PROGRESS SOFTWARE CORP /MA — Form 8-K
Filed September 30, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 72/100
What the filing says
Progress Software completed acquisition of Domo's AI and Data Platform business for $400M cash on September 22, 2026. Q3 2026 revenue was $246M (down 2% YoY); ARR reached $873M (up 1% YoY constant currency). Non-GAAP operating margin 43%, non-GAAP EPS $1.69 (up 13% YoY). Company raised FY2026 revenue guidance to $1,044M–$1,052M (from $990M–$1,002M) and non-GAAP EPS to $6.15–$6.23 (from $6.09–$6.21). Post-acquisition pro forma net leverage approximately 2.9x; Domo adds ~$21M incremental FY2027 interest expense.
Why this rating
Large acquisition (15% of market cap) with debt-funded cash outlay signals growth strategy execution and AI platform expansion. Modest revenue growth and 99% NRR show underlying softness offset by strong margin and FCF. Domo integration risk and leverage elevation warrant caution.
Price action (we called it positive)
before filing · preread $39.72 | at our read pending | +10 min pending | +30 min pending | +1 hr pending | +4 hrs pending |
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