Progress Software (PRGS) 10-Q 7 Apr 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Feb. 28, 2023	Mar. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Feb. 28, 2023
Document Transition Report	false
Entity File Number	0-19417
Entity Registrant Name	PROGRESS SOFTWARE CORP /MA
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-2746201
Entity Address, Address Line One	15 Wayside Road, Suite 400
Entity Address, City or Town	Burlington
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01803
City Area Code	781
Local Phone Number	280-4000
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	PRGS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		43,307,145
Entity Central Index Key	0000876167
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--11-30

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 28, 2023	Nov. 30, 2022
Current assets:
Cash and cash equivalents	$ 107,981	$ 256,277
Short-term investments	14,944	0
Total cash, cash equivalents and short-term investments	122,925	256,277
Accounts receivable (less allowances of $834 and $859, respectively)	93,347	97,834
Unbilled receivables	33,596	29,158
Other current assets	42,833	42,784
Total current assets	292,701	426,053
Long-term unbilled receivables	47,922	39,936
Property and equipment, net	14,981	14,927
Intangible assets, net	440,942	217,355
Goodwill	811,859	671,037
Right-of-use lease assets	21,768	17,574
Deferred tax assets	1,400	11,765
Other assets	12,034	12,832
Total assets	1,643,607	1,411,479
Current liabilities:
Current portion of long-term debt, net	7,953	6,234
Accounts payable	10,464	9,282
Accrued compensation and related taxes	33,291	42,467
Dividends payable to stockholders	8,141	8,115
Short-term operating lease liabilities	9,321	7,471
Other accrued liabilities	23,254	16,765
Short-term deferred revenue, net	244,733	227,670
Total current liabilities	337,157	318,004
Long-term debt, net	450,943	259,220
Convertible senior notes, net	353,159	352,625
Long-term operating lease liabilities	17,341	15,041
Long-term deferred revenue, net	57,114	54,770
Deferred tax liabilities	5,546	4,628
Other noncurrent liabilities	8,904	8,687
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value; authorized, 10,000,000 shares; issued, none	0	0
Common stock, $0.01 par value; authorized, 200,000,000 shares; issued and outstanding, 43,307,145 shares in 2023 and 43,257,008 shares in 2022	433	433
Additional paid-in capital	338,370	331,650
Retained earnings	108,286	101,656
Accumulated other comprehensive loss	(33,646)	(35,235)
Total stockholders’ equity	413,443	398,504
Total liabilities and stockholders’ equity	$ 1,643,607	$ 1,411,479

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Feb. 28, 2023	Nov. 30, 2022
Assets
Allowance for accounts receivable	$ 834	$ 859
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	43,307,145	43,257,008
Common stock, shares outstanding (in shares)	43,307,145	43,257,008

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Revenue:
Total revenue	$ 164,226	$ 144,922
Costs of revenue:
Amortization of acquired intangibles	6,264	5,458
Total costs of revenue	26,217	23,212
Gross profit	138,009	121,710
Operating expenses:
Sales and marketing	33,754	33,469
Product development	30,438	28,673
General and administrative	18,786	16,991
Amortization of acquired intangibles	13,611	11,722
Cyber incident	2,692	0
Restructuring expenses	1,397	511
Acquisition-related expenses	1,743	912
Total operating expenses	102,421	92,278
Income from operations	35,588	29,432
Other (expense) income:
Interest expense	(5,848)	(3,703)
Interest income and other, net	515	589
Foreign currency loss, net	(331)	(366)
Total other expense, net	(5,664)	(3,480)
Income before income taxes	29,924	25,952
Provision for income taxes	6,250	5,498
Net income	$ 23,674	$ 20,454
Earnings per share:
Basic (in dollars per share)	$ 0.55	$ 0.47
Diluted (in dollars per share)	$ 0.53	$ 0.46
Weighted average shares outstanding:
Basic (in shares)	43,300	43,981
Diluted (in shares)	44,353	44,708
Cash dividends declared per common share (in dollars per share)	$ 0.175	$ 0.175
Software licenses
Revenue:
Total revenue	$ 57,568	$ 42,750
Costs of revenue:
Cost of revenue	2,452	2,609
Maintenance and services
Revenue:
Total revenue	106,658	102,172
Costs of revenue:
Cost of revenue	$ 17,501	$ 15,145

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 23,674	$ 20,454
Other comprehensive income, net of tax:
Foreign currency translation adjustments	1,737	1,781
Unrealized (loss) gain on hedging activity, net of tax benefit of $45 and a tax provision of $522 for the first quarter of 2023 and 2022, respectively	(127)	1,653
Unrealized loss on investments, net of tax provision of $4 and a tax benefit of $3 for the first quarter of 2023 and 2022, respectively	(21)	(7)
Total other comprehensive income, net of tax	1,589	3,427
Comprehensive income	$ 25,263	$ 23,881

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Statement of Comprehensive Income [Abstract]
Tax (benefit) provision on accumulated unrealized gain (loss) on hedging activity	$ (45)	$ 522
Tax provision (benefit) on accumulated unrealized loss on investments	$ 4	$ (3)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Additional Paid-In Capital Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Nov. 30, 2021			44,146,000
Beginning balance at Nov. 30, 2021	$ 412,489	$ (42,563)	$ 441	$ 354,235	$ (47,456)	$ 90,256	$ 4,893	$ (32,443)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under employee stock purchase plan (in shares)			63,000
Issuance of stock under employee stock purchase plan	1,827		$ 1	1,826
Exercise of stock options (in shares)			19,000
Exercise of stock options	635			635
Vesting of restricted stock units and release of deferred stock units (in shares)			90,000
Vesting of restricted stock units and release of deferred stock units	0		$ 1	(1)
Withholding tax payments related to net issuance of RSUs	(3,139)			(3,139)
Stock-based compensation	8,114			8,114
Dividends declared	$ (7,921)					(7,921)
Treasury stock repurchases and retirements (in shares)	(600,000)		(552,000)
Treasury stock repurchases and retirements	$ (25,000)		$ (5)	(10,974)		(14,021)
Net income	20,454					20,454
Other comprehensive income	3,427							3,427
Ending balance (in shares) at Feb. 28, 2022			43,766,000
Ending balance at Feb. 28, 2022	$ 368,323		$ 438	303,240		93,661		(29,016)
Beginning balance (in shares) at Nov. 30, 2022	43,257,008		43,257,000
Beginning balance at Nov. 30, 2022	$ 398,504		$ 433	331,650		101,656		(35,235)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under employee stock purchase plan (in shares)			50,000
Issuance of stock under employee stock purchase plan	1,787		$ 1	1,786
Exercise of stock options (in shares)			141,000
Exercise of stock options	6,003		$ 1	6,002
Vesting of restricted stock units and release of deferred stock units (in shares)			215,000
Vesting of restricted stock units and release of deferred stock units	0		$ 2	(2)
Withholding tax payments related to net issuance of RSUs (in shares)			(90,000)
Withholding tax payments related to net issuance of RSUs	(4,817)		$ (1)	(4,816)
Stock-based compensation	9,752			9,752
Dividends declared	$ (8,049)					(8,049)
Treasury stock repurchases and retirements (in shares)	(300,000)		(266,000)
Treasury stock repurchases and retirements	$ (15,000)		$ (3)	(6,002)		(8,995)
Net income	23,674					23,674
Other comprehensive income	$ 1,589							1,589
Ending balance (in shares) at Feb. 28, 2023	43,307,145		43,307,000
Ending balance at Feb. 28, 2023	$ 413,443		$ 433	$ 338,370		$ 108,286		$ (33,646)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Cash flows from operating activities:
Net income	$ 23,674	$ 20,454
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	1,671	1,207
Amortization of acquired intangibles and other	19,937	17,486
Amortization of debt discount and issuance costs on Notes	534	525
Stock-based compensation	9,752	8,114
Non-cash lease expense	1,959	2,075
Loss on disposal of long-lived assets, net	0	4
Deferred income taxes	(6,324)	2,218
Allowances for bad debt and sales credits	158	145
Changes in operating assets and liabilities:
Accounts receivable	25,839	13,192
Other assets	4,483	(1,081)
Inventories	(604)	418
Accounts payable and accrued liabilities	(17,649)	(27,448)
Lease liabilities	(2,314)	(2,146)
Income taxes payable	170	3
Deferred revenue, net	(14,519)	8,927
Net cash flows from operating activities	46,767	44,093
Cash flows (used in) from investing activities:
Purchases of investments	(15,262)	0
Sales and maturities of investments	400	300
Purchases of property and equipment	(385)	(831)
Payments for acquisitions, net of cash acquired	(355,821)	0
Net cash flows used in investing activities	(371,068)	(531)
Cash flows from (used in) financing activities:
Proceeds from stock-based compensation plans	9,357	4,094
Payments for taxes related to net share settlements of equity awards	(4,817)	(3,139)
Repurchases of common stock	(15,000)	(25,000)
Dividend payments to stockholders	(8,023)	(7,784)
Proceeds from the issuance of debt	195,000	7,474
Payment of principal on long-term debt	(1,719)	(1,719)
Payment of debt issuance costs	0	(1,957)
Net cash flows from (used in) financing activities	174,798	(28,031)
Effect of exchange rate changes on cash	1,207	729
Net (decrease) increase in cash and cash equivalents	(148,296)	16,260
Cash and cash equivalents, beginning of period	256,277	155,406
Cash and cash equivalents, end of period	107,981	171,666
Supplemental disclosure:
Cash paid for income taxes, net of refunds of $264 in 2023 and $307 in 2022	3,801	2,389
Cash paid for interest	4,060	1,432
Non-cash investing and financing activities:
Total fair value of restricted stock awards, restricted stock units and deferred stock units on date vested	11,535	7,346
Dividends declared	$ 8,141	$ 8,062

