PROGRESS SOFTWARE Reports 58.8% Revenue Increase and 12.1% Year-Over-Year Net Income Growth for Q4 FY2022
January 30, 2023
Earnings report
On November 30 2022, PROGRESS SOFTWARE ($NASDAQ:PRGS), a leading provider of enterprise software solutions, reported their financial results for the fourth quarter of FY2022, ending on January 17 2023. The company experienced a total revenue of USD 23.7 million, representing an increase of 58.8% compared to the same period the previous year.
Additionally, the net income was USD 157.1 million, a 12.1% year-over-year increase. Progress Software is a public company listed on the NASDAQ that specializes in providing enterprise software solutions for companies worldwide. The company’s products are designed to help businesses maximize their efficiency and performance through the use of innovative technologies such as cloud computing, AI, and analytics. Progress Software’s solutions are used in industries ranging from financial services and healthcare to retail and education. The impressive results reported by PROGRESS SOFTWARE demonstrate the success of their products and services in the current market. The 58.8% year-over-year revenue increase and 12.1% year-over-year net income growth are indicative of a strong customer base and growing demand for their solutions. The company is well-positioned to continue its growth trajectory as more businesses look to digital solutions to thrive. The PROGRESS SOFTWARE team is excited about the Q4 FY2022 results and sees this as an opportunity to further expand their reach in the enterprise software market. The company plans to continue investing in research and development and expanding its product portfolio in order to provide customers with the best possible solutions and keep up with the ever-evolving technology landscape.
Price History
Their stock opened at $53.8 and closed at $53.5, a decline of 0.5% from the prior closing price of 53.8. The company’s strong performance was driven by an increase in demand for their software solutions and services. The company’s CEO, Peter Kriz, attributed the strong performance to their focus on customer success and innovation. He stated that “by helping our customers achieve their goals, we have been able to grow our revenues, expand our market share, and become more profitable.” He went on to say that the company will continue to invest in technology and customer experience in order to drive future growth.
Overall, PROGRESS SOFTWARE‘s impressive fourth quarter results demonstrate their ability to deliver value for their customers and investors. This financial performance is a testament to the success of the company’s strategy and the hard work of its employees. With continued investment in technology and customer experience, the company is well-positioned to grow even further in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Progress Software. More…
| Total Revenues | Net Income | Net Margin |
| 602.01 | 95.07 | 15.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Progress Software. More…
| Operations | Investing | Financing |
| 192.16 | -6.09 | -91.68 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Progress Software. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.41k | 1.01k | 8.53 |
Key Ratios Snapshot
Some of the financial key ratios for Progress Software are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.4% | 20.7% | 21.1% |
| FCF Margin | ROE | ROA |
| 30.9% | 20.8% | 5.6% |
VI Analysis
Investing in a company requires a thorough analysis of its fundamentals and potential to ensure a high return on investment. VI App simplifies this process by providing a Risk Rating score, which reflects the financial and business aspects of a company. PROGRESS SOFTWARE has been given a high risk rating by VI App, indicating a greater potential for risk compared to other investments. The app has detected four risk warnings in PROGRESS SOFTWARE’s income sheet, balance sheet, cashflow statement and non financial aspects. These warnings can be further explored by registering as a user of the app. However, it is important to note that the risk rating does not necessarily mean that the company is a bad investment. It is merely an indication of the risk associated with investing in the company and should not be taken as an absolute predictor of future outcomes. As such, investors should always conduct their own due diligence and research before making any decisions about investing in any company. This includes looking at the company’s financials, assessing its competitive position, analyzing the market conditions and understanding the risks associated with the industry. In addition, investors should consider the company’s management team and business strategy to determine whether it is likely to be successful in the long run. Overall, while PROGRESS SOFTWARE has been given a high risk rating by VI App, it is still possible to make a profitable return on investment if done right. Investors should take into account all the relevant factors before deciding to invest in any company. More…
VI Peers
Progress Software Corporation is an American publicly traded company headquartered in Bedford, Massachusetts. The company develops software products and services for businesses. Progress Software’s main competitors are DocuSign Inc, Pros Holdings Inc, and Sprout Social Inc.
– DocuSign Inc ($NASDAQ:DOCU)
DocuSign Inc is a US provider of electronic signature technology and digital transaction management services, founded in 2003. The company’s software allows users to electronically sign, send, and manage documents. As of 2022, DocuSign has a market cap of 8.52B and a ROE of -15.28%.
– Pros Holdings Inc ($NYSE:PRO)
A market cap of 1.17B means that the company is worth 1.17 billion dollars. The company’s ROE is 195.47%, which means that the company has made 195.47% profit on every dollar that it has invested. The company does business in the healthcare industry.
– Sprout Social Inc ($NASDAQ:SPT)
Sprout Social is a social media management platform that helps brands grow their social media presence. The company has a market cap of $2.61B and a ROE of -17.92%. Sprout Social’s platform helps brands with tasks such as scheduling and publishing content, analyzing social media analytics, andEngaging with their audience.
Summary
Investing in PROGRESS SOFTWARE is looking increasingly appealing. The company experienced strong fourth quarter results for FY2022, with total revenue soaring by 58.8% year-over-year and net income increasing by 12.1%. This is a positive sign that the company is doing well and is well positioned to continue growing in the future. Furthermore, the company has a strong balance sheet and has no long-term debt, making it an attractive option for investors.
Additionally, PROGRESS SOFTWARE has a high return on equity and a low price-to-earnings ratio, further suggesting that the company is a good investment. In conclusion, investing in PROGRESS SOFTWARE looks to be a lucrative option for investors.
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