Progress Software Corp
progress.comWhat Do They Do?
Sells software for developing, deploying, and managing business applications and digital experiences to companies, government agencies, and developers.
10-K for FY2025, filed Jan 20, 2026Progress Software Corporation ("Progress," the "Company," "we," "us," or "our") provides software products that enable our customers to…View ↗
Progress OpenEdge: An application development platform for running business-critical applications needing high-performance, high…View ↗
We sell our products globally directly to end users and through various indirect sales channels. Sales of our products through our direct…View ↗
How Do They Make Money?
Customers pay upfront for perpetual software licenses, while term licenses and maintenance contracts are generally billed in advance. SaaS subscriptions are billed in advance over the contract term, and professional services are paid for as delivered or prepaid.
10-K for FY2025, filed Jan 20, 2026Perpetual licenses are generally invoiced upon execution of the contract and payable within thirty days. Term licenses are generally…View ↗
Maintenance revenue is made up of technical support, bug fixes, and when-and-if available unspecified software upgrades. As these…View ↗
We also offer products via a SaaS model, which is a subscription-based model. Our customers can use hosted software over the contract…View ↗
Professional services revenue primarily includes consulting and customer education services. In general, professional services are distinct…View ↗
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10-K for FY2025, filed Jan 20, 2026
FY2025 revenue by product or service ↗
$977.8M
-
10-K for FY2025, filed Jan 20, 2026
$977.8M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Software licenses
Sold outright
10-K for FY2025, filed Jan 20, 2026 |
24%
FY2022: 31%
|
Software licenses, FY2025
$237.9M Sources
|
Sold outright |
|
Maintenance, SaaS, and professional services
Mix
10-K for FY2025, filed Jan 20, 2026 |
76%
FY2022: 69%
|
Maintenance, SaaS, and professional services, FY2025
$739.9M Sources
|
Mix |
Who Are Their Customers?
Sells directly to business and IT managers at corporations and government agencies, and to developers; nearly half of worldwide revenue comes through software vendors, equipment makers, distributors, and resellers. These partners embed, bundle, or resell Progress products.
10-K for FY2025, filed Jan 20, 2026We sell our products globally directly to end users and through various indirect sales channels. Sales of our products through our direct…View ↗
Nearly half of our worldwide revenue is realized through relationships with indirect channel partners, principally independent software…View ↗
ISVs develop and market applications using our technology and resell our products in conjunction with sales of their own products that…View ↗
OEMs are companies that embed our products into their own software products or devices. We enter into arrangements with OEMs in which the…View ↗
We enter into arrangements with VARs in which the VARs add features or services to our product, then resell it as an integrated product or…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 7 cents of every revenue dollar as net income in FY2025 and turned 23 cents into free cash flow.
10-K for FY2025, filed Jan 20, 2026
$153.3MView ↗
10-K for FY2025, filed Jan 20, 2026
$73.1MView ↗
10-K for FY2025, filed Jan 20, 2026
$229.5MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q3 FY2026, filed Sep 30, 2026
$22.8MView ↗
- ▲ +17%
- vs $19.4M in Q3 FY2025
10-Q for Q3 FY2026, filed Sep 30, 2026
Open tableView ↗
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Jul 22, 2026
Agreed to acquire Domo’s AI and data platform business
The proposed asset purchase would add Domo’s software products and customer base, with closing subject to regulatory approvals and other conditions.
Sources
8-K, filed Jul 22, 2026
On July 22, 2026, Progress Software Corporation (“Progress”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Domo…View ↗
Growing. Revenue grew 84% in 4 years, from $531.3M in FY2021 to $977.8M in FY2025, about 16% a year.
Broader AI focus
The latest report describes products for developing and managing AI-powered applications and digital experiences, alongside tools for data, network, and application management. The older report framed the business around developing, deploying, and managing business applications.
10-K for FY2022, filed Jan 27, 2023 10-K for FY2025, filed Jan 20, 2026Progress Software Corporation ("Progress," the "Company," "we," "us," or "our") provides software products that enable our customers to…View ↗
Progress Agentic RAG: A next-generation Agentic Rag-as-a-Service platform offering fast, flexible, and modular retrieval functionality to…View ↗
Progress Semaphore: Semantic AI platform that transforms data into meaningful insights, empowering organizations to leverage RAG for…View ↗
Progress Sitefinity: Digital experience platform foundation, delivering intelligent, AI-powered, ROI-driving tools for marketers and an…View ↗
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