Progress Software Corporation (PRGS) Announced Launch of Progress Federal Solutions, Inc.

Progress Software Corporation (NASDAQ:PRGS) is one of the Oversold Software Stocks to Buy Now. On September 15, the company announced the launch of Progress Federal Solutions, Inc. This is a wholly owned subsidiary established to serve the specialized needs of U.S. federal, defense, and public sector organizations. Notably, Progress Federal Solutions tends to operate independently while leveraging the strength of Progress Software Corporation (NASDAQ:PRGS)’s technology portfolio.

In Q2 2025, Progress Software Corporation (NASDAQ:PRGS) stated that revenue contributions remained strong throughout all the geographies, resulting in ARR of $838 million or 46% YoY growth. Its Net Retention Rate came in at 100%, reflecting the consistent strength of its product portfolio. Progress Software Corporation (NASDAQ:PRGS) saw revenue of $237 million, reflecting a rise of 36% YoY on an actual currency basis and 35% on a constant currency basis. The company made progress on paying down its revolving credit facility, with another $40 million in Q2 2025.

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Disclosure: None. This article is originally published at Insider Monkey.