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Statement of Cash Flows [Abstract]
Proceeds from income tax refunds	$ 264	$ 307

Basis of Presentation

Basis of Presentation	3 Months Ended
	Feb. 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Company Overview - Progress Software Corporation ("Progress," the "Company," "we," "us," or "our") is dedicated to propelling business forward in a technology-driven world. Progress helps customers drive faster cycles of innovation, fuel momentum and accelerate their path to success. As the trusted provider of products to develop, deploy and manage high-impact applications, Progress enables customers to develop the applications and experiences they need, deploy where and how they want and manage it all safely and securely. Our products are generally sold as perpetual licenses, but certain products also use term licensing models and our cloud-based offerings use a subscription-based model. More than half of our worldwide license revenue is realized through relationships with indirect channel partners, principally independent software vendors ("ISVs"), original equipment manufacturers ("OEMs"), distributors and value-added resellers. ISVs develop and market applications using our technology and resell our products in conjunction with sales of their own products that incorporate our technology. OEMs are companies that embed our products into their own software products or devices. Value-added resellers are companies that add features or services to our product, then resell it as an integrated product or complete "turn-key" solution. We operate in North America, Latin America, Europe, the Middle East and Africa ("EMEA"), and Asia and Australia ("Asia Pacific"), through local subsidiaries as well as independent distributors. Basis of Presentation and Significant Accounting Policies - We prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America ("GAAP") for complete financial statements and these unaudited financial statements should be read in conjunction with the audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended November 30, 2022, as filed with the SEC on January 27, 2023 (our "2022 Annual Report"). We made no material changes in the application of our significant accounting policies that were disclosed in our 2022 Annual Report. We have prepared the accompanying unaudited condensed consolidated financial statements on the same basis as the audited financial statements included in our 2022 Annual Report, and these financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results of the interim periods presented. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full fiscal year. Use of Estimates The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an on-going basis, management evaluates its estimates and records changes in estimates in the period in which they become known. These estimates are based on historical data and experience, as well as various other assumptions that management believes to be reasonable under the circumstances. The most significant estimates relate to revenue recognition and business combinations. Refer to Note 1 to our Consolidated Financial Statements in Item 8 of our 2022 Annual Report for further information. There have been no significant changes to our critical accounting policies and estimates since our 2022 Annual Report. Actual results could differ from those estimates. Recent Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted Reference Rate Reform In March 2020, the FASB issued Accounting Standards Update No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"), as amended in December 2022 by Accounting Standards Update No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 ("ASU 2022-06"). ASU 2020-04 provides guidance to alleviate the burden in accounting for reference rate reform by allowing certain expedients and exceptions in applying GAAP to contracts, hedging relationships and other transactions impacted by reference rate reform. The provisions apply only to those transactions that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued due to reference rate reform. Adoption of the provisions of ASU 2020-04 are optional and are effective from March 12, 2020 through December 31, 2024, as amended by ASU 2022-06. As of February 28, 2023, we have not adopted any expedients and exceptions under ASU 2020-04. We will continue to evaluate the impact of ASU 2020-04 on our consolidated financial statements.

Cash, Cash Equivalents and Inve

Cash, Cash Equivalents and Investments	3 Months Ended
	Feb. 28, 2023
Investments and Cash [Abstract]
Cash, Cash Equivalents and Investments	Cash, Cash Equivalents and Investments A summary of our cash, cash equivalents and available-for-sale investments at February 28, 2023 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 106,462 $ — $ — $ 106,462 Money market funds 119 — — 119 Commercial papers 4,781 — — 4,781 U.S. treasuries 2,764 — (1) 2,763 U.S. government agency bonds 8,816 — (16) 8,800 Total $ 122,942 $ — $ (17) $ 122,925 A summary of our cash and cash equivalents at November 30, 2022 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 229,023 $ — $ — $ 229,023 Money market funds 27,254 — — 27,254 Total $ 256,277 $ — $ — $ 256,277 The debt securities have a remaining contractual maturity of one year or less as of February 28, 2023.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Feb. 28, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Cash Flow Hedge On July 9, 2019, we entered into an interest rate swap contract with an initial notional amount of $150.0 million to manage the variability of cash flows associated with approximately one-half of our variable rate debt. The contract matures on April 30, 2024 and requires periodic interest rate settlements. Under this interest rate swap contract, we receive a floating rate based on the greater of 1-month LIBOR or 0.00%, and pay a fixed rate of 1.855% on the outstanding notional amount. We have designated the interes t rate swap as a cash flow hedge and assess the hedge effectiveness both at the onset of the hedge and at regular intervals throughout the life of the derivative. To the extent that the interest rate swap is highly effective in offsetting the variability of the hedged cash flows, changes in the fair value of the derivative are included as a component of other comprehensive loss on our condensed consolidated balance sheets. Although we have determined at the onset of the hedge that the interest rate swap will be a highly effective hedge throughout the term of the contract, any portion of the fair value swap subsequently determined to be ineffective will be recognized in earnings. As of February 28, 2023 , the fair value of the hedge was a gain of $4.2 million, which was included in other assets on our condensed consolidated balance sheets. The net amount of accumulated other comprehensive loss reclassified to interest expense The following table presents our interest rate swap contract where the notional amount reflects the quarterly amortization of the interest rate swap, which is equal to approximately one-half of the corresponding reduction in the balance of our term loan as we make scheduled principal payments. The fair value of the derivative represents the discounted value of the expected future discounted cash flows for the interest rate swap, based on the amortization schedule and the current forward curve for the remaining term of the contract, as of the date of each reporting period (in thousands): February 28, 2023 November 30, 2022 Notional Value Fair Value Notional Value Fair Value Interest rate swap contracts designated as cash flow hedges $ 116,250 $ 4,235 $ 120,000 $ 4,407 Forward Contracts We generally use forward contracts that are not designated as hedging instruments to hedge economically the impact of the variability in exchange rates on intercompany accounts receivable and loans receivable denominated in certain foreign currencies. We generally do not hedge the net assets of our international subsidiaries. All forward contracts are recorded at fair value on the consolidated balance sheets at the end of each reporting period and generally expire between 30 days and 2 years from the date the contract was entered. At February 28, 2023, $0.1 million and $3.0 million was recorded in other accrued liabilities and other noncurrent liabilities, respectively, on our condensed consolidated balance sheets. At November 30, 2022, $3.1 million and $0.1 million were recorded in other noncurrent liabilities and other current assets, respectively, on our condensed consolidated balance sheets. In the three months ended February 28, 2023 and February 28, 2022, realized and unrealized gains of $0.5 million and $0.3 million, respectively, from our forward contracts were recognized in foreign currency loss, net, on our condensed consolidated statements of operations. These gains were substantially offset by realized and unrealized losses in the offsetting positions. The table below details outstanding foreign currency forward contracts where the notional amount is determined using contract exchange rates (in thousands): February 28, 2023 November 30, 2022 Notional Value Fair Value Notional Value Fair Value Forward contracts to sell U.S. dollars $ 70,436 $ (3,180) $ 74,578 $ (2,995) Forward contracts to purchase U.S. dollars 489 8 544 (5) Total $ 70,925 $ (3,172) $ 75,122 $ (3,000)

