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Pros Holdings, Inc. (PRO) SEC Filing 10-Q Quarterly report for the period ending Sunday, March 31, 2019

Pros Holdings, Inc.

HISTORY TOOLS
CIK: 1392972 Ticker: PRO
EXHIBIT 99.1

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PROS HOLDINGS, INC. REPORTS FIRST QUARTER 2019 FINANCIAL RESULTS

•
Subscription revenue of $30.4 million, up 45% year-over-year.
•
Subscription gross margins of 68% and non-GAAP subscription margin of 71% in the first quarter, up more than 750 basis points year-over-year.


HOUSTON – April 25, 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 first quarter ended March 31, 2019.

“I’m incredibly pleased with our strong start to 2019,” stated CEO Andres Reiner. “We are seeing a tailwind in our market as companies are creating strategic initiatives around AI and digital transformation. Our sales funnel is growing as companies are seeking out our AI solutions to transform how they sell in the digital economy, and our strong market momentum contributed to more than a 40% increase in year-over-year deal volume. The strength of our people and product strategy has positioned us exceptionally well to take advantage of the attractive market opportunity in front us.”

First Quarter 2019 Financial Highlights

Key financial results for the first quarter 2019 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
 
Q1 2019
 
Q1 2018
 
Change
 
Q1 2019
 
Q1 2018
 
 Change
Revenue:
 
 
 
 
 
 
 
 
 
 
 
  Total Revenue
$56.1
 
$47.9
 
17%
 
n/a
 
n/a
 
n/a
  Subscription Revenue
$30.4
 
$21.0
 
45%
 
n/a
 
n/a
 
n/a
  Subscription and Maintenance Revenue
$45.7
 
$37.5
 
22%
 
n/a
 
n/a
 
n/a
Profitability:
 
 
 
 
 
 
 
 
 
 
 
  Gross Profit
$35.3
 
$28.4
 
24%
 
$37.1
 
$30.1
 
23%
  Operating Loss
$(13.6)
 
$(14.7)
 
$1.1
 
$(5.4)
 
$(6.7)
 
$1.3
  Net Loss
$(16.9)
 
$(18.9)
 
$1.9
 
$(4.2)
 
$(6.0)
 
$1.8
  Net Loss Per Share
$(0.45)
 
$(0.58)
 
$0.13
 
$(0.11)
 
$(0.19)
 
$0.08
  Adjusted EBITDA
n/a
 
n/a
 
n/a
 
$(4.6)
 
$(6.7)
 
$2.1
Cash:
 
 
 
 
 
 
 
 
 
 
 
  Net Cash Used in Operating Activities
$(8.1)
 
$(4.7)
 
$(3.4)
 
n/a
 
n/a
 
n/a
  Free Cash Flow
n/a
 
n/a
 
n/a
 
$(9.6)
 
$(6.8)
 
$(2.8)

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

Recent Business Highlights

•
Released new agreement management capabilities in PROS Smart CPQ to further differentiate the PROS platform in the market, with several customers already using these new features to model and simulate complex deals containing up to tens of thousands of line items.

•
Named to the prestigious 2019 CRM Watchlist for the fifth consecutive year in recognition of PROS impact in the CRM market, promise for the future and vision around product strategy and innovation.

1
The following information was filed by Pros Holdings, Inc. (PRO) on Thursday, April 25, 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Assess how Pros Holdings, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
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Pros Holdings, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Pros Holdings, Inc.'s 10-Q Quarterly Report:

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 Statement Of Stockholders' Equity Statement
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Commitments And Contingencies
Commitments And Contingencies (Tables)
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)
Leases (Details)
Leases (Notes)
Leases (Tables)
Leases Schedule Of Lease Liability Maturities (Details)
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 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: 0001392972-19-000086
Submitted to the SEC: Thu Apr 25 2019 12:26:41 PM EST
Accepted by the SEC: Thu Apr 25 2019
Period: Sunday, March 31, 2019
Industry: Computer Programming Services

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