PROS Holdings, Inc. (NYSE:PRO) Q2 2023 Earnings Conference Call July 25, 2023 4:45 PM ET

Company Participants

Belinda Overdeput - Director, IR

Andres Reiner - President and CEO

Stefan Schulz - CFO

Conference Call Participants

Brian Schwartz - Oppenheimer & Company

Parker Lane - Stifel

Chad Bennett - Craig-Hallum Capital Group

Rob Oliver - Robert W. Baird

Scott Berg - Needham & Company

Nehal Chokshi - Northland Capital Markets

Jason Celino - KeyBanc Capital Markets

Victor Cheng - Bank of America

Operator

Greetings. Welcome to the PROS Holdings Second Quarter 2023 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to Belinda Overdeput, Director of Investor Relations. Please go ahead.

Belinda Overdeput

Thank you, operator. Good afternoon, everyone, and thank you for joining us. Our earnings press release, SEC filings and a replay of today's call can be found on the Investor Relations section of our website at pros.com. Our prepared remarks will also be available on our website immediately following the call and will be replaced by the official transcript, which includes participant questions once available.

With me on today's call is Andres Reiner, President and Chief Executive Officer; and Stefan Schulz, Chief Financial Officer.

Please note that some of the commentary today will include forward-looking statements, including, without limitation, those about our strategy, future business prospects and market opportunities and our financial projections and guidance. Actual results could differ materially from such statements in our forecast.

For more information, please refer to the risk factors described in our SEC filings. PROS assumes no obligation to update any forward-looking statements to reflect future events or circumstances.

As a reminder, during the call, we will discuss non-GAAP metrics. Reconciliations between each non-GAAP measure and the most directly comparable GAAP measure, to the extent to which available without unreasonable effort, are available in our earnings press release.

With that, I'll turn the call over to you, Andres.

Andres Reiner

Thank you, Belinda. Good afternoon, everyone, and thank you for joining us on today's call. I'm proud to share we delivered an outstanding second quarter, exceeding our guidance ranges across all metrics.

We grew subscription revenue by 14% year-over-year, total revenue by 11% year-over-year and delivered positive adjusted EBITDA. As a result of our Q2 outperformance, we will once again raise our revenue growth and profitability outlook for the full year, which Stefan will cover in his prepared remarks.