Progress Software Q1 Profit Increases; Updates FY Outlook

(RTTNews) - Progress Software (PRGS), a provider of AI-powered digital experience and infrastructure software, reported that its net income for its fiscal first quarter ended February 28, 2026 increased to $22.81 million or $0.53 per share from $10.95 million or $0.24 per share last year.

Non-GAAP earnings per share was $1.60 compared to $1.31 in the same quarter last year, an increase of 22%.

Revenue for the quarter was $247.80 million, an increase of 4% year-over-year on an actual currency basis and 2% on a constant currency basis.

For the fiscal second quarter ending May 31, 2026, Progress expects GAAP and non-GAAP revenue between $240 million and $246 million. GAAP earnings per share are projected at $0.35 to $0.41, while non-GAAP diluted earnings per share are forecast at $1.47 to $1.53.

Progress has updated its fiscal year 2026 outlook as of March 30, 2026. The company now expects GAAP and non-GAAP revenue between $988 million and $1.000 billion, compared with its prior guidance of $986 million - $1.000 billion.

Annual GAAP earnings per share are projected at $1.71 to $1.87, compared with the earlier range of $1.74 to $1.91. Non-GAAP earnings per share are forecast at $5.91 to $6.03, slightly higher than the prior range of $5.82 to $5.96.

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