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Feb. 28, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at February 28, 2023 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 119 $ 119 $ — $ — Commercial papers 4,781 398 4,383 — U.S. treasuries 2,763 498 2,265 — U.S. government agency bonds 8,800 504 8,296 — Interest rate swap 4,235 — 4,235 — Liabilities Foreign exchange derivatives $ (3,172) $ — $ (3,172) $ — The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2022 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 27,254 $ 27,254 $ — $ — Interest rate swap 4,407 — 4,407 — Liabilities Foreign exchange derivatives $ (3,000) $ — $ (3,000) $ — When developing fair value estimates, we maximize the use of observable inputs and minimize the use of unobservable inputs. When available, we use quoted market prices to measure fair value. The valuation technique used to measure fair value for our Level 1 and Level 2 assets is a market approach, using prices and other relevant information generated by market transactions involving identical or comparable assets. If market prices are not available, the fair value measurement is based on models that use primarily market-based parameters including yield curves, volatilities, credit ratings and currency rates. Assets and Liabilities Not Carried at Fair Value Fair Value of the Convertible Senior Notes The fair value of our Convertible Senior Notes, with a carrying value of $353.2 million and $352.6 million, was $394.7 million and $376.0 million as of February 28, 2023 and November 30, 2022, respectively. The fair value was determined based on the quoted price in an over-the-counter market on the last trading day of the reporting period and classified within Level 1 in the fair value hierarchy. Fair Value of Other Long-term Debt The fair value of the borrowing outstanding detail in Note 7 approximates the carrying value of the debt due to variable rates that are applicable and no significant change in our credit ratings.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Feb. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible Assets Intangible assets are comprised of the following significant classes (in thousands): February 28, 2023 November 30, 2022 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Purchased technology $ 280,300 $ (157,141) $ 123,159 $ 212,700 $ (150,877) $ 61,823 Customer-related 468,508 (173,532) 294,976 306,308 (162,341) 143,967 Trademarks and trade names 50,111 (27,304) 22,807 37,611 (26,046) 11,565 Non-compete agreement 2,000 (2,000) — 2,000 (2,000) — Total $ 800,919 $ (359,977) $ 440,942 $ 558,619 $ (341,264) $ 217,355 In the first quarter of fiscal years 2023 and 2022, amortization expense related to intangible assets was $19.9 million and $17.2 million, respectively. Future amortization expense for intangible assets as of February 28, 2023, is as follows (in thousands): Remainder of 2023 $ 77,748 2024 90,534 2025 80,024 2026 71,147 2027 46,198 Thereafter 75,291 Total $ 440,942 Goodwill Changes in the carrying amount of goodwill in the three months ended February 28, 2023 are as follows (in thousands): Balance, November 30, 2022 $ 671,037 Additions (1) 140,964 Translation adjustments (142) Balance, February 28, 2023 $ 811,859 (1) The additions to goodwill during fiscal year 2023 are related to the acquisition of MarkLogic in February 2023. See Note 6: Business Combinations for additional information.

Business Combinations

Business Combinations	3 Months Ended
	Feb. 28, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations MarkLogic Acquisition On February 7, 2023, we completed the acquisition of the parent company of MarkLogic Corporation ("MarkLogic"), pursuant to the Stock Purchase Agreement (the "Purchase Agreement"), dated as of January 3, 2023. The acquisition was completed for a base purchase price of $355.0 million (subject to certain customary adjustments) in cash. The acquisition consideration for MarkLogic has been preliminarily allocated to MarkLogic’s assets and assumed liabilities based on estimated fair values. The preliminary fair value estimates of the net assets acquired are based upon preliminary calculations and valuations, and those estimates and assumptions are subject to change as we obtain additional information for those estimates during the measurement period (up to one year from the acquisition date). The preliminary allocation of the purchase price is as follows (in thousands): Preliminary Purchase Price Allocation Life Net working capital $ 49,477 Property, plant and equipment 723 Purchased technology 67,600 7 years Trade name 12,500 7 years Customer relationships 162,200 7 years Other assets, including long-term unbilled receivables 6,172 Deferred taxes (17,441) Deferred revenue (33,116) Goodwill 140,964 Net assets acquired $ 389,079 The fair value of the intangible assets was estimated using the income approach in which the after-tax cash flows are discounted to present value. The cash flows are based on estimates used to value the acquisition, and the discount rates applied were benchmarked with reference to the implied rate of return from the transaction model as well as the weighted average cost of capital. The valuation assumptions take into consideration our estimates of customer attrition, technology obsolescence, and revenue growth projections. We determined the acquisition date deferred revenue balance based on our assessment of the individual contracts acquired. A significant portion of the deferred revenue is expected to be recognized in the 12 months following the acquisition. We recorded the excess of the purchase price over the identified tangible and intangible assets as goodwill. We believe that the investment value of the future enhancement of our product and solution offerings created as a result of this acquisition has principally contributed to a purchase price that resulted in the recognition of $141.0 million of goodwill, which is not deductible for tax purposes. Acquisition-related transaction costs (e.g., legal, due diligence, valuation, and other professional fees) and certain acquisition restructuring and related charges are not included as a component of consideration transferred but are required to be expensed as incurred. During the three months ended February 28, 2023, we incurred approximately $1.5 million of acquisition-related costs, which are included in acquisition-related expenses on our consolidated statement of operations. The amount of MarkLogic revenue and related earnings included in the consolidated statements of operations in the period subsequent to acquisition is not material. Pro Forma Information The following pro forma financial information presents the combined results of operations of Progress and MarkLogic as if the acquisition had occurred on December 1, 2021, after giving effect to certain pro forma adjustments. The pro forma adjustments reflected herein include only those adjustments that are directly attributable to the MarkLogic acquisition and factually supportable. These pro forma adjustments include: (i) a net increase in amortization expense to record amortization expense relating to the $242.3 million of acquired identifiable intangible assets, (ii) an increase in interest expense to record interest for the period presented as a result of drawing down our revolving line of credit in connection with the acquisition, and (iii) the income tax effect of the adjustments made at the statutory tax rate of the U.S. (approximately 24.5%). The pro forma financial information does not reflect any adjustments for anticipated expense savings resulting from the acquisition and is not necessarily indicative of the operating results that would have actually occurred had the transaction been consummated on December 1, 2021. (in thousands, except per share data) Pro Forma Three Months Ended February 28, 2023 Pro Forma Three Months Ended February 28, 2022 Revenue $ 203,076 $ 165,822 Net income $ 32,705 $ 10,492 Net income per basic share $ 0.76 $ 0.24 Net income per diluted share $ 0.74 $ 0.23

