Progress Software (PRGS) 10-Q 8 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Aug. 31, 2024	Sep. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 31, 2024
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)		42,905,025
Entity Central Index Key	0000876167
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--11-30

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Aug. 31, 2024	Nov. 30, 2023
Current assets:
Cash and cash equivalents	$ 232,713	$ 126,958
Accounts receivable (less allowances of $791 and $851, respectively)	87,680	125,825
Unbilled receivables	35,163	29,965
Other current assets	33,001	48,040
Total current assets	388,557	330,788
Long-term unbilled receivables	34,636	28,373
Property and equipment, net	12,574	15,225
Intangible assets, net	284,706	354,278
Goodwill	832,748	832,101
Right-of-use lease assets	12,853	18,711
Deferred tax assets	41,078	15,052
Other assets	12,732	8,255
Total assets	1,619,884	1,602,783
Current liabilities:
Accounts payable	10,781	12,371
Short-term deferred revenue, net	218,036	236,090
Current portion of long-term debt, net	0	13,109
Accrued compensation and related taxes	43,919	49,559
Dividends payable to stockholders	8,423	8,376
Short-term operating lease liabilities	8,873	10,114
Other accrued liabilities	24,876	22,499
Total current liabilities	314,908	352,118
Long-term deferred revenue, net	67,348	58,946
Convertible senior notes, net	795,282	354,772
Long-term debt, net	0	356,111
Long-term operating lease liabilities	8,597	13,000
Deferred tax liabilities	3,765	3,574
Other noncurrent liabilities	4,372	4,547
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, 42,899,041 shares in 2024 and 43,795,955 shares in 2023	429	438
Additional paid-in capital	338,594	370,579
Retained earnings	119,241	120,858
Accumulated other comprehensive loss	(32,652)	(32,160)
Total stockholders’ equity	425,612	459,715
Total liabilities and stockholders’ equity	$ 1,619,884	$ 1,602,783

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Aug. 31, 2024	Nov. 30, 2023
Assets
Allowance for accounts receivable	$ 791	$ 851
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)	42,899,041	43,795,955
Common stock, shares outstanding (in shares)	42,899,041	43,795,955

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Revenue:
Total revenue	$ 178,686	$ 174,992	$ 538,448	$ 517,469
Costs of revenue:
Amortization of acquired intangibles	6,307	7,995	21,564	22,253
Total costs of revenue	29,064	32,919	93,944	92,914
Gross profit	149,622	142,073	444,504	424,555
Operating expenses:
Sales and marketing	37,141	38,612	114,141	112,513
Product development	34,720	33,138	105,143	98,396
General and administrative	20,503	20,791	63,830	61,046
Amortization of acquired intangibles	13,810	17,668	47,515	48,825
Cyber incident and vulnerability response expenses, net	927	951	4,950	5,126
Restructuring expenses	308	843	3,308	6,230
Acquisition-related expenses	1,864	699	3,114	4,433
Total operating expenses	109,273	112,702	342,001	336,569
Income from operations	40,349	29,371	102,503	87,986
Other (expense) income:
Interest expense	(6,765)	(8,532)	(21,116)	(22,894)
Interest income and other, net	1,896	788	3,448	1,895
Foreign currency loss, net	(1,201)	(675)	(2,821)	(1,502)
Total other expense, net	(6,070)	(8,419)	(20,489)	(22,501)
Income before income taxes	34,279	20,952	82,014	65,485
Provision for income taxes	5,815	1,854	14,723	10,623
Net income	$ 28,464	$ 19,098	$ 67,291	$ 54,862
Earnings per share:
Basic (in dollars per share)	$ 0.66	$ 0.44	$ 1.55	$ 1.27
Diluted (in dollars per share)	$ 0.65	$ 0.42	$ 1.52	$ 1.23
Weighted average shares outstanding:
Basic (in shares)	42,872	43,452	43,296	43,365
Diluted (in shares)	43,711	44,981	44,167	44,543
Cash dividends declared per common share (in dollars per share)	$ 0.175	$ 0.175	$ 0.525	$ 0.525
Software licenses
Revenue:
Total revenue	$ 57,850	$ 50,544	$ 175,929	$ 164,519
Costs of revenue:
Cost of revenue	2,700	2,732	7,928	7,998
Maintenance and services
Revenue:
Total revenue	120,836	124,448	362,519	352,950
Costs of revenue:
Cost of revenue	$ 20,057	$ 22,192	$ 64,452	$ 62,663

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 28,464	$ 19,098	$ 67,291	$ 54,862
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	2,084	1,667	643	5,124
Unrealized loss on hedging activity, net of tax benefit of $0 and $360 for the three and nine months ended August 31, 2024, respectively, and $170 and $465 for the three and nine months ended August 31, 2023, respectively	0	(537)	(1,135)	(1,476)
Total other comprehensive income (loss), net of tax	2,084	1,130	(492)	3,648
Comprehensive income	$ 30,548	$ 20,228	$ 66,799	$ 58,510

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Statement of Comprehensive Income [Abstract]
Tax benefit on accumulated unrealized gain on hedging activity	$ 0	$ 170	$ 360	$ 465

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Nov. 30, 2022		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)		212,000
Issuance of stock under employee stock purchase plan	7,769	$ 3	7,766
Exercise of stock options (in shares)		400,000
Exercise of stock options	12,161	$ 4	12,157
Vesting of restricted stock units and release of deferred stock units (in shares)		378,000
Vesting of restricted stock units and release of deferred stock units	0	$ 4	(4)
Withholding tax payments related to net issuance of RSUs (in shares)		(147,000)
Withholding tax payments related to net issuance of RSUs	(8,101)	$ (1)	(8,100)
Stock-based compensation	30,111		30,111
Dividends declared	$ (23,908)			(23,908)
Treasury stock repurchases and retirements (in shares)	(500,000)	(535,000)
Treasury stock repurchases and retirements	$ (30,000)	$ (5)	(12,518)	(17,477)
Net income	54,862			54,862
Other comprehensive (loss) income	3,648				3,648
Ending balance (in shares) at Aug. 31, 2023		43,565,000
Ending balance at Aug. 31, 2023	445,046	$ 438	361,062	115,133	(31,587)
Beginning balance (in shares) at May. 31, 2023		43,358,000
Beginning balance at May. 31, 2023	418,815	$ 436	347,101	103,995	(32,717)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under employee stock purchase plan (in shares)		67,000
Issuance of stock under employee stock purchase plan	2,499	$ 1	2,498
Exercise of stock options (in shares)		140,000
Exercise of stock options	1,392	$ 1	1,391
Stock-based compensation	10,072		10,072
Dividends declared	$ (7,960)			(7,960)
Treasury stock repurchases and retirements (in shares)	0
Net income	$ 19,098			19,098
Other comprehensive (loss) income	1,130				1,130
Ending balance (in shares) at Aug. 31, 2023		43,565,000
Ending balance at Aug. 31, 2023	$ 445,046	$ 438	361,062	115,133	(31,587)
Beginning balance (in shares) at Nov. 30, 2023	43,795,955	43,796,000
Beginning balance at Nov. 30, 2023	$ 459,715	$ 438	370,579	120,858	(32,160)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under employee stock purchase plan (in shares)		260,000
Issuance of stock under employee stock purchase plan	9,892	$ 3	9,889
Exercise of stock options (in shares)		179,000
Exercise of stock options	7,540	$ 2	7,538
Vesting of restricted stock units and release of deferred stock units (in shares)		498,000
Vesting of restricted stock units and release of deferred stock units	0	$ 5	(5)
Withholding tax payments related to net issuance of RSUs (in shares)		(192,000)
Withholding tax payments related to net issuance of RSUs	(10,627)	$ (3)	(10,624)
Stock-based compensation	35,011		35,011
Purchase of capped calls, net of tax	(32,080)		(32,080)
Dividends declared	$ (23,861)			(23,861)
Treasury stock repurchases and retirements (in shares)	(1,600,000)	(1,642,000)
Treasury stock repurchases and retirements	$ (86,777)	$ (16)	(41,714)	(45,047)
Net income	67,291			67,291
Other comprehensive (loss) income	$ (492)				(492)
Ending balance (in shares) at Aug. 31, 2024	42,899,041	42,899,000
Ending balance at Aug. 31, 2024	$ 425,612	$ 429	338,594	119,241	(32,652)
Beginning balance (in shares) at May. 31, 2024		43,063,000
Beginning balance at May. 31, 2024	401,667	$ 431	330,382	105,590	(34,736)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of stock under employee stock purchase plan (in shares)		78,000
Issuance of stock under employee stock purchase plan	2,972	$ 1	2,971
Exercise of stock options (in shares)		45,000
Exercise of stock options	1,994	$ 1	1,993
Withholding tax payments related to net issuance of RSUs	(35)	$ (2)	(33)
Stock-based compensation	10,558		10,558
Dividends declared	$ (7,764)			(7,764)
Treasury stock repurchases and retirements (in shares)	(300,000)	(287,000)
Treasury stock repurchases and retirements	$ (14,328)	$ (2)	(7,277)	(7,049)
Net income	28,464			28,464
Other comprehensive (loss) income	$ 2,084				2,084
Ending balance (in shares) at Aug. 31, 2024	42,899,041	42,899,000
Ending balance at Aug. 31, 2024	$ 425,612	$ 429	$ 338,594	$ 119,241	$ (32,652)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Cash flows from operating activities:
Net income	$ 67,291	$ 54,862
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property and equipment	4,806	4,690
Amortization of acquired intangibles and other	70,835	71,121
Amortization of debt discount and issuance costs on Notes	2,540	1,621
Stock-based compensation	35,011	30,111
Non-cash lease expense	8,898	6,958
Deferred income taxes	(14,840)	(18,521)
Credit losses and other sales allowances	329	472
Changes in operating assets and liabilities:
Accounts receivable	25,407	31,478
Other assets	15,090	14,294
Inventories	0	2,209
Accounts payable and accrued liabilities	(6,796)	(14,027)
Lease liabilities	(8,682)	(7,860)
Income taxes payable	1,341	2,362
Deferred revenue, net	(9,387)	(39,011)
Net cash flows from operating activities	191,843	140,759
Cash flows used in investing activities:
Purchases of investments	0	(15,262)
Sales and maturities of investments	0	15,700
Purchases of property and equipment	(2,328)	(3,181)
Payments for acquisitions, net of cash acquired	0	(355,250)
Net cash flows used in investing activities	(2,328)	(357,993)
Cash flows (used in) from financing activities:
Proceeds from stock-based compensation plans	17,474	20,373
Payments for taxes related to net share settlements of equity awards	(10,627)	(8,101)
Repurchases of common stock	(86,777)	(30,000)
Proceeds from issuance of senior convertible notes, net of issuance costs of $11,200	438,750	0
Purchase of capped calls	(42,210)	0
Dividend payments to stockholders	(23,814)	(23,669)
Proceeds from the issuance of debt	0	195,000
Repayment of revolving line of credit	(110,000)	(55,000)
Principal payment on term loan	(261,250)	(5,157)
Payment of credit facility debt issuance costs	(6,821)	0
Net cash flows (used in) from financing activities	(85,275)	93,446
Effect of exchange rate changes on cash and cash equivalents	1,515	5,510
Net increase (decrease) in cash and cash equivalents	105,755	(118,278)
Cash and cash equivalents, beginning of period	126,958	256,277
Cash and cash equivalents, end of period	232,713	137,999
Supplemental disclosure:
Cash paid for income taxes, net of refunds of $2,242 in 2024 and $924 in 2023	15,865	14,640
Cash paid for interest	7,961	17,630
Non-cash investing and financing activities:
Total fair value of restricted stock awards, restricted stock units and deferred stock units on date vested	29,036	23,077
Dividends declared and unpaid	$ 8,423	$ 8,354

