AI-extracted from the 10-Q filed 2026-09-30 — Q3 FY2026 (quarter ended August 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Progress Software reported Q3 revenue of $246M, essentially flat YoY, as software licenses held steady at $63.6M while maintenance/SaaS declined 2%; company redeemed $361.8M of convertible notes in April and acquired Domo for ~$400M in September.
Biggest Revenue Drivers
Maintenance, SaaS, and Professional Services$182.4M-2% YoY
Maintenance declined 5% due to timing of renewals on multiyear subscription contracts; SaaS increased 2%.
Software Licenses$63.6M—% YoY
Remained flat; increased DataDirect and OpenEdge offerings in nine-month period offset Q3 timing.
Biggest Revenue Drivers
Total revenue: $246.0M-2% YoY
Maintenance, SaaS, and Professional Services$182.4M-2% YoY
Maintenance declined 5% due to timing of renewals on multiyear subscription contracts; SaaS increased 2%.
Software Licenses$63.6M—% YoY
Remained flat; increased DataDirect and OpenEdge offerings in nine-month period offset Q3 timing.
Largest Expense Items
Amortization of Acquired Intangibles$35.1M-6% YoY
Decline due to run-off of existing intangible assets from prior acquisitions.
Cost of Maintenance, SaaS, and Professional Services$30.8M-9% YoY
Decreased contractors and personnel-related costs in hosting and cloud operations.
Sales and Marketing$50.5M-3% YoY
Decreased variable compensation expenses during Q3.
Product Development$46.1M-7% YoY
Decreased headcount-related costs in Q3.
Watch Items from the Filing
MOVEit Vulnerability litigation: MDL class action filed August 28, 2026; court granted partial motions to dismiss 23 of 33 claims; fact discovery ends September 29, 2026; MDL not expected to conclude within 12 months. Company incurred $3.5M net costs Q3 2026 (net of $1.1M insurance); all cybersecurity insurance coverage exhausted as of August 31, 2026.
Debt refinancing and acquisition: Company redeemed $361.8M of convertible notes due 2026 in April, funded by drawing $360M revolving credit facility at 5.44% (higher rate than 1.0% notes). Subsequently acquired Domo for ~$400M on September 22, 2026, also funded via credit facility, increasing leverage.
ARR growth slowing: ARR of $873M as of August 31, 2026 increased only 1% YoY versus prior year; net retention rate remains 99–100%, but top-line ARR growth deceleration suggests customer expansion pressures.
Revenue composition shift: Maintenance revenue declining 5% YoY in Q3; software licenses flat YoY in Q3 despite 16% growth in nine-month period, indicating Q3 timing headwinds on renewal contracts.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Gawlick RainerDirectorGrant or award · Jul 2, 2026
Congress trading in PRGS
3 transactions in PRGS reported by 2 members of Congress under the STOCK Act, most recent trade Aug 31, 2026. Reported transactions, not recommendations.
About PROGRESS SOFTWARE CORP /MA (PRGS): stock profile, AI score and financials
PROGRESS SOFTWARE CORP /MA (PRGS) stock profile, AI quality score, and SEC EDGAR financial data, a Technology sector company. 13F Pro's AI-powered ranking engine scores PRGS at 66.3/100 on a composite quality score built from its SEC filings, placing it at rank #420 of 2,925 stocks — the top 25% of the AI-ranked universe. PRGS scores in the top quartile across free cash flow (86.0), earnings quality (83.5), revenue growth (78.5). Areas of concern include institutional flow (27.9), which score below median versus the broader universe. Shareholder dilution risk is elevated at 20.6/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q3 2026), PROGRESS SOFTWARE CORP /MA reports quarterly revenue of $246.0M, net income of $22.8M, an operating margin of 18.9%. Top institutional holders of PRGS by reported 13-F value include BlackRock, LINDEN ADVISORS, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. PRGS trades on the Nasdaq exchange and files with the SEC under CIK 876167. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate PRGS daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for PROGRESS SOFTWARE CORP /MA directly from SEC EDGAR.