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May 31, 2022
Progress Software Q2 2022 Earnings Report
Revenue and EPS exceeded prior guidance.
Key Takeaways
Progress announced financial results for the second quarter ended May 31, 2022, with revenue of $148.7 million, a 21% increase year-over-year. The company's diluted earnings per share was $0.66, a 120% increase compared to the same quarter last year, and non-GAAP diluted earnings per share was $1.04, a 27% increase.
Revenue of $148.7 million increased 21% year-over-year on an actual currency basis, and 24% on a constant currency basis.
Annualized Recurring Revenue (ARR) of $486 million increased 13% year-over-year on a constant currency basis.
Diluted earnings per share was $0.66 compared to $0.30 in the same quarter last year, an increase of 120%.
Non-GAAP diluted earnings per share was $1.04 compared to $0.82 in the same quarter last year, an increase of 27%.
Progress Software
Progress Software
Progress Software Revenue by Segment
Revenue by Segment
Software Licenses Revenue
CapyFin.comMaintenance & Services Revenue
CapyFin.com Forward Guidance
Progress provides the following guidance for the fiscal year ending November 30, 2022 and the fiscal third quarter ending August 31, 2022:
Revenue & Expenses
Visualization of income flow from segment revenue to net income