Debt

Debt	3 Months Ended
	Feb. 28, 2023
Debt Disclosure [Abstract]
Debt	Debt As of February 28, 2023, future maturities of the Company's long-term debt were as follows: (In thousands) 2026 Notes Revolving Line of Credit Term Loan Total Remainder of 2023 $ — $ — $ 5,156 $ 5,156 2024 — — 13,750 13,750 2025 — — 20,625 20,625 2026 360,000 — 20,625 380,625 2027 — 195,000 206,250 401,250 Total face value of long-term debt 360,000 195,000 266,406 821,406 Unamortized discount and issuance costs (6,841) — (2,510) (9,351) Less current portion of long-term debt, net — — (7,953) (7,953) Long-term debt $ 353,159 $ 195,000 $ 255,943 $ 804,102 The revolving line of credit may be borrowed, repaid, and reborrowed until January 25, 2027, at which time all amounts outstanding must be repaid. As of February 28, 2023, there was $195.0 million outstanding under the revolving line of credit.

Common Stock Repurchases

Common Stock Repurchases	3 Months Ended
	Feb. 28, 2023
Equity [Abstract]
Common Stock Repurchases	Common Stock RepurchasesIn January 2023, our Board of Directors increased the share repurchase authorization by $150.0 million, to an aggregate authorization of 228.0 million. In the three months ended February 28, 2023 and February 28, 2022, we repurchased and retired 0.3 million shares for $15.0 million and 0.6 million shares for $25.0 million, respectively. The shares were repurchased in both periods as part of our Board of Directors authorized share repurchase program. As of February 28, 2023, there was $213.0 million remaining under the current authorization.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Feb. 28, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense reflects the fair value of stock-based awards, less the present value of expected dividends when applicable, measured at the grant date and recognized over the relevant service period. We estimate the fair value of each stock-based award on the measurement date using the current market price of the stock, the Black-Scholes option valuation model, or the Monte Carlo Simulation valuation model. In 2021, 2022 and 2023, we granted performance-based restricted stock units that include two performance metrics under our Long-Term Incentive Plan ("LTIP") where the performance measurement period is three years. Vesting of the LTIP awards on the 2021, 2022 and 2023 plans are based on the following: (i) 25% is based on our level of attainment of specified TSR targets relative to the percentage appreciation of a specified index of companies for the respective three-year periods, and (ii) 75% is based on achievement of a three-year cumulative operating income target. In order to estimate the fair value of such awards, we used a Monte Carlo Simulation valuation model for the market condition portion of the award, and used the closing price of our common stock on the date of grant for the portion related to the performance condition. The Black-Scholes and Monte Carlo Simulation valuation models incorporate assumptions as to stock price volatility, the expected life of options or awards, a risk-free interest rate and dividend yield. We recognize stock-based compensation expense related to options and restricted stock units on a straight-line basis over the service period of the award, which is generally four three The following table provides the classification of stock-based compensation as reflected on our condensed consolidated statements of operations (in thousands): Three Months Ended February 28, 2023 February 28, 2022 Cost of maintenance and services $ 620 $ 411 Sales and marketing 1,495 1,402 Product development 2,998 2,222 General and administrative 4,639 4,079 Total stock-based compensation $ 9,752 $ 8,114

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Feb. 28, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated balances of other comprehensive loss during the three months ended February 28, 2023 (in thousands): Foreign Currency Translation Adjustment Unrealized Losses on Investments Unrealized Gain (Losses) on Hedging Activity Accumulated Other Comprehensive Loss Balance, December 1, 2022 $ (38,523) $ (61) $ 3,349 $ (35,235) Other comprehensive income (loss) before reclassifications, net of tax 1,737 (21) (127) 1,589 Balance, February 28, 2023 $ (36,786) $ (82) $ 3,222 $ (33,646) The tax effect on accumulated unrealized gains (losses) on hedging activity and unrealized losses on investments was a tax provision of $1.1 million as of February 28, 2023 and November 30, 2022.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Feb. 28, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Timing of Revenue Recognition Our revenues are derived from licensing our products, and from related services, which consist of maintenance, hosting services, and consulting and education. Information relating to revenue from external customers by revenue type is as follows (in thousands): Three Months Ended (In thousands) February 28, 2023 February 28, 2022 Performance obligations transferred at a point in time: Software licenses $ 57,568 $ 42,750 Performance obligations transferred over time: Maintenance 92,513 89,963 Services 14,145 12,209 Total revenue $ 164,226 $ 144,922 Geographic Revenue In the following table, revenue attributed to North America includes sales to customers in the U.S. and sales to certain multinational organizations. Revenue from EMEA, Latin America and the Asia Pacific region includes sales to customers in each region plus sales from the U.S. to distributors in these regions. Information relating to revenue from external customers from different geographical areas is as follows (in thousands): Three Months Ended (In thousands) February 28, 2023 February 28, 2022 North America $ 98,828 $ 78,093 EMEA 53,405 53,702 Latin America 4,189 3,883 Asia Pacific 7,804 9,244 Total revenue $ 164,226 $ 144,922 No single customer, partner, or country outside the U.S. has accounted for more than 10% of our total revenue for the three months ended February 28, 2023 and February 28, 2022. Contract Balances Unbilled Receivables and Contract Assets As of February 28, 2023, billing of our long-term unbilled receivables is expected to occur as follows (in thousands): 2024 $ 19,453 2025 15,607 2026 12,862 Total $ 47,922 Our contract assets and liabilities are reported in a net position on a contract-by-contract basis at the end of each reporting period. We did not have any net contract assets as of February 28, 2023 or November 30, 2022. Deferred Revenue Deferred revenue expected to be recognized as revenue more than one year subsequent to the balance sheet date is included in long-term liabilities on the consolidated balance sheets. Our deferred revenue balance is primarily made up of deferred maintenance. As of February 28, 2023, the changes in net deferred revenue were as follows (in thousands): Balance, December 1, 2022 $ 282,440 Billings and other 183,633 Revenue recognized (164,226) Balance, February 28, 2023 $ 301,847 As of February 28, 2023, transaction price allocated to remaining performance obligations was $309 million. We expect to recognize approximately 81% of the revenue within the next year and the remainder thereafter. Deferred Contract Costs Certain of our sales incentive programs meet the requirements to be capitalized. Depending upon the sales incentive program and the related revenue arrangement, such capitalized costs are amortized over the longer of (i) the product life, which is generally three three

Restructuring Charges

Restructuring Charges	3 Months Ended
	Feb. 28, 2023
Restructuring Charges [Abstract]
Restructuring Charges	Restructuring Charges The following table provides a summary of activity for our restructuring actions, which are detailed further below (in thousands): Excess Facilities and Other Costs Employee Severance and Related Benefits Total Balance, December 1, 2022 $ 3,870 $ 30 $ 3,900 Costs incurred 180 1,217 1,397 Cash disbursements (345) (144) (489) Balance, February 28, 2023 $ 3,705 $ 1,103 $ 4,808 During the first quarter of fiscal year 2023, we restructured our operations in connection with the acquisition of MarkLogic, which resulted in a reduction in redundant positions, primarily within administrative functions. Cash disbursements for expenses incurred to date under this restructuring are expected to be made through fiscal year 2023. We expect to incur additional expenses as part of this action related to employee costs and facility closures during fiscal year 2023, but we do not expect these costs to be material.

