PRO - Earnings call transcript Q4 2021

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Operator

Greetings. Welcome to the PROS Holding Fourth Quarter and Full Year 2021 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. to of conference Investor like Belinda over now Director Overdeput, Relations. would turn call the to I Please go ahead.

Belinda Overdeput

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

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

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

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

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

Andres Reiner

joining you, Good thank everyone, Belinda. for on you afternoon, call. us today's and Thank

and despite subscription ARR we've As of for year-over-year I X% year-over-year. our increased the revenue business and communities. to XXXX, accomplished I'm our our on what X% reflect on disruptions thankful team by COVID

the more XX the customers in we years our of continued the than XXXX, we market. gross innovation platform. help use from from XX%. I pre-COVID year-over-year. year for retention the million PROS more heritage joined we return greater believe was believe us. to confident we measurable and that Value today, our we ROI I'm for than customers have deliver revenue getting from PROS that XXX years proud revenue improvements I'm over passion share innovation been cash $XX pleased rate because our also that to same I'm that team best Our assessment now and of platform market. participation passion than we for our EveryMundo significantly anyone faster. have flow free over X% the the now. the success from value our to of continuously as completed in In for share levels We've improvement of time average fastest to customer and on with showed They innovating family. digital generated five we're selling launch XX years of with the the Platform. Also and innovation,

prescriptive new in XXXX. an value to Our in us improvement packages drive activation time XX% helped

for and for have accolades company IDC BXB software, position validated and XX market CPQ analysts the optimization GX leadership with the also pricing price positions industry our Gartner MarketScape for and management. fact, In XXXX, leadership awards in in Quadrant including Magic

revenue Braun solution quickly a Management B. Braun drive rates solution. incredible of and the Medical, to PROS win dynamics, we this leading So customers to pharmaceutical innovations. new and respond medical Optimization proud of improve welcome market technology higher recognition and B. equips profitability. Price of manufacturer our and Platform. In This Smart products QX, adapting changing selected our

success customer QX. key Smart of PROS. Our are will solution also Rockwool rapid PROS a products CPQ why use of proven B. customer streamline to quotes. quickly reasons selected wool Rockwool, to in stone selected Braun selling and and process respond our manufacturer record time-to-value their

support welcome ability one look of the Smart chose among and customer PROS. to Platform to PROS was solution existing of PROS reasons direct family, customers to since and digital many and Braun We're thrilled in The Management B. the Standard, with partnering migrate Rockwool the a QX. others and XXXX, also PROS our sales first one Our inspiring to forward chose is Rockwool and to American Price to migrate Optimization cloud. customers, BXB to Clariant, to them.

and their businesses. Clariant with to long-term partnerships forward continuing look our to of drive proud American Standard and for We’re value

other are NDC As points XX offline, direct the percentage customer channels of the bookings to digital digital industry, the strengthen airlines of through while anticipating This businesses and loyalty. in direct three and pandemic, that direct around bookings through mind the a world engagement connect prioritizing the in initiatives by airline front increasingly decline. grow channels result build where years, is GDS, and are next

create, further has the connect marketing airlines digital any PROS control is interest creation Dynamic recovery Offers order personalization well-positioned full help one to management. offers these extremely retail, solutions, and With PROS and deliver engine takes offer Additionally, PROS personalized seat, over their experience web, channel. Dynamic in PROS Dynamic now, fare, phase. giving from solution our adding Digital through on tripled offer and airlines ancillary the Retail mobile, NDC airlines airline and airlines internet between pre-COVID price, to objectives. Offers, direct empowers customer step nearly digital by user the distribute Offers or booking interface, to PROS and offer

channels. expanded fuel revenue partnerships QX, customers Air through growth their Europa and like Air with Gulf example, digital their us in existing to For

provides EveryMundo’s among acquisition digital meaningful the and end-to-end in shopping greater optimize webpages, dynamic interactions QX, engagement These others, journey traffic, improve offer these solutions through and the to of control website rates. our higher direct vision ad with selling experience, Our solutions user brands marketing customer offer selected now shopping accelerates experience. PROS phase. research conversion booking every visualization, over increase more help solutions to Vueling, customer and Baltic brands campaigns. and drive In and digital drive more Air

