PRGSPROGRESS SOFTWARE CORP /MA
Services-Prepackaged Software
- Revenue
- $978M
- 30% YoY
- Operating margin
- 15.7%
- 4.8% YoY
- EBITDA
- $159M
- 22% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 7.0×
- $1.1B net debt
- AI in 10-K
- —
Red flags 1 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear322% of net incomeCash flow under 80% of net income
- Dilutive SBCClear7% of revenueOver 10% of revenue
- Payouts exceed cash flowClear45% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyFired57% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $531M | $602M | $694M | $753M | $978M | 30% |
| Operating income | $116M | $132M | $111M | $124M | $153M | 24% |
| Net income | $78M | $95M | $70M | $68M | $73M | 6.9% |
| Operating cash flow | $179M | $192M | $174M | $211M | $235M | 11% |
| Capex | $5M | $6M | $6M | $5M | $6M | 9.5% |
| Stock-based comp | $30M | $37M | $41M | $47M | $65M | 39% |
| Buybacks | $35M | $77M | $34M | $87M | $105M | 21% |
| Dividends | $32M | $31M | $32M | $31M | $786K | 98% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $261K · 4
- Net
- −$261K
Pay vs performance
No pay-versus-performance disclosure yet.