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PROS Holdings Inc. (PRO-2.51%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a total revenue of $330.4 million for 2024, an increase from $303.7 million in 2023. Subscription revenue rose to $266.3 million, up from $234.0 million the previous year.
Maintenance and support revenue decreased to $13.5 million from $20.0 million in 2023, attributed to customers migrating to cloud solutions.
Services revenue increased slightly to $50.6 million from $49.7 million, reflecting higher sales of professional services to existing customers.
Cost of revenue totaled $113.3 million, slightly down from $115.3 million in 2023, resulting in a gross profit of $217.0 million, up from $188.4 million.
Operating expenses decreased to $236.1 million from $239.0 million, with selling and marketing expenses declining due to reduced employee-related costs.
The company reported a net loss of $20.5 million, an improvement from a loss of $56.4 million in 2023.
Cash and cash equivalents were $162.0 million as of December 31, 2024, compared to $168.7 million the previous year.
The company has $266.8 million in convertible debt due in 2027, following an exchange of $122.0 million of 2024 Notes for 2027 Notes.
PROS Holdings Inc. continues to focus on increasing subscription revenues and expanding its customer base, while investing in product innovation and operational efficiency.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PROS Holdings Inc. annual 10-K report dated February 12, 2025. To report an error, please email earnings@qz.com.