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023
Statement of Cash Flows [Abstract]
Payments of debt issuance costs	$ 11,200
Proceeds from income tax refunds	$ 2,242	$ 924

Basis of Presentation

Basis of Presentation	9 Months Ended
	Aug. 31, 2024
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") provides enterprise software products for the development, deployment and management of responsible, AI-powered applications and experiences. 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, original equipment manufacturers, distributors and value-added resellers. Independent software vendors develop and market applications using our technology and resell our products in conjunction with sales of their own products that incorporate our technology. Original equipment manufacturers 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 U.S. 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, 2023, as filed with the SEC on January 26, 2024 (our "2023 Annual Report"). We made no material changes in the application of our significant accounting policies that were disclosed in our 2023 Annual Report. We have prepared the accompanying unaudited condensed consolidated financial statements on the same basis as the audited financial statements included in our 2023 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, loss contingencies and the MOVEit Vulnerability, and business combinations. Actual results could differ from those estimates. Recent Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (the "FASB") issued ASU 2023-07, Segment Reporting (Topic 280) . The amendments in this update expand segment disclosure requirements, including new segment disclosure requirements for entities with a single reportable segment among other disclosure requirements. This update is effective for the Company in the consolidated financial statements for the year ending November 30, 2025, and interim periods beginning after December 1, 2025. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company’s consolidated financial statements. In December 2023, the FASB issued Accounting Standards Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 is intended to improve the transparency and decision usefulness of income tax disclosures, primarily related to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for the Company beginning with the annual period ending November 30, 2026, allowing for adoption on a prospective basis or a retrospective option. Early adoption is permitted. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements. In March 2024, the SEC adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors. This rule will require registrants to disclose certain climate-related information in registration statements and annual reports. The disclosure requirements will apply to the Company's fiscal year beginning December 1, 2025. The Company is currently evaluating the final rule to determine its impact on the Company's disclosures.

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
	Aug. 31, 2024
Investments and Cash [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents A summary of our cash and cash equivalents at August 31, 2024 is as follows: (in thousands) Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 116,673 $ — $ — $ 116,673 Money market funds 116,040 — — 116,040 Total $ 232,713 $ — $ — $ 232,713 A summary of our cash and cash equivalents at November 30, 2023 is as follows: (in thousands) Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 126,958 $ — $ — $ 126,958 There were no debt securities by contractual maturity due after one year as of August 31, 2024.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Aug. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Cash Flow Hedge Our interest rate swap contract with an initial notional amount of $150.0 million matured on April 30, 2024. We entered into the contract to manage the variability of cash flows associated with approximately one-half of our variable rate debt. The contract required periodic interest rate settlements, and we received a floating rate based on the greater of 1-month SOFR or 0.00% and paid a fixed rate of 1.855% on the outstanding notional amount. The interest rate swap was designated as a cash flow hedge and the effectiveness of the hedge was assessed both at the onset of the hedge and at regular intervals throughout the life of the derivative. As the interest rate swap was highly effective in offsetting the variability of the hedged cash flows, changes in the fair value of the derivative were included as a component of accumulated other comprehensive loss on our condensed consolidated balance sheets through the first quarter of fiscal year 2024. On March 1, 2024, we repaid our variable rate debt in full and reclassified an unrealized gain of $0.6 million from accumulated other comprehensive loss to interest expense in our condensed consolidated statements of operations. The net amount of accumulated other comprehensive loss reclassified to interest expense during the nine months ended August 31, 2024 and August 31, 2023 was $1.5 million and $2.6 million, respectively. The following table presents our interest rate swap contract where the notional amount was equal to approximately one-half of the corresponding reduction in the balance of our term loan. The fair value of the derivative represented the discounted value of the expected future discounted cash flows for the interest rate swap, based on the payment schedule and the current forward curve for the remaining term of the contract, as of the date of each reporting period: August 31, 2024 November 30, 2023 (in thousands) Notional Value Fair Value Notional Value Fair Value Interest rate swap contracts designated as cash flow hedges $ — $ — $ 103,125 $ 1,495 Forward Contracts We 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 in other current assets, other assets, other accrued liabilities, or other noncurrent liabilities on the condensed consolidated balance sheets at the end of each reporting period and generally expire between thirty days and 3 years from the date the contract was entered. At August 31, 2024, $0.3 million, $0.1 million and $0.2 million was recorded in other current assets , other assets and other accrued liabilities, respectively, on our condensed consolidated balance sheets. At November 30, 2023, $2.5 million was recorded in other accrued liabilities on our condensed consolidated balance sheets. In the three and nine months ended August 31, 2024, net realized and unrealized gains of $1.0 million and $0.3 million, respectively, from our forward contracts were recognized in foreign currency loss, net, on our condensed consolidated statements of operations. In the three and nine months ended August 31, 2023, net realized and unrealized gains of $1.1 million and $2.7 million, respectively, from our forward contracts were recognized in foreign currency loss, net, on our condensed consolidated statements of operations. The table below details outstanding foreign currency forward contracts where the notional amount is determined using contract exchange rates: August 31, 2024 November 30, 2023 (in thousands) Notional Value Fair Value Notional Value Fair Value Forward contracts to sell U.S. dollars $ 82,340 $ 85 $ 102,229 $ (2,526) Forward contracts to purchase U.S. dollars 438 1 844 (4) Total $ 82,778 $ 86 $ 103,073 $ (2,530)

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Aug. 31, 2024
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 August 31, 2024: Fair Value Measurements Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 116,040 $ 116,040 $ — $ — Foreign exchange derivatives $ 86 $ — $ 86 $ — The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2023: Fair Value Measurements Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 Assets Interest rate swap $ 1,495 $ — $ 1,495 $ — Liabilities Foreign exchange derivatives $ (2,530) $ — $ (2,530) $ — 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 following table details the fair value and carrying value of our Convertible Senior Notes due 2026 and 2030 (together referred to as “the Notes”): August 31, 2024 November 30, 2023 (in thousands) Carrying Value Fair Value Carrying Value Fair Value Convertible senior notes due 2026 (1) $ 356,416 $ 390,268 $ 354,772 $ 377,125 Convertible senior notes due 2030 (2) 438,866 483,188 — — Total $ 795,282 $ 873,456 $ 354,772 $ 377,125 (1) The carrying value of the convertible senior notes due 2026 (the "2026 Notes"), are reflected net of $3.6 million and $5.2 million of unamortized debt issuance costs as of August 31, 2024 and November 30, 2023, respectively. (2) The carrying value of the convertible senior notes due 2030 (the "2030 Notes"), are reflected net of $11.1 million of unamortized debt issuance costs as of August 31, 2024. The fair value of the Notes is based on quoted prices in an over-the-counter market on the last trading day of the reporting period and classified within Level 2 of the fair value hierarchy. Fair Value of Other Financial Assets and Liabilities The carrying amounts of other financial assets and liabilities including cash and cash equivalents, accounts receivable, unbilled accounts receivable, accounts payable, and accrued liabilities approximate their respective fair values due to their immediate or short-term maturities.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Aug. 31, 2024
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: August 31, 2024 November 30, 2023 (in thousands) Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Purchased technology $ 280,000 $ (202,610) $ 77,390 $ 280,000 $ (181,045) $ 98,955 Customer-related 458,608 (265,308) 193,300 458,608 (221,362) 237,246 Trademarks and trade names 50,111 (36,095) 14,016 50,111 (32,034) 18,077 Total $ 788,719 $ (504,013) $ 284,706 $ 788,719 $ (434,441) $ 354,278 In the three and nine months ended August 31, 2024, amortization expense related to intangible assets was $20.1 million and $69.1 million, respectively. In the three and nine months ended August 31, 2023, amortization expense related to intangible assets was $25.7 million and $71.1 million, respectively. Future amortization expense for intangible assets as of August 31, 2024, is as follows: (in thousands) Remainder of 2024 $ 19,947 2025 78,759 2026 69,314 2027 44,740 2028 33,157 Thereafter 38,789 Total $ 284,706 Goodwill Changes in the carrying amount of goodwill in the nine months ended August 31, 2024 are as follows: (in thousands) Balance, December 1, 2023 $ 832,101 Additions (1) 700 Translation adjustments (53) Balance, August 31, 2024 $ 832,748 (1) The additions to goodwill during fiscal year 2024 represent measurement period adjustments related to the acquisition of MarkLogic Corporation ("MarkLogic") in February 2023. See Note 6: Business Combinations for additional information.

