PRO - Earnings call transcript Q2 2021

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Operator

Greetings. Welcome to the Pros Holdings Second Quarter 2021 Earnings Conference Call. [Operator Instructions]. I would now like to turn the conference over to Belinda Overdeput, Senior Manager of Investor Relations.

Belinda Overdeput

Thank you, operator. thank joining and everyone, afternoon, you us. for Good

filings, replay on of earnings at Investor press call a SEC release, pros.com. website our found Our today's and can section of Relations the be

forecast. be also and is includes Stefan today Andres President today's call replaced participant some will remarks business In there uncertainty projections. contemplated and of the the and Delta once COVID-XX Schulz, be significant prepared financial include available our impact available Executive particular, With variant. on and at any following and duration Chief that will the on results today. around This time without commentary our the transcript, website official as company's and given results Officer; cases the call Please available. change materially of Reiner, information of on means impact Actual prospects by of could in questions and the including, our of estimate based results immediately our which the Officer. from increase statements, the market on the COVID-XX, differ remains outlook Our about opportunities, strategy, will and that business Financial in forward-looking note could the those Chief best limitation, future such statements is me

to any statements described SEC filings. our forward-looking in future PROS circumstances. please factors obligation information, risk more no to the For update to refer events assumes reflect or

available over the press that, we most which without Andres. comparable available turn between release. non-GAAP the each the you, to directly effort, earnings As the Reconciliations I'll our are a to measure measure, reminder, will call With discuss unreasonable call, metrics. to non-GAAP in during GAAP and extent

Andres Reiner

last I'm Thank you, metrics everyone, executed all strongly today's you, across thank joining to of call. for our Belinda, quarter. that on share pleased we us and

This with major We solutions taking to leadership. a want and Our continuous the on our next-generation launch cloud-first in the team us launch our platform. a performance our testament is of achieved value to recent BXB XXXX. innovation additions milestone demonstrates by back to provide. we when launch PROS initiative our start SaaS incredible our I the

about It's the cloud of in financial how transition changing solutions about deliver our market creating just or next our adoption. model. not was we generation to accelerate Our processes

annually As a and XXXX. XX% result, over subscription between our grew revenue XXXX

Now sizes. accessible platform solutions our all our SaaS the of to we're with and of making launch BXB businesses additions, our

to are Our as composable basic selling advanced use new spanning pricing, additions cases. e-commerce SaaS very available paths, in

ensure matter initiative company-wide is their markets. of selling experience and that adoption made time We've of to the solutions. and in from interconnected transparency, discover expectation a meets enables to it businesses packages quick their self-serve fully our strategy rapid value price every in to incredible consistency PROS to digital customers platform their sales step in experience to The get drive mindset. an capabilities This capabilities our deliver digital easier at implementation of capabilities packages enabling every win customer channel. a part compare our and by embracing of across customers launch prescriptive for continually Our a speed, by than of journey harmonized ever to weeks, personalization, of buyers' evolve the platform,

digital across and we price our using live. journey plans are Our are Europe. Eneco optimization and vision. welcomed sustainable supplier is BXC a they a to serving expand energy, resonating CPQ and embarked BXB transformation digital a platform business. producer Eneco already channels. the to Eneco's selling and proud Last segments omnichannel of capabilities to are that quarter, customer have of their customers to improve already millions their on and is and power selling solutions Eneco traditional across market. experience of share in all Netherlands-based Smart with selected as customer new our touchpoints to across enable BXC They

selected LafargeHolcim drive at construction leverage center revenue them strategy. welcome to as LafargeHolcim of and also put to competitive AI-powered platform the our real-time PROS growth. a in pricing increasingly We go-to-market our the guidance new strategy, largest of an customer, their one AI and market, capabilities profitable It globally. optimize materials their dynamic of will allowing price suppliers to

see Now positive about recovery even exceeded several reporting seeing leisure in domestic the space. travel XXXX America continues what I'll bit we're the a with U.S. momentum reached travel little levels. talk carriers airline North or in air has to

travel the down slowing and like of the seeing Asia-Pacific regions improve, Delta we're start other Europe. recent progress in is spread to geographies While variant and

