Loading...
•
Mar 31, 2023
Pros Q1 2023 Earnings Report
Reported strong first quarter results driven by subscription revenue growth and improved profitability.
Key Takeaways
PROS Holdings, Inc. reported a strong start to 2023 with a 15% year-over-year increase in subscription revenue and a 75% improvement in adjusted EBITDA. The company is raising its full year 2023 guidance across all metrics due to this outperformance.
Subscription revenue increased by 15% year-over-year, reaching $56.0 million.
Subscription gross margin was 75%, with a non-GAAP subscription gross margin of 78%, up over 150 basis points year-over-year.
The company is improving its growth and profitability outlook for the full year of 2023.
New customers such as Air Serbia, Atea, Europcar, Meyle, Nature’s Touch, Nok Air, and QuidelOrtho adopted the PROS Platform.
Revenue by Segment
Forward Guidance
PROS provided guidance for Q2 2023 and full year 2023.
Positive Outlook
- Total Revenue Q2 2023: $72.2 to $73.2 million (6% growth)
- Total Revenue Full Year 2023: $295.0 to $297.0 million (7% growth)
- Subscription Revenue Q2 2023: $56.0 to $56.5 million (12% growth)
- Subscription Revenue Full Year 2023: $231.7 to $233.7 million (14% growth)
- Subscription ARR Full Year 2023: $251.0 to $254.0 million (11% growth)
Challenges Ahead
- Non-GAAP Loss Per Share Q2 2023: $(0.08) to $(0.05)
- Adjusted EBITDA Q2 2023: $(3.2) to $(2.2) million
- Free Cash Flow Q2 2023: $2.5 to $6.5 million
- Adjusted EBITDA Full Year 2023: $3.5 to $6.5 million
- Free Cash Flow Full Year 2023: $26.2 million
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...