Business Combinations

Business Combinations	9 Months Ended
	Aug. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combinations	Business Combinations MarkLogic Acquisition On February 7, 2023, we completed the acquisition of the parent company of MarkLogic, pursuant to the Stock 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 allocated to MarkLogic’s tangible assets, identifiable intangible assets, and assumed liabilities based on their estimated fair values. The excess of total consideration over the tangible assets, identifiable intangible assets, and assumed liabilities was recorded as goodwill. During the first fiscal quarter of 2024, the measurement period adjustments were completed, which resulted in a $0.7 million increase in goodwill. The purchase price allocation is now complete. The allocation of the purchase price is as follows: (in thousands) Purchase Price Allocation Life Net working capital $ 46,335 Property, plant and equipment 723 Purchased technology 67,300 7 years Trade name 12,500 7 years Customer relationships 152,300 7 years Other assets, including long-term unbilled receivables 4,477 Deferred taxes (24,478) Deferred revenue (32,418) Goodwill 161,770 Net assets acquired $ 388,509 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. Tangible assets acquired and assumed liabilities were recorded at fair value. We determined the acquisition date deferred revenue balances based on our assessment of the individual contracts acquired. A significant portion of the deferred revenue was 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 $161.8 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. We determined that disclosing the amount of MarkLogic related earnings included in the condensed consolidated statements of operations is impracticable, as certain operations of MarkLogic were integrated into the operations of the Company from the date of acquisition. 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 $232.1 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 Nine Months Ended August 31, 2023 Revenue $ 556,319 Net income $ 64,094 Net income per basic share $ 1.48 Net income per diluted share $ 1.44

Debt

Debt	9 Months Ended
	Aug. 31, 2024
Line of Credit Facility [Abstract]
Debt	Debt In March of 2024, the Company refinanced its debt by issuing the 2030 Notes and used the proceeds to pay off the outstanding balance of the term loan and revolving line of credit under our previous credit agreement. We also entered into an amended and restated credit facility as described below. Notes Payable 2030 Convertible Senior Notes On March 1, 2024, the Company issued, in a private placement, convertible senior notes with an aggregate principal amount of $450 million, due March 1, 2030, unless earlier repurchased, redeemed or converted. The proceeds from the 2030 Notes were used in part to enter into the 2024 Capped Call Transactions, described below, for working capital, and for other general corporate purposes, including paying off the existing term loan and revolving line of credit. There are no required principal payments prior to the maturity of the 2030 Notes. The 2030 Notes bear interest at an annual rate of 3.5%, payable semi-annually in arrears on September 1 and March 1 of each year, beginning on September 1, 2024. The Company incurred approximately $12.0 million in issuance costs for the issuance of the 2030 Notes. Conversion Rights Before November 1, 2029, Noteholders may convert their 2030 Notes in the following circumstances: • During any fiscal quarter commencing after the fiscal quarter ending on May 31, 2024, if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price for each of at least twenty trading days (whether or not consecutive) during the thirty consecutive trading days ending on, and including, the last trading day of the immediately preceding fiscal quarter; or • During the five consecutive business days immediately after any ten consecutive trading day period (the “Measurement Period”), if the trading price per $1,000 principal amount of Notes for each trading day of the Measurement Period was less than 98% of the product of the last reported sale price per share of Company’s common stock on such trading day and the conversion rate on such trading day; or • Upon the occurrence of distributions on the Company’s common stock, which distribution per share of common stock has a value exceeding 10% of the last reported sale price per share on the trading day immediately before the date such distribution is announced; or • Upon the occurrence of certain corporate events or if the Company calls such Notes for redemption, then the Noteholder of any Note may convert such Note. From and after November 1, 2029, Noteholders may convert their 2030 Notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. The Company will satisfy its conversion obligations by paying cash up to the aggregate principal amount of 2030 Notes to be converted, by issuing shares of its common stock or a combination of cash and shares of its common stock, at its election. The initial conversion rate is 14.7622 shares of common stock per $1,000 principal amount of the 2030 Notes, representing an initial conversion price of approximately $67.74 per share of common stock. The conversion rate will be adjusted upon the occurrence of certain events, including spin-offs, tender offers, exchange offers, make-whole fundamental change and certain stockholder distributions. Repurchase Rights On or after March 5, 2027, and on or before the 60th scheduled trading day immediately before the maturity date, the Company may redeem for cash all or part of the 2030 Notes, subject to partial redemption limitation, at a repurchase price equal to the principal amount, plus accrued and unpaid interest, if the last reported sale price per share of the Company’s common stock exceeded 130% of the conversion price on (1) each of at least twenty trading days (whether or not consecutive) during any thirty consecutive trading day period ending on, and including, the trading day immediately preceding the date on which the Company provides a redemption notice and (2) the trading day immediately before the date the Company sends such notice. Pursuant to the partial redemption limitation, the Company may not elect to redeem less than all of the outstanding 2030 Notes unless at least $100.0 million aggregate principal amount of 2030 Notes are outstanding and not subject to redemption as of the time it sends the related redemption notice. If certain corporate events that constitute a fundamental change (e.g., events such as business combination transactions involving the Company, shareholder approval of liquidation or dissolution of the Company, and certain de-listing events with respect to the Company’s common stock) occur at any time, holders may, subject to certain exceptions, require the Company to purchase their 2030 Notes in whole or in part for cash at a price equal to the principal amount of the 2030 Notes to be repurchased, plus accrued and unpaid interest, to, but excluding, the fundamental change repurchase date. 2024 Capped Call Transactions On February 27, 2024, in connection with the pricing of the 2030 Notes, the Company entered into privately negotiated capped call transactions (“2024 Capped Call Transactions”). The 2024 Capped Call Transactions cover approximately 6.6 million shares of the Company’s common stock, which represent the number of shares of common stock initially underlying the 2030 Notes. The 2024 Capped Call Transactions are generally expected to reduce potential dilution to our common stock upon any conversion of the 2030 Notes and/or offset any potential cash payments the Company is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap. The cap price of the 2024 Capped Call Transactions will initially be $92.98 per share of common stock, which represents a premium of 75% over the last reported sale price of the common stock of $53.13 per share on February 27, 2024, and is subject to certain adjustments under the terms of the 2024 Capped Call Transactions. The cost of the purchased capped calls of $42.2 million was recorded as a reduction to additional paid-in-capital upon settlement in March 2024. Accounting for the 2030 Notes The 2030 Notes are classified as a non-current liability on our condensed consolidated balance sheets and the conversion option does not require bifurcation as an embedded derivative. Issuance costs of $12.0 million were recorded as a reduction to the principal balance of the 2030 Notes and will be amortized as interest expense using the effective interest method over the contractual term. Three Months Ended Nine Months Ended (in thousands) August 31, 2024 August 31, 2024 Contractual interest expense (3.5% coupon) $ 3,938 $ 7,875 Amortization of debt discount and issuance costs (1) 450 896 $ 4,388 $ 8,771 (1) Amortization based upon an effective interest rate of 4.0%. Credit Facility On March 7, 2024, the Company entered into an amended and restated credit agreement (the "Credit Agreement") with certain lenders, which provides a $900.0 million secured revolving credit facility ("revolving credit facility"). The revolving credit facility may be made available in U.S. Dollars and certain other currencies and may be increased, and new term loan commitments may be entered into, by up to an additional $260.0 million if the existing or additional lenders are willing to make such increased commitments. The revolving credit facility has sublimits for swing line loans up to $25.0 million and for the issuance of standby letters of credit in a face amount up to $25.0 million. We expect to use the revolving credit facility to fund our proposed acquisition of ShareFile and for general corporate purposes. Interest rates for the revolving credit facility are determined by reference to a Term Benchmark Rate or a base rate at our option and would range from 1.50% to 3.00% above the Term Benchmark Rate for Term Benchmark-based borrowings or from 0.50% to 2.00% above the defined base rate for base rate borrowings, in each case based upon our consolidated total net leverage ratio. Additionally, we may borrow certain foreign currencies at rates set in the same range above the respective Term Benchmark Rates for those currencies, based on our consolidated total net leverage ratio. A quarterly commitment fee on the undrawn portion of the revolving credit facility is required, ranging from 0.150% to 0.400% per annum, based upon our consolidated total net leverage ratio. The credit facility matures on March 7, 2029. The revolving credit facility does not require amortization of principal. Revolving loans may be borrowed, repaid and reborrowed until the maturity date, at which time all amounts outstanding must be repaid. Accrued interest on the loans is payable quarterly in arrears. As of August 31, 2024, the revolving credit facility was undrawn. Costs incurred to obtain our long-term debt of $6.0 million, along with $1.0 million of unamortized debt issuance costs related to the previous credit agreement, were recorded as debt issuance costs and will be amortized over the term of the debt agreement using the effective interest method. Unamortized debt issuance costs related to the repaid term loan were expensed. We are the sole borrower under the credit facility and our obligations under the Credit Agreement are guaranteed by each of our material domestic subsidiaries and are secured by substantially all of our assets and each of our material domestic subsidiaries. The Credit Agreement contains customary affirmative and negative covenants, including covenants that limit or restrict our ability to, among other things, grant liens, make investments, make acquisitions, incur indebtedness, merge or consolidate, dispose of assets, pay dividends or make distributions, repurchase stock, change the nature of the business, enter into certain transactions with affiliates and enter into burdensome agreements, in each case subject to customary exceptions for a credit facility of this size and type. We are also required to maintain compliance with a consolidated interest charge coverage ratio, a consolidated senior secured net leverage ratio and a consolidated total net leverage ratio.

