Progress Software Corporation (NASDAQ:PRGS) Q2 2023 Earnings Call Transcript

Anthony Folger: Yeah. No, I think that’s right, Yogesh. And in past years, we have taken steps in other areas of the business where we could get a little bit leaner. Selling our corporate headquarters last year was a pretty good example where we took some assets off the balance sheet, put some capital on the balance sheet and took down our operating spend. There are smaller opportunities that we’re pursuing now and I think it’s just part of the Progress DNA where we’re constantly doing that. So I think we have the ability to maintain and over the long run slightly improve our margins. We sort of talked about that a little bit during Investor Day. I think the inflation that we’re seeing, wage inflation in particular is something that’s been a bit stubborn for maybe the past two years.

I think up to this point, we’ve done a good job offsetting it and I think we’ll continue to do that. But it just takes — it takes sort of a lot of work and we need to be scrappy as we work through the back half of the year. So I guess I would probably leave it at that. But, yeah, there are areas we can look into and I think that’s been our history.

Anja Soderstrom: Okay. Great. Thank you. That’s all for me.

Operator: Thank you. As I’m showing no further questions in the queue. At this time, I would like to turn the call back over to Mr. Yogesh Gupta for any closing remarks.

Yogesh Gupta: Well, thank you, everyone for joining us. Once again, we’re excited about where we’re going and our second half of the year as well in addition to what we have delivered in the first half. We look forward to talking to you again soon. Have a good night.

Operator: Thank you all for participating. This concludes today’s program. You may now disconnect.