Progress Software Financial Statements
NASDAQ: PRGSTechnologyComputer Software: Prepackaged SoftwareUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
Progress Software revenue and earnings
In fiscal 2025, Progress Software generated $977.8 million in revenue, up 29.8% from fiscal 2024, its 7th consecutive year of revenue growth. Net income was $73.1 million (+6.9% year over year), for a net margin of 7.5% versus a median of 14.8% in the prior 5 years. Gross margin was 80.8% (down from 82.7%) and operating margin 15.7%.
Diluted earnings per share came in at $1.66, up from $1.54. Over the last 5 fiscal years, PRGS's revenue has grown at a 17.2% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
Progress Software income statement (annual)
| Fiscal year (USD) | FY 20252025-11-30 | FY 20242024-11-30 | FY 20232023-11-30 | FY 20222022-11-30 | FY 20212021-11-30 | FY 20202020-11-30 | FY 20192019-11-30 | FY 20182018-11-30 | FY 20172017-11-30 | FY 20162016-11-30 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 977.83M | 753.41M | 694.44M | 602.01M | 531.31M | 442.15M | 413.30M | 378.98M | 397.57M | 405.34M |
| Revenue growth (YoY) | +29.79% | +8.49% | +15.35% | +13.31% | +20.17% | +6.98% | +9.06% | -4.68% | -1.92% | +7.36% |
| Cost of Revenue | 187.58M | 130.48M | 126.58M | 94.50M | 78.45M | 62.11M | 75.24M | 66.97M | 69.16M | 65.71M |
| Gross Profit | 790.25M | 622.93M | 567.86M | 507.52M | 452.86M | 380.04M | 338.06M | 312.01M | 320.00M | 339.63M |
| Operating Expenses | 636.96M | 498.92M | 457.34M | 375.39M | 336.76M | 272.31M | 297.97M | 244.19M | 262.50M | 369.34M |
| Research & Development | 192.26M | 146.34M | 132.40M | 114.57M | 103.34M | 88.60M | 88.57M | 79.74M | 76.99M | 88.59M |
| Selling, General & Admin | 319.23M | 254.09M | 239.23M | 218.64M | 191.02M | 154.12M | 155.06M | 142.09M | 146.79M | 168.03M |
| Operating Income | 153.29M | 124.00M | 110.52M | 132.13M | 116.10M | 107.73M | 40.08M | 67.81M | 57.49M | -29.71M |
| Interest Expense | 70.85M | 32.01M | 30.78M | 15.79M | 20.05M | 10.17M | 9.91M | 5.15M | 4.63M | 4.18M |
| Other Income (Expense) | -71.66M | -29.74M | -30.87M | -14.88M | -20.57M | -11.09M | -11.59M | -7.02M | -5.03M | -5.57M |
| Pretax Income | 81.63M | 94.26M | 79.66M | 117.25M | 95.53M | 96.64M | 28.50M | 60.80M | 52.46M | -35.28M |
| Income Tax | 8.49M | 25.83M | 9.46M | 22.19M | 17.11M | 16.91M | 2.10M | 11.13M | 23.44M | 20.45M |
| Net Income | 73.13M | 68.44M | 70.20M | 95.07M | 78.42M | 79.72M | 26.40M | 49.67M | 29.02M | -55.73M |
| Net Income growth (YoY) | +6.86% | -2.51% | -26.16% | +21.23% | -1.63% | +201.98% | -46.85% | +71.15% | — | — |
| EPS (Basic) | 1.70 | 1.58 | 1.62 | 2.19 | 1.79 | 1.78 | 0.59 | 1.09 | 0.60 | -1.13 |
| EPS (Diluted) | 1.66 | 1.54 | 1.57 | 2.15 | 1.76 | 1.76 | 0.58 | 1.08 | 0.60 | -1.13 |
| Shares Outstanding (Basic) | 43.00M | 43.27M | 43.46M | 43.48M | 43.92M | 44.89M | 44.79M | 45.56M | 48.13M | 49.48M |
| Shares Outstanding (Diluted) | 44.02M | 44.43M | 44.66M | 44.25M | 44.62M | 45.32M | 45.34M | 46.13M | 48.52M | 49.48M |
| EBITDA | 159.49M | 130.40M | 116.82M | 137.13M | 121.60M | 113.83M | 47.68M | 74.71M | 64.99M | -21.21M |
| Gross Margin | 80.82% | 82.68% | 81.77% | 84.30% | 85.23% | 85.95% | 81.79% | 82.33% | 80.49% | 83.79% |
| Operating Margin | 15.68% | 16.46% | 15.92% | 21.95% | 21.85% | 24.36% | 9.70% | 17.89% | 14.46% | -7.33% |
| Net Margin | 7.48% | 9.08% | 10.11% | 15.79% | 14.76% | 18.03% | 6.39% | 13.11% | 7.30% | -13.75% |
This table shows 10 annual periods of Progress Software's income statement, from FY 2025 back to FY 2016, across 20 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow PRGS's reporting calendar. What is a income statement?