Income Taxes

Income Taxes	3 Months Ended
	Feb. 28, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our effective tax rate was 21% in the first fiscal quarter of both 2023 and 2022. There were no significant discrete tax items in the first fiscal quarter of either 2023 or 2022. Our federal income tax returns have been examined or are closed by statute for all years prior to fiscal year 2019. Our state income tax returns have been examined or are closed by statute for all years prior to fiscal year 2018. Tax authorities for certain non-U.S. jurisdictions are also examining returns. With some exceptions, we are generally not subject to tax examinations in non-U.S. jurisdictions for years prior to fiscal year 2017 because they are closed by statute.

Earnings per share

Earnings per share	3 Months Ended
	Feb. 28, 2023
Earnings Per Share [Abstract]
Earnings per share	Earnings per share We compute basic earnings per share using the weighted average number of common shares outstanding. We compute diluted earnings per share using the weighted average number of common shares outstanding plus the effect of outstanding dilutive stock options, restricted stock units and deferred stock units, using the treasury stock method. The following table sets forth the calculation of basic and diluted earnings per share on an interim basis (in thousands, except per share data): Three Months Ended February 28, 2023 February 28, 2022 Net income $ 23,674 $ 20,454 Weighted average shares outstanding 43,300 43,981 Basic earnings per common share $ 0.55 $ 0.47 Diluted earnings per common share: Net income $ 23,674 $ 20,454 Weighted average shares outstanding 43,300 43,981 Effect of dilution from common stock equivalents 1,053 727 Diluted weighted average shares outstanding 44,353 44,708 Diluted earnings per share $ 0.53 $ 0.46 We excluded stock awards representing approximately 340,000 and 1,536,000 shares of common stock from the calculation of diluted earnings per share in the three months ended February 28, 2023 and February 28, 2022, respectively, as these awards were anti-dilutive.

Segment Information

Segment Information	3 Months Ended
	Feb. 28, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information Operating segments are components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker ("CODM") in deciding how to allocate resources and assess performance. Our CODM is our Chief Executive Officer. We operate as one operating segment: software products to develop, deploy, and manage high-impact applications. Our CODM evaluates financial information on a consolidated basis. As we operate as one operating segment, the required financial segment information can be found in the condensed consolidated financial statements.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Feb. 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies - We prepared the accompanying unaudited condensed consolidated financial statements pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. Accordingly, the financial statements do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America ("GAAP") for complete financial statements and these unaudited financial statements should be read in conjunction with the audited financial statements included in our Annual Report on Form 10-K for the fiscal year ended November 30, 2022, as filed with the SEC on January 27, 2023 (our "2022 Annual Report"). We made no material changes in the application of our significant accounting policies that were disclosed in our 2022 Annual Report. We have prepared the accompanying unaudited condensed consolidated financial statements on the same basis as the audited financial statements included in our 2022 Annual Report, and these financial statements include all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the results of the interim periods presented. The operating results for the interim periods presented are not necessarily indicative of the results expected for the full fiscal year.
Use of Estimates	Use of EstimatesThe preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. On an on-going basis, management evaluates its estimates and records changes in estimates in the period in which they become known. These estimates are based on historical data and experience, as well as various other assumptions that management believes to be reasonable under the circumstances. The most significant estimates relate to revenue recognition and business combinations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted Reference Rate Reform In March 2020, the FASB issued Accounting Standards Update No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting ("ASU 2020-04"), as amended in December 2022 by Accounting Standards Update No. 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 ("ASU 2022-06"). ASU 2020-04 provides guidance to alleviate the burden in accounting for reference rate reform by allowing certain expedients and exceptions in applying GAAP to contracts, hedging relationships and other transactions impacted by reference rate reform. The provisions apply only to those transactions that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued due to reference rate reform. Adoption of the provisions of ASU 2020-04 are optional and are effective from March 12, 2020 through December 31, 2024, as amended by ASU 2022-06. As of February 28, 2023, we have not adopted any expedients and exceptions under ASU 2020-04. We will continue to evaluate the impact of ASU 2020-04 on our consolidated financial statements.

Cash, Cash Equivalents and In_2

Cash, Cash Equivalents and Investments (Tables)	3 Months Ended
	Feb. 28, 2023
Investments and Cash [Abstract]
Summary of Cash, Cash Equivalents and Available-for-sale Investments	A summary of our cash, cash equivalents and available-for-sale investments at February 28, 2023 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 106,462 $ — $ — $ 106,462 Money market funds 119 — — 119 Commercial papers 4,781 — — 4,781 U.S. treasuries 2,764 — (1) 2,763 U.S. government agency bonds 8,816 — (16) 8,800 Total $ 122,942 $ — $ (17) $ 122,925 A summary of our cash and cash equivalents at November 30, 2022 is as follows (in thousands): Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 229,023 $ — $ — $ 229,023 Money market funds 27,254 — — 27,254 Total $ 256,277 $ — $ — $ 256,277

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Feb. 28, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Foreign Currency Forward Contracts	The following table presents our interest rate swap contract where the notional amount reflects the quarterly amortization of the interest rate swap, which is equal to approximately one-half of the corresponding reduction in the balance of our term loan as we make scheduled principal payments. The fair value of the derivative represents the discounted value of the expected future discounted cash flows for the interest rate swap, based on the amortization schedule and the current forward curve for the remaining term of the contract, as of the date of each reporting period (in thousands): February 28, 2023 November 30, 2022 Notional Value Fair Value Notional Value Fair Value Interest rate swap contracts designated as cash flow hedges $ 116,250 $ 4,235 $ 120,000 $ 4,407 The table below details outstanding foreign currency forward contracts where the notional amount is determined using contract exchange rates (in thousands): February 28, 2023 November 30, 2022 Notional Value Fair Value Notional Value Fair Value Forward contracts to sell U.S. dollars $ 70,436 $ (3,180) $ 74,578 $ (2,995) Forward contracts to purchase U.S. dollars 489 8 544 (5) Total $ 70,925 $ (3,172) $ 75,122 $ (3,000)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Feb. 28, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements within the Fair Value Hierarchy of the Financial Assets	The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at February 28, 2023 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 119 $ 119 $ — $ — Commercial papers 4,781 398 4,383 — U.S. treasuries 2,763 498 2,265 — U.S. government agency bonds 8,800 504 8,296 — Interest rate swap 4,235 — 4,235 — Liabilities Foreign exchange derivatives $ (3,172) $ — $ (3,172) $ — The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2022 (in thousands): Fair Value Measurements Using Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 27,254 $ 27,254 $ — $ — Interest rate swap 4,407 — 4,407 — Liabilities Foreign exchange derivatives $ (3,000) $ — $ (3,000) $ —

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Feb. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets are comprised of the following significant classes (in thousands): February 28, 2023 November 30, 2022 Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Purchased technology $ 280,300 $ (157,141) $ 123,159 $ 212,700 $ (150,877) $ 61,823 Customer-related 468,508 (173,532) 294,976 306,308 (162,341) 143,967 Trademarks and trade names 50,111 (27,304) 22,807 37,611 (26,046) 11,565 Non-compete agreement 2,000 (2,000) — 2,000 (2,000) — Total $ 800,919 $ (359,977) $ 440,942 $ 558,619 $ (341,264) $ 217,355
Schedule of Future Amortization Expense From Intangible Assets Held	Future amortization expense for intangible assets as of February 28, 2023, is as follows (in thousands): Remainder of 2023 $ 77,748 2024 90,534 2025 80,024 2026 71,147 2027 46,198 Thereafter 75,291 Total $ 440,942
Schedule of Goodwill	Changes in the carrying amount of goodwill in the three months ended February 28, 2023 are as follows (in thousands): Balance, November 30, 2022 $ 671,037 Additions (1) 140,964 Translation adjustments (142) Balance, February 28, 2023 $ 811,859 (1) The additions to goodwill during fiscal year 2023 are related to the acquisition of MarkLogic in February 2023. See Note 6: Business Combinations for additional information.

