M	44.25M	44.66M	44.43M	44.02M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$1.39	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	50.91M	48.73M	46.39M	45.15M	45.10M	44.22M	44.18M	43.35M	43.88M	43.37M	42.11M
Normalized Net Operating Profit after Tax (NOPAT)	22	49	45	57	67	97	104	103	109	110	154
Normalized NOPAT Margin	5.93%	6.07%	5.77%	7.58%	16.18%	21.88%	19.55%	17.08%	15.69%	14.61%	15.73%
Pre Tax Income Margin	3.27%	-4.35%	6.74%	8.02%	6.89%	21.86%	17.98%	19.48%	11.47%	12.51%	8.35%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.26	-7.44	12.33	12.81	3.87	10.50	5.77	8.43	3.59	3.94	2.15
NOPAT to Interest Expense	-2.77	-4.98	6.87	10.76	3.75	8.74	4.75	6.78	3.16	2.81	1.94
EBIT Less CapEx to Interest Expense	1.93	-8.83	11.94	11.40	4.09	9.95	5.53	9.69	3.41	3.78	2.07
NOPAT Less CapEx to Interest Expense	-5.11	-6.36	6.47	9.35	3.96	8.19	4.52	8.05	2.98	2.65	1.86
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	83.14%	51.92%	105.15%	37.51%	40.25%	32.67%	44.95%	45.97%	1.07%
Augmented Payout Ratio	-373.46%	-142.10%	337.90%	293.52%	199.85%	112.77%	86.03%	116.09%	93.33%	172.77%	144.86%

This table displays calculated financial ratios and metrics derived from Progress Software's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	8/31/2023	11/30/2023	2/29/2024	5/31/2024	8/31/2024	11/30/2024	2/28/2025	5/31/2025	8/31/2025	11/30/2025	2/28/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	42,113,648.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	42,113,648.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.54
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	27	24	29	22	34	2.01	27	33	33	44	35
Return On Investment Capital (ROIC_SIMPLE)	-	2.06%	2.49%	-	-	0.10%	1.38%	1.73%	1.71%	2.36%	1.90%
Earnings before Interest and Taxes (EBIT)	29	22	35	27	41	23	32	38	44	39	46
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	57	50	62	55	64	52	71	78	84	77	83
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-274	-272	111	95	107	-780	-750	-762	-769	107	113
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,070	1,065	1,028	1,014	997	1,847	1,805	1,809	1,798	1,784	1,727
Increase / (Decrease) in Invested Capital	301	297	-82	-74	-74	782	777	795	801	-63	-78
Book Value per Share	$10.26	$10.55	$10.54	$9.29	$9.95	$10.23	$9.96	$10.52	$11.08	$11.15	$11.84
Tangible Book Value per Share	($17.52)	($16.68)	($15.96)	($17.02)	($16.17)	($36.75)	($35.70)	($34.67)	($33.66)	($32.97)	($32.29)
Total Capital	1,200	1,184	1,153	1,196	1,221	1,965	1,929	1,911	1,897	1,879	1,840
Total Debt	755	724	691	794	795	1,526	1,497	1,458	1,419	1,400	1,341
Total Long-Term Debt	744	711	691	794	795	1,526	1,497	1,100	1,061	1,041	982
Net Debt	617	597	558	604	563	1,408	1,373	1,356	1,320	1,306	1,228
Capital Expenditures (CapEx)	1.21	2.39	0.31	0.96	1.06	2.88	1.29	0.50	1.06	2.86	2.71
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-148	-135	-148	-155	-159	-204	-212	-169	-175	-145	-171
Debt-free Net Working Capital (DFNWC)	-10	-8.22	-15	36	74	-86	-88	-67	-76	-51	-58
Net Working Capital (NWC)	-22	-21	-15	36	74	-86	-88	-425	-434	-410	-418
Net Nonoperating Expense (NNE)	7.67	9.05	6.07	5.65	5.04	0.87	16	16	13	19	12
Net Nonoperating Obligations (NNO)	625	605	566	612	571	1,408	1,373	1,356	1,320	1,306	1,228
Total Depreciation and Amortization (D&A)	28	28	28	28	23	28	39	40	40	39	37
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.44	$0.35	$0.52	$0.37	$0.66	$0.03	$0.25	$0.40	$0.45	$0.60	$0.54
Adjusted Weighted Average Basic Shares Outstanding	43.45M	43.46M	43.80M	43.21M	42.87M	43.27M	43.26M	43.05M	42.99M	43.00M	42.16M
Adjusted Diluted Earnings per Share	$0.42	$0.35	$0.51	$0.37	$0.65	$0.01	$0.24	$0.39	$0.44	$0.59	$0.53
Adjusted Weighted Average Diluted Shares Outstanding	44.98M	44.66M	44.83M	43.96M	43.71M	44.43M	44.89M	44.16M	43.72M	44.02M	42.73M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	43.57M	43.88M	43.22M	42.78M	42.91M	43.37M	43.03M	43.11M	42.91M	42.11M	42.08M
Normalized Net Operating Profit after Tax (NOPAT)	28	17	31	23	35	30	35	35	34	30	36
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

Financials Breakdown Chart

Key Financial Trends

Here are the key trends for Progress Software (PRGS) based on the quarterly statements provided, covering the 2022–2025 period. The focus is on revenue, margins, cash flow, balance sheet position, and capital allocation that may matter to retail investors.

