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Pros Holdings, Inc. (PRO) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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Pros Holdings, Inc.

HISTORY TOOLS
CIK: 1392972 Ticker: PRO
EXHIBIT 99.1

proslogoa03a02a01a23.jpg

PROS HOLDINGS, INC. REPORTS FIRST QUARTER 2020 FINANCIAL RESULTS

•
Subscription revenue of $43.2 million, up 40% year-over-year.
•
Total revenue of $66.3 million, up 18% year-over-year.


HOUSTON – May 5, 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 first quarter ended March 31, 2020.

“I’m so proud of how our team has kept their focus on supporting our customers and each other during these difficult times,” stated CEO Andres Reiner. “We’ve fully embraced the shift to operating virtually and delivered another strong revenue growth quarter as we help our customers and the industries we serve accelerate their move to digital selling.” 

First Quarter 2020 Financial Highlights

Key financial results for the first quarter 2020 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 2020
 
Q1 2019
 
Change
 
Q1 2020
 
Q1 2019
 
 Change
Revenue:
 
 
 
 
 
 
 
 
 
 
 
  Total Revenue
$66.3
 
$56.1
 
18%
 
n/a
 
n/a
 
n/a
  Subscription Revenue
$43.2
 
$30.9
 
40%
 
n/a
 
n/a
 
n/a
  Subscription and Maintenance Revenue
$55.7
 
$46.2
 
20%
 
n/a
 
n/a
 
n/a
Profitability:
 
 
 
 
 
 
 
 
 
 
 
  Gross Profit
$37.6
 
$35.3
 
6%
 
$39.1
 
$37.1
 
6%
  Operating Loss
$(21.4)
 
$(13.6)
 
$(7.7)
 
$(13.1)
 
$(5.4)
 
$(7.6)
  Net Loss
$(22.7)
 
$(16.9)
 
$(5.8)
 
$(9.8)
 
$(4.2)
 
$(5.6)
  Net Loss Per Share
$(0.53)
 
$(0.45)
 
$(0.08)
 
$(0.23)
 
$(0.11)
 
$(0.12)
  Adjusted EBITDA
n/a
 
n/a
 
n/a
 
$(11.4)
 
$(4.6)
 
$(6.9)
Cash:
 
 
 
 
 
 
 
 
 
 
 
  Net Cash Used In Operating Activities
$(24.2)
 
$(8.1)
 
$(16.1)
 
n/a
 
n/a
 
n/a
  Free Cash Flow
n/a
 
n/a
 
n/a
 
$(25.5)
 
$(9.6)
 
$(15.9)

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

Recent Business Highlights

•
Extended our leadership position on our Guidance solution with strategic innovations that further enable our B2B customers to self-serve, accelerate their time to value, and drive higher adoption with targeted insights.

•
Continued innovation in our market-leading airline passenger revenue management product with the release of willingness-to-pay based forecasting and optimization algorithms to help airlines achieve dynamic pricing.

•
Delivered a series of strategy and training webinars to bring the markets and our customers together to learn, share ideas, and prepare for the post-COVID-19 world; offered free consultations with our industry and pricing experts to help customers proactively manage demand shifts and navigate the current macro environment.

1
The following information was filed by Pros Holdings, Inc. (PRO) on Tuesday, May 5, 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-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 2020 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 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 Awards Outstanding (Details)
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 New Accounting Pronouncements (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: 0001392972-20-000097
Submitted to the SEC: Tue May 05 2020 4:58:52 PM EST
Accepted by the SEC: Tue May 05 2020
Period: Tuesday, March 31, 2020
Industry: Computer Programming Services

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