Mission Statement, Vision, & Core Values of Progress Software Corporation (PRGS)

Are you curious about what drives a company that empowers millions of developers and technologists worldwide? Progress Software Corporation (PRGS), a trusted provider of AI-powered digital experiences and infrastructure software, operates with a clear mission, vision, and set of core values. But how do these guiding principles translate into real-world results?

With a strong 2024 fiscal year, Progress reported total revenue of $753.4 million, bolstered by strategic acquisitions like ShareFile and MarkLogic, and a 46% year-over-year increase in Annualized Recurring Revenue (ARR) reaching $842 million. Do you want to know how these values influence their corporate culture, product innovation, customer relationships, and commitment to social responsibility? Read on to discover the mission, vision, and core values that steer Progress Software toward continued success.

Progress Software Corporation (PRGS) An Overview of

Progress Software Corporation (Progress) is a software company that provides products for developing, deploying, and managing business applications. Founded in 1981, Progress has evolved from its initial database roots to offer a comprehensive suite of tools and platforms designed to empower businesses to build and run mission-critical applications. As of April 2025, Progress continues to serve a global customer base across various industries, providing solutions that enable digital transformation and enhance operational efficiency.

Progress offers a range of products and services, including:

• Application Development and Deployment: Tools like Progress OpenEdge and Corticon enable businesses to develop and deploy applications quickly and efficiently.
• Data Connectivity and Integration: Solutions such as DataDirect Connect and DataDirect Cloud provide seamless connectivity to various data sources, facilitating data integration and management.
• Digital Experience: Products like Sitefinity help businesses create and manage engaging digital experiences for their customers.
• DevOps and Systems Management: Offerings like Chef provide automation and configuration management capabilities, streamlining IT operations.

In the fiscal year 2024, Progress reported record-breaking revenue, driven by strong performance in its core products and strategic acquisitions. The company's annual recurring revenue (ARR) saw substantial growth, reflecting its success in transitioning to a subscription-based business model. Progress's solutions are utilized across diverse sectors, including financial services, healthcare, manufacturing, and retail, demonstrating its broad applicability and market penetration. The company's commitment to innovation and customer satisfaction has solidified its position as a trusted partner for businesses seeking to thrive in the digital age.

Progress Software Corporation has demonstrated robust financial performance in its latest reporting period. For the fiscal year 2024, the company reported record revenue of $694.6 million, marking a 12% increase year-over-year. This growth was significantly fueled by subscription and support revenue, which reached $641.5 million, a 14% increase compared to the previous year. The company's Annual Recurring Revenue (ARR) also saw impressive gains, climbing to $578.4 million, up 13% year-over-year. These figures highlight Progress's successful transition to a recurring revenue model and its ability to drive growth through its core product offerings.

Progress Software Corporation stands as a leader in providing solutions that enable businesses to develop, deploy, and manage critical applications effectively. With a history spanning several decades, Progress has consistently adapted to the evolving technology landscape, offering innovative products and services that address the complex needs of its global clientele. To understand the factors driving Progress's success and its impact on the industry, explore: Exploring Progress Software Corporation (PRGS) Investor Profile: Who’s Buying and Why?

Progress Software Corporation (PRGS) Mission Statement

Progress Software Corporation's mission is to empower businesses to achieve their goals through innovative and reliable software solutions. This mission focuses on delivering high-value products that address the evolving needs of its customers. The company strives to provide tools and platforms that enable businesses to develop, deploy, and manage applications more effectively.

The mission statement reflects a commitment to:

• Innovation: Continuously developing cutting-edge technologies.
• Reliability: Ensuring products perform consistently and securely.
• Customer Success: Helping businesses achieve their objectives.

Here's a detailed look into the core components of Progress Software's mission:

Empowering Businesses:

Progress Software aims to provide businesses with the resources they need to succeed in a competitive market. This empowerment is achieved through software solutions that enhance efficiency, productivity, and innovation. By focusing on the specific needs of various industries, Progress delivers tailored solutions that drive tangible results. For example, their application development platforms enable businesses to create custom applications that address unique challenges.

Innovative Software Solutions:

Innovation is at the heart of Progress Software's mission. The company invests heavily in research and development to create software solutions that leverage the latest technologies. This commitment to innovation ensures that customers have access to tools that provide a competitive edge. Progress has shown its innovation through the acquisition of companies like Chef, which expanded its offerings in DevOps and automation.

Reliable Software Solutions:

Progress Software recognizes that reliability is crucial for businesses that depend on their software. The company is dedicated to ensuring its products are robust, secure, and consistently high-performing. This commitment to reliability builds trust with customers and reinforces Progress Software's reputation as a dependable technology partner. For instance, Progress emphasizes security and compliance in its product development, helping customers meet regulatory requirements.

For more insights, check out: Progress Software Corporation (PRGS): History, Ownership, Mission, How It Works & Makes Money

Progress Software Corporation (PRGS) Vision Statement

To fully understand Progress Software Corporation (PRGS), it's crucial to examine its guiding principles. While a specific, formally declared vision statement is not explicitly available in recent public documents, understanding the company's mission and core values offers significant insight into its strategic direction and aspirations as of April 2025. These elements collectively paint a picture of what Progress aims to achieve and how it intends to operate.

