Progress Software Beats Q3 Earnings Estimates Despite Slight Revenue Miss

Key Facts

1Progress Software reported non-GAAP EPS of $1.69, exceeding the estimated $1.52.

2Company revenue reached $246 million, slightly missing the analyst estimate of $247.3 million.

3Annual recurring revenue (ARR) reached $873 million, representing a 1% year-over-year increase.

Progress Software reported non-GAAP earnings per share of $1.69 for the third fiscal quarter of 2026, exceeding the analyst estimate of $1.52. Financial Modeling Prep reported that company revenue reached $246 million, slightly missing the $247.3 million anticipated by the market.

Annual recurring revenue (ARR) grew by 1% year-over-year to reach $873 million, while improved operating margins and free cash flow supported the earnings beat. PRGS closed at $36.58 on October 1, 2026, having reached a session high of $41.65 during that day.