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

Progress Q4 revenue rises 21% to $215 million as GAAP profit falls 91%

Mixed Impact 4 of 5 earnings Written later

Progress Software reported fiscal fourth-quarter 2024 revenue of $215 million, up 21% from a year earlier, while GAAP diluted earnings per share fell to $0.03 from $0.34, a 91% decline; non-GAAP diluted EPS rose 30% to $1.33. The company guided fiscal 2025 revenue to $958 million to $970 million and GAAP diluted EPS to $1.08 to $1.23, versus $1.54 in fiscal 2024, and suspended its quarterly dividend to redirect capital toward debt repayment after completing the ShareFile acquisition on October 31, 2024.

Key points

  • Q4 2024 revenue $215 million, up 21% year-over-year; Annualized Recurring Revenue $842 million, up 46% on a constant currency basis
  • Q4 2024 GAAP diluted EPS $0.03 vs. $0.34 a year earlier; non-GAAP diluted EPS $1.33 vs. $1.02
  • FY 2025 revenue guidance $958 million to $970 million vs. $753 million in FY 2024; GAAP diluted EPS guidance $1.08 to $1.23 vs. $1.54
  • Board suspended quarterly dividend in Q4 2024 in connection with the ShareFile acquisition; cash payments for acquisitions were $852.7 million in the quarter

The filing

CompanyProgress Software (PRGS)
Form8-K, current report
Filed with the SECJan 21, 2025, 4:17 PM ET
Accession number0000876167-25-000009

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 January 21, 2025.

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.