and in travels a the in another customers their North fueling where to capabilities uncertainty global carrier reinvesting advanced last to travel experience in fair the is American forecasting selected airlines RM of that digital recovery mind. provide PROS welcome Advantage PROS quarter, remains, recovering Airlines superior and platform Pleased our are timing to family. top demand While PROS to we revenue while share growth optimization leverage recovery. Hawaiian for transformation of buying

journeys. that Our patterns data more they're even a win landscape to Where winning AI in different startup is that advanced where self-learning produce by more of if value and Hawaiian X to and Breeze to their Airlines, LafargeHolcim, algorithms to airlines milestone. case I'm also went months. look changing quickly, last welcome as using the revenue in data digital the Essentials as at constantly new we're how historical of self-serve Breeze among environment, even this close, where I with to share in proud to Breeze less the real-time is quarter, I'm before incredible is on core with as congratulations to of generates Hawaiian execute than the in to DNA. dramatically RM like Airways, new offers them even airlines incredible leveraging work. auto-calibrate At live based adapts than We're forward future important And at historical solution partnering innovation innovating to Airways the is Airlines on look We growth others, our our already unprecedented a digital on Huge proud an patterns on present, have on Breeze share like no evolves data. change, strategy. customers. update management PROS, data distribution AI thrilled from them power to times I'd is on selling of ever proof Eneco, customer. that their experiences.

leverage to over model, prioritizes to location. a and we take productivity of the environment both Our work where strategy that is a new virtual in-person best hybrid create

empowered need forward. We away from an to at take with of key they amount our to our Additionally, personal Trusted instead their transparency of trust innovation time, employees unloaded and off, of U.S. that culture while and to Time customers delivering program. employee believe driving work are goals discretion fostering engagement our Off business time we've in our

partners, to company. turn shareholders outlook. continuing your where to continued and and for in an thank environment Thank every to can creating In PROS. make the that, of an cover like to for With support you their PROS what to on call ongoing the to you and employee is best to Stefan to reach our the over Our full financial I'd talent potential focus our continue PROS. our team closing, world grow incredible performance attract customers, we'll global

Stefan Schulz

good Thanks, everyone. afternoon, Andres, and

with PROS. huge of Andres our next-generation As launch the for milestone marks platform SaaS PROS the additions a mentioned,

faster. Our facilitate value choose motion market-leading and prescriptive by getting land our start SaaS a expand enabling services from to and want they additions them package to further solutions customers selling then where and

for our offerings latest and pricing. Our commercial have simplified SaaS with designed been for speed commercial terms additions

more much came the software together at continue is objective so of do a build in so our for is than step journey. towards far, to with. Every proud business approach. best goal This all experience our preparation easiest will PROS the the possible first this However, this delivering of has commercial throughout upon announcement. launch, strategic with department being and team we what the I'm of this the to customer accomplished company

growth flow. a in end and quarter Subscription subscription QX, well guidance. and record our as a exceeded year-over-year, second results. X% revenue driven We of the our improved the strong million, to moving delivered EBITDA up by cash Now $XX.X free adjusted revenue was as high

was revenue. recurring second XX% total revenue of our Our quarter

retention revenue trailing the months XX approximately for XX%. was gross rate Our

net which can expansions, we reminder, retention rate. gross a disclosed from not real revenue not retention Gross revenue churn. revenue rate, As mask bookings retention include does

impacts gross revenue retention is would over travel-related last that concessions second Our affected COVID-related XX% to in occurred lower XX for trailing have XXXX, due rate retention revenue of than been historical our mostly the approximately XX% the that months. of our XX-month half stemming unique customers. the Adjusting COVID rate our from

the ending XX%. in and approximately retention Our anticipate are improving XXXX, rates year at we

primarily subscription our customers from sequentially up year-over-year Our gross and due non-GAAP revenue which year-over-year. in from quarter COVID. are travel impact are margins is down by to decline of some The XX%, were impacted the significantly last subscription XX% who margins

