Propel Software, creator of the first product value management (PVM) platform transforming how businesses create, market, sell, and service products, announced record-breaking bookings performance for fiscal year ended January 31, 2026. Propel achieved 42% year-over-year (YoY) bookings growth, capped by record bookings in Q4.
The FY26 results mark a multi-year growth trajectory that includes five consecutive appearances on the Deloitte Technology Fast 500. The company's expansion reflects manufacturers accelerating migration from end-of-life legacy PLM and QMS systems to modern, cloud-native platforms powered by agentic AI and multi-CAD integration.
Propel Growth Drivers: Product Innovation, Partners, and Agile Replacement Wins
Propel's 2025 performance was fueled by three key factors.
- Record partner-driven bookings as channel partners positioned Propel as their go-to solution for customers migrating from legacy systems.
- New product revenue, driven by high uptake of DesignHub, a multi-CAD integration solution connecting mechanical and electrical design tools to Propel's PLM, and Propel One, the company's platform-native agentic AI solution.
- Legacy system replacements, as manufacturers across high-tech, medical device, and industrial equipment migrated from end-of-life Oracle Agile PLM and other legacy systems to Propel's cloud-native platform at an accelerated pace.
"Legacy PLM systems showed themselves as a true liability in 2025. Manufacturers realized decades-old platforms don’t just slow product operations, they sequester the very data and context AI needs to drive performance,” said Ross Meyercord, CEO of Propel Software. “Our customers are using Propel’s unified product data to build better products faster. They’re using speed and insight to prevent problems instead of reacting to them. Manufacturers using legacy solutions can’t keep up with manufacturers who continually push technology to do more.“
DesignHub and Propel One Address Critical Manufacturing Challenges
Manufacturers adopted DesignHub and Propel One in 2025 to:
- Eliminate silos/boost productivity: Unify mechanical and electrical CAD data with PLM so design, manufacturing, and supply chain teams work from a unified product record
- Reduce manual work: Automate part creation, file updates, and bills of material (BOM) structures for product releases
- Improve decision-making with AI-powered insight: Instantly summarize complex change orders, identify at-risk components from quality and supply chain data, and enable proactive responses from the field to enhance customer experiences
- Automate routine tasks with AI: Free engineering, quality, marketing, sales and service teams from repetitive work to focus on solving design challenges, enhancing product quality, and accelerating go-to-market activities
These benefits support fast time to market, improved product quality, and enhanced commercialization, eliminating complex CAD-PLM integrations and manual processes that slow down development and delay sales and service operations.
Manufacturers Select Propel as Leading Alternative for End-of-Life Agile PLM
Organizations migrating from end-of-life PLM legacy solutions selected Propel as their modern, cloud-native alternative in 2025. Manufacturers replaced aging Agile PLM systems with Propel to address critical business needs such as enhanced security, enterprise-wide collaboration, improved version control, and faster product launches. Propel's cloud-based platform modernizes manual and legacy Agile-based systems while facilitating seamless collaboration between design, manufacturing, quality, and supply chain teams throughout the product lifecycle, from concept to end-of-life.
"Our legacy Agile system was limiting how quickly and effectively we could react to data the system collects and manages,” said Stacy Sanford, Global Quality System Manager at Nextern, a contract design, development and global manufacturing company for medical devices. “Propel gives us exactly what we’ve been missing - a modern, secure cloud platform that keeps everyone connected with real time data from early concept all the way through production. We are excited to be deploying Propel to improve our employee and customer product lifecycle management experience."
Manufacturers using Propel to replace legacy on premise and rigid first generation cloud PLM systems achieved measurable results including up to 40% reduction in change order cycle times, 100% data accuracy, and seamless supplier collaboration.
