PROGRESS SOFTWARE CORP /MA (PRGS)

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PROGRESS SOFTWARE CORP /MA

PRGS • CIK 0000876167

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Gross Profit	$567,862	$622,927	$790,250	$822,206
Operating Income (Loss)	$110,523	$124,003	$153,290	$176,591
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	$79,657	$94,264	$81,628	$110,921
Income Tax Expense (Benefit)	$9,460	$25,826	$8,495	$18,514
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	$70,197	$68,438	$73,133	$92,407
Revenue from Contract with Customer, Excluding Assessed Tax	$694,439	$753,409	$977,831	$999,935
Cost, Amortization	$30,169	$29,222	$41,226	$36,109
Cost of Revenue	$126,577	$130,482	$187,581	$177,729
Selling and Marketing Expense	$156,076	$164,570	$211,013	$214,990
Research and Development Expense, Software (Excluding Acquired in Process Cost)	$132,401	$146,342	$192,265	$195,256
General and Administrative Expense	$83,157	$89,518	$108,215	$114,168
Restructuring Charges	$8,407	$10,454	$13,109	$6,462
Business Combination, Acquisition Related Costs	$4,704	$17,109	$5,317	$4,085
Operating Expenses	$457,339	$498,924	$636,960	$645,615
InterestExpenseNonoperating	—	$32,012	$70,850	$64,610
Other Nonoperating Income (Expense)	$2,538	$4,734	$1,759	$2,025
Foreign Currency Transaction Gain (Loss), before Tax	$-2,624	$-2,461	$-2,571	$-3,085
Nonoperating Income (Expense)	$-30,866	$-29,739	$-71,662	$-65,670
Weighted Average Number of Shares Outstanding, Basic	43,456,000	43,268,000	42,996,000	41,603,000
Weighted Average Number of Shares Outstanding, Diluted	44,658,000	44,427,000	44,019,000	41,938,000
Weighted Average Number Diluted Shares Outstanding Adjustment	1,158,000	992,000	891,000	379,000
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities	44,000	167,000	132,000	-44,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	297,000	699,000	1,088,000	4,029,000

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Cash and Cash Equivalents, at Carrying Value	$126,958	$118,077	$94,807	$113,653
Accounts Receivable, after Allowance for Credit Loss, Current	$125,825	$163,575	$195,783	$118,811
Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent	$28,373	$28,893	$29,950	$39,413
Contract with Customer, Asset, after Allowance for Credit Loss, Current	$29,965	$34,672	$46,599	$50,158
Property, Plant and Equipment, Net	$15,225	$13,746	$13,694	$15,263
Other Assets, Current	$48,040	$52,489	$62,776	$47,376
Intangible Assets, Net (Excluding Goodwill)	$354,278	$723,571	$584,028	$479,473
Assets, Current	$330,788	$368,813	$399,965	$329,998
Goodwill	$832,101	$1,292,177	$1,309,054	$1,309,737
Operating Lease, Right-of-Use Asset	$18,711	$30,894	$25,842	$29,751
Deferred Income Tax Assets, Net	$15,052	$56,179	$77,442	$83,829
Other Assets, Noncurrent	$8,255	$12,693	$17,683	$15,129
Assets	$1,602,783	$2,526,966	$2,457,658	$2,302,593
Other Long-term Debt, Noncurrent	$356,111	$730,000	$600,000	$790,000
Convertible Debt, Noncurrent	$354,772	$796,267	$441,186	$442,635
Operating Lease, Liability, Noncurrent	$13,000	$26,259	$21,077	$24,648
Contract with Customer, Liability, Noncurrent	$58,946	$72,270	$100,329	$94,531
Deferred Income Tax Liabilities, Net	$3,574	$2,279	$1,158	$1,156
Other Liabilities, Noncurrent	$4,547	$5,958	$5,825	$5,017
Accounts Payable, Current	$12,371	$13,910	$15,934	$10,155
Employee-related Liabilities, Current	$49,559	$64,672	$71,804	$54,089
Convertible Debt, Current	—	—	$359,163	$0
Operating Lease, Liability, Current	$10,114	$9,202	$8,490	$7,750
Other Accrued Liabilities, Current	$22,499	$35,219	$29,593	$30,698
Contract with Customer, Liability, Current	$236,090	$332,142	$324,750	$311,936
Liabilities, Current	$352,118	$455,145	$809,734	$414,628
Preferred Stock, Value, Issued	$0	$0	$0	$0
Common Stock, Value, Issued	$438	$434	$423	$410
Additional Paid in Capital	$370,579	$354,158	$383,696	$431,713
Retained Earnings (Accumulated Deficit)	$120,858	$120,405	$127,373	$133,365
Accumulated Other Comprehensive Income (Loss), Net of Tax	$-32,160	$-36,209	$-33,143	$-35,510
Stockholders' Equity Attributable to Parent	$459,715	$438,788	$478,349	$529,978
Preferred Stock, Shares Authorized	10,000,000	10,000,000	10,000,000	10,000,000
Preferred Stock, Shares Issued	0	0	0	0
Common Stock, Shares Authorized	200,000,000	200,000,000	200,000,000	200,000,000
Common Stock, Shares, Issued	43,795,955	43,360,695	42,335,700	40,952,367

