Q2 Revenue and Earnings Per Share Exceed Guidance
Full Year Guidance Raised
BEDFORD, Mass., June 24, 2021 (GLOBE NEWSWIRE) — Progress (NASDAQ: PRGS), the leading provider of products to develop, deploy and manage high-impact business applications, today announced financial results for its fiscal second quarter ended May 31, 2021.
Second Quarter 2021 Highlights:
- Revenue of $122.5 million increased 22% year-over-year on an actual currency basis, and 19% on a constant currency basis.
- Non-GAAP revenue of $129.2 million increased 26% on an actual currency basis, and 23% on a constant currency basis.
- Annualized Recurring Revenue (ARR) of $437 million increased 23% year-over-year on a constant currency basis.
- Operating margin was 18% and Non-GAAP operating margin was 38%.
- Diluted earnings per share was $0.30 compared to $0.37 in the same quarter last year, a decrease of 19%.
- Non-GAAP diluted earnings per share was $0.82 compared to $0.63 in the same…