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Jun 30, 2022
Pros Q2 2022 Earnings Report
Delivered a strong quarter with increased deal count and exceeded guidance across all metrics.
Key Takeaways
PROS Holdings, Inc. reported strong second quarter results, exceeding the high-end of their guidance range across all metrics. The company more than doubled deal count year-over-year and booked more deals in the first half of 2022 than they did all last year.
Subscription revenue of $50.4 million, up 14% year-over-year.
Subscription gross margin of 73% and non-GAAP subscription gross margin of 76%, up over 580 basis points year-over-year.
Raised full year 2022 guidance for total revenue and subscription revenue.
Welcomed new customers adopting PROS solutions, including Aurora Auto Parts, BORG Automotive, and Qatar Airways Cargo.
Revenue by Segment
Forward Guidance
PROS anticipates revenue between $68.0 to $69.0 million for Q3 2022 and between $270.5 to $272.5 million for the full year 2022.
Positive Outlook
- Total Revenue for Q3 2022 is expected to be between $68.0 to $69.0 million, representing a 9% increase year-over-year at the midpoint.
- Subscription Revenue for Q3 2022 is projected to be between $50.5 to $51.0 million, a 15% increase year-over-year at the midpoint.
- Full Year 2022 Total Revenue is anticipated to be between $270.5 to $272.5 million, reflecting an 8% increase year-over-year at the midpoint.
- Full Year 2022 Subscription Revenue is expected to range from $201.5 to $202.5 million, a 13% increase year-over-year at the midpoint.
- ARR is projected to be between $246.0 to $250.0 million, representing a 9% increase year-over-year.
- Subscription ARR is expected to be between $224.0 to $228.0 million, representing a 16% increase year-over-year.
Challenges Ahead
- Non-GAAP Loss Per Share for Q3 2022 is expected to be between $(0.18) to $(0.15).
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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