PROS Holdings, Inc. (NYSE:PRO) Q3 2022 Earnings Conference Call November 1, 2022 4:45 PM ET
Company Participants
Belinda Overdeput – Director-Investor Relations
Andres Reiner – President and Chief Executive Officer
Stefan Schulz – Chief Financial Officer
Conference Call Participants
Chad Bennett – Craig-Hallum Capital Group
Patrick Schulz – Robert W. Baird
Scott Berg – Needham and Company
Nehal Chokshi – Northland Capital Markets
Operator
Greetings. Welcome to the PROS Holdings Third Quarter 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this call is being recorded.
I would now like to turn the conference over to Belinda Overdeput, Director of Investor Relations. Thank you. You may begin.
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 and 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. We delivered another strong quarter. We grew our subscription revenue by 17%, total revenue by 12% and delivered strong profitability improvements. Despite a challenging macro environment our team continues to execute well in drive market adoption of the PROS Platform, at least doubling our deal count every quarter of this year.
Companies are turning to PROS to help them drive profitable growth in the face of increased market volatility in the shift to digital selling. Buyers today whether B2B or B2C expect to be able to engage with sellers through digital channels while still blending in various human touchpoints. Businesses need to deliver the right offer at a market relevant price in real time across any channel the customer chooses to engage in.