The financials
Progress Software Corporation by the numbers
Progress Software Corporation (PRGS) reported revenue of $253M in Q2 2026 (quarter ended May 31, 2026), up 6.8% from the same quarter a year earlier. That came with a gross margin of 82% and net income of $21M (8.3% of revenue). For the full year FY2025, revenue was $978M (+30% year on year) and net income $73M. Its largest product in 2026-Q2 was Maintenance at $101M, 40% of the disclosed total, just ahead of Software As A Service at 29%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $253M | $237M | +6.8% |
| Gross profit | $209M | $190M | +9.7% |
| Operating income | $45M | $39M | +17% |
| Net income | $21M | $17M | +24% |
| Diluted EPS | $0.50 | $0.39 | +28% |
| Product | Revenue | Share |
|---|---|---|
| Maintenance | $101M | 40% |
| Software As A Service | $73M | 29% |
| Software Licenses | $69M | 27% |
| Service | $10M | 4.0% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $253.5M (+2.3%)
Software Licenses grew +36% year on yearService -6.4% year on year
Segment Latestquarter on quarteryear on year
- Maintenance$101.2M$101.2MQoQ +0.88%year on year -2.2%+0.88%-2.2%
- Software As A Service$73.0M$73.0MQoQ +3.6%year on year +1.2%+3.6%+1.2%
- Software Licenses$69.0M$69.0MQoQ +2.1%year on year +36%+2.1%+36%
- Service$10.3M$10.3MQoQ +8.9%year on year -6.4%+8.9%-6.4%
Software - Infrastructure
Ranks #30 of 78 by Smart Score