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Pros Holdings, Inc. (PRO) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Pros Holdings, Inc.

CIK: 1392972 Ticker: PRO

EXHIBIT 99.1

proslogoa03a02a01a231a.jpg

PROS HOLDINGS, INC. REPORTS FOURTH QUARTER AND
FULL YEAR 2020 FINANCIAL RESULTS

Subscription revenue of $170.5 million for the full year 2020, up 17% year-over-year.
Full year recurring revenue as a percentage of total revenue of 85%, up more than 350 basis points year-over-year.

HOUSTON – February 4, 2021
— 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, 2020.

“I’m incredibly proud of our global team who helped grow our business and delivered a record number of customer go-lives during this challenging year,” stated CEO Andres Reiner. “We’ve been innovating on our platform to ensure companies are prepared for the shift to digital selling. Industry analysts expect that by 2025, 80% of B2B sales interactions will occur in digital channels, and we’re well-positioned to capture the large market opportunity in front of us.”

Fourth Quarter and Full Year 2020 Financial Highlights

Key financial results for the fourth quarter and full year 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.
GAAPNon-GAAP
Q4 2020Q4 2019ChangeQ4 2020Q4 2019 Change
Revenue:
  Total Revenue$60.9$66.2(8)%n/an/an/a
  Subscription Revenue$42.9$40.75%n/an/an/a
  Subscription and Maintenance Revenue $52.6$54.1(3)%n/an/an/a
Profitability:
  Gross Profit$35.5$37.8(6)%$37.0$39.4(6)%
  Operating Loss$(13.4)$(15.1)$1.6$(6.1)$(6.4)$0.3
  Net Loss$(18.2)$(17.3)$(0.9)$(5.9)$(4.7)$(1.2)
  Net Loss Per Share$(0.42)$(0.41)$(0.01)$(0.14)$(0.11)$(0.03)
  Adjusted EBITDAn/an/an/a$(4.2)$(4.6)$0.5
Cash:
  Net Cash Provided by Operating Activities$12.5$12.9$(0.4)n/an/an/a
  Free Cash Flown/an/an/a$11.4$11.0$0.5


1

The following information was filed by Pros Holdings, Inc. (PRO) on Thursday, February 4, 2021 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
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Shareholders Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Business Combination
Business Combination (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 Components Of Income Tax (Details)
Income Tax Disclosure Reconciliation Of Federal Tax Rate (Details)
Income Tax Disclosure Tax Effect Of Temporary Differences (Details)
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
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
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: 0001392972-21-000039
Submitted to the SEC: Fri Feb 12 2021 3:38:00 PM EST
Accepted by the SEC: Fri Feb 12 2021
Period: Thursday, December 31, 2020
Industry: Computer Programming Services

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