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Pros Holdings, Inc. (PRO) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Pros Holdings, Inc.

HISTORY TOOLS
CIK: 1392972 Ticker: PRO
EXHIBIT 99.1

proslogoa03a02a01a18.jpg

PROS HOLDINGS, INC. REPORTS FOURTH QUARTER AND
FULL YEAR 2018 FINANCIAL RESULTS

•
Subscription revenue of $95.2 million, up 57% for the full year 2018.
•
Subscription gross margins of 68% and non-GAAP subscription margin of 71% in the fourth quarter, up more than 850 basis points year-over-year.
•
Cash flow provided by operating activities of $15.2 million and free cash flow of $14.1 million in the fourth quarter, contributing to a full year 2018 free cash flow improvement of $29.0 million year-over-year.

HOUSTON – February 7, 2019 — PROS Holdings, Inc. (NYSE: PRO), a provider of AI-powered solutions that optimize selling in the digital economy, today announced financial results for the fourth quarter and full year ended December 31, 2018.

“As the market embraces our AI solutions, we are driving strong growth and rapid transformation in our business,” stated CEO Andres Reiner. “Subscription revenue accounted for more than half of total revenue for the first time in our company's history last quarter, and we surpassed our pre-transition total revenue in less than four years from when we began our journey to the cloud. We enter 2019 excited by the opportunity in front of us to accelerate our growth once again.”

CFO Stefan Schulz said, “We successfully drove both growth and scale in our business in 2018. In the fourth quarter, we improved our non-GAAP subscription gross margins by nine percentage points year-over-year and our operating margins by seven percentage points year-over-year. We also achieved our goal of reaching near breakeven free cash flow in 2018. We have strong momentum coming into 2019 and remain on track to achieve our long-term financial goals.”

Fourth Quarter and Full Year 2018 Financial Highlights

Key financial results for the fourth quarter and full year 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
 
Q4 2018
 
Q4 2017
 
Change
 
Q4 2018
 
Q4 2017
 
 Change
Revenue:
 
 
 
 
 
 
 
 
 
 
 
  Total Revenue
$52.6
 
$46.3
 
14%
 
n/a
 
n/a
 
n/a
  Subscription Revenue
$28.3
 
$19.1
 
48%
 
n/a
 
n/a
 
n/a
  Subscription and Maintenance Revenue
$44.0
 
$36.2
 
22%
 
n/a
 
n/a
 
n/a
Profitability:
 
 
 
 
 
 
 
 
 
 
 
  Gross Profit
$33.2
 
$28.2
 
18%
 
$34.7
 
$29.9
 
16%
  Operating Loss
$(9.6)
 
$(12.8)
 
$3.2
 
$(2.6)
 
$(5.5)
 
$2.8
  Net Loss
$(12.8)
 
$(17.0)
 
$4.2
 
$(2.1)
 
$(4.3)
 
$2.2
  Net Loss Per Share
$(0.34)
 
$(0.53)
 
$0.19
 
$(0.06)
 
$(0.13)
 
$0.07
  Adjusted EBITDA
n/a
 
n/a
 
n/a
 
$(2.0)
 
$(4.9)
 
$2.9
Cash:
 
 
 
 
 
 
 
 
 
 
 
  Net Cash Provided by Operating Activities
$15.2
 
$4.5
 
$10.7
 
n/a
 
n/a
 
n/a
  Free Cash Flow
n/a
 
n/a
 
n/a
 
$14.1
 
$3.6
 
$10.4


1
The following information was filed by Pros Holdings, Inc. (PRO) on Thursday, February 7, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Pros Holdings, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Income Tax Disclosure Components Of Income Tax (Details)
Income Tax Disclosure Reconciliation Of Federal Tax Rate (Details)
Income Tax Disclosure Tax Effect Of Temporary Differences (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
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)
Consolidated Statement Of Shareholders Equity
Business Combination
Business Combination (Details)
Business Combination (Tables)
Business Combination Assets Acquired And Liabilities Assumed (Details)
Business Combination Pro Forma (Details)
Business Combination Schedule Of Intangible Assets Acquired (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Commitments And Contingencies (Tables)
Commitments And Contingencies Future Minimum Lease Commitments (Details)
Concentrations Of Risk
Concentrations Of Risk (Details)
Convertible Debt (Details)
Convertible Debt (Notes)
Convertible Debt (Tables)
Credit Facility
Credit Facility (Details)
Deferred Costs (Details)
Deferred Costs (Notes)
Deferred Implementation Costs (Details)
Deferred Implementation Costs (Notes)
Deferred Revenue And Performance Obligation (Details)
Deferred Revenue And Performance Obligation (Notes)
Earnings Per Share
Earnings Per Share (Table)
Earnings Per Share Basis And Diluted (Details)
Employment Retirement Savings
Employment Retirement Savings (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Details)
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets Future Amortization (Details)
Goodwill And Intangible Assets Intangible Assets (Details)
Income Tax Disclosure
Income Tax Disclosure (Details)
Income Tax Disclosure (Tables)
Income Tax Disclosure Unrecognized Tax Benefit (Details)
Noncash Share-Based Compensation
Noncash Share-Based Compensation (Details)
Noncash Share-Based Compensation (Tables)
Noncash Share-Based Compensation Assumptions (Details)
Noncash Share-Based Compensation Expense (Details)
Noncash Share-Based Compensation Narrative (Details)
Noncash Share-Based Compensation Noncash Share-Based Compensation Share Based Compensation - Stock Option Rollforward (Details)
Organization And Nature Of Operations
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Quarterly Results
Quarterly Results Quarterly Financial Data (Details)
Quarterly Results Quarterly Financial Information Disclosures (Tables)
Related Party Transaction
Segment And Geographical Information
Segment And Geographical Information (Tables)
Segment And Geographical Information International Revenue (Details)
Stockholders Equity
Stockholders Equity (Details)
Stockholders Equity Secondary Offering (Details)
Summary Of Significant Accounting Policies
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 Impact Of Adoption Of A New Pronouncement (Details)
Summary Of Significant Accounting Policies Significant Accounting Policies (Details)
Trade And Other Receivables, Net
Trade And Other Receivables, Net (Details)
Trade And Other Receivables, Net (Tables)
Ticker: PRO
CIK: 1392972
Form Type: 10-K Annual Report
Accession Number: 0001392972-19-000067
Submitted to the SEC: Fri Feb 15 2019 11:31:31 AM EST
Accepted by the SEC: Fri Feb 15 2019
Period: Monday, December 31, 2018
Industry: Computer Programming Services

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