Progress Software Q2 2024 Earnings Report

Revenue and non-GAAP revenue reached $175 million, a 2% year-over-year decrease on both actual and constant currency basis.

Annualized Recurring Revenue (ARR) was $579 million, reflecting a 1% year-over-year increase on a constant currency basis.

Operating margin was 16%, while non-GAAP operating margin was 38%.

Diluted earnings per share increased by 37% to $0.37, compared to $0.27 in the same quarter last year, and non-GAAP diluted earnings per share increased by 3% to $1.09, compared to $1.06 last year.