PROS Holdings, Inc. (NYSE:PRO) Q4 2018 Earnings Conference Call Transcript

Feb 07, 2019 • 04:45 pm ET


PROS Holdings, Inc. (NYSE:PRO) Q4 2018 Earnings Conference Call Transcript


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Greetings and welcome to the PROS Holdings Fourth Quarter and Full Year 2018 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 your host, Shannon Tatz, Vice President of Investor Relations.

Shannon Tatz

Thank you, operator. Good afternoon everyone and thank you for joining us. With me on today's call is Andres Reiner, President and Chief Executive Officer; and Stefan Schulz, Chief Financial Officer. Before we begin, note that some of the information we will discuss during this call will consist of forward-looking statements including without limitation our guidance, our strategy, future business prospects, revenue, margin and market opportunities.

Actual results could differ materially from our current forecast. Please refer to the risks and uncertainties, as well as, other factors described in our filings with the SEC for more information.

PROS assumes no obligation to update any forward-looking statements to reflect future events or circumstances. Also, during the call, we will discuss financial results in accordance with Generally Accepted Accounting Principles or GAAP, as well as, certain financial results and forward-looking guidance on a non-GAAP basis.

A reconciliation of each non-GAAP measure to the most directly comparable GAAP measure to the extent available without unreasonable effort is available on the press release distributed earlier today and in the Investor Relations section of our website at A replay of today's call will also be available on the website, and we encourage everyone to review this additional information.

So with that, I will turn the call over to Andres.

Andres Reiner

Thank you, Shannon and good afternoon, everyone and thank you for joining us on today's call. I don't think there has ever been a more exciting time in our Company's history. We've accomplished so much in the last few years and we have an incredible opportunity in front of us today.

When we started our move to the cloud in 2015, our goal was to make our technology accessible to the masses, and to transform to a world-class SaaS company. We set out to redefine what was possible in every area of our business, and I am blown away by the leap forward, we've made in less than four years. We are seeing the benefit in the market.

Last year, we grew our B2B deal volume by more than 40% year-over-year. We re-imagine our solutions and now we are powering e-commerce and processing massive data volumes faster than the blink of an eye. We completely transform our delivery process and our next generation B2B solutions deliver customer value in half the time.

We reinvented our go-to-market strategy and we're seeing more instances of deals closing in weeks instead of months. We studied many cloud transitions at the start of our journey and we knew our goals were aggressive. We never wavered on our strategy and we surpassed our pre-cloud transition revenue in less