staying It has are of been since is hard I hope virtually Thank due a we and to Good began you, over safe. it to well Andres. pandemic. afternoon. the working year all you believe
PROS, at While customers support we are execute beat. missing to and continues without our still our team mostly a virtual
Our first to end and revenue and XX.X were way respectively, a quarter both our results were million guidance. revenue the XXXX. exceeding of $XX.X total high start Subscription nice
our revenue revenue our rate approximately first quarter the of revenue was XX retention for trailing and XX%. gross XX% recurring months Our total was
been for adjusting rate approximately impacts, retention Now, would have XX%. COVID-related our
ending the anticipate in in range. expect retention XX% We back to the and revenue low throughout drive our increases year the year
decline of our some non-GAAP Our which down and The who is sequentially. from is year-over-year customers XX% margins subscription primarily impact significantly margins in were gross travel impacted subscription revenue the COVID. were to due by
reduce of While able subscription our we some did our affect costs, margins. revenue were on to impact the
in second the will expect XXXX. of half these We improving start again margins
million last overall loss by million from initiatives XXXX first expenses total savings, forward lowering quarter. $X.X these of to declined last X% profitability in to expense year. did where as compared improved $XX.X compared was into EBITDA XXXX Because Our the our Adjusted year. carry
do as through year. we the progressed our increasing Now investments anticipate we
quarter remaining savings than expense So be slightly quarters the first the less will experienced of in XXXX. the
due calculated sequentially quarter. billings billings in Our improved to the trailing XX-months strong first
trailing billings driven the fourth the our decrease of XX billing be year-over-year certain For and months, primarily the back by in XX% to that decreased events quarter continues occurred calculated onetime XXXX.
no million now our of deferrals personnel, credit. offered collect quarter from have first go receivable flow quarter last The amount were year. investments the year-end. through less million airline customers substantial to first we to of the and $XX approximately and the slightly $XXX.X of deferrals a accounts not to collections. previously significant access $XX XX remaining another as longer continue free of our We had a be additional year. to remaining able cash offered exited so We with line Our forward. is payment and unpaid quarter COVID We unused majority of with last amount customers we $X.X $X than up cash during to burn during referencing cash our a million ended of an was million strong million component was over this which will quota-carrying the quarter We improvement
of As with to increase and year expect we personnel discussed, the year more the throughout number XX. quota-carrying the than exit previously
our XXXX, These Before quarter results. we project year. experienced headwinds impact delays headwinds customer through like and and turning rest to COVID first contract had the reported implications for would extent new discuss In to of continue of to of impact financial on restructurings, this to bankruptcies, customer the bookings, will COVID-XX. because to I some guidance,
lower the year demand rate the lag the our Asia are subscription than be the grow We From we second the quarter recognition seeing but our air full travel bookings Pacific. expect increased growth will in will of subscription revenue and a impact revenue for and leisure States bookings. as especially parts perspective, to travel subscription the in United
However, pace. be recovering to appears business a travel at slower
many that and travel our volumes business the of our good even is customers seen passenger at parts still slower addition, portion international down. We of are have Asia anticipate where a United States in pace. in increases in though of passenger In volumes Pacific, a regions international recover will we
now quarter So our for second guidance.
subscription We $XX expect and range in revenue $XX.X $XX range $XX the to revenue to million the to in of million. million to of be be total million
time outstanding. XX.X And We expect second anticipate travel estimated quarter even EBITDA understand take guidance. loss to macro-environment second and enough adjusted of per stabilization reinstate between recover, global of $X.XX for rate estimated $X.XX the to million an our industry million we business annual quarter we're momentum and shares X and though the feel seeing we $XX in confident between share non-GAAP in lastly, to on the it share tax with XX%, we an the to will non-GAAP per be based loss
We're revenues we're year, to of free to $XXX the ARR of also for Total million, $XXX.X $XXX.X loss to convertible between debt. million $XX flow adopted a million expecting of million. in between So guiding to million cash XXXX guiding million. between ending accounting of Also and the $XXX. grow million, to $XXX revenues quarter, standard and $XXX.X EBITDA ARR new and between to million, the $XX following. during and see burn are subscription million X for $XX we million the $XX of
operating flows. This Our not for impact our value throughout In results than executing proud of an standard balance. non-GAAP or the mission on was us convertible of it rather balance to did year year. debt is now incredibly unprecedented new the on past sheet any cash the par accounting discounted have and our team I'm at all presented closing, our for
to Thank to to speaking As your trajectory to and our back now the we we are at from forward well pandemic, turn PROS very we pandemic. growth positioned the support before experienced the return I emerge start events. to for of questions. operator you we will upcoming you for the the call Operator? over with look
