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Progress Software ( (PRGS) ) has issued an announcement.
In its fiscal fourth quarter and full year results for 2024, Progress Software reported significant financial growth, with an annualized recurring revenue increase of 46% year-over-year and cash flow from operations growing by 22%. The company completed the acquisition of ShareFile, a SaaS-native AI-powered collaboration platform, and plans to utilize the capital from its suspended dividend payment toward debt repayment and future investments. This strategic move is expected to enhance Progress’s market position and drive meaningful synergies.
More about Progress Software
Progress Software is a provider of AI-powered digital experiences and infrastructure software, focusing on mission-critical business applications for over a hundred thousand businesses.
YTD Price Performance: -2.74%
Average Trading Volume: 451,894
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.7B
Learn more about PRGS stock on TipRanks’ Stock Analysis page.
