Progress Software raised its full-year 2026 earnings per share guidance to a range of $6.09 to $6.21, an increase of $0.18 from its prior outlook, while targeting a year-end net leverage ratio of approximately 2.8 times. For the second quarter, the company reported revenue of $253 million, exceeding the high end of its guidance, with operating margin of 40% and earnings per share of $1.62. Annual recurring revenue reached $868 million, representing 2% pro forma year-over-year growth, and the net retention rate improved to 100%. The company also launched Chef Enterprise Management for NVIDIA's DGX Spark and highlighted AI-driven demand in its data platform products. Progress expects full-year revenue between $990 million and just over $1 billion, with adjusted free cash flow of $271 million to $283 million, and plans approximately $220 million in net debt repayment and $75 million in share repurchases for the year.
Progress Software CorporationRaised full-year EPS guidance, beat Q2 revenue expectations, and announced debt repayment and share repurchases.
NVIDIA Corporation