Common Stock Repurchases

Common Stock Repurchases	9 Months Ended
	Aug. 31, 2024
Equity [Abstract]
Common Stock Repurchases	Common Stock Repurchases In 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 August 31, 2024, we repurchased and retired 0.3 million shares for $14.3 million. In the three months ended August 31, 2023, we did not repurchase any shares of our common stock. In the nine months ended August 31, 2024 and August 31, 2023, we repurchased and retired 1.6 million shares for $86.8 million and 0.5 million shares for $30.0 million, respectively. As of August 31, 2024, there was $107.2 million remaining under the current authorization.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Aug. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation expense reflects the fair value of stock-based awards 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 either the current market price of the stock, the Black-Scholes option valuation model, or the Monte Carlo Simulation valuation model. 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 In 2022, 2023, and 2024, 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 in the 2022, 2023, and 2024 plans are based on the following: (i) 75% is based on achievement of a three-year cumulative operating income, and (ii) 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. The vesting of LTIP awards is also subject to continued employment of the grantees through the performance period, except in the event of a qualifying termination. In order to estimate the fair value of such awards, we use a Monte Carlo Simulation valuation model for the market condition portion of the award, which uses the closing price of our common stock on the date of grant, less the present value of expected dividends when applicable, for the portion related to the performance condition. The following table provides the classification of stock-based compensation as reflected on our condensed consolidated statements of operations: Three Months Ended Nine Months Ended (in thousands) August 31, 2024 August 31, 2023 August 31, 2024 August 31, 2023 Cost of maintenance and services $ 834 $ 797 $ 2,732 $ 2,146 Sales and marketing 2,169 1,763 6,939 5,027 Product development 3,199 3,065 10,255 9,112 General and administrative 4,356 4,447 15,085 13,826 Total stock-based compensation $ 10,558 $ 10,072 $ 35,011 $ 30,111

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Aug. 31, 2024
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 nine months ended August 31, 2024: (in thousands) Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Hedging Activity Accumulated Other Comprehensive Loss Balance, December 1, 2023 $ (33,295) $ 1,135 $ (32,160) Other comprehensive gain (loss) before reclassifications, net of tax 643 (689) (46) Amount of gain reclassified from accumulated other comprehensive loss into net income, net of tax — (446) (446) Balance, August 31, 2024 $ (32,652) $ — $ (32,652) The tax effect on accumulated unrealized gains (losses) on our hedging activity was minimal as of August 31, 2024 and was a tax provision of $0.4 million as of November 30, 2023.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Aug. 31, 2024
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: Three Months Ended Nine Months Ended (in thousands) August 31, 2024 August 31, 2023 August 31, 2024 August 31, 2023 Performance obligations transferred at a point in time: Software licenses $ 57,850 $ 50,544 $ 175,929 $ 164,519 Performance obligations transferred over time: Maintenance 103,088 105,164 307,616 299,917 Services 17,748 19,284 54,903 53,033 Total revenue $ 178,686 $ 174,992 $ 538,448 $ 517,469 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: Three Months Ended Nine Months Ended (in thousands) August 31, 2024 August 31, 2023 August 31, 2024 August 31, 2023 North America $ 104,369 $ 101,923 $ 314,553 $ 306,483 EMEA 57,031 56,779 177,656 166,369 Latin America 5,363 6,318 14,630 15,297 Asia Pacific 11,923 9,972 31,609 29,320 Total revenue $ 178,686 $ 174,992 $ 538,448 $ 517,469 No single customer, partner, or country outside the U.S. accounted for more than 10% of our total revenue for the three and nine months ended August 31, 2024 or August 31, 2023. Contract Balances Unbilled Receivables and Contract Assets As of August 31, 2024, billing of our long-term unbilled receivables is expected to occur as follows: (in thousands) 2025 $ 10,564 2026 20,507 2027 3,565 Total $ 34,636 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 August 31, 2024 or November 30, 2023. 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 condensed consolidated balance sheets. Our deferred revenue balance is primarily made up of deferred maintenance. The changes in net deferred revenue for the nine months ended August 31, 2024 were as follows: (in thousands) Balance, December 1, 2023 $ 295,036 Billings and other 528,796 Revenue recognized that was deferred in prior periods (235,649) Revenue recognized from current period arrangements (302,799) Balance, August 31, 2024 $ 285,384 As of August 31, 2024, transaction price allocated to remaining performance obligations was $346 million. We expect to recognize approximately 73% 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	9 Months Ended
	Aug. 31, 2024
Restructuring Charges [Abstract]
Restructuring Charges	Restructuring Charges The following table provides a summary of activity for our restructuring actions: (in thousands) Excess Facilities and Other Costs Employee Severance and Related Benefits Total Balance, December 1, 2023 $ 3,297 $ 1,890 $ 5,187 Costs incurred 2,904 404 3,308 Cash disbursements (2,056) (2,231) (4,287) Balance, August 31, 2024 $ 4,145 $ 63 $ 4,208 Costs incurred during the three and nine months ended August 31, 2024 are primarily related to a facility closure in connection with the restructuring action from the first fiscal quarter of 2023. We do not expect to incur additional material expenses as part of this action.

Earnings per share

Earnings per share	9 Months Ended
	Aug. 31, 2024
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: Three Months Ended Nine Months Ended (in thousands, except per share data) August 31, 2024 August 31, 2023 August 31, 2024 August 31, 2023 Net income $ 28,464 $ 19,098 $ 67,291 $ 54,862 Weighted average shares outstanding 42,872 43,452 43,296 43,365 Basic earnings per common share $ 0.66 $ 0.44 $ 1.55 $ 1.27 Diluted earnings per common share: Net income $ 28,464 $ 19,098 $ 67,291 $ 54,862 Weighted average shares outstanding 42,872 43,452 43,296 43,365 Effect of dilution from common stock equivalents 839 1,353 871 1,178 Effect of dilution from if-converted 2026 Notes — 176 — — Diluted weighted average shares outstanding 43,711 44,981 44,167 44,543 Diluted earnings per share $ 0.65 $ 0.42 $ 1.52 $ 1.23 We excluded stock awards representing approximately 560,000 and 849,000 shares of common stock from the calculation of diluted earnings per share in the three and nine months ended August 31, 2024, respectively, as these awards were anti-dilutive. We excluded stock awards representing approximately 252,000 and 286,000 shares of common stock from the calculation of diluted earnings per share in the three and nine months ended August 31, 2023, respectively, as these awards were anti-dilutive. The dilutive impact of the Notes on our calculation of diluted earnings per share is considered using the if-converted method. However, because the principal amount of the Notes must be settled in cash, the dilutive impact of applying the if-converted method is limited to the in-the-money portion, if any, of the Notes. During the three and nine months ended August 31, 2024, we did not include the Notes in our diluted earnings per share calculation because the conversion feature in the Notes was out of the money. For the three months ended August 31, 2023, the average daily closing price of the Company's common stock was greater than the conversion price for the 2026 Notes outstanding as of August 31, 2023. Therefore, for this period, the Company applied the if-converted method for calculating diluted earnings per common share. During the nine months ended August 31, 2023, the average daily closing price of the Company's common stock was less than the conversion price for the 2026 Notes. Therefore, for this period, the 2026 Notes had no impact on the computation of diluted earnings per common share.

Segment Information

Segment Information	9 Months Ended
	Aug. 31, 2024
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.