transition amazing three Before XXXX comment the further drive pillars flattened of recent our will forward of market extend I Operating will speed our drive with removal success. we’re better us leadership on to our more our changes change our the invest business, and position. empowers role. strategy. teams closely continuing our In to these organizational key I’m to confident long-term Chief the for structure growth, into look our in around position XXXX, working to consistent teams and to greater This strategy, want Officer I I to execution more organizational

driving of first the The is adoption market PROS Platform.

adoption and sales, increasing market by accelerating marketing, investments. We’re our delivery

customers’ sharing and We’re going in bolder be amazing our telling success. to story our

Additionally, quota-carrying delivery our personnel up support and we’re to our growth. teams ramping expanding

of Second, the XXX adoption to Microsoft leveraging partnerships We seamlessly accelerate PROS Microsoft and Dynamics the recently of to expansion mass Platform. our accelerate partnership announced our growth. integrated

We are also to opportunity. footprint leveraging integrators, our our our further EY, systems on ecosystem capitalize growth like increase and of global

passion are key pre-COVID and retention pillar these final Outperform on high, reached data we’ll rates delivering experience Our an significantly featured for year. back to value XXXX, our to success. gross our All to revenue NPS last XX industry is the In points team’s strategic the customer exceptional build all-time levels. testament XXXX, our average, our our during and speakers above conference. customer a our incredible customers. improved scores We and efforts incredible of customer strength annual In our partnerships an

continue with We’re allow also expansion even and We help to journeys enter prescriptive our more to get faster with our customers platform. time-to-value. use our We’ll expanding delivery cases this best-in-class ROI their packages well-positioned accelerate our to year activate customers to our growth. accelerate

front strong the and strategy, have us. to people, in opportunity of capture right We the platform market

our and cover support PROS to for thank PROS and shareholders like a PROS. dedication to I’d for driving our close, financial Stefan and of to the partners, performance team success while our to passion you turn adoption to Thank and great I place work. over to I’d platform, your With the broad customers, that, to like global As customer market call outlook. continued of their making

Stefan Schulz

I afternoon, EveryMundo the to good and first like Andres family. PROS would Thanks everyone. to welcome

of to innovative We are as our excited and have add a platform. solutions part their team to our them to

the I year. results, landed COVID in We guidance beginning guidance and pulled early in significantly XXXX XXXX. our and by report the reinstated we happy beat We within guidance business. the XXXX, overall provided impacted comment annual the our am were results I to of covering Before either to on towards annual our in initial want ranges XXXX, but that or

with the to Looking back, gross flow, team and followed work customers variant another to and thought, free subscription revenue lasted did am our we the our I proud gross COVID all I the impact very our our as deliver longer pleased of variant. especially one also retention. estimates. am support than cash to improvements of margin,

results, Now million EveryMundo. year $XX moving X% up the XX% million, QX the revenue Total in and year-over-year in was full to million year-over-year exceeding year, revenue which for for $XXX our was Subscription up year-over-year. of include X% month and up do QX and $XX one guidance. year-over-year and $XXX.X million, relatively full flat

XXXX. as retention XX% compared revenue significant a in gross rate above approximately Our XX%, to improvement was

As which we customer not rates. does retention revenue can revenue customers bookings real a revenue not from mask net reminder, Gross gross existing disclose retention rates include retention churn.

improved solutions. In the demonstrate and again XX%. non-GAAP QX, rates subscription were sequentially while full in retention gross value to our our see continue year subscription were revenue margins margins gross Our non-GAAP customers our XX%, our

I’m cloud efforts innovations also margins their see the well year. for that operations XXXX. team to us resulting proud expanded drive these to efficiencies, greater our of our results throughout continued which in for within positions to We drive

the this pleased on to continued EBITDA adjusted progress quarter. are make throughout with and our adjusted year EBITDA performance We