While to and impact remain the the expect affect able to our improve the in X some over half We this revenue second revenue XXXX. subscription reduce we margins therefore, of were did costs, our to on not impact do of relatively expect next quarters margins. subscription constant

compared EBITDA compared lowering year. first XXXX, the quarter the carry X% $X.X Because our loss to forward million of where improved year. these million expenses and did year. declined initiatives profitability into savings, the XXXX $X.X expense as in by of from was X% last Our half in total Adjusted overall last to

trailing calculated quarters year-over-year. XX year the but the X% quarterly calculated year-over-year have first decreased as months, billings of For this expected, in the our X improved billings

$XX to burn quarter flat calculated was driven year-over-year in of the remainder over the flow quarter XX% We last personnel, billings ended third growth look by to full expense million, of year, in and our Free quarter We $XXX.X access was we to additional line year. collections. and second combination and strong with investments to this quota-carrying As relatively but year, with unused anticipate continue our fourth in exited QX XX be cash and million strong billings is which $X.X we calculated the customer of improvement cash year-over-year an quarter, of a the efficiencies expectations. million operating have through the in credit. an of with and line

we discussed, expect previously with As year quota-carrying the personnel. XX or to exit more

I on results. COVID impact reported of would like turning the guidance, discuss Before to our to financial

as a the rest had will a and delays These continue year. of variant around due in grow little of for to lower year, these contract the business recovery XXXX, airlines the likely be continue Delta experienced in bookings, this but as to impact recognition delays to full result the led half growth COVID-XX. and lags has customer The subscription we to the for spike quarter to the us subscription our the the headwinds third first During we implications many cases world. headwinds, revenue this our the year revenue bookings subscription than our bankruptcies, Despite to rate to headwinds of of in business customer new expected the project expect restructurings, recent will and bookings.

Turning cash flow raising free now ARR, the Based during first guidance. outlook follows. and guidance on our performance our as adjusted half, annual we QX and are EBITDA, to providing

in range $XX.X of $XX.X We total $XX.X expect to revenue and subscription million be range be revenue million $XX to to million, the the to million. QX of in

third We XX.X share an estimated and loss and loss share outstanding. non-GAAP we between on per estimated $X.XX per And anticipate of $X.XX an between expect of million tax adjusted quarter quarter shares third rate lastly, million. EBITDA $XX X based XX%, with non-GAAP

of of revenue to and million to $XXX.X Adjusted total $XX and to XX and subscription $XX we in the $XXX.X be between of For range range free million million to of between in expect cash and revenue EBITDA $XXX.X million. the $XXX.X loss the be XX burn million million. flow year,

$XXX We $XXX ARR range are also an expecting ending million. between million to

raise a significant us improvement half in gives have full guidance of first free year. our flow to for XXXX, cash the our We enjoyed the which results to confidence

little first thank look burn, than cash amazing and second an during to passion a half we the XXXX continued closing, a breakeven. free burn As below XXXX, and we for to the of our fourth half quarter would like where a reflects overall we is I In experienced larger anticipate and customers that support. the flow of quarter their third employees

XXXX. at with to We now back upcoming thank And turn of over second are you forward you will the operator looking also half for for your and look of forward to Operator? to PROS, we events. our the speaking we I call support questions. the

Operator

Instructions]. [Operator

Oliver Rob from comes question first Our Baird. with

Robert Oliver

definitely Great. data Andres, Appreciated. is definitely for the me. then for One and -- it questions flight the Andres, one, you. Stefan Two for better, and showing that. sounds just U.S. you, like is

uncertainty and some the variant delays. You Delta some also mentioned introducing

So the I around the was just that which Stefan, then better talked of talk conversations revenue with And expected maybe customers X in know those specifically out I you little but a this kind you're guidance, about you could wondering variables? if was having how growth, more quarter. bit played about subscription than to the

it Just an see up curious I there? conversions? what Was it would was new from there strength? platform? it impact the be color a Any the straight little assume to driver maybe was was early great. Or more BXB

Andres Reiner

Perfect.

