Filing Flows › Progress Software (PRGS) › Q2 FY26 › vs Q1 FY26
Progress Software (PRGS) Q2 FY26 vs Q1 FY26 (quarter over quarter)
Progress Software's revenue rose $5.7M (+2%) from $248M in Q1 FY26 to $253M in Q2 FY26. The biggest changes: Maintenance, SaaS, and professional services +$4.3M (+2%); Software licenses +$1.4M (+2%). Gross margin 82.3% against 82.3% (-0.0 pts).
Progress Software, Q2 FY26: revenue $253M (+7% year over year), operating margin 17.8%, net earnings $21.1M, operating cash flow $78.8M. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q2 FY26 | Q1 FY26 | Change | |
|---|---|---|---|
| Gross margin | 82.3% | 82.3% | -0.0 pts |
| Operating margin | 17.8% | 18.8% | -0.9 pts |
| Net margin | 8.3% | 9.2% | -0.9 pts |
| Free cash flow margin | 30.4% | 38.7% | -8.3 pts |
Every line
| Line | Q2 FY26 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| Maintenance, SaaS, and professional services | $184M | $180M | $4.3M | +2% |
| Software licenses | $69.0M | $67.6M | $1.4M | +2% |
| Revenue | $253M | $248M | $5.7M | +2% |
| Gross profit | $209M | $204M | $4.7M | +2% |
| Cost of revenue | $44.9M | $43.9M | $1.0M | +2% |
| Operating profit | $45.2M | $46.5M | −$1.3M | -3% |
| Operating expenses | $163M | $157M | $5.9M | +4% |
| Pre-tax earnings | $28.8M | $30.3M | −$1.5M | -5% |
| Other expense, net | $16.4M | $16.2M | $189K | +1% |
| Sales & marketing | $54.3M | $52.0M | $2.3M | +5% |
| General & admin | $32.2M | $26.5M | $5.7M | +22% |
| Other operating costs | $76.8M | $79.0M | −$2.2M | -3% |
| Net earnings | $21.1M | $22.8M | −$1.7M | -8% |
| Income tax | $7.8M | $7.5M | $288K | +4% |
| Depreciation & amortization | $36.9M | $35.9M | $966K | +3% |
| Share-based compensation | $20.5M | $18.5M | $2.0M | +11% |
| Working capital & other | $393K | $21.4M | −$21.1M | -98% |
| Operating cash flow | $78.8M | $98.6M | −$19.8M | -20% |
| Free cash flow (OCF − capex) | $77.0M | $95.9M | −$18.9M | -20% |
| Capital expenditures | $1.9M | $2.7M | −$841K | -31% |
Questions
How much did Progress Software's revenue grow quarter over quarter in Q2 FY26?
Progress Software's revenue rose $5.7M (+2%) from $248M in Q1 FY26 to $253M in Q2 FY26.
What drove Progress Software's revenue change in Q2 FY26?
Maintenance, SaaS, and professional services +$4.3M (+2%); Software licenses +$1.4M (+2%).