$X.X was for full quarter adjusted Our guidance. year, loss $XX.X the million the beating EBITDA during fourth million and

EBITDA Our year-over-year. full adjusted improved year XX%

guidance per was which loss range. share, Our per the beat share also $X.XX

XX% XX% in with XX billings Our expectations. months, which trailing QX increased calculated line for was year-over-year our the and

subscription million ARR and total of was Our the included $XXX.X year constant end of $XXX.X million in at currency ARR. the

good total expected, is our is booking becoming the as of Our we momentum. component indicator ARR subscription of predominant and ARR it believe we our a leading

cash remaining personnel adding The was over be with improvement extended million, our in We burn and this including the operating rates year investments the of to including a cash disclosure year year $XX.X million $XX.X year. of driven flow and concessions. XX. Free to was million free part our year COVID investment of efficiencies. recovered also deferrals EveryMundo. acquire with year-end XXXX, with payment a of target as and ended the our quota-carrying We we exited all will QX after we total combination In going a for last over-achieved cash along the EveryMundo, XXXX retention burn flow improved last customer customer ARR million, $XXX.X metric improvement our significant by We over $X.X full bringing forward.

We figure expecting although be by total in first increase XXXX our the again quota-carrying expect we we and to the the to upper quota-carrying end are personnel believe XX’s personnel the year, will slightly quarter. drop in the in of

guidance, Before our wanted what I we’re seeing cover provide business I insights in to today. into

the our that the customers and in years, COVID COVID challenge impacted be As will are of earlier, has all industries business XXXX, I we while prospects mentioned are in still hit for us likely considering last a investments. hardest signs two for and seeing

our have Together, as we to through believe we more progress we changes improve which us growth flattened will our two consistent enable Additionally, these will organization, go-to-market XXXX. drive execution. revenue

XXXX. we’ve seen stronger what result, growth XXXX in guiding are ARR to a we rates As and from XXXX in

to with million, range So $XXX represent increase the ARR rates and the a of of here over subscription be the which $XXX with expect ranges. is a million, to subscription $XXX reflecting to of would million increase for of Total million total year. to last Also, $XXX growth last we $XXX the X% our rate increase, mid-point range to million, $XXX growth $XXX ARR XX% revenue X% that, the million, and over which reflecting year, be would revenue of $XXX year-over-year. to in a be guidance XXXX, a XX% within stated

$XX of the loss range and expecting million flow be essentially be range to in to adjusted of down year-over-year. free EBITDA are million burn slightly flat to in to $XX $XX We $XX million million, to the cash

each quarter We of expect XXXX. to gradually improve course both the over metrics

our remarks, Andres to higher in of delivery level in and also accelerate mentioned our a we investing As all of and people. for his teams spend are marketing, sales, expect our growth, we

in for full Our reach the our team to is everyone their to compete and essential our ensure keep must can environment best We creating potential. success. brightest our on while a focused market driving current customers, where place we value

Turning XXXX. of the first quarter to

be the to revenue range $XX.X in We representing XX% of to expect million, growth. subscription $XX million year-over-year

in $XX million range of total representing $XX be to year-over-year QX the growth. million, X% expect We to revenue

between XX%, QX QX continued outstanding. $X.XX and $XX and support. on their EBITDA loss using $X.XX would adjusted per million of based estimated amazing expect thank million. We for and like an we shares of of tax between million anticipate per loss In share, $XX customers share rate XX.X I an our closing, and to non-GAAP employees And estimated non-GAAP passion

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

Operator

from with this At a conducting you. your question time, we Instructions] Stifel. first be Roderick Please question-and-answer question. Thank [Operator Our proceed comes will session. Tom with

Tom Roderick

first that so it, is, I'm some free more and, the the front. of the of maybe what tale question just help relative would course, here you to I'm of Thank chime to but way XXXX. signs talking a Good Great. Stefan have you of of been certainly with the to, two course, feel you've didn't if And you afternoon. worlds that you'd means but it the variance the out take more taking in constructed certainly like tough, love with bit airlines XXXX. for, tale been for two recently sort some for here guidance coming on to And about hit Andres, headwinds. They've saw Thank -- of here. of little to going ask questions you. as world detail my what

business? as may look So, long be construct of see a think the to of subscription a how airlines. would for airlines XX% kind you here you hear guidance on little the when do how about headwind growth versus occurring, the love ARR, relative at continue you growth bit, positioning to for that BXB the extent to And you that