Progress Software Corporation's investor profile provides additional insights into the company's financial strategies and investor relations: Exploring Progress Software Corporation (PRGS) Investor Profile: Who’s Buying and Why?

Progress Software's mission, as understood from its operational focus and public statements, centers on empowering businesses to build and deploy mission-critical applications faster, easier, and with greater business value. This involves:

• Providing a comprehensive suite of products that simplify application development, deployment, and management.
• Enabling digital transformation for its customers through innovative technologies.
• Focusing on high-growth areas such as cloud, data connectivity, and digital experience.

This mission is reflected in their financial performance. In fiscal year 2024, Progress Software reported total revenue of $694.5 million, a 14% increase year-over-year. This growth underscores the company's success in delivering value to its customers and executing its strategic objectives.

Progress Software's core values are not explicitly listed in a single document but can be inferred from their actions and communications. Key values include:

• Customer Success: Prioritizing the needs and outcomes of their customers.
• Innovation: Continuously seeking new and better ways to serve the market.
• Integrity: Maintaining high ethical standards in all interactions.
• Excellence: Striving for superior performance in all aspects of the business.

These values are evident in Progress Software's consistent investment in research and development. In 2024, the company allocated $83.9 million to R&D, representing 12.1% of total revenue. This commitment to innovation ensures they remain competitive and continue to meet the evolving needs of their customers.

Progress Software's strategic objectives are closely tied to its financial strategy, which emphasizes a mix of organic growth and strategic acquisitions. This approach is designed to expand their product offerings, enter new markets, and enhance shareholder value.

Key financial highlights from 2024 include:

• Cloud Revenue Growth: Cloud revenue increased by 24%, driven by strong demand for their cloud-based solutions.
• ARR Growth: Annual Recurring Revenue (ARR) reached $574.4 million, demonstrating the stickiness of their subscription-based business model.
• Operating Income: Reported operating income of $163.8 million, reflecting efficient operations and cost management.

These figures illustrate Progress Software's focus on sustainable, recurring revenue streams and profitability, aligning with its goal of long-term value creation.

In summary, while Progress Software Corporation may not have a singular, publicly stated vision statement, its mission to empower businesses through innovative technology, combined with its core values of customer success, innovation, integrity, and excellence, provides a clear understanding of its strategic direction. Supported by strong financial performance in 2024, including a 14% increase in total revenue and significant growth in cloud revenue and ARR, Progress Software is well-positioned to continue its growth trajectory and deliver value to its stakeholders.

Progress Software Corporation (PRGS) Core Values of

Progress Software Corporation's core values reflect its commitment to innovation, customer success, and ethical conduct. These values guide the company's operations, decision-making, and interactions with stakeholders. Understanding these values provides insight into the company's culture and strategic objectives. For additional insights into Progress Software Corporation, consider reading Exploring Progress Software Corporation (PRGS) Investor Profile: Who’s Buying and Why?

Innovation

Innovation is a cornerstone of Progress Software Corporation's identity. The company emphasizes the importance of continuously developing new and improved products and services to meet the evolving needs of its customers. This commitment to innovation is evident in its investments in research and development, as well as its focus on emerging technologies.

Examples of Progress Software Corporation's commitment to innovation include:

• Investing 17% of its revenue in research and development in fiscal year 2024.
• Developing new products and services that leverage emerging technologies such as artificial intelligence and cloud computing.
• Fostering a culture of experimentation and creativity among its employees.

Customer Success

Progress Software Corporation places a high priority on the success of its customers. The company understands that its own success is directly linked to the success of its customers, and it is committed to providing them with the tools and support they need to achieve their goals. This commitment is reflected in its customer-centric approach to product development, sales, and service.

Examples of Progress Software Corporation's commitment to customer success include:

• Providing customers with access to a wide range of resources, including training, documentation, and support.
• Working closely with customers to understand their specific needs and challenges.
• Developing products and services that are easy to use and integrate with existing systems.

Integrity

Integrity is a fundamental value at Progress Software Corporation. The company is committed to conducting its business ethically and transparently, and it expects its employees, partners, and suppliers to do the same. This commitment to integrity is reflected in its code of conduct, which outlines the company's expectations for ethical behavior.

Examples of Progress Software Corporation's commitment to integrity include:

• Maintaining a comprehensive code of conduct that outlines the company's expectations for ethical behavior.
• Providing employees with training on ethical decision-making.
• Investigating and addressing any reports of unethical conduct.

People

Progress Software Corporation recognizes that its employees are its most valuable asset. The company is committed to creating a workplace where employees feel valued, respected, and empowered to reach their full potential. This commitment is reflected in its efforts to attract, retain, and develop top talent.

Examples of Progress Software Corporation's commitment to its people include:

• Offering competitive salaries and benefits.
• Providing employees with opportunities for professional development and growth.
• Creating a diverse and inclusive workplace.

Social Responsibility

Progress Software Corporation is committed to being a responsible corporate citizen. The company supports a variety of initiatives that benefit the communities in which it operates. This commitment is reflected in its philanthropic activities, as well as its efforts to reduce its environmental impact.

Examples of Progress Software Corporation's commitment to social responsibility include:

• Supporting charitable organizations that focus on education, health, and human services.
• Reducing its environmental impact through energy conservation and waste reduction.
• Promoting employee volunteerism.