Jun. 30 at 10:00 PM
$PRGS Q2 came in clean, both EPS and revenue beat, nothing flashy but very consistent execution.
Adj EPS
$1.62 vs
$1.40 YoY up ~16%
Revenue
$253M vs
$237M YoY up ~7%
What stands out more is guidance creep higher:
FY26 EPS now
$6.09 to
$6.21 vs
$5.98
FY26 revenue raised to ~
$1B range
Q3 EPS also above consensus
This is not a hype story, it’s steady software compounding with incremental upgrades every quarter. Market usually underreacts to this type of “boring beat and raise” until it doesn’t.
Feels like
$PRGS is just quietly tightening fundamentals while multiples stay compressed.
Anyone here holding this or still waiting for a re-rating to show up in price?