Filing Flows › Progress Software (PRGS) › Q2 FY26
Progress Software (PRGS) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jun 30, 2026
Progress Software (PRGS) reported revenue of $253M for the second quarter fiscal 2026 (Q2 FY26), +7% from a year earlier and +2% from the quarter before. Operating margin was 17.8%, net earnings $21.1M (8.3% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $253M | +2% | +7% |
| Gross profit | $209M | +2% | +10% |
| Operating profit | $45.2M | -3% | +17% |
| Net earnings | $21.1M | -8% | +24% |
| Operating cash flow | $78.8M | -20% | +163% |
| Free cash flow | $77.0M | -20% | +161% |
What changed
Revenue was $253.5M in Q2 FY26, up 7% year over year and up 2% from the previous quarter. Maintenance, SaaS, and professional services was the largest line at 73% of revenue. Software licenses added $18.2M year over year (up 36%), 113% of the total change. Maintenance, SaaS, and professional services declined 1%.
Gross margin was 82.3%, up 2.2 points from Q2 FY25. Operating profit was $45.2M, a 17.8% margin (up 1.6 points year over year). Of the extra revenue versus Q2 FY25, 41% reached operating profit, above the 16% margin then. Operating expenses grew 8% against revenue growth of 7%. The fastest-growing cost line was General & admin (+26%). Net earnings were $21.1M, up 24% year over year. The effective tax rate was 26.9%.
Operating cash flow was $78.8M (up 163% year over year), 374% of net earnings. Non-cash charges added back $36.9M of depreciation and amortization and $20.5M of share-based compensation. Capital expenditures of $1.9M left free cash flow of $77.0M.
Questions
What was Progress Software's revenue in the second quarter fiscal 2026?
Progress Software (PRGS) reported revenue of $253M for the second quarter fiscal 2026 (Q2 FY26), +7% from a year earlier and +2% from the quarter before.
Was Progress Software profitable in the second quarter fiscal 2026?
Operating profit was $45.2M (17.8% of revenue) and net earnings $21.1M.
Source: Progress Software 10-Q on SEC EDGAR.