(in thousands, except per share data)	FY 2023	FY 2024	FY 2025	TTM
Net Income (Loss) Attributable to Parent	$70,197	$68,438	$73,133	$92,407
Net Cash Provided by (Used in) Operating Activities	$173,920	$211,494	$235,187	$328,272
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$5,955	$-3,290	$6,831	$-3,066
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$-129,319	$-8,881	$-23,270	$14,645
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$126,958	$118,077	$94,807	$83,817
Depreciation	$6,345	$6,426	$6,232	$6,046
Payments to Acquire Investments	$15,262	$0	$0	$0
Proceeds from Sale, Maturity and Collection of Investments	$15,700	$0	$0	$0
Amortization of Debt Issuance Costs and Discounts	$2,147	$3,525	$5,831	$6,728
Payments to Acquire Property, Plant, and Equipment	$5,570	$5,206	$5,702	$9,126
Share-based Payment Arrangement, Noncash Expense	$40,529	$46,756	$64,768	$72,436
Payments to Acquire Businesses, Net of Cash Acquired	$355,250	$852,702	$21,217	$564
Net Cash Provided by (Used in) Investing Activities	$-360,382	$-857,908	$-26,919	$-9,690
Increase (Decrease) in Deferred Income Taxes	$28,641	$7,750	$23,429	$16,999
Accounts Receivable, Credit Loss Expense (Reversal)	$488	$544	$4,519	$11,000
Proceeds, Issuance of Shares, Share-based Payment Arrangement, Including Option Exercised	$25,956	$27,761	$18,968	$13,601
Payment, Tax Withholding, Share-based Payment Arrangement	$12,377	$17,170	$15,184	$11,712
Payments for Repurchase of Common Stock	$33,962	$86,777	$105,156	$112,010
Proceeds from Notes Payable	$0	$438,750	$0	$0
Payments of Dividends	$31,554	$31,460	$786	$500
Proceeds from Issuance of Long-term Debt	$195,000	$730,000	$0	$0
Repayments of Long-term Lines of Credit	$85,000	$110,000	$130,000	$190,000
Repayments of Long-term Debt	$6,875	$261,250	$0	$0
Payments of Stock Issuance Costs	$0	$6,821	$6,211	$250
Net Cash Provided by (Used in) Financing Activities	$51,188	$640,823	$-238,369	$-300,871
Income Taxes Paid, Net	$39,771	$32,386	$34,353	$38,355
Interest Paid, Excluding Capitalized Interest, Operating Activities	$23,867	$21,771	$63,524	$58,736
Increase (Decrease) in Accounts Receivable	$-12,119	$45,880	$46,570	$625
Increase (Decrease) in Other Operating Assets	$1,579	$2,897	$9,875	$-1,815
Increase (Decrease) in Inventories	$-2,489	$0	$0	$0
Increase (Decrease) in Accounts Payable and Accrued Liabilities	$-1,242	$28,922	$-798	$-5,473
Increase (Decrease) in Income Taxes Payable	$-553	$442	$3,165	$-2,118
Increase (Decrease) in Contract with Customer, Liability	$-24,102	$16,183	$13,544	$25,190
Dividends Payable, Current	$8,376	$0	$0	$0
Business Combination, Contingent Consideration, Liability	—	—	$1,080	$2,160
Payments of Debt Issuance Costs	$9,900	$11,200	$11,200	$11,200
Proceeds from Income Tax Refunds	$965	$2,881	$2,509	$1,761

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=jivedata("PRGS","financials")

Full statements spill as a table. For one cell: =jivedata("PRGS","Revenue") or =jivedata("PRGS","Revenue","TTM"). Install the Jive Data add-on, then paste into a cell.