Cyber Related Matters

Cyber Related Matters	9 Months Ended
	Aug. 31, 2024
Health Care Organizations [Abstract]
Cyber Related Matters	Cyber Related Matters November 2022 Cyber Incident Following the detection of irregular activity on certain portions of our corporate network, we engaged outside cybersecurity experts and other incident response professionals to conduct a forensic investigation and assess the extent and scope of the incident. We did not incur costs related to this incident during fiscal year 2024 and do not expect to incur additional costs as the investigation is closed. We did not incur any meaningful costs related to this cyber incident for the three months ended August 31, 2023. We incurred net expenses of $4.2 million related to this incident during the nine months ended August 31, 2023. MOVEit Vulnerability As previously reported, on the evening of May 28, 2023, we learned that our MOVEit Transfer (the on-premise version) and MOVEit Cloud (a cloud-hosted version of MOVEit Transfer) products were attacked via a “zero-day vulnerability” that could provide for unauthorized escalated privileges and access to the customer’s underlying environment (the “MOVEit Vulnerability”). A "zero-day vulnerability" is a vulnerability that has been publicly disclosed and/or exploited (e.g., by an independent researcher or threat actor) before the software vendor has an opportunity to patch it. We continue to monitor the impact of the MOVEit Vulnerability on our business, operations, and financial results. MOVEit Transfer and MOVEit Cloud represented less than 4% in aggregate of our revenue for the nine months ended August 31, 2024. Litigation and Governmental Investigations Arising from the MOVEit Vulnerability As previously reported, as a result of the MOVEit Vulnerability, we are party to certain class action lawsuits filed by individuals who claim to have been impacted by the exfiltration of data from the environments of our MOVEit Transfer customers, which the Judicial Panel on Multidistrict Litigation transferred to the District of Massachusetts for coordinated and consolidated proceedings (the "MDL"). The MDL also includes the previously disclosed subrogation claim (where an insurer is seeking recovery for expenses incurred on behalf of its insured in connection with the MOVEit Vulnerability). Also as previously disclosed, we have also been cooperating with inquires and investigations from: (i) several domestic and foreign data privacy regulators (a number of which have been closed without regulatory action), (ii) several state attorneys general, and (iii) one formal investigation from a U.S. federal law enforcement agency (as of the date of the filing of the financial statements, this is not an enforcement action or formal governmental investigation of which we have been told that we are a target). As previously disclosed, we received a subpoena from the Securities and Exchange Commission’s Division of Enforcement (the “SEC”) on October 2, 2023, as part of a fact-finding inquiry seeking various documents and information relating to the MOVEit Vulnerability. In a letter dated August 7, 2024, the SEC notified us that the Commission had concluded its investigation and did not intend to recommend an enforcement action against Progress (the “Termination Letter”). The Termination Letter was provided under the guidelines set out in the final paragraph of Securities Act Release No. 5310. Expenses Incurred and Future Costs For the three and nine months ended August 31, 2024, we incurred net costs of $0.9 million and $5.0 million , respectively, related to the MOVEit Vulnerability. The costs recognized are net of insurance recoveries of $0.6 million and $2.5 million for the three and nine months ended August 31, 2024, respectively. The timing of recognizing insurance recoveries may differ from the timing of recognizing the associated expenses. We expect to continue to incur investigation, legal and professional services expenses associated with the MOVEit Vulnerability in future periods. We will recognize these expenses as services are received, net of insurance recoveries. While a loss from these matters is reasonably possible, we cannot reasonably estimate a range of possible losses at this time, particularly while the foregoing matters remain ongoing. Furthermore, with respect to the litigation, the proceedings remain in the early stages, alleged damages have not been specified, there is uncertainty as to the likelihood of a class or classes being certified or the ultimate size of any class if certified, and there are significant factual and legal issues to be resolved. Also, each of the governmental inquiries and investigations mentioned above could result in adverse judgements, settlements, fines, penalties, or other resolutions, the amount, scope and timing of which could be material, but which we are currently unable to predict. Therefore, we have not recorded a loss contingency liability for the MOVEit Vulnerability as of August 31, 2024. In addition, we may accelerate or make additional investments in our information technology systems, infrastructure, software products or networks following the MOVEit Vulnerability, however, we currently do not expect such amounts to be material to any fiscal period. Insurance Coverage During the period when the November 2022 cyber incident and the MOVEit Vulnerability occurred, we maintained $15.0 million of cybersecurity insurance coverage, which is expected to reduce our exposure to expenses and liabilities arising from these events. As of August 31, 2024, we have recorded approximately $7.5 million in insurance recoveries, of which $2.5 million was related to the November 2022 cyber incident and $5.0 million was related to the May 2023 MOVEit Vulnerability, providing us with approximately $7.5 million of additional cybersecurity insurance coverage under the applicable policy (which is subject to a $0.5 million retention per claim). We will pursue recoveries to the maximum extent available under our insurance policies.

Subsequent Events

Subsequent Events	9 Months Ended
	Aug. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On September 9, 2024, we entered into a definitive agreement to acquire ShareFile from Cloud Software Group, Inc. for approximately $875 million in cash, subject to a $25 million working capital credit. The closing of the acquisition (the “Closing”) is expected to occur in the quarter ending November 30, 2024. The acquisition is expected to be funded with a combination of existing cash on hand and borrowings under our existing revolving credit facility. The acquisition will add product and service solutions to our capabilities with ShareFile’s SaaS-native, AI-powered document-centric collaboration and workflows, client portal, secure file sync and share and eSignature abilities. Our Board of Directors has approved the suspension of Progress’ quarterly dividend in connection with the Closing and plans to redirect such capital toward the repayment of debt to increase liquidity for future M&A and for share repurchases.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Pay vs Performance Disclosure
Net income	$ 28,464	$ 19,098	$ 67,291	$ 54,862

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Aug. 31, 2024 shares	Aug. 31, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		During the third quarter of fiscal year 2024, none of our directors or officers informed us of the adoption or termination of a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as those terms are defined in Regulation S-K, Item 408, except as described in the table below: Name and Title Character of Trading Arrangement 1 Date Adopted Duration 2 Aggregate Number of Shares of Common Stock to be Sold Pursuant to Trading Arrangement Anthony Folger EVP & Chief Financial Officer Rule 10b5-1 July 17, 2024 July 31, 2025 Up to 26,009 3 Domenic LoCoco SVP, Chief Accounting Officer Rule 10b5-1 July 29, 2024 November 30, 2025 8,185 4 Ian Pitt EVP & Chief Information Officer Rule 10b5-1 July 24, 2024 October 31, 2025 Up to 12,623 5 Sundar Subramanian EVP & GM, Infrastructure Management Rule 10b5-1 July 24, 2024 November 30, 2025 2,816 1. Except as indicated by footnote, each trading arrangement marked as a “Rule 10b5-1 Trading Arrangement” is intended to satisfy the affirmative defense of Rule 10b5-1(c), as amended (the “Rule”). 2. Except as indicated by footnote, each trading arrangement permits transactions through and including the earlier to occur of (a) the completion of all sales or (b) the date listed in the table. Each trading arrangement marked as a “Rule 10b5-1 Trading Arrangement” only permits transactions upon expiration of the applicable mandatory cooling-off period under the Rule. 3. Includes: (i) 3,768 shares of our common stock; (ii) all common stock, net of shares withheld to cover tax withholding obligations, to be issued upon the anticipated vesting of 7,241 Restricted Stock Units (“RSUs”); (iii) up to 5,000 shares of common stock, net of shares withheld to cover tax withholding obligations, to be issued upon the anticipated vesting of a maximum of 44,954 Performance Stock Units (“PSUs”); and (iv) 10,000 employee stock options expected to be exercised via same-day sale. 4. Includes: (i) 1,000 shares of our common stock; and (ii) 7,185 employee stock options expected to be exercised via same-day sale. 5. Includes: (i) all common stock, net of shares withheld to cover tax withholding obligations, to be issued upon the anticipated vesting of 5,879 RSUs; and (ii) 50% of the common stock, net of shares withheld to cover tax withholding obligations, to be issued upon the anticipated vesting of a maximum of 13,488 PSUs.
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Anthony Folger [Member]
Trading Arrangements, by Individual
Name	Anthony Folger
Title	EVP & Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	July 17, 2024
Expiration Date	July 31, 2025
Arrangement Duration	379 days
Aggregate Available	26,009	26,009
Domenic LoCoco [Member]
Trading Arrangements, by Individual
Name	Domenic LoCoco
Title	SVP, Chief Accounting Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	July 29, 2024
Expiration Date	November 30, 2025
Arrangement Duration	489 days
Aggregate Available	8,185	8,185
Ian Pitt [Member]
Trading Arrangements, by Individual
Name	Ian Pitt
Title	EVP & Chief Information Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	July 24, 2024
Expiration Date	October 31, 2025
Arrangement Duration	464 days
Aggregate Available	12,623	12,623
Sundar Subramanian [Member]
Trading Arrangements, by Individual
Name	Sundar Subramanian
Title	EVP & GM, Infrastructure Management
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	July 24, 2024
Expiration Date	November 30, 2025
Arrangement Duration	494 days
Aggregate Available	2,816	2,816

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Aug. 31, 2024
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 U.S. 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, 2023, as filed with the SEC on January 26, 2024 (our "2023 Annual Report"). We made no material changes in the application of our significant accounting policies that were disclosed in our 2023 Annual Report. We have prepared the accompanying unaudited condensed consolidated financial statements on the same basis as the audited financial statements included in our 2023 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 Estimates
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standards Board (the "FASB") issued ASU 2023-07, Segment Reporting (Topic 280) . The amendments in this update expand segment disclosure requirements, including new segment disclosure requirements for entities with a single reportable segment among other disclosure requirements. This update is effective for the Company in the consolidated financial statements for the year ending November 30, 2025, and interim periods beginning after December 1, 2025. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company’s consolidated financial statements. In December 2023, the FASB issued Accounting Standards Update No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"). ASU 2023-09 is intended to improve the transparency and decision usefulness of income tax disclosures, primarily related to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for the Company beginning with the annual period ending November 30, 2026, allowing for adoption on a prospective basis or a retrospective option. Early adoption is permitted. The adoption of this standard only impacts disclosures and is not expected to have a material impact on the Company's consolidated financial statements. In March 2024, the SEC adopted the final rule under SEC Release No. 33-11275, The Enhancement and Standardization of Climate-Related Disclosures for Investors. This rule will require registrants to disclose certain climate-related information in registration statements and annual reports. The disclosure requirements will apply to the Company's fiscal year beginning December 1, 2025. The Company is currently evaluating the final rule to determine its impact on the Company's disclosures.

