PROS Holdings, Inc. (PRO) provides AI-powered SaaS pricing and selling solutions for intelligent commerce. Its PROS Platform uses predictive AI, real-time analytics and automation to support pricing, revenue management, offer marketing, CPQ, and omnichannel shopping and selling experiences.
Company news has centered on PROS Platform product availability, including PROS Smart Price Optimization and Management on SAP Store, integrations with SAP S/4HANA Cloud and SAP Business Technology Platform, customer adoption, strategic partnerships, quarterly operating results, investor presentations, material agreements, governance matters and the completed merger that ended its NYSE-listed public-company status.
PROS Holdings, Inc. reported strong first-quarter 2024 financial results with subscription revenue reaching $64.3 million, up 15% year-over-year. The company also saw improvements in subscription gross margin, total gross margin, and non-GAAP gross margin. With a positive outlook for the future, PROS exceeded guidance ranges across all metrics, driving 15% subscription revenue growth and a near 300% improvement in adjusted EBITDA. Recent business highlights include the launch of the PROS Copilot for Sales Plugin in partnership with Microsoft and the addition of several new customers and the expansion of the PROS Platform within existing customers. Todd McNabb was appointed as Chief Revenue Officer to lead PROS global go-to-market team. The company's financial outlook for the second quarter and full year 2024 shows positive growth in total revenue, subscription revenue, non-GAAP earnings per share, adjusted EBITDA, and free cash flow.
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