Progress Software Corp
NASDAQ:PRGS
Income Statement
Earnings Waterfall
Progress Software Corp
Revenue
|
694.4m
USD
|
Cost of Revenue
|
-126.6m
USD
|
Gross Profit
|
567.9m
USD
|
Operating Expenses
|
-438.1m
USD
|
Operating Income
|
129.8m
USD
|
Other Expenses
|
-59.6m
USD
|
Net Income
|
70.2m
USD
|
Income Statement
Progress Software Corp
Nov-2013 | Feb-2014 | May-2014 | Aug-2014 | Nov-2014 | Feb-2015 | May-2015 | Aug-2015 | Nov-2015 | Feb-2016 | May-2016 | Aug-2016 | Nov-2016 | Feb-2017 | May-2017 | Aug-2017 | Nov-2017 | Feb-2018 | May-2018 | Aug-2018 | Nov-2018 | Feb-2019 | May-2019 | Aug-2019 | Nov-2019 | Feb-2020 | May-2020 | Aug-2020 | Nov-2020 | Feb-2021 | May-2021 | Aug-2021 | Nov-2021 | Feb-2022 | May-2022 | Aug-2022 | Nov-2022 | Feb-2023 | May-2023 | Aug-2023 | Nov-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
334
N/A
|
325
-3%
|
324
0%
|
326
+1%
|
333
+2%
|
339
+2%
|
347
+2%
|
363
+4%
|
378
+4%
|
386
+2%
|
393
+2%
|
400
+2%
|
405
+1%
|
407
+0%
|
404
-1%
|
399
-1%
|
389
-3%
|
394
+1%
|
393
0%
|
389
-1%
|
379
-2%
|
373
-2%
|
380
+2%
|
394
+4%
|
413
+5%
|
433
+5%
|
434
+0%
|
437
+1%
|
442
+1%
|
454
+3%
|
476
+5%
|
514
+8%
|
531
+3%
|
555
+4%
|
581
+5%
|
585
+1%
|
602
+3%
|
621
+3%
|
651
+5%
|
675
+4%
|
694
+3%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(35)
|
(33)
|
(32)
|
(31)
|
(34)
|
(44)
|
(52)
|
(60)
|
(64)
|
(62)
|
(62)
|
(64)
|
(66)
|
(66)
|
(67)
|
(68)
|
(69)
|
(70)
|
(70)
|
(68)
|
(67)
|
(66)
|
(67)
|
(71)
|
(75)
|
(74)
|
(71)
|
(65)
|
(62)
|
(65)
|
(70)
|
(76)
|
(78)
|
(84)
|
(88)
|
(92)
|
(95)
|
(98)
|
(107)
|
(116)
|
(127)
|
|
Gross Profit |
299
N/A
|
292
-2%
|
292
+0%
|
294
+1%
|
298
+1%
|
295
-1%
|
295
0%
|
303
+3%
|
314
+3%
|
324
+3%
|
331
+2%
|
336
+2%
|
340
+1%
|
341
+0%
|
337
-1%
|
331
-2%
|
320
-3%
|
323
+1%
|
324
+0%
|
320
-1%
|
312
-3%
|
307
-2%
|
313
+2%
|
323
+3%
|
338
+5%
|
359
+6%
|
363
+1%
|
372
+3%
|
380
+2%
|
389
+2%
|
406
+4%
|
438
+8%
|
453
+3%
|
471
+4%
|
493
+5%
|
493
+0%
|
508
+3%
|
524
+3%
|
544
+4%
|
558
+3%
|
568
+2%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(220)
|
(215)
|
(211)
|
(208)
|
(209)
|
(229)
|
(249)
|
(267)
|
(282)
|
(278)
|
(274)
|
(272)
|
(269)
|
(259)
|
(247)
|
(238)
|
(239)
|
(239)
|
(242)
|
(241)
|
(237)
|
(237)
|
(243)
|
(256)
|
(266)
|
(271)
|
(267)
|
(259)
|
(263)
|
(274)
|
(294)
|
(314)
|
(326)
|
(343)
|
(355)
|
(371)
|
(380)
|
(386)
|
(407)
|
(422)
|
(438)
|
|
Selling, General & Administrative |
(162)
|
(155)
|
(151)
|
(147)
|
(150)
|
(159)
|
(168)
|
(178)
|
(182)
|
(179)
|
(175)
|
(172)
|
(168)
|
(162)
|
(154)
|
(147)
|
(149)
|
(146)
|
(148)
|
(147)
|
(144)
|
(144)
|
(148)
|
(152)
|
(155)
|
(157)
|
(154)
|
(151)
|
(154)
|
(160)
|
(172)
|
(182)
|
(191)
|
(199)
|
(205)
|
(213)
|
(219)
|
(221)
|
(230)
|
(235)
|
(239)
|
|
Research & Development |
(57)
|
(59)
|
(60)
|
(60)
|
(59)
|
(67)
|
(74)
|
(79)
|
(87)
|
(86)
|
(86)
|
(87)
|
(89)
|
(84)
|
(81)
|
(79)
|
(77)
|
(80)
|
(81)
|
(81)
|
(80)
|
(79)
|
(81)
|
(85)
|
(89)
|
(90)
|
(91)
|
(88)
