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Pros Holdings, Inc. (PRO) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Pros Holdings, Inc.

HISTORY TOOLS
CIK: 1392972 Ticker: PRO
EXHIBIT 99.1

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PROS HOLDINGS, INC. REPORTS THIRD QUARTER 2018 FINANCIAL RESULTS

•
Subscription revenue up 51% year-over-year.
•
Total revenue up 17% year-over-year.
•
Free cash flow improvement of $7.2 million year-over-year.

HOUSTON – October 25, 2018 — PROS Holdings, Inc. (NYSE: PRO), a provider of AI-powered solutions that optimize selling in the digital economy, today announced financial results for the third quarter ended September 30, 2018.

CEO Andres Reiner stated, “We have strong momentum in our business and, in the first nine months of the year, we increased our deal volume by 34% as we continue to execute on our land-and-expand strategy.  As companies across industries put commerce at the heart of their digital transformation strategies, we have an exceptional opportunity to grow and scale our business. We are seeing the market embrace our AI solutions, which contributed to our Q3 outperformance and gives us confidence to once again improve our growth outlook for the year.”

Third Quarter 2018 Financial Highlights

Key financial results for the third quarter 2018 are shown below. Throughout this press release, all dollar figures are in millions, except net loss per share. Unless otherwise noted, all results are on a reported basis and are compared with the prior-year period.
 
GAAP
 
Non-GAAP
 
Q3 2018
 
Q3 2017
 
% Change
 
Q3 2018
 
Q3 2017
 
% Change
Revenue:
 
 
 
 
 
 
 
 
 
 
 
  Total Revenue
49.1

 
41.9

 
17
%
 
n/a

 
n/a

 
n/a

  Subscription Revenue
23.9

 
15.8

 
51
%
 
n/a

 
n/a

 
n/a

  Subscription and Maintenance Revenue
40.1

 
32.9

 
22
%
 
n/a

 
n/a

 
n/a

Profitability:
 
 
 
 
 
 
 
 
 
 
 
  Gross Profit
29.6

 
24.2

 
22
%
 
31.2

 
25.7

 
21
%
  Operating Loss
(11.9
)
 
(17.8
)
 
nm

 
(5.1
)
 
(9.9
)
 
nm

  Net Loss
(15.8
)
 
(21.2
)
 
nm

 
(4.6
)
 
(6.9
)
 
nm

  Net Loss Per Share
(0.44
)
 
(0.67
)
 
nm

 
(0.13
)
 
(0.22
)
 
nm

  Adjusted EBITDA
n/a

 
n/a

 
n/a

 
(4.9
)
 
(9.2
)
 
nm

Cash:
 
 
 
 
 
 
 
 
 
 
 
  Net Cash Used in Operating Activities
(1.2
)
 
(8.5
)
 
nm

 
n/a

 
n/a

 
n/a

  Free Cash Flow
n/a

 
n/a

 
n/a

 
(2.6
)
 
(9.8
)
 
nm


The attached tables provide a summary of PROS results for the period, including a reconciliation of GAAP to non-GAAP metrics.

Recent Business Highlights

•
Completed a follow-on public offering of 4,370,000 primary shares of common stock generating $142 million in net proceeds.

•
Earned third consecutive placement to the prestigious Constellation ShortList™ for Configure, Price, Quote Solutions.

•
Showcased PROS incredible talent and technical acumen at the Grace Hopper Conference for Women in Computing, with five PROS employees delivering presentations or moderating panels on topics including user experience and product architecture.


1
The following information was filed by Pros Holdings, Inc. (PRO) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Pros Holdings, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Business Combination (Details)
Business Combination (Notes)
Business Combination (Tables)
Business Combination Business Combination Pro Forma (Details)
Business Combination Business Combination, Schedule Of Finite-Lived Intangible Assets Acquired (Details)
Business Combination Business Combination, Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies Contractual Obligation (Details)
Commitments And Contingencies Future Minimum Lease Payments (Details)
Commitments And Contingencies Purchase Commitments (Details)
Convertible Debt (Details)
Convertible Debt (Notes)
Convertible Debt (Tables)
Deferred Revenue And Performance Obligation (Details)
Deferred Revenue And Performance Obligation (Notes)
Disaggregation Of Revenue (Notes)
Disaggregation Of Revenue (Tables)
Disaggregation Of Revenue Revenue By Geography (Details)
Earnings Per Share (Details)
Earnings Per Share (Note)
Earnings Per Share (Table)
Earnings Per Share Basis And Diluted (Details)
Equity (Details)
Equity (Notes)
Impact On Financial Statement Of Changes In Accounting Policies (Details)
Impact On Financial Statement Of Changes In Accounting Policies (Notes)
Impact On Financial Statement Of Changes In Accounting Policies (Tables)
Noncash Share-Based Compensation (Details)
Noncash Share-Based Compensation (Note)
Noncash Share-Based Compensation (Tables)
Noncash Share-Based Compensation Expense (Details)
Organization And Nature Of Operations
Summary Of Significant Accounting Policies (Notes)
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies Awards Outstanding (Details)
Summary Of Significant Accounting Policies Fair Value Calculation Assumptions (Details)
Summary Of Significant Accounting Policies Significant Accounting Policies (Details)

Material Contracts, Statements, Certifications & more

Pros Holdings, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Ticker: PRO
CIK: 1392972
Form Type: 10-Q Quarterly Report
Accession Number: 0001392972-18-000132
Submitted to the SEC: Thu Oct 25 2018 4:26:49 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Computer Programming Services

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