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Pros Holdings, Inc. (PRO) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Pros Holdings, Inc.

HISTORY TOOLS
CIK: 1392972 Ticker: PRO
EXHIBIT 99.1

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PROS HOLDINGS, INC. REPORTS THIRD QUARTER 2019 FINANCIAL RESULTS

•
Total revenue of $64.2 million, up 31% year-over-year.
•
Subscription revenue of $37.5 million, up 57% year-over-year.
•
Subscription gross margins of 71% and non-GAAP subscription margin of 73%, up nearly 650 basis points year-over-year.


HOUSTON – October 24, 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 third quarter ended September 30, 2019.

“As buyers’ expectations change in the digital economy, Global 2000 companies across industries are turning to us to power their digital sales transformations,” stated CEO Andres Reiner. “Our innovations are resonating in the market, which is leading us to increase our sales pipeline, grow our revenue, and deliver more customer value than ever before. We have the right team, strategy and solutions in place to continue to build upon our market momentum and deliver a strong finish to 2019.”

Third Quarter 2019 Financial Highlights

Key financial results for the third 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
 
Q3 2019
 
Q3 2018
 
Change
 
Q3 2019
 
Q3 2018
 
 Change
Revenue:
 
 
 
 
 
 
 
 
 
 
 
  Total Revenue
$64.2
 
$49.1
 
31%
 
n/a
 
n/a
 
n/a
  Subscription Revenue
$37.5
 
$23.9
 
57%
 
n/a
 
n/a
 
n/a
  Subscription and Maintenance Revenue
$51.9
 
$40.1
 
29%
 
n/a
 
n/a
 
n/a
Profitability:
 
 
 
 
 
 
 
 
 
 
 
  Gross Profit
$37.8
 
$29.6
 
28%
 
$39.4
 
$31.2
 
26%
  Operating Loss
$(12.5)
 
$(11.9)
 
$(0.6)
 
$(4.1)
 
$(5.1)
 
$1.0
  Net Loss
$(17.3)
 
$(15.8)
 
$(1.6)
 
$(2.5)
 
$(4.6)
 
$2.1
  Net Loss Per Share
$(0.42)
 
$(0.44)
 
$0.02
 
$(0.06)
 
$(0.13)
 
$0.07
  Adjusted EBITDA
n/a
 
n/a
 
n/a
 
$(2.2)
 
$(4.9)
 
$2.7
Cash:
 
 
 
 
 
 
 
 
 
 
 
  Net Cash Provided by (Used in) Operating Activities
$4.0
 
$(1.2)
 
$5.2
 
n/a
 
n/a
 
n/a
  Free Cash Flow
n/a
 
n/a
 
n/a
 
$3.0
 
$(2.6)
 
$5.6

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

Recent Business Highlights

•
Launched a completely redesigned user interface for PROS Control that empowers B2B customers to deploy even more sophisticated and dynamic pricing strategies in an intuitive, self-serve manner.

•
Strengthened PROS travel technology leadership position with the acquisition of Travelaer SAS and the launch of PROS Retail for Travel, an end-to-end e-Commerce solution that empowers carriers to deliver a best-in-class buying experience and personalized offers to travelers with IATA New Distribution Capability (NDC) Level 4 capabilities.



1
The following information was filed by Pros Holdings, Inc. (PRO) on Friday, October 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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Pros Holdings, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

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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)
Business Combinations (Details)
Business Combinations (Notes)
Commitments And Contingencies
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: 0001392972-19-000147
Submitted to the SEC: Thu Oct 24 2019 4:18:46 PM EST
Accepted by the SEC: Fri Oct 25 2019
Period: Monday, September 30, 2019
Industry: Computer Programming Services

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