business So I'll start momentum. overall with

to investing they're see So we great we BXB our Airlines saw we would that North joined to expected would point. they're the have happy is pretty And America and family what really Hawaiian about strong what technology, travel. And we're this that Diggintravel is And say are see. side. talked to say on that's rebounding, in the I and our Obviously, we investing the airlines in airlines. travel I is of

I overall, to think we impacted we to look from be travel, as you, going at expected. as would it's back half So the tell continue we

the we're variant. overall the expecting say in year, So happen not travel likely continues that's to given from But next Delta the to feel improve. would I rebound momentum overall, side, a more back we the BXB big half. in

Stefan Schulz

Yes. And is Stefan. Rob, this

recognition better. Andres the to showed for much relates of we going half. licenses where benefited pointed we first maybe thought bookings that the We that the in we the would subscription the it quarter. -- There also out, As ended benefited, strength term this that. second from BXB quarter. renewed slightly the revenue, some quarter But and as we One, reasons two we it's are knew pretty were into we in

out that second then from timing for third you to as we quarter, I in the a think flattens little is growth at saw QX. our really bit that guidance, and compare quarter term of see when saw the that you look reason from kind you rate QX the the that, at second you'll to the what that And recognition of that license look quarter.

Operator

with Scott Berg Our from comes Needham. next question

Joshua Reilly

deal, ancillary This for from destination the origination sales modules? Scott. in services? the quarter. are deals and is travel is like customers more it today? the travel United Curious, which a more like Josh on what Or pipeline you and was Are the strong products seeing Congrats expanding on core for

Andres Reiner

interest, retail I a question. a Hawaiian and Josh, of lot which we next-generation around was that's interest. or Yes, both RM say areas offers, retail also demand platform, our But the in see RM of great -- lot actually solutions, a a would full digital of we lot digital dynamic of are solutions. seeing are demand

going say continue So think see around sales lot we I would innovate the motion. of coming full airlines, them a of digitization I they're to as back, their to

our it's especially we're market, suite. to RM their obviously, the the is market. from, would bookings, the contracts, volatility critical around I this group RM everything But cargo and significantly with bookings, of innovations are we've say in area So another really that passenger those those continued including innovate And interest. seeing solution. next-generation And

Joshua Reilly

Delta as Or mentioned, you the last look Great. which you assumed $XX think variant? then with just subscription that? And here how there is process it's the be -- because the that thought that impact the to if quarter-over-quarter. of And travel QX Is at the What's a ticking revenue think the over subscription we million up year. lost I revenue about Okay. there? flat follow-up, is in flatter? Or should is guidance any from $XX just

Stefan Schulz

Yes.

the $XX the there, impacted last That's year still result hasn't million COVID. that out changed. that about from from really talked having and So we us

because in look much from And variant, about a at because the the this year. said I QX guide we a same. if earlier, think amount of license And normalize year, that as that Andres quarter, of so of not also the I next term for saw some assuming recovery trend seeing you that things growth perspective, money I I'll you marketplace from second from to a of as Delta little think think that say to perspective, QX migrations more number in any QX probably the you'd we type impact QX But this, take the had the subscription see that nice still in QX we So a are QX. of the would we're are of is event. is in of an some a the place that be likely now macro assumed to originally of

you those as little up a subscription would normally that And maintenance where do seen in of we now dips and take maintenance QX that so migrations. comes transition you'll more probably some place have QX, in see

So that's QX that's another guidance. the the equation part of driving

Operator

comes with Chokshi Northland question Nehal next from Capital. Our

Nehal Chokshi

And nice subscription. performance on the

it about typically seem down at XX-plus albeit it's like looks XX% like Q-over-Q. up sequential year-over-year. Looking percent downtick, billings, doesn't was a it it's And big

Q-over-Q was that around of billings kind the So why basis? performance a on

Stefan Schulz

Yes.