Business Combinations (Tables)

Business Combinations (Tables)	3 Months Ended
	Feb. 28, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The preliminary allocation of the purchase price is as follows (in thousands): Preliminary Purchase Price Allocation Life Net working capital $ 49,477 Property, plant and equipment 723 Purchased technology 67,600 7 years Trade name 12,500 7 years Customer relationships 162,200 7 years Other assets, including long-term unbilled receivables 6,172 Deferred taxes (17,441) Deferred revenue (33,116) Goodwill 140,964 Net assets acquired $ 389,079
Schedule of Business Acquisition, Pro Forma Information	The pro forma financial information does not reflect any adjustments for anticipated expense savings resulting from the acquisition and is not necessarily indicative of the operating results that would have actually occurred had the transaction been consummated on December 1, 2021. (in thousands, except per share data) Pro Forma Three Months Ended February 28, 2023 Pro Forma Three Months Ended February 28, 2022 Revenue $ 203,076 $ 165,822 Net income $ 32,705 $ 10,492 Net income per basic share $ 0.76 $ 0.24 Net income per diluted share $ 0.74 $ 0.23

Debt (Tables)

Debt (Tables)	3 Months Ended
	Feb. 28, 2023
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	As of February 28, 2023, future maturities of the Company's long-term debt were as follows: (In thousands) 2026 Notes Revolving Line of Credit Term Loan Total Remainder of 2023 $ — $ — $ 5,156 $ 5,156 2024 — — 13,750 13,750 2025 — — 20,625 20,625 2026 360,000 — 20,625 380,625 2027 — 195,000 206,250 401,250 Total face value of long-term debt 360,000 195,000 266,406 821,406 Unamortized discount and issuance costs (6,841) — (2,510) (9,351) Less current portion of long-term debt, net — — (7,953) (7,953) Long-term debt $ 353,159 $ 195,000 $ 255,943 $ 804,102

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Feb. 28, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Classification of Stock-Based Compensation	The following table provides the classification of stock-based compensation as reflected on our condensed consolidated statements of operations (in thousands): Three Months Ended February 28, 2023 February 28, 2022 Cost of maintenance and services $ 620 $ 411 Sales and marketing 1,495 1,402 Product development 2,998 2,222 General and administrative 4,639 4,079 Total stock-based compensation $ 9,752 $ 8,114

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Feb. 28, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table summarizes the changes in accumulated balances of other comprehensive loss during the three months ended February 28, 2023 (in thousands): Foreign Currency Translation Adjustment Unrealized Losses on Investments Unrealized Gain (Losses) on Hedging Activity Accumulated Other Comprehensive Loss Balance, December 1, 2022 $ (38,523) $ (61) $ 3,349 $ (35,235) Other comprehensive income (loss) before reclassifications, net of tax 1,737 (21) (127) 1,589 Balance, February 28, 2023 $ (36,786) $ (82) $ 3,222 $ (33,646)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Feb. 28, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Revenue from External Customers by Revenue Type	Our revenues are derived from licensing our products, and from related services, which consist of maintenance, hosting services, and consulting and education. Information relating to revenue from external customers by revenue type is as follows (in thousands): Three Months Ended (In thousands) February 28, 2023 February 28, 2022 Performance obligations transferred at a point in time: Software licenses $ 57,568 $ 42,750 Performance obligations transferred over time: Maintenance 92,513 89,963 Services 14,145 12,209 Total revenue $ 164,226 $ 144,922
Schedule of Revenue from External Customers from Different Geographical Areas	In the following table, revenue attributed to North America includes sales to customers in the U.S. and sales to certain multinational organizations. Revenue from EMEA, Latin America and the Asia Pacific region includes sales to customers in each region plus sales from the U.S. to distributors in these regions. Information relating to revenue from external customers from different geographical areas is as follows (in thousands): Three Months Ended (In thousands) February 28, 2023 February 28, 2022 North America $ 98,828 $ 78,093 EMEA 53,405 53,702 Latin America 4,189 3,883 Asia Pacific 7,804 9,244 Total revenue $ 164,226 $ 144,922
Schedule of Contract With Customer, Asset and Liability	As of February 28, 2023, billing of our long-term unbilled receivables is expected to occur as follows (in thousands): 2024 $ 19,453 2025 15,607 2026 12,862 Total $ 47,922 As of February 28, 2023, the changes in net deferred revenue were as follows (in thousands): Balance, December 1, 2022 $ 282,440 Billings and other 183,633 Revenue recognized (164,226) Balance, February 28, 2023 $ 301,847

Restructuring Charges (Tables)

Restructuring Charges (Tables)	3 Months Ended
	Feb. 28, 2023
Restructuring Charges [Abstract]
Summary of Restructuring Activity	The following table provides a summary of activity for our restructuring actions, which are detailed further below (in thousands): Excess Facilities and Other Costs Employee Severance and Related Benefits Total Balance, December 1, 2022 $ 3,870 $ 30 $ 3,900 Costs incurred 180 1,217 1,397 Cash disbursements (345) (144) (489) Balance, February 28, 2023 $ 3,705 $ 1,103 $ 4,808

Earnings per share (Tables)

Earnings per share (Tables)	3 Months Ended
	Feb. 28, 2023
Earnings Per Share [Abstract]
Schedule of Calculation of Basic and Diluted Earnings Per Share	The following table sets forth the calculation of basic and diluted earnings per share on an interim basis (in thousands, except per share data): Three Months Ended February 28, 2023 February 28, 2022 Net income $ 23,674 $ 20,454 Weighted average shares outstanding 43,300 43,981 Basic earnings per common share $ 0.55 $ 0.47 Diluted earnings per common share: Net income $ 23,674 $ 20,454 Weighted average shares outstanding 43,300 43,981 Effect of dilution from common stock equivalents 1,053 727 Diluted weighted average shares outstanding 44,353 44,708 Diluted earnings per share $ 0.53 $ 0.46

Cash, Cash Equivalents and In_3

Cash, Cash Equivalents and Investments - Summary Of Cash, Cash Equivalents and Available-For-Sale Investments (Details) - USD ($) $ in Thousands	Feb. 28, 2023	Nov. 30, 2022
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	$ 107,981	$ 256,277
Unrealized Gains	0
Unrealized Losses	(17)
Total amortized cost basis	122,942	256,277
Total fair value	122,925	256,277
U.S. treasuries
Cash, Cash Equivalents and Investments [Line Items]
Amortized Cost Basis	2,764
Unrealized Gains	0
Unrealized Losses	(1)
Fair Value	2,763
U.S. government agency bonds
Cash, Cash Equivalents and Investments [Line Items]
Amortized Cost Basis	8,816
Unrealized Gains	0
Unrealized Losses	(16)
Fair Value	8,800
Cash
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	106,462	229,023
Money market funds
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	119	$ 27,254
Commercial papers
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	$ 4,781

