· Subscription revenue up 51% year-over-year.
· Total revenue up 17% year-over-year.
· Free cash flow improvement of $7.2 million year-over-year.
PROS Holdings, Inc., a provider of AI-powered solutions that optimize selling in the digital economy, today announced financial results for the third quarter ended September 30, 2018.
CEO Andres Reiner stated, “We have strong momentum in our business and, in the first nine months of the year, we increased our deal volume by 34% as we continue to execute on our land-and-expand strategy. As companies across industries put commerce at the heart of their digital transformation strategies, we have an exceptional opportunity to grow and scale our business. We are seeing the market embrace our AI solutions, which contributed to our Q3 outperformance and gives us confidence to once again improve our growth outlook for the year.”
Third Quarter 2018 Financial Highlights Key financial results for the third quarter 2018 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.
Recent Business Highlights · Completed a follow-on public offering of 4,370,000 primary shares of common stock generating $142 million in net proceeds.
· Earned third consecutive placement to the prestigious
Constellation ShortList™ for Configure, Price, Quote Solutions.
· Showcased PROS incredible talent and technical acumen at the
Grace Hopper Conference for Women in Computing, with five PROS employees delivering presentations or moderating panels on topics including user experience and product architecture.
· Awarded prominent speaking and presentation positions at several prestigious events, including Dreamforce,
the London Aviation Festival, the
Mega Asia-Pacific Ancillary & Loyalty Conference,
Microsoft Envision and Inspire,
SAP Customer Experience LIVE, the
T2RL New Architectures in Airline Passenger Systems Conference and TIACA’s International Air Cargo Forum and Exhibition.
· Released findings of the global study, “
The Future is Now: Technologies Shaping Commerce”, conducted by Hanover Research on behalf of PROS, which examines the expectations and digital initiatives of more than 700 B2B decision makers across industries.
· Launched a
roadshow series held across Microsoft Technology Centers where PROS, Microsoft and Adobe are partnering to bring together regional industry leaders to educate them on how to use AI to drive their business revenue growth.
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