Progress Software Corporation (Nasdaq: PRGS) announced its financial results for the fiscal first quarter ended February 28, 2026, revealing a revenue increase of 4% year-over-year, reaching $248 million. The company reported an annualized recurring revenue (ARR) of $863 million, reflecting a 2% increase on a constant currency basis. Operating margins stood at 19%, with a non-GAAP operating margin of 41%. Notably, diluted earnings per share surged to $0.53, a significant increase of 121% compared to $0.24 in the same quarter last year. Non-GAAP diluted earnings per share also rose to $1.60, up 22% from $1.31 in the prior year. CEO Yogesh Gupta expressed satisfaction with the momentum from 2025 carrying into FY26, highlighting strong revenue growth, margins, and cash flow generation. The company continues to focus on debt paydown and share buybacks, reinforcing its commitment to returning capital to shareholders. Progress Software's robust performance underscores its strategic positioning in the AI-powered digital experience and infrastructure software market, as it aims to deliver long-term value to its stakeholders.

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