PROS Holdings, Inc. (NYSE:PRO) Q4 2019 Earnings Conference Call - Final Transcript

Feb 06, 2020 • 04:45 pm ET

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PROS Holdings, Inc. (NYSE:PRO) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings and welcome to the Full Year and Fourth Quarter 2019 Earnings Conference Call. [Operator Instructions]

As a reminder, this conference is being recorded. I would now like to turn the conference call over to your host, Shannon Tatz, Vice President of Investor Relations.

Executive
Shannon Tatz

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. 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 our commentary today will include forward-looking statements, including without limitation those about our strategy, future business prospects, and market opportunity and our financial projections. Actual results could differ materially from such statements in our current 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 non-GAAP measures and the most directly comparable GAAP measures 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.

Executive
Andres D. Reiner

Thank you, Shannon. And good afternoon, everyone, and thank you for joining us on today's call.

As I reflect on 2019, I'm incredibly proud of what we've accomplished. Last year, we grew subscription revenue by 48% and also achieved a 48% subscription revenue CAGR for the past four years. At the core of our ability to grow at this strong and sustained rate are our people and the incredible culture that we've created together.

So I'd like to start by sharing a little bit more about our team. I'll cover innovation and market adoption highlights before transitioning to our 2020 strategy. Our people are owners, innovators and care tremendously about our customers, their communities and each other. Every day, I'm humbled to work with such passionate, dedicated and talented team.

Last year, I had the honor of watching our team thrive as we had a record number of promotions and record-low employee attrition as a cloud company. As we grow, we want to continue to be intentional in supporting our people realize their full potential. One way we're accomplishing this is by providing our people leaders a leadership development program in partnership with the Jones Graduate School of Business at Rice University.

In 2019, over 200 of our leaders had the opportunity to strengthen their leadership skills and dive deeper into our strategy and values. This program is helping us increase global alignment and positioning our team to lead the future growth and scale of our Company. Fostering a culture of learning is incredibly important to us. So we plan to continue to invest in learning and development in 2020 and beyond, so we can help our people be widely successful.

As we focus on