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Jul. 09, 2019	Feb. 28, 2023	Feb. 28, 2022	Nov. 30, 2022
Derivative [Line Items]
Derivative assets (liabilities), at fair value		$ (3,172)		$ (3,000)
Other comprehensive loss, cash flow hedge (loss) gain reclassified to earnings		$ (700)	$ 600
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]		Interest Expense	Interest Expense
Other Assets
Derivative [Line Items]
Derivative assets (liabilities), at fair value		$ 4,200
Interest Rate Swap
Derivative [Line Items]
Notional amount	$ 150,000
Percentage of variable rate debt, managed variability	50%
Fixed interest rate	1.855%
Derivative assets (liabilities), at fair value		$ 4,235		4,407
Interest Rate Swap | London Interbank Offered Rate (LIBOR)
Derivative [Line Items]
Basis spread on variable rate	0%
Forward Contracts
Derivative [Line Items]
Minimum maturity period, foreign currency derivative		30 days
Maximum maturity period, foreign currency derivative		2 years
Derivative, gain on derivative, net		$ 500	$ 300
Forward Contracts | Other Noncurrent Liabilities
Derivative [Line Items]
Derivative liabilities		100
Derivative liability, gross asset				3,100
Forward Contracts | Current Liabilities
Derivative [Line Items]
Derivative liabilities		$ 3,000
Forward Contracts | Accrued Liabilities
Derivative [Line Items]
Derivative liability, gross asset				$ 100

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivatives (Details) - USD ($) $ in Thousands	Feb. 28, 2023	Nov. 30, 2022
Derivative [Line Items]
Notional Value	$ 70,925	$ 75,122
Fair Value	(3,172)	(3,000)
Interest rate swap contracts designated as cash flow hedges
Derivative [Line Items]
Notional Value	116,250	120,000
Fair Value	4,235	4,407
Forward contracts to sell U.S. dollars
Derivative [Line Items]
Notional Value	70,436	74,578
Fair Value	(3,180)	(2,995)
Forward contracts to purchase U.S. dollars
Derivative [Line Items]
Notional Value	489	544
Fair Value	$ 8	$ (5)

Fair Value Measurements - Hiera

Fair Value Measurements - Hierarchy of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Feb. 28, 2023	Nov. 30, 2022
Money market funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	$ 119	$ 27,254
Money market funds | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	119	27,254
Money market funds | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
Money market funds | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
Commercial papers
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	4,781
Commercial papers | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	398
Commercial papers | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	4,383
Commercial papers | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0
U.S. treasuries
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	2,763
U.S. treasuries | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	498
U.S. treasuries | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	2,265
U.S. treasuries | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0
U.S. government agency bonds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	8,800
U.S. government agency bonds | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	504
U.S. government agency bonds | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	8,296
U.S. government agency bonds | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0
Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	4,235	4,407
Interest rate swap | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
Interest rate swap | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	4,235	4,407
Interest rate swap | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets	0	0
Foreign exchange derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	(3,172)	(3,000)
Foreign exchange derivatives | Level 1
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	0	0
Foreign exchange derivatives | Level 2
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	(3,172)	(3,000)
Foreign exchange derivatives | Level 3
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Liabilities	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - 2026 Notes - USD ($) $ in Millions	Feb. 28, 2023	Nov. 30, 2022
Debt Instrument [Line Items]
Long-term debt	$ 353.2	$ 352.6
Fair value notes	$ 394.7	$ 376

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill (Schedule Of Intangible Assets) (Details) - USD ($) $ in Thousands	Feb. 28, 2023	Nov. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 800,919	$ 558,619
Accumulated Amortization	(359,977)	(341,264)
Net Book Value	440,942	217,355
Purchased technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	280,300	212,700
Accumulated Amortization	(157,141)	(150,877)
Net Book Value	123,159	61,823
Customer-related
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	468,508	306,308
Accumulated Amortization	(173,532)	(162,341)
Net Book Value	294,976	143,967
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	50,111	37,611
Accumulated Amortization	(27,304)	(26,046)
Net Book Value	22,807	11,565
Non-compete agreement
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,000	2,000
Accumulated Amortization	(2,000)	(2,000)
Net Book Value	$ 0	$ 0

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of acquired intangibles and other	$ 19.9	$ 17.2

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill (Schedule Of Future Amortization Expense) (Details) - USD ($) $ in Thousands	Feb. 28, 2023	Nov. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2023	$ 77,748
2024	90,534
2025	80,024
2026	71,147
2027	46,198
Thereafter	75,291
Net Book Value	$ 440,942	$ 217,355

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill (Schedule of Goodwill) (Details) $ in Thousands	3 Months Ended
	Feb. 28, 2023 USD ($)
Goodwill [Roll Forward]
Balance, November 30, 2022	$ 671,037
Additions	140,964
Translation adjustments	(142)
Balance, February 28, 2023	$ 811,859

Business Combinations (Schedule

Business Combinations (Schedule of Net Assets Acquired) (Details) - USD ($) $ in Thousands	1 Months Ended
	Feb. 28, 2023	Feb. 07, 2023	Nov. 30, 2022
Business Acquisition [Line Items]
Goodwill	$ 811,859		$ 671,037
MarkLogic Acquisition
Business Acquisition [Line Items]
Net working capital		$ 49,477
Property, plant and equipment		723
Intangible assets		242,300
Other assets, including long-term unbilled receivables		6,172
Deferred taxes		(17,441)
Deferred revenue		(33,116)
Goodwill		140,964
Net assets acquired		389,079
MarkLogic Acquisition | Purchased technology
Business Acquisition [Line Items]
Intangible assets		67,600
Finite-lived intangible assets, useful life	7 years
MarkLogic Acquisition | Trade name
Business Acquisition [Line Items]
Intangible assets		12,500
Finite-lived intangible assets, useful life	7 years
MarkLogic Acquisition | Customer relationships
Business Acquisition [Line Items]
Intangible assets		$ 162,200
Finite-lived intangible assets, useful life	7 years

Business Combinations (Narrativ

Business Combinations (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended
	Feb. 07, 2023	Feb. 28, 2023	Feb. 28, 2022	Nov. 30, 2022
Business Acquisition [Line Items]
Goodwill		$ 811,859		$ 671,037
Acquisition-related expenses		1,743	$ 912
MarkLogic Acquisition
Business Acquisition [Line Items]
Cash payments in business acquisition	$ 355,000
Goodwill	140,964
Acquisition-related expenses		$ 1,500
Intangible assets	$ 242,300

Business Combinations (Pro Form

Business Combinations (Pro Forma Information) (Details) - MarkLogic Acquisition - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Business Acquisition [Line Items]
Revenue	$ 203,076	$ 165,822
Net income	$ 32,705	$ 10,492
Net income per basic share (in dollars per share)	$ 0.76	$ 0.24
Net income per diluted share (in dollars per share)	$ 0.74	$ 0.23

