Progress Software's stock surged 7.20% in extended trading following the release of its fiscal fourth-quarter results, which exceeded analyst expectations. The company reported adjusted earnings per share (EPS) of $1.51, beating the consensus estimate of $1.31, while revenue reached $252.67 million, slightly below the $252.86 million forecast.
The strong performance was driven by a 2% year-over-year increase in annualized recurring revenue (ARR) to $852 million and a non-GAAP operating margin of 38%. CEO Yogesh Gupta highlighted the company's "strongest year ever" and its focus on AI-powered innovation and customer success.
Progress Software also provided optimistic guidance for fiscal 2026, projecting adjusted EPS of $5.82 to $5.96 and revenue between $986 million and $1 billion, both above analyst estimates. This upbeat outlook fueled investor confidence, contributing to the stock's sharp rise.
Comments