Andres Reiner

question. That's a great

year, you to still predominantly expectation is BXB of growth we say, approximately contribute year. but be the BXB. expect the the expect they to I can but try driving industry, by We this As do will growth XXXX the is as travel end XX% get the travel we on to would the more, predominantly numbers head into start to continue think of

previous So, we of seeing rates our and travel yet. growth we're not guidance signs taking to are but signs, investment into encouraging back the coming

Tom Roderick

Fair enough. That's …

Stefan Schulz

add. would I think I

Tom Roderick

ahead. Go

Andres Reiner

Yeah.

Stefan Schulz

bookings the you just we'll our start throughout the add, see I SaaS think start to year in throughout was have you'll year. go I that throughout to building rates impacting going that as that year, revenue to the we'll as the know, model, Tom, we then will the layer, growth see and

So, numbers the should in our guidance. in we rates that access are growth with be annual provided exiting that of we

Tom Roderick

could those in on making more Wonderful. to you bit bit you're And positive pivoting that energy perhaps conversation and have chain investments face. success. all in of supply some kind dive seems those question, those relative on the your and challenges because little and about more the heard talking listening to focusing some BXB little And some here, challenges, chemicals but nice the a industries salesforce had challenges a We of -- to drive pretty we've some on successes. optimistic sub-verticals perhaps

are sort of making perhaps it's to lifting digital some and that of issues. but trend in term longer some love some yeah, supply hear industries the it, the your transformation chain with e-commerce, and faced of of So, industrials the underneath cyclical underpinning a decisions have really, catalyst customers line that's the BXB that of challenges, is fact, I'd outweighing

Andres Reiner

Tom. That's Yeah. question, great a

are or chain market, inflation, think mean, I think think would dynamic BXB they look, be or supply price this must drive changes a I ability age -- crucial, a price would disruption, business. would I the twice have, can historically win day change mean, survive. it year. we're maybe look, I company I this greatly margins may not they say, to quickly about you in if today in and impacted their

I target able much whether I prepare medical, and our we're quickly across remarks. technology be get be in distribution, demand crucial. So, talk for able industries, ability to to need speed. our BXB like they deploy PROS the be is chemical, that pretty And my seeing it value manufacturing, Platform to to think And did

make been both value and we've the pricing, time in drive X% a my about to remarks the that that talked innovation position, I in have we lot returns think faster ROI -- measure made of and I generate. solutions in over tangible that CPQ prepare a to I be think, and to there's customers. that value value the measured our revenue that generated around we we in uplift to leadership our able hundred of to mean, I or

position I think capitalize very strong we're opportunity. to in a on this

Tom Roderick

you contribute really $XX press gave ARR I that right a million that just was Wonderful. And million, of last in your if year that prior passed. if month relative ago maybe about where the for I trading in paid one, think that about don't you seemingly is One multiple quick EveryMundo release kind mind. noted to $XX at. around you stock own ARR, the to the just expected

that growing similar. perhaps So suggests they're somewhat

more growth makes EveryMundo sense? As we next than the should for the we're of the the rate seeing for what ARR you growth constructed kind rate contributing is average expect the total organic, guidance or that than is loosely projected typical ARR if any for year, that

Stefan Schulz

Yeah.

for acquired as momentum, of well. PROS EveryMundo, And Tom, ARR part we we're them rate same them of that So, XX%. keep expecting little to of a kind was the when growth north a as

Tom Roderick

back Thank in Very jump I'll you. helpful. queue.