|
(89)
|
(92)
|
(96)
|
(101)
|
(103)
|
(108)
|
(110)
|
(113)
|
(115)
|
(116)
|
(123)
|
(127)
|
(132)
|
|
Depreciation & Amortization |
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(4)
|
(7)
|
(10)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(13)
|
(14)
|
(18)
|
(22)
|
(23)
|
(23)
|
(20)
|
(20)
|
(23)
|
(27)
|
(31)
|
(32)
|
(37)
|
(41)
|
(45)
|
(47)
|
(49)
|
(54)
|
(60)
|
(66)
|
|
Operating Income |
79
N/A
|
77
-2%
|
81
+5%
|
87
+7%
|
89
+3%
|
67
-25%
|
47
-30%
|
37
-21%
|
32
-13%
|
46
+44%
|
57
+24%
|
64
+12%
|
70
+10%
|
82
+17%
|
90
+10%
|
93
+4%
|
81
-13%
|
84
+3%
|
82
-2%
|
79
-3%
|
76
-5%
|
70
-7%
|
70
-1%
|
68
-3%
|
72
+7%
|
89
+23%
|
96
+8%
|
113
+18%
|
117
+4%
|
114
-3%
|
111
-3%
|
124
+12%
|
127
+2%
|
128
+2%
|
138
+7%
|
122
-11%
|
127
+4%
|
138
+8%
|
136
-1%
|
136
0%
|
130
-4%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(1)
|
(0)
|
(0)
|
(1)
|
(2)
|
(1)
|
(2)
|
(2)
|
(2)
|
(5)
|
(6)
|
(6)
|
(6)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(6)
|
(7)
|
(8)
|
(9)
|
(10)
|
(12)
|
(13)
|
(14)
|
(13)
|
(11)
|
(10)
|
(13)
|
(16)
|
(21)
|
(21)
|
(20)
|
(17)
|
(15)
|
(17)
|
(22)
|
(26)
|
(31)
|
|
Non-Reccuring Items |
(15)
|
(15)
|
(13)
|
(9)
|
(8)
|
(11)
|
(14)
|
(15)
|
(17)
|
(13)
|
(9)
|
(11)
|
(100)
|
(117)
|
(117)
|
(114)
|
(24)
|
(8)
|
(8)
|
(7)
|
(8)
|
(6)
|
(10)
|
(11)
|
(32)
|
(33)
|
(30)
|
(30)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(10)
|
(2)
|
(0)
|
5
|
0
|
(15)
|
(17)
|
(19)
|
|
Total Other Income |
0
|
0
|
0
|
(2)
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Pre-Tax Income |
63
N/A
|
62
-2%
|
68
+10%
|
75
+11%
|
78
+4%
|
54
-31%
|
30
-45%
|
20
-32%
|
12
-38%
|
27
+121%
|
42
+54%
|
47
+12%
|
(35)
N/A
|
(40)
-14%
|
(33)
+19%
|
(26)
+20%
|
53
N/A
|
70
+34%
|
69
-2%
|
67
-3%
|
61
-9%
|
57
-7%
|
52
-9%
|
47
-9%
|
29
-39%
|
42
+48%
|
52
+24%
|
70
+34%
|
97
+37%
|
94
-3%
|
89
-6%
|
98
+10%
|
96
-3%
|
97
+1%
|
117
+20%
|
105
-10%
|
117
+12%
|
121
+3%
|
99
-18%
|
92
-7%
|
80
-14%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(23)
|
(21)
|
(22)
|
(25)
|
(28)
|
(16)
|
1
|
(5)
|
(21)
|
(32)
|
(45)
|
(39)
|
(20)
|
(19)
|
(24)
|
(27)
|
(23)
|
(28)
|
(24)
|
(19)
|
(13)
|
(13)
|
(13)
|
(9)
|
(2)
|
(4)
|
(6)
|
(13)
|
(17)
|
(17)
|
(15)
|
(17)
|
(17)
|
(17)
|
(21)
|
(18)
|
(22)
|
(23)
|
(18)
|
(14)
|
(9)
|
|
Income from Continuing Operations |
40
|
41
|
46
|
50
|
50
|
37
|
30
|
15
|
(9)
|
(5)
|
(3)
|
9
|
(56)
|
(59)
|
(56)
|
(53)
|
29
|
42
|
44
|
48
|
48
|
44
|
39
|
38
|
26
|
38
|
47
|
57
|
80
|
78
|
74
|
81
|
78
|
80
|
96
|
86
|
95
|
98
|
81
|
79
|
70
|
|
Net Income (Common) |
75
N/A
|
55
-27%
|
64
+16%
|
50
-22%
|
50
-1%
|
37
-24%
|
30
-19%
|
15
-50%
|
(9)
N/A
|
(5)
+48%
|
(3)
+33%
|
9
N/A
|
(56)
N/A
|
(59)
-7%
|
(56)
+5%
|
(53)
+6%
|
29
N/A
|
43
+49%
|
46
+6%
|
49
+7%
|
50
+1%
|
45
-9%
|
41
-10%
|
40
-2%
|
26
-34%
|
38
+45%
|
47
+23%
|
57
+22%
|
80
+39%
|
78
-3%
|
74
-4%
|
81
+9%
|
78
-4%
|
80
+2%
|
96
+19%
|
86
-10%
|
95
+10%
|
98
+3%
|
81
-17%
|
79
-3%
|
70
-11%
|