NASDAQ$PRGS
Progress Software Corporation · Q4 2021 earnings
Q4 2021 earnings · · Investor relations
Briefing
Progress Software's Q4 2021 earnings significantly surpassed guidance, driven by the successful integration of Kemp and overall strong financial performance.
Progress Software reported a strong Q4 2021, with revenue of $140.1 million, a 14% increase year-over-year, and non-GAAP EPS of $0.92, a 1% increase year-over-year. The company's performance significantly exceeded guidance, driven by the acquisition of Kemp and strong financial results.
- Revenue reached $140.1 million, reflecting a 14% year-over-year increase.
- Non-GAAP revenue was $143.7 million, up 11% year-over-year.
- ARR increased by 12% year-over-year, reaching $486 million.
- Non-GAAP diluted earnings per share increased to $0.92, up 1% year-over-year.
Headline financials
Revenue & EPS history
Progress Software · Revenue · Quarterly
$144M
Revenue by segment
Progress Software · $140M total across 2 segments · Q4 2021
- Maintenance$98.9M+16.4%70.6%
- Software Licenses$41.2M+10.1%29.4%
Forward guidance
Progress provided guidance for the fiscal year ending November 30, 2022, projecting GAAP revenue between $597 million and $607 million and non-GAAP revenue between $605 million and $615 million. They also expect GAAP diluted earnings per share between $1.93 and $2.03 and non-GAAP diluted earnings per share between $3.95 and $4.05.
Tailwinds
- Projected GAAP revenue between $597 million and $607 million.
- Projected non-GAAP revenue between $605 million and $615 million.
- Expected GAAP diluted earnings per share between $1.93 and $2.03.
- Expected non-GAAP diluted earnings per share between $3.95 and $4.05.
- Anticipated cash from operations (GAAP) / Adjusted free cash flow (Non-GAAP) between $188 million and $193 million / $185 million and $190 million.
Headwinds
- Expected negative currency translation impact on GAAP and non-GAAP revenue of approximately $7.5 million.
- Expected negative currency translation impact on GAAP and non-GAAP diluted earnings per share of approximately $0.03.
- Potential for delays or size reductions in transactions.
- Possible fluctuations in currency exchange rates.
- Risk of decline in renewal rates for contracts.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q4 2021
+1.8%
Avg return
Earnings day
+1.8%
Avg return
5 days after
+3.1%
Avg return
30 days after
59%
40 / 68 earnings
Positive
+19.8%
Q1 2019
Best reaction
-15.5%
Q3 2018
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | -9.3% | -4.0% | — | |
| Q4 2025 | +10.7% | +11.1% | +4.5% | |
| Q3 2025 | +3.2% | +8.4% | -1.8% | |
| Q2 2025 | +1.8% | +0.3% | -4.0% | |
| Q1 2025 | +12.1% | +9.0% | +16.7% | |
| Q4 2024 | -9.0% | -15.8% | -10.1% | |
| Q3 2024 | +12.4% | +16.6% | +14.5% | |
| Q2 2024 | +12.2% | +10.8% | +17.3% | |
| Q1 2024 | -0.2% | +1.0% | -3.9% | |
| Q4 2023 | +4.7% | +7.2% | +4.4% | |
| Q3 2023 | -6.2% | -6.4% | -9.9% | |
| Q2 2023 | +8.4% | +10.0% | +9.0% | |
| Q1 2023 | -5.2% | -2.4% | -6.6% | |
| Q4 2022 | -3.7% | -3.4% | +8.0% | |
| Q3 2022 | +2.5% | +3.0% | +20.1% | |
| Q2 2022 | -9.2% | -11.4% | -8.2% | |
| Q1 2022 | +3.3% | +5.3% | +8.3% | |
| Q4 2021 | -6.2% | -3.1% | -2.0% | |
| Q3 2021 | +17.5% | +8.3% | +13.1% | |
| Q2 2021 | +2.2% | +2.7% | +1.6% | |
| Q1 2021 | +5.9% | +4.5% | +11.5% | |
| Q4 2020 | -7.0% | -10.2% | -8.6% | |
| Q3 2020 | -1.6% | +1.3% | -3.0% | |
| Q2 2020 | +2.5% | +5.6% | -5.8% | |
| Q1 2020 | -0.7% | -3.7% | +13.4% | |
| Q4 2019 | +8.4% | +4.2% | -0.5% | |
| Q3 2019 | -3.8% | -6.2% | -2.2% | |
| Q2 2019 | +9.4% | +1.7% | +9.5% | |
| Q1 2019 | +19.8% | +20.6% | +22.8% | |
| Q4 2018 | -4.7% | -4.1% | +3.0% | |
| Q3 2018 | -15.5% | -17.5% | -25.4% | |
| Q2 2018 | +14.4% | +8.3% | +6.8% | |
| Q1 2018 | -0.4% | -3.6% | -4.1% | |
| Q4 2017 | +15.6% | +15.9% | +6.2% | |
| Q3 2017 | +0.5% | +3.4% | +13.4% | |
| Q2 2017 | +1.9% | +2.7% | +6.8% | |
| Q1 2017 | +3.7% | +3.0% | +5.0% | |
| Q4 2016 | -14.3% | -12.6% | -10.5% | |
| Q3 2016 | -2.6% | -1.5% | -4.5% | |
| Q2 2016 | +10.9% | +12.2% | +17.4% | |
| Q1 2016 | -4.7% | — | — | |
| Q4 2015 | -0.7% | — | — | |
| Q3 2015 | -11.0% | — | — | |
| Q2 2015 | +8.7% | — | — | |
| Q1 2015 | -5.6% | — | — | |
| Q4 2014 | -4.3% | — | — | |
| Q3 2014 | +4.3% | — | — | |
| Q2 2014 | +8.4% | — | — | |
| Q1 2014 | -3.2% | — | — | |
| Q4 2013 | -5.2% | — | — | |
| Q3 2013 | +4.4% | — | — | |
| Q2 2013 | +7.3% | — | — | |
| Q1 2013 | +1.4% | — | — | |
| Q4 2012 | +2.2% | — | — | |
| Q3 2012 | +7.9% | — | — | |
| Q2 2012 | -0.9% | — | — | |
| Q1 2012 | +1.1% | — | — | |
| Q4 2008 | +4.3% | — | — | |
| Q4 2011 | +4.3% | — | — | |
| Q3 2011 | +2.6% | — | — | |
| Q2 2011 | -1.4% | — | — | |
| Q1 2010 | -2.3% | — | — | |
| Q1 2011 | -4.7% | — | — | |
| Q4 2010 | +5.8% | — | — | |
| Q2 2010 | +5.8% | — | — | |
| Q4 2009 | +5.4% | — | — | |
| Q3 2009 | +5.4% | — | — | |
| Q3 2010 | +5.4% | — | — |
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