diff --git a/.gitignore b/.gitignore
index eb9353e..5ea505c 100644
--- a/.gitignore
+++ b/.gitignore
@@ -128,3 +128,4 @@ fonttools-2.3.tar.gz
 /fonttools-4.37.2.tar.gz
 /fonttools-4.37.3.tar.gz
 /fonttools-4.37.4.tar.gz
+/fonttools-4.38.0.tar.gz
diff --git a/fonttools.spec b/fonttools.spec
index e4adf41..8cce1c0 100644
--- a/fonttools.spec
+++ b/fonttools.spec
@@ -6,7 +6,7 @@ from an XML text format, which is also called TTX. It supports TrueType, \
 OpenType, AFM and to an extent Type 1 and some Mac-specific formats.
 
 Name:           fonttools
-Version:        4.37.4
+Version:        4.38.0
 Release:        1%{?dist}
 Summary:        Tools to manipulate font files
 
@@ -96,6 +96,9 @@ PYTHONPATH=%{buildroot}%{python3_sitearch} %{python3} -m pytest --ignore Tests/o
 %{python3_sitearch}/%{name}-%{version}-py%{python3_version}.egg-info
 
 %changelog
+* Mon Oct 24 2022 Parag Nemade <pnemade AT redhat DOT com> - 4.38.0-1
+- Update to 4.38.0 version (#2137001)
+
 * Mon Oct 03 2022 Parag Nemade <pnemade AT redhat DOT com> - 4.37.4-1
 - Update to 4.37.4 version (#2131432)
 
diff --git a/sources b/sources
index bad4536..13835d9 100644
--- a/sources
+++ b/sources
@@ -1 +1 @@
-SHA512 (fonttools-4.37.4.tar.gz) = 9e9c49732ca1e16a8d5b294423939297278d544456b37f5fd3b1f3eece8d9100834f8d7a8dee5908006a27419fbda06180ac588de5046a59fb243d728314939c
+SHA512 (fonttools-4.38.0.tar.gz) = 438694e7a4c19ee63ab504763793c0219d96fdc58095fe55a4f44726e96a3ec8ae63066aa47a341a059c7a2c9893b9bbbdfc8ab4d75c177cbd90986debc31431