Progress Software Corporation (PRGS) Financial Statements (2024 and earlier)

Company Profile

Business Address 15 WAYSIDE ROAD, SUITE 400
BURLINGTON, MA 01803
State of Incorp. DE
Fiscal Year End November 30
Industry (SIC) 7372 - Prepackaged Software (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

8/31/2023
MRQ
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
11/30/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments256,277157,373105,995173,685139,513183,609
Cash and cash equivalents256,277155,40697,990154,259105,126133,464
Short-term investments  1,9678,00519,42634,38750,145
Receivables97,83499,81584,04072,82058,45061,210
Inventory, net of allowances, customer advances and progress billings 5,0433,551    
Inventory 5,0433,551    
Contract with customer, asset, after allowance for credit loss29,15825,81624,91710,880 
Asset, held-for-sale, not part of disposal group  15,255    
Other current assets42,78439,54923,98327,28025,08018,588
Other undisclosed current assets (5,043)(3,551)  5,776 
Total current assets:426,053337,808238,935284,665228,819263,407
Noncurrent Assets
Operating lease, right-of-use asset17,57425,25330,635 
Property, plant and equipment14,92714,34529,81729,76530,71442,261
Intangible assets, net (including goodwill)888,392958,337704,473532,216373,911409,935
Goodwill671,037671,152491,726432,824314,992315,041
Intangible assets, net (excluding goodwill)217,355287,185212,74799,39258,91994,894
Contract with customer, asset, after allowance for credit loss39,93617,46417,13312,492 
Deferred income tax assets11,7651,41514,49018,601
Other noncurrent assets12,8328,9156,2993,5325,2431,992
Other undisclosed noncurrent assets     1,9221,123
Total noncurrent assets:985,4261,025,729802,847596,606411,790455,311
TOTAL ASSETS:1,411,4791,363,5371,041,782881,271640,609718,718
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities76,62984,21570,89972,67457,00569,661
Interest and dividends payable7,9257,9047,4986,9986,619
Taxes payable 1,8991,4441,2281,173
Employee-related liabilities47,11636,81634,44425,50032,373
Accounts payable9,2829,6839,97810,60310,5939,000
Accrued liabilities67,34719,49114,30218,68512,68620,496
Deferred revenue227,670205,021166,387157,494
Debt6,23425,76718,24210,7175,8195,819
Deferred revenue and credits132,538
Contract with customer, liability133,194
Other undisclosed current liabilities7,4717,9267,015   
Total current liabilities:318,004322,929262,543240,885196,018208,018
Noncurrent Liabilities
Long-term debt and lease obligation611,845557,657391,226284,002110,270116,090
Long-term debt, excluding current maturities611,845534,527364,260284,002110,270116,090
Liabilities, other than long-term debt83,12670,46242,00026,10220,44215,717
Deferred revenue and credits9,750
Deferred revenue54,77047,35926,90819,752
Contract with customer, liability15,127
Deferred income tax liabilities4,62814,163 3
Other liabilities8,6878,94015,0926,3475,3155,967
Operating lease, liability15,04123,13026,966 
Total noncurrent liabilities:694,971628,119433,226310,104130,712131,807
Total liabilities:1,012,975951,048695,769550,989326,730339,825
Equity
Equity, attributable to parent398,504412,489346,013330,282310,082376,084
Common stock433441442450451473
Additional paid in capital331,650354,235305,802295,503266,602249,363
Accumulated other comprehensive loss(35,235)(32,443)(32,778)(29,974)(28,213)(18,999)
Retained earnings101,65690,25672,54764,30371,242145,247
Total equity:398,504412,489346,013330,282310,082376,084
Other undisclosed liabilities and equity     3,7972,809
TOTAL LIABILITIES AND EQUITY:1,411,4791,363,5371,041,782881,271640,609718,718

Income Statement (P&L) ($ in thousands)

8/31/2023
TTM
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
11/30/2017
Revenues602,013531,313442,150413,298397,165397,572
Revenue, net397,572
Cost of revenue(94,496)(78,449)(62,114)(75,241)(66,973)(69,159)
Cost of goods and services sold(22,076)(14,936)(7,897)(25,884) (69,159)
Gross profit:507,517452,864380,036338,057330,192328,413
Operating expenses(375,386)(336,762)(272,308)(297,973)(244,194)(257,799)
Operating income:132,131116,102107,72840,08485,99870,614
Nonoperating expense(14,876)(20,568)(11,093)(11,589)(7,018)(5,027)
Loss, foreign currency transaction, before tax(500)(1,300)(2,418)(2,819)(3,089)(1,317)
Other nonoperating income1,4147771,4951,1431,220921
Interest and debt expense(15,790)(20,045)(10,170)(9,913)(5,149)(4,631)
Other undisclosed income from continuing operations before equity method investments, income taxes   10,1709,9135,1494,631
Income from continuing operations before equity method investments, income taxes:101,46575,48996,63528,49578,98065,587
Other undisclosed income from continuing operations before income taxes15,79020,045    
Income from continuing operations before income taxes:117,25595,53496,63528,49578,98065,587
Income tax expense(22,186)(17,114)(16,913)(2,095)(15,489)(28,170)
Income from continuing operations:95,06978,42079,72226,40063,49137,417
Income before gain (loss) on sale of properties:78,42079,72226,40063,49137,417
Net income available to common stockholders, diluted:95,06978,42079,72226,40063,49137,417

Comprehensive Income ($ in thousands)

8/31/2023
TTM
11/30/2022
11/30/2021
11/30/2020
11/30/2019
11/30/2018
11/30/2017
Net income:95,06978,42079,72226,40063,49137,417
Other comprehensive income (loss)(2,792)(700)(1,600)503 9,562
Comprehensive income:92,27777,72078,12226,90363,49146,979
Other undisclosed comprehensive income (loss), net of tax, attributable to parent  1,035(1,204)(2,301)(9,214) 
Comprehensive income, net of tax, attributable to parent:92,27778,75576,91824,60254,27746,979

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

Login to ReadyRatios

 

Have you forgotten your password?

Are you a new user?

Login As
You can log in if you are registered at one of these services: