PROS Holdings, Inc. (NYSE:PRO) Q2 2022 Earnings Conference Call July 28, 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

Parker Lane - Stifel

Rob Oliver - Baird

Jason Celino - KeyBanc Capital Market

Operator

Greetings and welcome to the PROS Holding Second 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 conference is being recorded.

I would now like to turn the conference call over to Belinda Overdeput, Director of Investor Relations. Thank you, ma'am. You may begin your presentation at this time.

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 in 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 a strong second quarter, building on the momentum we had in Q1. We exceeded the high-end of our guidance range across all metrics, grew subscription revenue by 14% year-over-year and grew total revenue by 10% year-over-year.

As we have previously said, the current macroeconomic dynamics are creating momentum for our business. In the first half of 2022 we more than doubled our deal count growth, booking more deals so far this year than we did in all of 2021. Our solutions are resonating in the market as businesses look to offset cost pressures by implementing profit optimization strategies and driving efficiency through digitization.