Debt- Schedule of Future Maturi

Debt- Schedule of Future Maturities (Details) - USD ($) $ in Thousands	Feb. 28, 2023	Nov. 30, 2022
Debt Instrument [Line Items]
Remainder of 2023	$ 5,156
2024	13,750
2025	20,625
2026	380,625
2027	401,250
Total face value of long-term debt	821,406
Unamortized discount and issuance costs	(9,351)
Less current portion of long-term debt, net	(7,953)	$ (6,234)
Long-term debt	804,102
2026 Notes
Debt Instrument [Line Items]
Remainder of 2023	0
2024	0
2025	0
2026	360,000
2027	0
Total face value of long-term debt	360,000
Unamortized discount and issuance costs	(6,841)
Less current portion of long-term debt, net	0
Long-term debt	353,159
Revolving Line of Credit
Debt Instrument [Line Items]
Remainder of 2023	0
2024	0
2025	0
2026	0
2027	195,000
Total face value of long-term debt	195,000
Unamortized discount and issuance costs	0
Less current portion of long-term debt, net	0
Long-term debt	195,000
Term Loan
Debt Instrument [Line Items]
Remainder of 2023	5,156
2024	13,750
2025	20,625
2026	20,625
2027	206,250
Total face value of long-term debt	266,406
Unamortized discount and issuance costs	(2,510)
Less current portion of long-term debt, net	(7,953)
Long-term debt	$ 255,943

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Millions	Feb. 28, 2023 USD ($)
Term Loan | Amended Credit Agreement
Line of Credit Facility [Line Items]
Line of credit facility outstanding amount	$ 195

Common Stock Repurchases (Detai

Common Stock Repurchases (Details) - USD ($) shares in Millions	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022	Jan. 31, 2023
Equity [Abstract]
Stock repurchase program additional authorized amount			$ 150,000,000
Stock repurchase authorization			$ 228,000,000
Common stock repurchased and retired (in shares)	0.3	0.6
Common stock repurchased and retired	$ 15,000,000	$ 25,000,000
Remaining authorized repurchase amount	$ 213,000,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - metric	3 Months Ended	12 Months Ended
	Feb. 28, 2023	Nov. 30, 2022	Nov. 30, 2021
Long-term Incentive Plan (LTIP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of performance metrics	2	2	2
Stock-based compensation award service period (in years)	3 years	3 years	3 years
Long-term Incentive Plan (LTIP) | 2021 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares based on market condition of total shareholder return			25%
Market condition period			3 years
Percentage of shares based on cumulative performance condition			75%
Cumulative performance condition			3 years
Long-term Incentive Plan (LTIP) | 2022 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares based on market condition of total shareholder return		25%
Market condition period		3 years
Percentage of shares based on cumulative performance condition		75%
Cumulative performance condition		3 years
Long-term Incentive Plan (LTIP) | 2023 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares based on market condition of total shareholder return	25%
Market condition period	3 years
Percentage of shares based on cumulative performance condition	75%
Cumulative performance condition	3 years
Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award service period (in years)	4 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award service period (in years)	3 years

Stock-Based Compensation - Clas

Stock-Based Compensation - Classification of Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 9,752	$ 8,114
Cost of maintenance and services
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	620	411
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,495	1,402
Product development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	2,998	2,222
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 4,639	$ 4,079

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Feb. 28, 2023	Nov. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 398,504	$ 412,489
Other comprehensive income (loss) before reclassifications, net of tax	1,589
Ending balance	413,443	398,504
Other comprehensive income (loss), tax provision	1,100	1,100
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(35,235)	(32,443)
Ending balance	(33,646)	(35,235)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(38,523)
Other comprehensive income (loss) before reclassifications, net of tax	1,737
Ending balance	(36,786)	(38,523)
Unrealized Losses on Investments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(61)
Other comprehensive income (loss) before reclassifications, net of tax	(21)
Ending balance	(82)	(61)
Unrealized Gain (Losses) on Hedging Activity
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	3,349
Other comprehensive income (loss) before reclassifications, net of tax	(127)
Ending balance	$ 3,222	$ 3,349

Revenue Recognition - Timing of

Revenue Recognition - Timing of Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 164,226	$ 144,922
Software licenses
Disaggregation of Revenue [Line Items]
Total revenue	57,568	42,750
Software licenses | Performance Obligations Transferred at a Point in Time
Disaggregation of Revenue [Line Items]
Total revenue	57,568	42,750
Maintenance | Performance Obligations Transferred Over Time
Disaggregation of Revenue [Line Items]
Total revenue	92,513	89,963
Services | Performance Obligations Transferred Over Time
Disaggregation of Revenue [Line Items]
Total revenue	$ 14,145	$ 12,209

Revenue Recognition - Geographi

Revenue Recognition - Geographic Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Disaggregation of Revenue [Line Items]
Total revenue	$ 164,226	$ 144,922
North America
Disaggregation of Revenue [Line Items]
Total revenue	98,828	78,093
EMEA
Disaggregation of Revenue [Line Items]
Total revenue	53,405	53,702
Latin America
Disaggregation of Revenue [Line Items]
Total revenue	4,189	3,883
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	$ 7,804	$ 9,244

Revenue Recognition - Unbilled

Revenue Recognition - Unbilled Receivables and Contract Assets (Details) $ in Thousands	Feb. 28, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
2024	$ 19,453
2025	15,607
2026	12,862
Total	$ 47,922

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($)	Feb. 28, 2023	Nov. 30, 2022
Disaggregation of Revenue [Line Items]
Contract asset	$ 0	$ 0
Deferred contract costs	$ 8,400,000	$ 8,800,000
Minimum
Disaggregation of Revenue [Line Items]
Capitalized contract cost, amortization period	3 years
Maximum
Disaggregation of Revenue [Line Items]
Capitalized contract cost, amortization period	5 years

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue (Details) $ in Thousands	3 Months Ended
	Feb. 28, 2023 USD ($)
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 282,440
Billings and other	183,633
Revenue recognized	(164,226)
Ending balance	$ 301,847

Revenue Recognition - Performan

Revenue Recognition - Performance Obligations (Details) $ in Millions	Feb. 28, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 309
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-03-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period	1 year
Remaining performance obligation, percentage	81%

Restructuring Charges - Summary

Restructuring Charges - Summary of Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 3,900
Costs incurred	1,397	$ 511
Cash disbursements	(489)
Ending Balance	4,808
Excess Facilities and Other Costs
Restructuring Reserve [Roll Forward]
Beginning Balance	3,870
Costs incurred	180
Cash disbursements	(345)
Ending Balance	3,705
Employee Severance and Related Benefits
Restructuring Reserve [Roll Forward]
Beginning Balance	30
Costs incurred	1,217
Cash disbursements	(144)
Ending Balance	$ 1,103

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Income Tax Disclosure [Abstract]
Effective income tax rate	21%	21%

Earnings per share (Schedule of

Earnings per share (Schedule of Calculation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Earnings Per Share [Abstract]
Net income	$ 23,674	$ 20,454
Weighted average shares outstanding (in shares)	43,300	43,981
Basic earnings per common share (in dollars per share)	$ 0.55	$ 0.47
Diluted earnings per common share:
Net income	$ 23,674	$ 20,454
Effect of dilution from common stock equivalents (in shares)	1,053	727
Diluted weighted average shares outstanding (in shares)	44,353	44,708
Diluted earnings per share (in dollars shares)	$ 0.53	$ 0.46

Earnings per share (Narrative)

Earnings per share (Narrative) (Details) - shares shares in Thousands	3 Months Ended
	Feb. 28, 2023	Feb. 28, 2022
Earnings Per Share [Abstract]
Number of shares excluded from the calculation of diluted earnings per share (in shares)	340	1,536

Segment Information (Details)

Segment Information (Details)	3 Months Ended
	Feb. 28, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	1

Uncategorized Items - prgs-2023

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]