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Aug 31, 2022
Progress Software Q3 2022 Earnings Report
Revenue and EPS exceeded prior guidance.
Key Takeaways
Progress announced financial results for the third quarter ended August 31, 2022, with revenue of $151.2 million, a 3% increase year-over-year, and diluted earnings per share of $0.50. Both revenue and earnings per share exceeded the high end of the company's guidance ranges for the third consecutive quarter. The company's Annual Recurring Revenue (ARR) reached $495 million, a 13% increase year-over-year on a constant currency basis.
Revenue of $151.2 million increased 3% year-over-year on an actual currency basis, and 6% on a constant currency basis.
Annualized Recurring Revenue (“ARR”) of $495 million increased 13% year-over-year on a constant currency basis.
Operating margin was 21% and Non-GAAP operating margin was 39%.
Non-GAAP diluted earnings per share was $1.00 compared to $1.18 in the same quarter last year, a decrease of 15%.
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 fourth quarter ending November 30, 2022:
Revenue & Expenses
Visualization of income flow from segment revenue to net income