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	9 Months Ended
	Aug. 31, 2024
Investments and Cash [Abstract]
Schedule of Cash and Cash Equivalents	A summary of our cash and cash equivalents at August 31, 2024 is as follows: (in thousands) Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 116,673 $ — $ — $ 116,673 Money market funds 116,040 — — 116,040 Total $ 232,713 $ — $ — $ 232,713 A summary of our cash and cash equivalents at November 30, 2023 is as follows: (in thousands) Amortized Cost Basis Unrealized Gains Unrealized Losses Fair Value Cash $ 126,958 $ — $ — $ 126,958

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Aug. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Foreign Currency Forward Contracts	August 31, 2024 November 30, 2023 (in thousands) Notional Value Fair Value Notional Value Fair Value Interest rate swap contracts designated as cash flow hedges $ — $ — $ 103,125 $ 1,495 The table below details outstanding foreign currency forward contracts where the notional amount is determined using contract exchange rates: August 31, 2024 November 30, 2023 (in thousands) Notional Value Fair Value Notional Value Fair Value Forward contracts to sell U.S. dollars $ 82,340 $ 85 $ 102,229 $ (2,526) Forward contracts to purchase U.S. dollars 438 1 844 (4) Total $ 82,778 $ 86 $ 103,073 $ (2,530)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Aug. 31, 2024
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 August 31, 2024: Fair Value Measurements Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 Assets Money market funds $ 116,040 $ 116,040 $ — $ — Foreign exchange derivatives $ 86 $ — $ 86 $ — The following table details the fair value measurements within the fair value hierarchy of our financial assets and liabilities at November 30, 2023: Fair Value Measurements Using (in thousands) Total Fair Value Level 1 Level 2 Level 3 Assets Interest rate swap $ 1,495 $ — $ 1,495 $ — Liabilities Foreign exchange derivatives $ (2,530) $ — $ (2,530) $ —
Schedule of Fair Value Disclosure of Asset and Liability Not Measured at Fair Value	The following table details the fair value and carrying value of our Convertible Senior Notes due 2026 and 2030 (together referred to as “the Notes”): August 31, 2024 November 30, 2023 (in thousands) Carrying Value Fair Value Carrying Value Fair Value Convertible senior notes due 2026 (1) $ 356,416 $ 390,268 $ 354,772 $ 377,125 Convertible senior notes due 2030 (2) 438,866 483,188 — — Total $ 795,282 $ 873,456 $ 354,772 $ 377,125 (1) The carrying value of the convertible senior notes due 2026 (the "2026 Notes"), are reflected net of $3.6 million and $5.2 million of unamortized debt issuance costs as of August 31, 2024 and November 30, 2023, respectively. (2) The carrying value of the convertible senior notes due 2030 (the "2030 Notes"), are reflected net of $11.1 million of unamortized debt issuance costs as of August 31, 2024.

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Aug. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets are comprised of the following significant classes: August 31, 2024 November 30, 2023 (in thousands) Gross Carrying Amount Accumulated Amortization Net Book Value Gross Carrying Amount Accumulated Amortization Net Book Value Purchased technology $ 280,000 $ (202,610) $ 77,390 $ 280,000 $ (181,045) $ 98,955 Customer-related 458,608 (265,308) 193,300 458,608 (221,362) 237,246 Trademarks and trade names 50,111 (36,095) 14,016 50,111 (32,034) 18,077 Total $ 788,719 $ (504,013) $ 284,706 $ 788,719 $ (434,441) $ 354,278
Schedule of Future Amortization Expense From Intangible Assets Held	Future amortization expense for intangible assets as of August 31, 2024, is as follows: (in thousands) Remainder of 2024 $ 19,947 2025 78,759 2026 69,314 2027 44,740 2028 33,157 Thereafter 38,789 Total $ 284,706
Schedule of Goodwill	Changes in the carrying amount of goodwill in the nine months ended August 31, 2024 are as follows: (in thousands) Balance, December 1, 2023 $ 832,101 Additions (1) 700 Translation adjustments (53) Balance, August 31, 2024 $ 832,748 (1) The additions to goodwill during fiscal year 2024 represent measurement period adjustments related to the acquisition of MarkLogic Corporation ("MarkLogic") in February 2023. See Note 6: Business Combinations for additional information.

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Aug. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Allocation Of The Purchase Price	The allocation of the purchase price is as follows: (in thousands) Purchase Price Allocation Life Net working capital $ 46,335 Property, plant and equipment 723 Purchased technology 67,300 7 years Trade name 12,500 7 years Customer relationships 152,300 7 years Other assets, including long-term unbilled receivables 4,477 Deferred taxes (24,478) Deferred revenue (32,418) Goodwill 161,770 Net assets acquired $ 388,509
Schedule of Business Acquisition, Pro Forma Information	(in thousands, except per share data) Pro Forma Nine Months Ended August 31, 2023 Revenue $ 556,319 Net income $ 64,094 Net income per basic share $ 1.48 Net income per diluted share $ 1.44

Debt (Tables)

Debt (Tables)	9 Months Ended
	Aug. 31, 2024
Line of Credit Facility [Abstract]
Schedule of Interest Expense Related to Notes	Three Months Ended Nine Months Ended (in thousands) August 31, 2024 August 31, 2024 Contractual interest expense (3.5% coupon) $ 3,938 $ 7,875 Amortization of debt discount and issuance costs (1) 450 896 $ 4,388 $ 8,771 (1) Amortization based upon an effective interest rate of 4.0%.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Aug. 31, 2024
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: Three Months Ended Nine Months Ended (in thousands) August 31, 2024 August 31, 2023 August 31, 2024 August 31, 2023 Cost of maintenance and services $ 834 $ 797 $ 2,732 $ 2,146 Sales and marketing 2,169 1,763 6,939 5,027 Product development 3,199 3,065 10,255 9,112 General and administrative 4,356 4,447 15,085 13,826 Total stock-based compensation $ 10,558 $ 10,072 $ 35,011 $ 30,111

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Aug. 31, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table summarizes the changes in accumulated balances of other comprehensive loss during the nine months ended August 31, 2024: (in thousands) Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Hedging Activity Accumulated Other Comprehensive Loss Balance, December 1, 2023 $ (33,295) $ 1,135 $ (32,160) Other comprehensive gain (loss) before reclassifications, net of tax 643 (689) (46) Amount of gain reclassified from accumulated other comprehensive loss into net income, net of tax — (446) (446) Balance, August 31, 2024 $ (32,652) $ — $ (32,652)

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Aug. 31, 2024
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: Three Months Ended Nine Months Ended (in thousands) August 31, 2024 August 31, 2023 August 31, 2024 August 31, 2023 Performance obligations transferred at a point in time: Software licenses $ 57,850 $ 50,544 $ 175,929 $ 164,519 Performance obligations transferred over time: Maintenance 103,088 105,164 307,616 299,917 Services 17,748 19,284 54,903 53,033 Total revenue $ 178,686 $ 174,992 $ 538,448 $ 517,469
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: Three Months Ended Nine Months Ended (in thousands) August 31, 2024 August 31, 2023 August 31, 2024 August 31, 2023 North America $ 104,369 $ 101,923 $ 314,553 $ 306,483 EMEA 57,031 56,779 177,656 166,369 Latin America 5,363 6,318 14,630 15,297 Asia Pacific 11,923 9,972 31,609 29,320 Total revenue $ 178,686 $ 174,992 $ 538,448 $ 517,469
Schedule of Contract With Customer, Asset and Liability	As of August 31, 2024, billing of our long-term unbilled receivables is expected to occur as follows: (in thousands) 2025 $ 10,564 2026 20,507 2027 3,565 Total $ 34,636 The changes in net deferred revenue for the nine months ended August 31, 2024 were as follows: (in thousands) Balance, December 1, 2023 $ 295,036 Billings and other 528,796 Revenue recognized that was deferred in prior periods (235,649) Revenue recognized from current period arrangements (302,799) Balance, August 31, 2024 $ 285,384

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
	Aug. 31, 2024
Restructuring Charges [Abstract]
Schedule of Restructuring Activity	The following table provides a summary of activity for our restructuring actions: (in thousands) Excess Facilities and Other Costs Employee Severance and Related Benefits Total Balance, December 1, 2023 $ 3,297 $ 1,890 $ 5,187 Costs incurred 2,904 404 3,308 Cash disbursements (2,056) (2,231) (4,287) Balance, August 31, 2024 $ 4,145 $ 63 $ 4,208

