Pros Holdings (PRO) Lowers Q1 Outlook

Pros Holdings (NYSE: PRO) announced preliminary financial results for the first quarter ended March 31, 2015.

Based on preliminary financial information, PROS currently expects to report total non-GAAP revenue for the first quarter of 2015 in the range of $44.3 million to $44.8 million, below the Company’s guidance of $47.0 million to $49.0 million.

Non-GAAP operating loss for the first quarter of 2015 is expected to be $3.1 million to $3.6 million, compared to guidance of non-GAAP operating loss of $1.0 million to $2.5 million. Non-GAAP loss per share for the first quarter of 2015 is expected to be $0.09 to $0.10 compared to guidance of non-GAAP loss per share of $0.04 to $0.07. Non-GAAP net loss excludes non-cash share-based compensation, intangible amortization, and amortization of debt discount and issuance costs.

*** The Street is looking for Q1 revenue of $48.2 million and loss of $0.05 per share.

CEO Andres Reiner stated, “Our shortfall in license and services revenue for the first quarter was primarily driven by a higher mix of subscription bookings than expected, which had an impact on our recognized revenue in the quarter, and which we anticipate will be recognized in future periods. Our strong sales momentum continued with total bookings in the quarter growing by 20% year over year, in line with our expectations. We believe the trends underlying our business are healthy, and we remain focused on executing against our strategy.”

These preliminary, unaudited estimates are based on management’s initial review of operations for the quarter ended March 31, 2015, and remain subject to change based on management’s ongoing review of the first quarter results and the completion of financial closing procedures. Therefore, actual results may differ materially from these estimates. In addition, the above estimates do not present all information necessary for an understanding of the Company's financial condition as of March 31, 2015.

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