NYSE$PRO
Pros Holdings Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Delivered strong results, exceeding guidance across all metrics, with significant improvement to adjusted EBITDA.
PROS Holdings, Inc. reported a strong start to 2024 with subscription revenue growth of 15% and a near 300% improvement to adjusted EBITDA year-over-year.
- Subscription revenue increased by 15% year-over-year, reaching $64.3 million.
- Subscription gross margin improved to 77%, with a non-GAAP subscription gross margin of 79%, up by more than 140 basis points year-over-year.
- Total gross margin increased to 64%, and non-GAAP gross margin reached 67%, showing an improvement of 315 basis points year-over-year.
- PROS launched the PROS Copilot for Sales Plugin in partnership with Microsoft.
Headline financials
Revenue & EPS history
Pros · Revenue · Quarterly
$80.7M
Revenue by segment
Pros · $77.3M total across 3 segments · Q3 2023
- Subscription Revenue$60M—77.7%
- Services Revenue$12.6M+9.2%16.3%
- Maintenance and Support Revenue$4.69M—6.1%
Forward guidance
PROS anticipates total revenue between $80.5 million and $81.5 million and subscription revenue between $64.0 million and $64.5 million for Q2 2024. Full year 2024 guidance includes total revenue between $332.5 million and $334.5 million and subscription revenue between $263.5 million and $265.5 million.
Tailwinds
- Total revenue is expected to grow by 7% in Q2 2024 compared to Q2 2023 at Mid-Point.
- Subscription revenue is projected to increase by 12% in Q2 2024 compared to Q2 2023 at Mid-Point.
- Subscription ARR is anticipated to be between $289.0 million and $292.0 million, representing a 12% growth.
- Adjusted EBITDA is forecasted to be between $1.0 million and $2.0 million.
- Free Cash Flow is expected to be between $22.0 million and $26.0 million for the full year 2024.
Headwinds
- Non-GAAP Earnings Per Share is expected to be between $0.00 and $0.02 for Q2 2024.
- Full year 2024 Adjusted EBITDA is projected to be between $17.0 million and $20.0 million, only a slight increase of $1.4 million at mid point.
- There are risks related to cyberattacks and data breaches.
- The macroeconomic environment and geopolitical uncertainty could impact results.
- The company faces risks related to increasing business from customers and maintaining subscription renewal rates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 7 quarterly earnings reports · overlaid with Q1 2024
-0.4%
Avg return
Earnings day
-0.6%
Avg return
5 days after
-1.9%
Avg return
30 days after
45%
29 / 64 earnings
Positive
+18.3%
Q4 2012
Best reaction
-17.8%
Q2 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | -0.1% | +0.0% | +0.9% | |
| Q2 2025 | -5.5% | -5.9% | -1.3% | |
| Q1 2025 | -2.6% | -1.4% | +4.4% | |
| Q4 2024 | +7.9% | +7.3% | -10.1% | |
| Q3 2024 | +9.3% | +10.0% | +22.0% | |
| Q2 2024 | -4.8% | -10.6% | -20.8% | |
| Q1 2024 | -7.1% | -6.7% | -13.4% | |
| Q4 2023 | +5.8% | +2.6% | +3.4% | |
| Q3 2023 | +4.9% | — | — | |
| Q2 2023 | +7.7% | — | — | |
| Q1 2023 | -0.8% | — | — | |
| Q4 2022 | -3.9% | — | — | |
| Q3 2022 | +6.9% | — | — | |
| Q2 2022 | +2.1% | — | — | |
| Q1 2022 | +6.7% | — | — | |
| Q4 2021 | -4.5% | — | — | |
| Q3 2021 | -3.8% | — | — | |
| Q2 2021 | -1.1% | — | — | |
| Q1 2021 | -3.1% | — | — | |
| Q4 2020 | +0.3% | — | — | |
| Q3 2020 | -8.7% | — | — | |
| Q2 2020 | -17.8% | — | — | |
| Q1 2020 | -6.0% | — | — | |
| Q4 2019 | -11.0% | — | — | |
| Q3 2019 | +2.4% | — | — | |
| Q2 2019 | +8.3% | — | — | |
| Q1 2019 | +11.4% | — | — | |
| Q4 2018 | +4.2% | — | — | |
| Q3 2018 | +8.9% | — | — | |
| Q2 2018 | +3.4% | — | — | |
| Q1 2018 | -7.4% | — | — | |
| Q4 2017 | +15.1% | — | — | |
| Q3 2017 | -6.3% | — | — | |
| Q2 2017 | -7.0% | — | — | |
| Q1 2017 | +3.1% | — | — | |
| Q4 2016 | +3.9% | — | — | |
| Q3 2016 | +8.1% | — | — | |
| Q2 2016 | -5.9% | — | — | |
| Q1 2016 | +9.8% | — | — | |
| Q4 2015 | +1.2% | — | — | |
| Q3 2015 | -11.4% | — | — | |
| Q2 2015 | +0.4% | — | — | |
| Q1 2015 | -15.3% | — | — | |
| Q4 2014 | -4.7% | — | — | |
| Q3 2014 | +1.0% | — | — | |
| Q2 2014 | -3.8% | — | — | |
| Q1 2014 | -13.1% | — | — | |
| Q4 2013 | -3.0% | — | — | |
| Q3 2013 | +5.9% | — | — | |
| Q2 2013 | -5.6% | — | — | |
| Q1 2013 | +14.5% | — | — | |
| Q4 2012 | +18.3% | — | — | |
| Q3 2012 | -3.1% | — | — | |
| Q2 2012 | +13.6% | — | — | |
| Q1 2011 | -8.5% | — | — | |
| Q1 2012 | -3.5% | — | — | |
| Q4 2009 | -2.4% | — | — | |
| Q4 2011 | -2.4% | — | — | |
| Q3 2011 | +3.3% | — | — | |
| Q3 2010 | +3.3% | — | — | |
| Q4 2010 | -9.2% | — | — | |
| Q2 2011 | -9.2% | — | — | |
| Q2 2010 | -9.2% | — | — | |
| Q1 2010 | -8.5% | — | — |
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