So what Nehal, we with for thinking, in line course slightly of where -- the as as even we maybe actually set year. were pretty we were we much thinking were we ahead actually,

As you from can billing of renewals. data the probably imagine, much most pretty determined is

And it so to consistent we to we pretty for QX. idea to billings good be And what to a going the we play really we are the with from we your of little going calculated Actually, a full were growth point, QX year. in saw bit. how fairly thought have outperformed actually out

do to expecting over that's that's last we to we're saw at As year. affect while we're say how have And be there year. it in we how last good see relatively going quarter-to-quarter to significantly look And timing. flat that increase some going QX to thinking what QX, that out, that play we're seeing it play to visibility itself are will out. it's we generally I occur that things

and may with have the much be be exit track go the at that things going to we that, QX, is billing last the same calculated at where this look end do we performance we of at wanted to that QX. happen. beginning the is this we when may way back year and we're out up year, year-to-date as gone But overall, as feel a Those this to of on step and year going true So very pretty happy well. be, year billings

Nehal Chokshi

pretty last pipeline? guys that still was how And on seeing improving Are with going trend? you Great. pipeline the quarter, Okay. talked about you significantly. What's

Andres Reiner

pipeline to see growth. coverage. tell pipeline we're Yes. Yes. We're pipeline have strong very from still continuing I would sequential coverage, continuing overall, even And you a to that

So top funnel, we obviously, the the very BXB of overall, focused on end feel absolutely. And good. industry, very but

Nehal Chokshi

then why are higher you And Okay. than of end a retention 'XX historical predicting finally, calendar at rate the levels?

Stefan Schulz

the Would repeating didn't get again? you question. I quite it mind

Nehal Chokshi

you retention like around the than remarks was calendar rate plus you're 'XX. basis of levels. be in that said believe I that your end XX% it prepared to And points about expecting sounded higher XXX historical by

So why that projected improvement?

Stefan Schulz

Yes.

to COVID. renewal and retention felt to had our depths COVID XXXX, industry where just at And would well, we to through back been doing the where prior airline the got our that COVID, throughout they and right we was to what rates was right like go once recover we were rate we of XX%. -- we that prior when this felt at to So as XX%, XXXX

what most either in do. we projecting, half, would I they're to you events I because be track first what we're it we think answer to pretty occurrence. in have to we're much happened as so good likely what and the And QX nearing a right occurred not here can talk fairly confident also with give And those you visibility, but today good or very have about hoping to of to visibility have renew I sit were on we what just because to

And to about that X a team have to say visibility we as good that year. the the real through plug quarters XX% So manages our feel of I'll this just rate. very good a that.

some from a customers an customer we circumstances executing through get dealing the quite that to as has amazing well. COVID today time Our done both lot unique they're with success team job, renewal were through of a standpoint, when

Operator

Roderick question Our Stifel. Tom next with from comes

Maxwell Osnowitz

to Or if over launch a major for the combined the changes in there for of platform, chief with going transition platform? Tom. the thinking on just BXB want just that there's additions new any all marketing like if it's about new go-to-market It's that? of I of to SaaS start to And Max the be Has the with Osnowitz officer. new mostly new current customers to customers? been

Andres Reiner

organization. I in you Max, But on that XXXX. the She great an doing tell began She with great that question. the would you tell organization, Klier's a from I the we job. is Katrina has something working launch platform would helped joined launch.

for customers, migrate. platform, next-generation all So this and they required they leverage want to

capabilities and start lot What is they composable the So across that depth of get of the customers built capabilities into it's be the these we platform. smaller their excited leverage expand to platform allows to about and able maturity. now a we're because to

our but cloud we're I excited So more embed really the we more in tell you, this would as about the last migrated capability capabilities, to the of evolution platform. years to X continue is an cloud and to

think how I and of any so. the leverage best-in-class power in in very excited planet, any the the we're capabilities company platform the of So AI size now about

Maxwell Osnowitz

And at loose XX those the last target variant rest and look a to some end with hesitancy Or as we there a around you Are spending, uncertainty into line Got approach then before target even to the back going beginning about than spending opening increasing be with still of the plans of with quarter, than of year expected. in a tailored Delta little the -- economies you're and maybe year. next of year? the maybe I the up? mentioned the said more little is already And -- at a sooner more XX of quota-carrying think thinking helpful. reps it. you the That's

