Progress Software Corp

Progress Software Corporation (Nasdaq: PRGS) is an AI infrastructure software company that provides the context and control organizations need to reliably extract value from AI. The company's platform draws context from an organization's data, content and workflows, and provides control over the security, governance and cost of AI initiatives. Progress serves hundreds of thousands of businesses powering the work of tens of millions of professionals worldwide. Its product portfolio spans software licenses, maintenance, SaaS offerings, and professional services across North America, EMEA, Latin America, and Asia Pacific. The company pursues a 'Total Growth Strategy' centered on organic product innovation, disciplined M&A (including the recently closed acquisition of Domo's AI and data platform business for $400 million), and customer retention. Progress generates the substantial majority of its revenue from recurring sources, with an annualized recurring revenue base of $873 million. The company also maintains a $450 million convertible senior notes issuance and a $1.5 billion revolving credit facility. Updated Sep 30, 2026