Loading...
•
Jun 30, 2024
Pros Q2 2024 Earnings Report
Delivered a solid second quarter, exceeding guidance across all metrics.
Key Takeaways
PROS Holdings, Inc. reported a solid second quarter with subscription revenue up 14% year-over-year and improved operating cash flow by $13.0 million. The company exceeded the high-end of its guidance ranges across all metrics.
Subscription revenue reached $65.6 million, a 14% increase year-over-year.
Subscription gross margin was 78%, with a non-GAAP subscription gross margin of 80%, improving by over 160 basis points year-over-year.
Operating cash flow improved by $13.0 million, nearly 200%, year-over-year.
Welcomed new customers such as Air Moana, Atlantic Aviation, and Dynata, while expanding adoption within existing customers like Aeromexico, Allegiant Air, and BASF.
Revenue by Segment
Forward Guidance
PROS anticipates total revenue between $81.5 to $82.5 million and non-GAAP earnings per share between $0.08 to $0.10 for Q3 2024. For the full year 2024, the company anticipates total revenue between $329.0 to $331.0 million.
Positive Outlook
- Q3 2024 total revenue is expected to grow by 6% compared to Q3 2023 at the mid-point.
- Q3 2024 subscription revenue is expected to grow by 10% compared to Q3 2023 at the mid-point.
- Q3 2024 Adjusted EBITDA is expected to be between $6.5 to $7.5 million.
- Full year 2024 total revenue is expected to grow by 9% compared to the prior year at the mid-point.
- Full year 2024 subscription revenue is expected to grow by 13% compared to the prior year at the mid-point.
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...