Pros Holdings, Inc. (NYSE:PRO) Q1 2022 Earnings Conference Call May 3, 2022 4:45 PM ET

Company Participants

Belinda Overdeput - Senior Manager, IR

Andres Reiner - President and CEO

Stefan Schulz - CFO

Conference Call Participants

Scott Berg - Needham & Company

Jason Celino - KeyBanc Capital Markets

Operator

Greetings. Welcome to the PROS Holding First 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. Please 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 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. 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.

I am pleased with our strong start to 2022. We grew subscription revenue by 14% year-over-year and total revenue by 8% year-over-year. We saw strong performance in both B2B and travel. Our SAS editions on PROS platform are resonating in the market and our team is executing well, evidenced by the fact that we more than doubled our deal count year-over-year in the first quarter. Our increased confidence has also resulted in an improved revenue outlook for 2022. We believe we’re benefiting from a tailwind in our market as businesses look to us to help manage inflationary pressures, increase market volatility and this shift to digital channels. More than ever, businesses need the ability to respond to customer requests with the right offer at the right price at an ever increasing speed due to these macro business trends.