Andres Reiner

Tom. you, Thank

Operator

comes Our Please your Berg next Company. with question. Needham from with & Scott question proceed

Scott Berg

well. questions with the one three want my congrats guess, taking for your I year to on of start Andres Andres, Hi, pillars. Stefan. and and I off, Thanks finishing

dive Microsoft a surprise expand to you're the going to on now, that and them. more about me it that we a They've before, leveraging something correct, that of didn't completely But You partnerships focused from bit yours this for partnership. expect what kind for wanted to several like looking angle it's with years in than partner of really if talked so been we've go-to-market new seen at. as if should expanded be we another on what but relationship? little more should or there's understand that's sounds It maybe relationship wanted

Andres Reiner

and look, go-to-market a as Scott, partner approach that is you've think I really chapter more been partnership next very formalizing known, Yeah. always Microsoft alignment. this strong of we've said our has

great market. lot been we the a I on the jointly continuing by now think innovations from innovation capitalize sales market our that alignment, there's driven of both platforms. see opportunity in a we've a drive joint go-to-market both to to a from to and from the But opportunity really marketing, driving joint

and, would I So, with drive part tell on working the you, alignment said Microsoft. we're have partnership surround would we're collaborating top results. tell to cloud as tell launch go-to-market to, excited we're And manufacturing I on, you opportunity formal every about commitment much to with I pretty we well. you top of the being success would

Scott Berg

helpful. little Very a wanted bit rep sales more increases noted ask your about to And year. this I it. Got then, were that

think kind XX% XXXX the that of year, about is. I to XX your where more your like the depending AR back how industry to starting going XXXX. land, way to we you where growth on to of teens next think the pretty should sounds probably rate versus year Minnesota high to rebound me growth getting My of kind level? rate growth the expect upper it's the XX% that Is to math that last But in that relative the company, you about XX% tells number number a and aggressive was XXs. rate,

Andres Reiner

it half especially at BXB make really year to see the for be we side. see for will personnel The back about the in And you rebound. also Yeah. we especially next back the year. if think the for a of the opportunities And will that see continued look contributing back. and is headcount this travel come year, both growth on lot starting we back, hires But of way the quota-carrying to half,

expectation. our So, definitely that's

Scott Berg

all have the That's I you. Congrats at again. moment. Great. Thank

Andres Reiner

Thank you.

Stefan Schulz

Thank you.

Operator

with Ader JP Jackson from proceed with your question. Please comes question Morgan. next Our

Jackson Ader

Great. want preliminary I when today business November. stance our down little the feeling on conservative kind versus environment you about the Thanks that us bit evening least gave at is guys. like travel nail at Good Stefan, questions. look a for than in how then? maybe investor a your into taking just to XXXX Are event of was it -- more you’re

Stefan Schulz

No, I conservative. think more don't it's

from I today. the think, we to did investor go through a lot changes event of

serious recovering. more good thinking, time a travel news think -- continuing starting threat even I we been of is and there's but the the that really Omicron there's were variant, throughout signs to -- that, than but what more at became more show that industry

Just which around again, recently there's opening been in fairly Australia some news up is significant.

are to East airlines looking up in business, Far are part as in that of And and our that's areas other of know, big you carriers open as Some our part world. a well. that the

happen really So, news that for seeing us. is good

So, coming competence that. that some additional there's it line us opportunities down gives the for

all the Andres do commented expecting to so travel come more earlier, results as XXXX but than able XXXX we was are not in our to our to expecting travel XXXX. to contribute So, business and revenue the in back, travel way business we're

Jackson Ader

Gotcha.

point coming a contract back. to upside throughout of just renegotiate of needing And the deal just was be deals on a you in of also then be XXXX, customers. of And XXXX some follow-up, travel on mentioned recovery. you'd to part travel the think quick capture Andres, that Okay. good travel with on, I and more and that partner your kind really able mileage that the just hopefully

into mileage curious, of factored feet this is recovery So, or new for outlook I'm just what XXXX? type

Andres Reiner

Yeah.

renegotiated It be early tell. to the not recovery right based on side the for too environment, factoring contracts. would predict that would current us huge So, I now, the travel we're from on a

XX% we're factor as now, too to numbers, premature said, I it'd XXXX and be at You of roughly XX%, that in. right

Stefan Schulz

Yeah.

exactly opportunities. we're side I new opportunities the think, terms of provided recovery of in concessions more around to the compliment were really seeing the opportunities. on new XXXX. in what Not lot It's what Andres a that are travel some is of of saying,

Jackson Ader

Okay. All makes you. right. sense. That Thank

Andres Reiner

Thank you.

