Progress Software Corporation (PRGS)

Gross profit margin

		Nov 30, 2023	Nov 30, 2022	Nov 30, 2021	Nov 30, 2020	Nov 30, 2019
Gross profit	US$ in thousands	567,862	507,517	452,864	380,036	338,057
Revenue	US$ in thousands	694,439	602,013	531,313	442,150	413,298
Gross profit margin		81.77%	84.30%	85.23%	85.95%	81.79%

November 30, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $567,862K ÷ $694,439K
= 81.77%

Progress Software Corp.'s gross profit margin has shown a slight decrease over the past three years. The margin decreased from 88.06% in 2019 to 86.12% in 2023. This indicates that the company's cost of goods sold relative to its revenue has increased, resulting in a lower percentage of revenue retained as gross profit. It is important for the company to monitor and manage its cost of goods sold to maintain a healthy gross profit margin, as this metric reflects the efficiency of the company's production and pricing strategies.