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Progress Software helps businesses, government agencies and developers build, deploy and manage applications and digital experiences, including applications powered by AI. Customers pay for software licenses, maintenance that provides updates and technical support, or cloud subscriptions that include support. Maintenance is its largest revenue source; together, maintenance and cloud subscriptions provide most of its revenue. OpenEdge and ShareFile are its main revenue contributors, with OpenEdge earning license and maintenance fees and ShareFile earning subscription revenue.
Sales partners bring in a substantial share of the business. Independent software vendors build applications using Progress technology and sell them with Progress products, generating recurring license revenue for Progress as customers adopt those applications. This makes partner sales and continued use of their applications important to the business, although no single customer or partner dominates revenue.
Revenue depends on customers continuing to use and renew its products, particularly OpenEdge and ShareFile. Privacy and cross-border data-transfer rules also limit how Progress, its customers and data partners may collect, use and share personal information.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
BOX, INC. competes with Progress's ShareFile for businesses paying to manage content securely and collaborate on files.
Dropbox competes with Progress's ShareFile for business customers paying for file sharing and team collaboration subscriptions.
Open Text Corp competes with Progress for enterprise customers buying software to manage content workflows, deliver applications and manage IT infrastructure.
Adobe competes for businesses' digital-experience spending through Experience Manager against Progress's Sitefinity; its document tools also overlap with Progress's ShareFile workflows.
Appian Corporation and Progress compete for enterprises and government agencies buying tools to build business applications and connect enterprise data. Watch Appian's subscription demand from financial services, government, life sciences, insurance and manufacturing: those customers accounted for about 80% of its subscription revenue in 2025.
Salesforce competes for businesses buying tools to build applications and connect data: its application platform and MuleSoft integration products rival Progress's application-development and data-integration offerings.
ServiceNow competes with Progress for enterprise teams buying tools to build and manage business applications, offering workflow development with less coding. Watch its Creator and Other products, where that low-code workflow development sits, rather than treating all ServiceNow sales as overlapping with Progress.
Upland Software, Inc. competes with Progress's ShareFile for businesses' content-management budgets, selling tools to manage documents and automate their workflows.
SERVICENOW, INC. earningsNOW
ServiceNow’s report will show whether enterprise teams keep buying its Creator and Other products, which compete with Progress for application-development budgets.
Focus on demand for Creator and Other, not ServiceNow’s total sales, which do not all overlap with Progress. Steady demand would show that enterprises continue paying for low-code workflow development, keeping competition for Progress’s related budgets firm; weaker demand would suggest buyers are pulling back from these tools, easing that competitive pressure.
Fed Interest Rate Decision
Progress Software’s Fed interest-rate decision matters because it signals whether borrowing costs are rising or falling, which can change the interest Progress pays on its $600 million revolving credit borrowing and leave more or less cash for its business.
Expected4.0%Last release4.0%
If it comes in above expectations
If the Fed signals higher borrowing costs, interest on Progress’s revolving credit borrowing may rise, leaving less cash for operations and other business needs.
If it comes in below expectations
If the Fed signals lower borrowing costs, interest on Progress’s revolving credit borrowing may fall, leaving more cash for operations and other business needs.
Dropbox, Inc. earningsDBX
Dropbox’s report will show whether businesses keep paying for file-sharing and collaboration subscriptions, the market where it competes with Progress’s ShareFile.
Use Dropbox’s business subscription demand to gauge whether customers are still paying for file-sharing and collaboration services. Resilient demand would show that spending in this category holds up and competition for ShareFile remains firm; weaker demand would suggest customers are cutting or reconsidering these services, putting demand in ShareFile’s market under pressure.
