06:22 AM EDT, 07/01/2025 (MT Newswires) -- Progress Software ( PRGS ) lifted its full-year outlook as the software company reported fiscal second-quarter earnings that were above market estimates, driven by a double-digit jump in revenue.

Adjusted earnings are now set to come in between $5.28 and $5.40 per share for fiscal 2025, compared with the firm's previous projections of $5.25 to $5.37, it said late Monday. Revenue is pegged at $962 million to $974 million, up from the prior guidance of $958 million to $970 million. The current consensus on FactSet is for non-GAAP EPS of $5.32 and sales of $966.2 million.

The outlook reflects "continued strength in the demand environment" for the company's offerings and changes in foreign exchange, Chief Financial Officer Anthony Folger said during an earnings call, according to a FactSet transcript. "We believe we're very well-positioned to deliver against our improved outlook for the remainder of 2025 and beyond."

For the three-month period ended May, Progress Software's ( PRGS ) adjusted EPS advanced to $1.40 from $1.09, topping the Street's view for $1.30. Revenue jumped 36% to $237.4 million, but was just shy of the average analyst estimate of $237.5 million.

Revenue in the maintenance, software-as-a-service and professional services segment climbed 54% to $186.6 million, while software licenses declined to $50.8 million from $54 million. Annual recurring revenue surged 46% year over year to $838 million on a constant currency basis. ARR inclined 2% on pro-forma terms, as a result of "growth in multiple products across the portfolio," Folger said on the call.

"Overall, the second quarter showed strong renewals, expansions, and new customer additions across all geographies, and we saw consistent performance across our product areas with significant strength coming from OpenEdge, as well as solid performance from ShareFile," Chief Executive Yogesh Gupta told analysts. The firm acquired SaaS document collaboration business ShareFile in October 2024 for $875 million.

The company anticipates adjusted EPS to be in a range of $1.28 to $1.34 for the ongoing quarter on revenue of $237 million to $243 million. The Street is looking for non-GAAP EPS of $1.29 and revenue of $240 million.

Additionally, Progress Software ( PRGS ) purchased Nuclia, which offers agentic retrieval-augmented generation artificial intelligence solutions, for $20 million, Gupta said on the call. The deal is not expected to have a material impact on the company's financials, Gupta added.