Andres Reiner

the the And about see in think making tell is, would I as bullish from we BXB. end What talked strength question, you to perspective the very Max. is a BXB And continuing now, go-to-market opportunity great as pipeline, would a about we're you side. our funnel. of That's investment most the we're on top I imagine, in of

So us as confidence continue set product end that care personnel the we're it demand and funnel, really to seeing the gives our expand top up of coming XXXX. to to

So I the tell caution to the on get we're you, from from say big you I would the based expect we're the upside back. half look, and transactions travel side, pressure half. not travel We would not should that bookings. And and to that more the see there. to on that see, were I not the big variant we in very -- expecting back little hold XX-plus sales year. say going We volume back in would us Delta a be were are would the but would very not little impact from a this expecting in

Operator

comes question with Stan Stanley. next Our Morgan Zlotsky from

Stan Zlotsky

first from end. my Maybe one

fairly So typically a and prospects, of buy for of months smaller implementation organization you put I and demand company and they think them a can it an spikes. right, And ahead of a about when mean, a customers one. if couple if you implementation, a context it's customers, a customer. approach, kind for well smaller of extensive potential longer if right, bigger take usually in it's

to the vaccination So for if half more world transact decide customers starts this you is little time now to normalize prospects? rates improve, think for the we those that back think year. bit the starts these When do a that, of to hey, in

Andres Reiner

great a that's Stan. question, So

see industry, they travel pick once of XXXX. say, they at in it's me, good more To light how start see saw Hawaiian at to XX%, start with airline now a open see with recently. you, I look, with they XX% least example would America. we've up, the I we up, demand tell think, to in to their leisure Breeze, seen it United, and North And least

invest, what we that's I in to North saw think that's America. when they and start

is the a perspective, from in that activity sales a Absolutely, would a in lot back terms half? -- there's of you, potential of So in travel. -- is. from there I there tell

the move And don't not is think anybody to decide been, when Europe, forward. been has me the more are market. and in want right looking to obviously, that they that a mostly expect I They has would at half. up tell lot airlines start of back to Asia to active. the that, seeing They're stability And opportunities, So impacted you we in active. but now, I opening Asia are that

Stan Zlotsky

expectation Or Got for return billings where QXs on mechanical there in like you it. pre-COVID to is seasonality And kind there the bigger a then you of of something it have to QX that's just uptick, that? have? to just is used driving more

Stefan Schulz

Yes.

So yes, Stan, you're QX billing strong mean, us. exactly typically right. for a quarter seasonally, is I

We And a year where We see the COVID think But timing so had in impact might we what took it, or had those call of expect billings that occur. like. an that did have more anomalies importantly, we place last, X some far some to see things. look less I on that.

we to to year. And so return normalcy of your exit point, this we more a do see as

Operator

Bennett with Chad Craig-Hallum. Our comes next from question

Chad Bennett

BXB how give or outlook. kind look expect as versus we're through recurring a we on travel you when to year just get back So year-end or business standpoint, much either the could you're giving the revenue it's here and halfway Andres, do Whether from from a year a us the subscription you of roughly Stefan sense full of basis?

Stefan Schulz

pretty feel haven't COVID obviously, flow BXB has step ourselves be. a being where When to at The we ahead way what compared to broken would travel. has we would positioned that the side. BXB had go of some we're where be versus going to how be. wood has launch executed seeing look this behind the in look has travel the the States I this far say, at very been the where off exact split. going platform, half And up we where right and I on we've back knowing much the that right as really world. will about, of some half metric so pretty only this I our since mean, we're wins going is, of strength most said, year. our we your relative I point, half, to arrow was perspective. tell half across We're the we Chad, about we've the we've to well Yes. talked it as last of But clearly, will second I set of shifted out from we've we're on the regions and the more executing different other we half, on be to occurred. But I to looked back I to sales and all metrics, thought mean, and said, free at that a say most we're cash driven of the first first to lot all to happens for seen side. marketing second mean, And heels the talked the of I much Andres the be knowing United mean, further had I wanted we're put year, that we're what think, metrics. as how we We that the XX-XX towards we in of growth I Andres to more BXB that's that this of from good coming feel that's metric. BXB. I very year how we you about