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
	Aug. 31, 2024
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: Three Months Ended Nine Months Ended (in thousands, except per share data) August 31, 2024 August 31, 2023 August 31, 2024 August 31, 2023 Net income $ 28,464 $ 19,098 $ 67,291 $ 54,862 Weighted average shares outstanding 42,872 43,452 43,296 43,365 Basic earnings per common share $ 0.66 $ 0.44 $ 1.55 $ 1.27 Diluted earnings per common share: Net income $ 28,464 $ 19,098 $ 67,291 $ 54,862 Weighted average shares outstanding 42,872 43,452 43,296 43,365 Effect of dilution from common stock equivalents 839 1,353 871 1,178 Effect of dilution from if-converted 2026 Notes — 176 — — Diluted weighted average shares outstanding 43,711 44,981 44,167 44,543 Diluted earnings per share $ 0.65 $ 0.42 $ 1.52 $ 1.23

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Nov. 30, 2023
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	$ 232,713	$ 126,958
Total amortized cost basis	232,713
Total Fair Value	232,713
Cash
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	116,673	$ 126,958
Money market funds
Cash, Cash Equivalents and Investments [Line Items]
Cash and cash equivalents	$ 116,040

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - USD ($) $ in Millions			3 Months Ended		9 Months Ended
	Apr. 29, 2024	Mar. 01, 2024	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023	Nov. 30, 2023
Derivative [Line Items]
Derivative unrealized gain into Interest expense		$ 0.6
Cash flow hedge loss reclassified to earnings					$ 1.5	$ 2.6
Interest Rate Swap
Derivative [Line Items]
Notional amount	$ 150
Percentage of variable rate debt, managed variability	50%
Basis spread on variable rate	0%
Fixed interest rate	1.855%
Forward Contracts
Derivative [Line Items]
Minimum maturity period, foreign currency derivative					30 days
Maximum maturity period, foreign currency derivative					3 years
Unrealized gains on derivatives, net			$ 1	$ 1.1	$ 0.3	$ 2.7
Forward Contracts | Other Current Assets
Derivative [Line Items]
Derivative liabilities			0.3		0.3
Forward Contracts | Other Assets
Derivative [Line Items]
Derivative liabilities			0.1		0.1
Forward Contracts | Other Accrued Liabilities
Derivative [Line Items]
Derivative liabilities			$ 0.2		$ 0.2
Derivative liability, gross asset							$ 2.5

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Derivatives (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Nov. 30, 2023
Derivative [Line Items]
Notional Value	$ 82,778	$ 103,073
Fair Value	86	(2,530)
Interest rate swap contracts designated as cash flow hedges
Derivative [Line Items]
Notional Value	0	103,125
Fair Value	0	1,495
Forward contracts to sell U.S. dollars
Derivative [Line Items]
Notional Value	82,340	102,229
Fair Value	85	(2,526)
Forward contracts to purchase U.S. dollars
Derivative [Line Items]
Notional Value	438	844
Fair Value	$ 1	$ (4)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Hierarchy of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Nov. 30, 2023
Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset		$ 1,495
Foreign exchange derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset		86
Derivative liability		(2,530)
Money market funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash equivalents, fair value	$ 116,040
Level 1 | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset		0
Level 1 | Foreign exchange derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset		0
Derivative liability		0
Level 1 | Money market funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash equivalents, fair value	116,040
Level 2 | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset		1,495
Level 2 | Foreign exchange derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset		86
Derivative liability		(2,530)
Level 2 | Money market funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash equivalents, fair value	0
Level 3 | Interest rate swap
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset		0
Level 3 | Foreign exchange derivatives
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset		0
Derivative liability		$ 0
Level 3 | Money market funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Cash equivalents, fair value	$ 0

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value of the Convertible Senior Notes (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Nov. 30, 2023
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 795,282	$ 354,772
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	873,456	377,125
Convertible senior notes due 2026
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unamortized debt issuance costs	3,600	5,200
Convertible senior notes due 2026 | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	356,416	354,772
Convertible senior notes due 2026 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	390,268	377,125
Convertible senior notes due 2030
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Unamortized debt issuance costs	11,100
Convertible senior notes due 2030 | Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	438,866	0
Convertible senior notes due 2030 | Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 483,188	$ 0

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Schedule Of Intangible Assets (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Nov. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 788,719	$ 788,719
Accumulated Amortization	(504,013)	(434,441)
Net Book Value	284,706	354,278
Purchased technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	280,000	280,000
Accumulated Amortization	(202,610)	(181,045)
Net Book Value	77,390	98,955
Customer-related
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	458,608	458,608
Accumulated Amortization	(265,308)	(221,362)
Net Book Value	193,300	237,246
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	50,111	50,111
Accumulated Amortization	(36,095)	(32,034)
Net Book Value	$ 14,016	$ 18,077

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, amortization expense	$ 20.1	$ 25.7	$ 69.1	$ 71.1

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Schedule Of Future Amortization Expense (Details) - USD ($) $ in Thousands	Aug. 31, 2024	Nov. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 19,947
2025	78,759
2026	69,314
2027	44,740
2028	33,157
Thereafter	38,789
Net Book Value	$ 284,706	$ 354,278

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Aug. 31, 2024 USD ($)
Goodwill [Roll Forward]
Balance, December 1, 2023	$ 832,101
Additions	700
Translation adjustments	(53)
Balance, August 31, 2024	$ 832,748

Business Combinations - Narrati

Business Combinations - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended
	Feb. 07, 2023	Feb. 29, 2024	Aug. 31, 2024	Nov. 30, 2023
Business Acquisition [Line Items]
Goodwill			$ 832,748	$ 832,101
MarkLogic Acquisition
Business Acquisition [Line Items]
Cash payments in business acquisition	$ 355,000
Goodwill, purchase accounting adjustments		$ 700
Goodwill		$ 161,770
Intangible assets			$ 232,100

Business Combinations - Schedul

Business Combinations - Schedule of Allocation of the Purchase Price (Details) - USD ($) $ in Thousands	Feb. 07, 2023	Aug. 31, 2024	Feb. 29, 2024	Nov. 30, 2023
Business Acquisition [Line Items]
Goodwill		$ 832,748		$ 832,101
MarkLogic Acquisition
Business Acquisition [Line Items]
Net working capital			$ 46,335
Property, plant and equipment			723
Intangible assets		$ 232,100
Other assets, including long-term unbilled receivables			4,477
Deferred taxes			(24,478)
Deferred revenue			(32,418)
Goodwill			161,770
Net assets acquired			388,509
MarkLogic Acquisition | Purchased technology
Business Acquisition [Line Items]
Intangible assets			67,300
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			$ 152,300
Finite-lived intangible assets, useful life	7 years

Business Combinations - Sched_2

Business Combinations - Schedule of Pro Forma Information (Details) - MarkLogic Acquisition $ / shares in Units, $ in Thousands	9 Months Ended
	Aug. 31, 2023 USD ($) $ / shares
Business Acquisition [Line Items]
Revenue | $	$ 556,319
Net income | $	$ 64,094
Net income per basic share (in dollars per share) | $ / shares	$ 1.48
Net income per diluted share (in dollars per share) | $ / shares	$ 1.44

Debt - Narrative (Details)

Debt - Narrative (Details) $ / shares in Units, shares in Millions				1 Months Ended
	Mar. 07, 2024 USD ($)	Mar. 01, 2024 USD ($) day $ / shares	Feb. 27, 2024 $ / shares shares	Mar. 31, 2024 USD ($)	Aug. 31, 2024 USD ($)
Line of Credit Facility [Line Items]
Number of shares subject to anti-dilution adjustments (in shares) | shares			6.6
Capped call transactions (in dollars per share) | $ / shares			$ 92.98
Represents premium price			75%
Adjustment to additional paid-in-capital, purchase of capped calls				$ 42,200,000
2030 Convertible Notes | Convertible Debt
Line of Credit Facility [Line Items]
Debt instrument, face amount		$ 450,000,000
Annual interest rate		3.50%
Debt issuance cost		$ 12,000,000			$ 12,000,000
Common stock exceeds		130%
Trading days | day		20
Consecutive trading day | day		30
Conversion ratio		0.0147622
Initial conversion price (in dollars per share) | $ / shares		$ 67.74
Principal amount redeemable		$ 100,000,000
Share price (in dollars per share) | $ / shares			$ 53.13
2030 Convertible Notes | Convertible Debt | Debt Instrument, Redemption, Period One
Line of Credit Facility [Line Items]
Common stock exceeds		130%
Trading days | day		20
Consecutive trading day | day		30
2030 Convertible Notes | Convertible Debt | Debt Instrument, Redemption, Period Two
Line of Credit Facility [Line Items]
Common stock exceeds		98%
Trading days | day		5
Consecutive trading day | day		10
2030 Convertible Notes | Convertible Debt | Debt Instrument, Redemption, Period Three
Line of Credit Facility [Line Items]
Common stock exceeds		10%
Amended Credit Agreement | Undrawn Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt issuance cost	$ 6,000,000
Additional borrowing capacity	$ 260,000,000
Amended Credit Agreement | Undrawn Revolving Credit Facility | Minimum | Term Benchmark Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.50%
Amended Credit Agreement | Undrawn Revolving Credit Facility | Minimum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	0.50%
Amended Credit Agreement | Undrawn Revolving Credit Facility | Maximum | Term Benchmark Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	3%
Amended Credit Agreement | Undrawn Revolving Credit Facility | Maximum | Base Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	2%
Amended Credit Agreement | Undrawn Revolving Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 900,000,000
Amended Credit Agreement | Undrawn Revolving Credit Facility | Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Undrawn portion, commitment fee percentage	0.15%
Amended Credit Agreement | Undrawn Revolving Credit Facility | Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Undrawn portion, commitment fee percentage	0.40%
Amended Credit Agreement | Undrawn Revolving Credit Facility | Bridge Loan
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 25,000,000
Amended Credit Agreement | Undrawn Revolving Credit Facility | Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity	25,000,000
Credit Agreement | Undrawn Revolving Credit Facility
Line of Credit Facility [Line Items]
Unamortized debt issuance cost	$ 1,000,000

