Progress Software beats Q2 guidance, raises FY2026 outlook on 7% revenue growth

Filed June 30, 2026 · Period ending June 30, 2026 · ~1 min read

Key Changes

• high

  Q2 revenue of $253M beat guidance ($240M-$246M) and grew 7% YoY; non-GAAP EPS of $1.62 exceeded guidance ($1.47-$1.53), up 16% YoY. ARR reached $868M with 100% net retention.

  Exhibit 99.1 verify on EDGAR →
• high

  Full-year revenue guidance raised to $990M-$1,002M (from $988M-$1,000M); non-GAAP EPS guidance increased to $6.09-$6.21 (from $5.91-$6.03) on Q2 outperformance.

  Exhibit 99.1 verify on EDGAR →
• medium

  Net leverage reduced to 2.9X through $50M debt paydown in Q2 ($110M YTD); company models $220M total debt repayment for FY2026 while repurchasing $35M shares in Q2.

  Exhibit 99.2 verify on EDGAR →