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Pros Holdings, Inc. (PRO) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Pros Holdings, Inc.

CIK: 1392972 Ticker: PRO
EXHIBIT 99.1

proslogoa03a02a01a22.jpg

PROS HOLDINGS, INC. REPORTS FOURTH QUARTER AND
FULL YEAR 2019 FINANCIAL RESULTS

Total revenue of $250.3 million, up 27% for the full year 2019.
Subscription revenue of $141.2 million, up 48% year-over-year.
Subscription gross margins of 70% and non-GAAP subscription margin of 73%, up 6 percentage points year-over-year.


HOUSTON – February 6, 2020 — 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, 2019.

“We are excited by the continued strong momentum in our business as we have achieved a 48% subscription revenue CAGR over the past four years,” stated CEO Andres Reiner. “We enter this decade excited about our market opportunity and committed to our mission of helping people and companies outperform as we power sales in the digital era.”
 
CFO Stefan Schulz said, “In 2019 we accelerated our total revenue growth rate to 27% while improving our non-GAAP recurring gross margins to 76%. Our AI innovations are more efficiently helping customers drive their digital selling transformations. We have strong momentum coming into 2020 and remain on track to achieve our long-term growth objective.”  

Fourth Quarter and Full Year 2019 Financial Highlights

Key financial results for the fourth quarter and full year 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
 
Q4 2019
 
Q4 2018
 
Change
 
Q4 2019
 
Q4 2018
 
 Change
Revenue:
 
 
 
 
 
 
 
 
 
 
 
  Total Revenue
$66.2
 
$52.6
 
26%
 
n/a
 
n/a
 
n/a
  Subscription Revenue
$40.2
 
$28.3
 
42%
 
n/a
 
n/a
 
n/a
  Subscription and Maintenance Revenue
$53.6
 
$44.0
 
22%
 
n/a
 
n/a
 
n/a
Profitability:
 
 
 
 
 
 
 
 
 
 
 
  Gross Profit
$37.8
 
$33.2
 
14%
 
$39.4
 
$34.7
 
14%
  Operating Loss
$(15.1)
 
$(9.6)
 
$(5.5)
 
$(6.4)
 
$(2.6)
 
$(3.8)
  Net Loss
$(17.3)
 
$(12.8)
 
$(4.5)
 
$(4.7)
 
$(2.1)
 
$(2.6)
  Net Loss Per Share
$(0.41)
 
$(0.34)
 
$(0.07)
 
$(0.11)
 
$(0.06)
 
$(0.05)
  Adjusted EBITDA
n/a
 
n/a
 
n/a
 
$(4.6)
 
$(2.0)
 
$(2.6)
Cash:
 
 
 
 
 
 
 
 
 
 
 
  Net Cash Provided by Operating Activities
$12.9
 
$15.2
 
$(2.3)
 
n/a
 
n/a
 
n/a
  Free Cash Flow
n/a
 
n/a
 
n/a
 
$11.0
 
$14.1
 
$(3.1)



1

The following information was filed by Pros Holdings, Inc. (PRO) on Thursday, February 6, 2020 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)
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)
Leases (Details)
Leases (Notes)
Leases (Tables)
Leases Schedule Of Lease Liability Maturities (Details)
Noncash Share-Based Compensation
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: 0001392972-20-000059
Submitted to the SEC: Wed Feb 19 2020 2:03:03 PM EST
Accepted by the SEC: Wed Feb 19 2020
Period: Tuesday, December 31, 2019
Industry: Computer Programming Services

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