Progress Software Corporation (PRGS)

In November 2025, Progress Software's stock had experienced a 36% decline during 2025, partly attributed to a lawsuit stemming from a May 2023 breach in its MOVEit file transfer application. In January 2026, the company announced it would release its fiscal fourth-quarter and full-year 2025 financial results. On March 30, 2026, the company reported its fiscal first-quarter 2026 results, showing revenue of $248 million and non-GAAP diluted earnings per share of $1.60. In April 2026, Progress Software released its 2025 Corporate Social Responsibility Report and expanded its Bengaluru office. On May 8, 2026, Progress Software held its annual meeting of stockholders, highlighting fiscal 2025 as the company's strongest year to date, with annual revenue of $978 million and earnings per share of $5.72. The stock price on May 8, 2026, was $29.87.

Progress Software's business experiences normal seasonality. Deferred revenue at the end of the third quarter of fiscal year 2025 was slightly down from the second quarter. Historical stock price data suggests some seasonality in investor returns, with November showing the highest probability of positive returns and October the lowest.

Progress Software Corp. is a global software company specializing in AI-powered digital experience and infrastructure software, operating within the Information Technology sector. Its product portfolio includes solutions for application development, digital experience management, data connectivity, DevOps automation, managed file transfer, and network security. Key products and platforms include OpenEdge, Telerik, Kendo UI, Corticon, Sitefinity, Agentic RAG for Sitefinity, DataDirect, MarkLogic, Semaphore, Chef, Flowmon, Kemp LoadMaster, WhatsUp Gold, MOVEit, Automate MFT, and ShareFile.

Headquartered in Burlington, Massachusetts, Progress Software has a global presence with offices in 16 countries across North America, Latin America, Europe, the Middle East and Africa (EMEA), and Asia Pacific. A majority of its revenue is generated from the United States. Regional headquarters are located in Rotterdam for EMEA and Singapore for Asia-Pacific and Japan. Progress Software has also expanded its operations in India with offices in Bengaluru, Hyderabad, and New Delhi, and established a Center of Excellence in Heredia, Costa Rica.

Progress Software's brand reputation has been influenced by the May 2023 MOVEit file transfer app breach. The company has made efforts to bolster its reputation through strategic initiatives, such as launching Progress Federal Solutions, releasing its 2025 Corporate Social Responsibility Report, expanding AI and workforce operations in India, and establishing a new Center of Excellence in Costa Rica. The CEO's emphasis on AI momentum and strong fiscal performance at the May 2026 AGM also aimed to project a positive outlook for the company.

Progress Software's ownership structure is predominantly institutional, with estimates ranging from approximately 44.93% to 94.2%. Major institutional shareholders include BlackRock, Inc., Vanguard Group Inc., State Street Corp, Boston Trust Walden Corp, Wellington Management Group Llp, Dimensional Fund Advisors Lp, Geode Capital Management, Llc, and Lsv Asset Management. Insider ownership is relatively small, typically reported at less than 2.17%.