Progress Software Corp

Common Name

Progress Software

Country

United States

Sector

Technology

Industry

Software - Infrastructure

Employees

2,815

Ticker

PRGS

Exchange

NASDAQ/NGS

Website

www.progress.com

Description

Progress Software Corporation is a global leader in the development and deployment of business applications. Specializing in offering high-impact technological solutions, Progress Software provides bu... Show more

Financial Statements of Progress Software

Below are the financial statements of Progress Software, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.

Income Statement (as reported) Balance Sheet (as reported)

All figures in millions of USD	2024	2023	2022
Revenue	—	—	—
Software licenses	249.33^a	220.79^a	188.34^a
Maintenance and services	504.08^a	473.65^a	413.68^a
Total revenue	753.41^a	694.44^a	602.01^a
Costs of revenue	—	—	—
Cost of software licenses	-10.94^a	-11.15^a	-10.24^a
Cost of maintenance and services	-90.32^a	-85.26^a	-62.18^a
Amortization of acquired intangibles	-29.22^a	-30.17^a	-22.08^a
Total costs of revenue	-130.48^a	-126.58^a	-94.5^a
Gross profit	622.93^a	567.86^a	507.52^a
Operating expenses	—	—	—
Sales and marketing	-164.57^a	-156.08^a	-140.76^a
Product development	-146.34^a	-132.4^a	-114.57^a
General and administrative	-89.52^a	-83.16^a	-77.88^a
Amortization of acquired intangibles	-65.29^a	-66.43^a	-46.87^a
Restructuring expenses	-10.45^a	-8.41^a	-0.88^a
Acquisition-related expenses	-17.11^a	-4.7^a	-4.6^a
Cyber incident and vulnerability response expenses, net	-5.64^a	-6.16^a	-0.6^a
Gain on sale of assets held for sale	0^a	0^a	-10.77^a
Total operating expenses	-498.92^a	-457.34^a	-375.39^a
Income from operations	124^a	110.52^a	132.13^a
Other (expense) income	—	—	—
Interest expense	-32.01^a	-30.78^a	-15.79^a
Interest income and other, net	4.73^a	2.54^a	1.41^a
Foreign currency loss, net	-2.46^a	-2.62^a	-0.5^a
Total other expense, net	-29.74^a	-30.87^a	-14.88^a
Income before income taxes	94.26^a	79.66^a	117.26^a
Provision for income taxes	-25.83^a	-9.46^a	-22.19^a
Net income	68.44^a	70.2^a	95.07^a

Verified Sources Behind Progress Software’s Financial Fundamentals Data

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a. Progress Software's 10-K 2024

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Progress Software Corp

Financial Statements of Progress Software

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