Pros Holdings, Inc. (PRO) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2020

Earnings Press Release
10-Q Quarterly Report
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Pros Holdings, Inc.
Ticker: PRO CIK: 1392972

EXHIBIT 99.1

PROS HOLDINGS, INC. REPORTS SECOND QUARTER 2020 FINANCIAL RESULTS

•Subscription revenue of $42.4 million, up 21% year-over-year.

•Recurring revenue as a percentage of total revenue of 85%, up more than 600 basis points year-over-year.

HOUSTON – July 30, 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 second quarter ended June 30, 2020.

“Today’s environment has only accentuated the need for businesses to deliver every aspect of commerce digitally,” started CEO Andres Reiner. “We welcomed new customers this quarter and are excited to accelerate their digital selling journeys with our industry leading, AI solutions. We see an attractive, long-term market opportunity in front of us and are confident in our ability to execute upon our strategy to capture it.”

Second Quarter 2020 Financial Highlights

Key financial results for the second 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
	Q2 2020	Q2 2019	Change	Q2 2020	Q2 2019	Change
Revenue:
Total Revenue	$63.7	$63.9	—%	n/a	n/a	n/a
Subscription Revenue	$42.4	$35.1	21%	n/a	n/a	n/a
Subscription and Maintenance Revenue	$54.1	$50.1	8%	n/a	n/a	n/a
Profitability:
Gross Profit	$37.8	$40.3	(6)%	$39.4	$41.9	(6)%
Operating Loss	$(15.1)	$(12.1)	$(3.0)	$(7.5)	$(3.9)	$(3.6)
Net Loss	$(17.2)	$(17.5)	$0.3	$(6.0)	$(2.8)	$(3.2)
Net Loss Per Share	$(0.40)	$(0.44)	$0.04	$(0.14)	$(0.07)	$(0.07)
Adjusted EBITDA	n/a	n/a	n/a	$(5.7)	$(1.8)	$(3.9)
Cash:
Net Cash Used In Operating Activities	$(22.8)	$(3.5)	$(19.2)	n/a	n/a	n/a
Free Cash Flow	n/a	n/a	n/a	$(23.5)	$(5.2)	$(18.3)

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

Recent Business Highlights

•Recognized as a continued Pricing Software Leader in the G2 Summer 2020 Report based upon user reviews of our AI-powered pricing solutions, customer satisfaction, and market presence.

•Named a Major Player in the IDC MarketScape Worldwide Configure Price Quote Applications for Commerce 2020 Vendor Assessment for the strength of our quoting performance, advanced dynamic pricing capabilities, and innovative roadmap.

The following information was filed by Pros Holdings, Inc. (PRO) on Thursday, July 30, 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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