Chad Bennett

standpoint, expect to from as we much even the December RPO to June as then RPO, where RPO an we maybe in June CRPO where days, quarter Stefan, ball September a overall just sequentially these the quarter? should improve have and from crystal from And ended quarter Right. quarter we ended

Stefan Schulz

that. would say probably little would give you general a definitely of year, will should you of a say more I I end -- this by the metric. I see Yes.

total. a in yes, the quarter. it the on stronger nice a I and the seeing We again and been on saw the quarter both to short-term grew So grow little starting first trend in in from mean, RPO second we've

We expect the rest expect of to that year. the throughout continue flattish, up. the by to -- trend end little the but a of year, we QX maybe be maybe it

Operator

comes from with Our JPMorgan. Jackson next question Ader

Jackson Ader

Are just an growth I the basis grow travel all that BXB is vast Great. you to than just expecting But the following it's expected to subscription basis? or I'm appreciate rather Stefan, on of to on XXXX? in up a to revenue split. travel. from at curious, whether -- things, ARR come be majority

Stefan Schulz

at if say to I to grow. not would would it I expect no. were that way, we No, look it

Jackson Ader

at Okay. right. have that kind the of our And the separate? on -- migrations variant then migrations how in impact Or Perfect. all? of were And any kind quarter? is Delta All does

Stefan Schulz

end Yes. a that I about little an a were thinking opportunities to We say of we third in-flight And for quarter, see some it towards the beginning as area would this that quarter expect occur in year, we number full actually, the of we quarter. year. fourth be for relates that's we the the the to fourth those. what of may behind have of actually

see to And version would reasons as think, an just fruition. for I attention migrate the I So a do the expect our slightly the of customers to on-prem very And lot metric, say platform grabber we But been, also take the announcement outlined. our we're just coming look much we I I made. behind solutions. for primarily in has you advantage those to that would platform see more now that this, say they we customers absolutely just of of recent on did

Jackson Ader

Right.

Okay.

should platform should So be? that be accelerator, an the

Stefan Schulz

Yes, Absolutely. absolutely.

Operator

KeyBanc Jason question Capital final from Markets. comes with Celino Our

Devin Au

X actually added? on in strength? any the you're quarter. the provide strength seeing customers I can is verticals to on you particular you've what of Jason. details that This these color you're wanted you and double-click Devin can on sort on size profile just BXB share second that that seeing And for of Any

Andres Reiner

Yes.

So we these I markets we terms talked of high in But examples those like of organizations. to larger about in multibillion markets. or we're software script LafargeHolcim, and traditional the I in talked of a energy, BXB think vary well say, continuing example. from revenue another to size size, as And Eneco billion I would in manufacturing, it $X overall, from revenue. some spreads under strength about lot would see say, in tech, in

Devin Au

you Any if just you can on details follow-up. quick to ask last of, sort sort Great. That's share just I on could helpful. any progress And partnership a I with of United your want quarter? guess, that? incremental share then

Andres Reiner

Yes. progressing I well. very would say it's

the we're And think strengthen. think to I on continued much I relationship track. very has

our well. sides. progressing think think I say, very it's really think I on doing team a they're are both So partnership overall, And well very job. incredible I on pleased, a And And phenomenal things implementation. I would is the

Operator

we for end to like the would session. Thank Overdeput you. and the Ladies call gentlemen, I reached the turn of have back question-and-answer to closing remarks.

Belinda Overdeput

Thank you at call. to this look for We conferences and today's listening forward speaking quarter. to you with events

on August conference attending Oppenheimer September August on XX. Technology Software We XX, Jefferies and Leadership Virtual Forum the on the conference and the Annual XX, will Internet, KeyBanc Communications be Technology,

following you If goodbye. and contact call, Thank at today's you, questions please have ir@pros.com. us any

Operator

disconnect your a conference, and at today's you this for you concludes your Thank This wonderful time. evening. lines and may participation, have

PROS (PRO) 7 Aug 212021 Q2 Earnings call transcript