PROS Holdings, Inc. (NYSE:PRO) Q3 2024 Earnings Conference Call October 29, 2024 4:45 PM ET
Company Participants
Belinda Overdeput - Senior Director, Investor Relations
Andres Reiner - President and CEO
Stefan Schulz - Chief Financial Officer
Conference Call Participants
Scott Berg - Needham & Company
Parker Lane - Stifel
Rob Oliver - Baird
Zane Meehan - KeyBanc Capital Markets
Brian Schwartz - Oppenheimer & Company
Nehal Chokshi - Northland Capital Markets
Jeff Van Reeve - Craig-Hallum Capital Group
Operator
Greetings. Welcome to PROS Holdings Third Quarter 2024 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 over to Belinda Overdeput, Senior 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 are also available on our website 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.
As always, our guidance is based on current conditions. We are cognizant of a number of geopolitical risks and uncertainties that could impact the macroeconomic environment. This guidance presented in today’s earnings release, and which we’ll discuss during the call, assumes the external environment doesn’t significantly change. 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 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 third quarter, exceeding the high end of our guidance ranges across all metrics. We grew subscription revenue by 12% and delivered $9.3 million in adjusted EBITDA in the quarter. Year-to-date, we have grown our subscription revenue by 14%, while delivering a 448% improvement to adjusted EBITDA and a 217% improvement to free cash flow.