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AI brief of an SEC Form 8-K · Progress Software (PRGS)

Progress Q3 revenue rises 2% to $179 million and raises FY 2024 revenue guidance

Positive Impact 4 of 5 earnings Written later

Progress reported fiscal third-quarter 2024 revenue of $179 million, up 2% year over year, and GAAP diluted earnings per share of $0.65, up from $0.42. It raised its fiscal 2024 GAAP revenue guidance but lowered its GAAP diluted EPS guidance, and its board approved suspending the quarterly dividend once the $875 million ShareFile acquisition closes.

Key points

  • Q3 revenue $179 million, up 2% year over year; GAAP diluted EPS $0.65 vs. $0.42; non-GAAP diluted EPS $1.26 vs. $1.08.
  • Annualized Recurring Revenue of $582 million, relatively flat year over year on a constant currency basis.
  • FY 2024 GAAP revenue guidance raised to $745 million-$755 million from $725 million-$735 million; GAAP diluted EPS guidance lowered to $1.69-$1.81 from $1.98-$2.10.
  • Board approved suspending the quarterly dividend as of the closing of the $875 million ShareFile acquisition, with capital redirected to debt repayment, M&A and share repurchases.

The filing

CompanyProgress Software (PRGS)
Form8-K, current report
Filed with the SECSep 24, 2024, 4:17 PM ET
Accession number0000876167-24-000140

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:55 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 24, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.