Filing Flows › Progress Software (PRGS) › Q1 FY26
Progress Software (PRGS) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Mar 31, 2026
Progress Software (PRGS) reported revenue of $248M for the first quarter fiscal 2026 (Q1 FY26), +4% from a year earlier and -2% from the quarter before. Operating margin was 18.8%, net earnings $22.8M (9.2% of revenue).
Progress Software, Q1 FY26: revenue $248M (+4% year over year), operating margin 18.8%, net earnings $22.8M, operating cash flow $98.6M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $248M | -2% | +4% |
| Gross profit | $204M | -1% | +6% |
| Operating profit | $46.5M | +21% | +43% |
| Net earnings | $22.8M | -11% | +108% |
| Operating cash flow | $98.6M | +57% | +43% |
| Free cash flow | $95.9M | +60% | +42% |
What changed
Revenue was $247.8M in Q1 FY26, up 4% year over year and down 2% from the previous quarter. Maintenance, SaaS, and professional services was the largest line at 73% of revenue. Software licenses added $9.1M year over year (up 16%), 93% of the total change.
Gross margin was 82.3%, up 1.7 points from a year earlier. Operating profit was $46.5M, a 18.8% margin (up 5.1 points year over year). Of the extra revenue versus a year earlier, 143% reached operating profit, above the 14% margin then. Operating expenses fell 1% while revenue rose 4%. Net earnings were $22.8M, up 108% year over year. The effective tax rate was 24.7%.
Operating cash flow was $98.6M (up 43% year over year), 432% of net earnings. Non-cash charges added back $35.9M of depreciation and amortization and $18.5M of share-based compensation. Working capital and other items added $21.4M. Capital expenditures of $2.7M left free cash flow of $95.9M.
Questions
What was Progress Software's revenue in the first quarter fiscal 2026?
Progress Software (PRGS) reported revenue of $248M for the first quarter fiscal 2026 (Q1 FY26), +4% from a year earlier and -2% from the quarter before.
Was Progress Software profitable in the first quarter fiscal 2026?
Operating profit was $46.5M (18.8% of revenue) and net earnings $22.8M.
Source: Progress Software 10-Q on SEC EDGAR.