Revenue growth and scale: Quarterly operating revenue rose meaningfully from 2022–2024 into 2025. In Q4 2025, operating revenue was 252,666,000, up from 214,961,000 in Q4 2024, and Q3 2025 revenue was 249,795,000 versus 178,686,000 in Q3 2024. This indicates a sustained expansion in top-line scale across the latest year.
Gross margin remains very solid: Total gross profit in Q4 2025 was 206,140,000 on revenue of 252,666,000, implying a gross margin around 81.6%. This margin level is consistent with a durable software product mix and pricing power observed in the period.
Operating income and margins improving in 2025: Q4 2025 operating income was 38,374,000 on 252,666,000 revenue (roughly a 15% operating margin), up from Q4 2024 when operating income was about 12,250,000. The year shows an improvement in operating leverage as the revenue base expanded.
Net income and earnings per share trending higher in 2025: Net income for Q4 2025 was 25,745,000, with a diluted earnings per share of 0.59. This marks a meaningful improvement versus the prior-year quarters and indicates the company is translating higher revenue into beat on profitability metrics.
Robust cash flow from operations: Cash flow from continuing operating activities was 73,446,000 in Q3 2025 and 62,798,000 in Q4 2025, with other quarters in 2025 also showing healthy operating cash flow (e.g., 29,996,000 in Q2 2025 and 68,945,000 in Q1 2025). This ongoing cash generation supports debt management and potential capital returns.
Deleveraging trend in 2025: Long-term debt declined through 2025—from 1,497,270,000 in Q1 2025 to 1,060,713,000 by Q3 2025—reflecting an improving debt position and progress toward lower leverage.
Balance sheet momentum and equity base: Total common equity rose through 2025 (e.g., 431,847,000 in Q1 2025 to 477,682,000 in Q3 2025), indicating an improving balance sheet cushion and capital base alongside net income growth.
Liquidity pressures in the near term: The latest balance sheets show current assets of 335,545,000 vs. current liabilities of 769,809,000 (Q3 2025), yielding a relatively tight or below-1 current ratio in some periods. This points to liquidity considerations that investors may want to monitor, especially in a business with sizable deferred revenue components.
Non-cash charges and capitalization of intangible assets: Amortization and other non-cash items are substantial (e.g., Q4 2025 amortization expense around 25–26 million per the statements), along with sizable intangible assets and goodwill on the balance sheet. While non-cash, these charges influence reported profitability and may complicate cash-flow-based assessments.
Financing activity reduces cash and supports capital returns: Net cash from financing activities was negative in several 2025 periods (e.g., Q4 2025 net cash from financing activities of −62,585,000), reflecting debt repayments and share repurchases. This reduces cash on hand and highlights reliance on external financing activities for capital actions.
R&D, S&M spend remains a sizable cost base: In 2025 quarters, R&D and selling/marketing expenses remain a meaningful share of revenue (e.g., 49–50 million in R&D and 58–59 million in marketing in Q4 2025 combined with revenue around 250 million), which pressures near-term margins even as revenue grows. This indicates ongoing investment in product development and go-to-market efforts rather than a rapid expansion of profitability alone.

05/15/26 03:48 PM ETAI Generated. May Contain Errors.

Progress Software Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Progress Software's fiscal year ends in November. Their fiscal year 2025 ended on November 30, 2025.

Progress Software's net income appears to be on an upward trend, with a most recent value of $73.13 million in 2025, falling from -$8.80 million in 2015. The previous period was $68.44 million in 2024. Find out what analysts predict for Progress Software in the coming months.

Progress Software's total operating income in 2025 was $153.29 million, based on the following breakdown:

Total Gross Profit: $790.25 million
Total Operating Expenses: $636.96 million

Over the last 10 years, Progress Software's total revenue changed from $377.55 million in 2015 to $977.83 million in 2025, a change of 159.0%.

Progress Software's total liabilities were at $1.98 billion at the end of 2025, a 5.2% decrease from 2024, and a 458.1% increase since 2015.

In the past 10 years, Progress Software's cash and equivalents has ranged from $94.81 million in 2025 to $256.28 million in 2022, and is currently $94.81 million as of their latest financial filing in 2025.

Over the last 10 years, Progress Software's book value per share changed from 10.40 in 2015 to 11.15 in 2025, a change of 7.2%.

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Financial statements for NASDAQ:PRGS last updated on 4/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Progress Software (PRGS) Financials

Financials Breakdown Chart

Key Financial Trends

Progress Software Financials - Frequently Asked Questions

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Progress Software (PRGS) Financials

Annual Income Statements for Progress Software

Quarterly Income Statements for Progress Software

Annual Cash Flow Statements for Progress Software

Quarterly Cash Flow Statements for Progress Software

Annual Balance Sheets for Progress Software

Quarterly Balance Sheets for Progress Software

Annual Metrics And Ratios for Progress Software

Quarterly Metrics And Ratios for Progress Software

Financials Breakdown Chart

Key Financial Trends

Progress Software Financials - Frequently Asked Questions

When does Progress Software's financial year end?

How has Progress Software's net income changed over the last 10 years?

What is Progress Software's operating income?

How has Progress Software's revenue changed over the last 10 years?

How much debt does Progress Software have?

How much cash does Progress Software have?

How has Progress Software's book value per share changed over the last 10 years?

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