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Pros Holdings Inc (NYSE: PRO) |
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Pros Holdings Inc Outlook |
On May 8 2024 the Pros Holdings Inc provided following guidance
ited about the opportunities ahead as we help our customers navigate through evolving market dynamics and drive growth in their businesses.
For the first quarter of 2024, PROS reported total revenue of $70 million, a 12% increase from the same period last year. Subscription revenue grew by 15%, reaching $54 million, showcasing the strength of our recurring revenue model. Our professional services revenue also increased by 8% to $16 million, demonstrating the continued demand for our solutions in the market.
Adjusted EBITDA for the first quarter improved significantly, up nearly 300% year-over-year to $7 million. This improvement was driven by our focus on operational efficiency and cost management, as well as the strong performance of our subscription business.
Looking ahead, we remain confident in our ability to drive sustainable growth and deliver value to our customers and shareholders. As we continue to invest in innovation and expand our product offerings, we believe that PROS is well-positioned to capitalize on the growing demand for AI-powered solutions in the pricing, CPQ, revenue management, and digital offer marketing space.
In conclusion, the first quarter of 2024 was a strong start for PROS Holdings, Inc., with our financial results exceeding expectations and demonstrating the strength of our business model. We are excited about the opportunities that lie ahead and are committed to driving continued growth and success for our customers and stakeholders.
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On October 31 2023 the Pros Holdings Inc provided following guidance
PROS Holdings, Inc., a prominent company specializing in AI-powered SaaS pricing, CPQ, revenue management, and digital offer marketing solutions, has recently reported its financial results for the third quarter of 2023, ending on September 30. CEO Andres Reiner expressed his satisfaction with the company's performance, declaring that they have exceeded their projected metrics in all areas. Notably, PROS Holdings achieved a remarkable 16% growth in subscription revenue and experienced a substantial improvement of over $17 million in free cash flow compared to the previous year. Reiner emphasized PROS Holdings' commitment to delivering exceptional solutions to its clients.
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