Debt - Schedule of Interest Exp

Debt - Schedule of Interest Expense Related To The Notes (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Aug. 31, 2024 USD ($)	Aug. 31, 2024 USD ($)
Debt Instrument [Line Items]
Contractual interest expense	$ 3,938	$ 7,875
Amortization of debt discount and issuance costs	450	896
Interest expense, debt	$ 4,388	$ 8,771
Convertible Senior Notes | Convertible Debt
Debt Instrument [Line Items]
Annual interest rate	3.50%	3.50%
Debt instrument, interest rate, effective percentage	4%	4%

Common Stock Repurchases (Detai

Common Stock Repurchases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023	Jan. 31, 2023
Equity [Abstract]
Stock repurchase program additional authorized amount					$ 150,000
Stock repurchase authorization					$ 228,000
Common stock repurchased and retired (in shares)	300,000	0	1,600,000	500,000
Common stock repurchased and retired	$ 14,328		$ 86,777	$ 30,000
Remaining authorized repurchase amount	$ 107,200		$ 107,200

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - metric	9 Months Ended	12 Months Ended
	Aug. 31, 2024	Nov. 30, 2023	Nov. 30, 2022
Employee Stock Option | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award service period (in years)	4 years
Employee Stock Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award service period (in years)	5 years
Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award service period (in years)	3 years
Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award service period (in years)	4 years
Long-term Incentive Plan (LTIP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation award service period (in years)	3 years	3 years	3 years
Number of performance metrics	2	2	2
Long-term Incentive Plan (LTIP) | 2022 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares based on cumulative performance condition		75%
Cumulative performance condition		3 years
Percentage of shares based on market condition of total shareholder return		25%
Market condition period		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 cumulative performance condition			75%
Cumulative performance condition			3 years
Percentage of shares based on market condition of total shareholder return			25%
Market condition period			3 years
Long-term Incentive Plan (LTIP) | 2024 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares based on cumulative performance condition	75%
Cumulative performance condition	3 years
Percentage of shares based on market condition of total shareholder return	25%
Market condition period	3 years

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Classification of Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 10,558	$ 10,072	$ 35,011	$ 30,111
Cost of maintenance and services
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	834	797	2,732	2,146
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	2,169	1,763	6,939	5,027
Product development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	3,199	3,065	10,255	9,112
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total stock-based compensation	$ 4,356	$ 4,447	$ 15,085	$ 13,826

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Aug. 31, 2024	Nov. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 459,715	$ 398,504
Other comprehensive gain (loss) before reclassifications, net of tax	(46)
Amount of gain reclassified from accumulated other comprehensive loss into net income, net of tax	(446)
Ending balance	425,612	459,715
Other comprehensive income (loss), tax provision	0	400
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(32,160)	(35,235)
Ending balance	(32,652)	(32,160)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(33,295)
Other comprehensive gain (loss) before reclassifications, net of tax	643
Amount of gain reclassified from accumulated other comprehensive loss into net income, net of tax	0
Ending balance	(32,652)	(33,295)
Unrealized Gains (Losses) on Hedging Activity
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	1,135
Other comprehensive gain (loss) before reclassifications, net of tax	(689)
Amount of gain reclassified from accumulated other comprehensive loss into net income, net of tax	(446)
Ending balance	$ 0	$ 1,135

Revenue Recognition - Timing of

Revenue Recognition - Timing of Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 178,686	$ 174,992	$ 538,448	$ 517,469
Software licenses
Disaggregation of Revenue [Line Items]
Total revenue	57,850	50,544	175,929	164,519
Software licenses | Performance Obligations Transferred at a Point in Time
Disaggregation of Revenue [Line Items]
Total revenue	57,850	50,544	175,929	164,519
Maintenance | Performance Obligations Transferred Over Time
Disaggregation of Revenue [Line Items]
Total revenue	103,088	105,164	307,616	299,917
Services | Performance Obligations Transferred Over Time
Disaggregation of Revenue [Line Items]
Total revenue	$ 17,748	$ 19,284	$ 54,903	$ 53,033

Revenue Recognition - Geographi

Revenue Recognition - Geographic Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Disaggregation of Revenue [Line Items]
Total revenue	$ 178,686	$ 174,992	$ 538,448	$ 517,469
North America
Disaggregation of Revenue [Line Items]
Total revenue	104,369	101,923	314,553	306,483
EMEA
Disaggregation of Revenue [Line Items]
Total revenue	57,031	56,779	177,656	166,369
Latin America
Disaggregation of Revenue [Line Items]
Total revenue	5,363	6,318	14,630	15,297
Asia Pacific
Disaggregation of Revenue [Line Items]
Total revenue	$ 11,923	$ 9,972	$ 31,609	$ 29,320

Revenue Recognition - Unbilled

Revenue Recognition - Unbilled Receivables and Contract Assets (Details) $ in Thousands	Aug. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
2025	$ 10,564
2026	20,507
2027	3,565
Total	$ 34,636

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($)	Aug. 31, 2024	Nov. 30, 2023
Disaggregation of Revenue [Line Items]
Contract asset	$ 0	$ 0
Deferred contract costs	$ 6,100,000	$ 7,600,000
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	9 Months Ended
	Aug. 31, 2024 USD ($)
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 295,036
Billings and other	528,796
Revenue recognized that was deferred in prior periods	(235,649)
Revenue recognized from current period arrangements	(302,799)
Ending balance	$ 285,384

Revenue Recognition - Performan

Revenue Recognition - Performance Obligations (Details) $ in Millions	Aug. 31, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 346
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	73%
Remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-09-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction, period

Restructuring Charges - Schedul

Restructuring Charges - Schedule of Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Restructuring Reserve [Roll Forward]
Beginning Balance			$ 5,187
Costs incurred	$ 308	$ 843	3,308	$ 6,230
Cash disbursements			(4,287)
Ending Balance	4,208		4,208
Excess Facilities and Other Costs
Restructuring Reserve [Roll Forward]
Beginning Balance			3,297
Costs incurred			2,904
Cash disbursements			(2,056)
Ending Balance	4,145		4,145
Employee Severance and Related Benefits
Restructuring Reserve [Roll Forward]
Beginning Balance			1,890
Costs incurred			404
Cash disbursements			(2,231)
Ending Balance	$ 63		$ 63

Earnings per share - Schedule o

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		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Earnings Per Share [Abstract]
Net income	$ 28,464	$ 19,098	$ 67,291	$ 54,862
Weighted average shares outstanding (in shares)	42,872	43,452	43,296	43,365
Basic earnings per common share (in dollars per share)	$ 0.66	$ 0.44	$ 1.55	$ 1.27
Diluted earnings per common share:
Net income	$ 28,464	$ 19,098	$ 67,291	$ 54,862
Weighted average shares outstanding (in shares)	42,872	43,452	43,296	43,365
Effect of dilution from common stock equivalents (in shares)	839	1,353	871	1,178
Effect of dilution from if-converted 2026 Notes (in shares)	0	176	0	0
Diluted weighted average shares outstanding (in shares)	43,711	44,981	44,167	44,543
Diluted earnings per share (in dollars shares)	$ 0.65	$ 0.42	$ 1.52	$ 1.23

Earnings per share - Narrative

Earnings per share - Narrative (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Aug. 31, 2023
Earnings Per Share [Abstract]
Number of shares excluded from the calculation of diluted earnings per share (in shares)	560	252	849	286

Segment Information (Details)

Segment Information (Details)	9 Months Ended
	Aug. 31, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	1

Cyber Related Matters (Details)

Cyber Related Matters (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended		21 Months Ended
	Aug. 31, 2024	Aug. 31, 2024	Aug. 31, 2023	Aug. 31, 2024	Nov. 30, 2022
Business Interruption Loss [Line Items]
Percentage of determined vulnerability in company’s MOVEit Transfer product, revenue		4%
Insurance recoveries				$ 7.5
Cybersecurity insurance, maximum amount					$ 15
Cybersecurity insurance, additional coverage	$ 7.5	$ 7.5		7.5
Cybersecurity insurance, per claim deductible	0.5	0.5		0.5
November 2022 Cyber Incident
Business Interruption Loss [Line Items]
Cyber incident costs			$ 4.2
Insurance recoveries				2.5
Moveit Vulnerability
Business Interruption Loss [Line Items]
Cyber incident costs	0.9	5
Insurance recoveries	$ 0.6	$ 2.5		$ 5

Subsequent Events - (Details)

Subsequent Events - (Details) - Subsequent Event - Cloud Software Group, Inc $ in Millions	Sep. 09, 2024 USD ($)
Subsequent Event [Line Items]
Expected price of acquisition	$ 875
Expected working capital credit	$ 25