PROGRESS SOFTWARE CORP /MA — Form 8-K/A
Filed October 29, 2026 · analyzed by the 8-K Agent
8-K/A
▼ Likely negative
significance 62/100
What the filing says
On September 22, 2026, Progress Software completed its acquisition of Domo, Inc. for a base purchase price of $400.0 million (total consideration $403.2 million including transaction costs), funded through $390.0 million in borrowings under its existing $1.5 billion revolving credit facility and cash on hand. The acquisition included $188.0 million of customer relationship intangibles, $103.0 million of purchased technology, and $11.5 million of trade name assets, with $168.8 million allocated to goodwill. Pro forma results show combined six-month revenue of $657.5 million (H1 2026) and a dramatic shift to pro forma net loss of $(13.7) million for fiscal year 2025 (vs. Progress standalone net income of $73.1 million), driven by $60.7 million in combined amortization of acquired intangibles and $390 million in new debt burden.
Why this rating
Acquisition is 15.5% of company market cap; meaningful but not transformational. Pro forma results show material near-term earnings accretion risk due to $60.7M annual intangible amortization and $21.5M additional interest expense, offsetting Domo's $156M–$319M revenue. Domo unprofitable; integration risk substantial. Debt-funded deal increases leverage materially.
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