Progress Software Corporation Q1 2026 Earnings Recap

PRGS Q1 2026 March 31, 2026

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Progress Software delivered solid Q1 2026 results with revenue of $248 million, reflecting a 4% year-over-year growth, while EPS surged 22% to $1.60, driven by strong cash flows and disciplined operational execution.

Earnings Per Share Beat

$1.60 vs $1.57 est.

+1.9% surprise

Revenue Beat

247799000 vs 246410200 est.

+0.6% surprise

Market Reaction

1-Day -9.27%

5-Day -8.88%

30-Day -3.68%

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Key Takeaways

Annual recurring revenue (ARR) grew 2% in constant currency, with a net revenue retention (NRR) rate holding strong at 99%.
Adjusted free cash flow reached $99 million, underscoring the company's focus on collections amid a healthy balance sheet.
AI integration across the product suite is enhancing operational efficiency and customer value, positioning Progress as a leader in innovation.
Continued investment in M&A and product enhancements, particularly within ShareFile, highlights the company’s growth strategy.
Customers report substantial gains in efficiency and satisfaction by leveraging Progress’s AI-driven solutions across various sectors.

This summary was generated by AI from the official earnings call transcript and is provided for informational purposes only. It does not constitute financial advice. For the complete transcript and financial data, visit PRGS on AllInvestView.