Progress Announces Second Quarter 2021 Financial Results

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44

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…

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