Operator

question with Please Markets. proceed Our next from with Chokshi Nehal Northland Capital comes your question.

Nehal Chokshi

you. Thank Yeah.

can may us you have the for revenue XXXX calendar and give on covered basis? travel but already BXB between breakdown a this, billings and You

Stefan Schulz

we provided go into that that because historically number yeah, Nehal, mainly have not it. So, are factors there split, a of

recall Investor we Day purchased customers into our of talking, might had as we heard you've is travel play. may you industry, United when solution United on Outperform, And had You they it's one as when our of BXB panel. in they're think a and were a the probably have that they putting

And the reasons, it all earlier. really business tell ARR haven't our But drag the we is about growth out. been on those for can rate Jackson so, a talking actually reasons were we for our for with you what we all that, broken has travel

to our yeah, be seeing things is that that new a in part we're that going opportunities a be some optimizer thinking change that's from will and growth. -- And stemming ... actually on to we're a our now I'm like of XXXX retail So, the of drawing travel lot and going blank

Andres Reiner

Digital retail.

Stefan Schulz

Digital retail dynamic product you. opportunities some as see lines our employees some those well on office. as We Thank and [ph]. of

Nehal Chokshi

Okay. Great. Thanks.

is in includes EveryMundo that -- subscription as the question growth is so Another is i.e. ARR XX% acquisition. that,

calendar that $XX You just going in ARR XXXX said the million XX%.

calendar growth, and X% exclude XXXX, which talking were mid-teen was to organic talking I believe you're about the subscription the that, you EveryMundo outperform prior growth subscription if So event, ARR for I about ARR acquisition. at think I a

to that has if then And perspective? change is A, B, so, correct? what changed that So,

Stefan Schulz

glad Yeah. No, question were that's back thing I good from has -- changed Outperform. I'm think because, you asked saying not we a in what that question. at

the on both end one side off consistent total are and that on includes In that well with with XXXX talking EveryMundo. Our about we're as as other XXXX base another. of includes words, subscription the on EveryMundo ARR side metrics, the base the we

less actually about can being or total growth you subscription in both rate organic. for the So, more think

Nehal Chokshi

it. Got

were So, basically Outperform about was almost ARR, already the when that closed. your were EveryMundo you factoring you acquisition, in at talking

Stefan Schulz

is the no. included the for no, as EveryMundo in ARR, XXXX acquisition it's for No, number ARR XXXX. included much The metric as in

a in that EveryMundo our getting not if base into we're basically adding So, of sense. benefit makes number, business

Nehal Chokshi

Yeah. I believe understand. I Okay.

you. Thank Okay.

Andres Reiner

you. Thank

Operator

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

Chad Bennett

for taking Thanks Great. my questions.

just for So, Stefan, maybe one first.

more we and gross subscription some year, as throughout the you think that about steady the specifically gross a at we Just leverage look year. ability margin, there? saw uptick to this XXXX How heading margins, should into show

Stefan Schulz

Yeah.

continued a So, think Maybe you'll Chad, in to to saw that I but an continue XXXX, not XXXX. be expect certainly what annual perspective, we forward. there's better growth do we think go in And much see in than metric leverage that as us going as we I in metric that number. I much to from as saw see on line

Chad Bennett

And then, would you …

Andres Reiner

those the the been -- line. that I and I will There's of would on up drive benefits gross one lot seeing add, add around of adoption, that. there's been efficiencies, on you're a needs show thing innovation we've done margin our to platform

Chad Bennett

you ahead And just growth we for but based see. growth, throughout accelerates the we growth RPO growth was assume, Thank a you. on don't of and year. Got ahead and of kind expected those it. all Stefan, of the year to obviously billings kind want normal bookings bit little seasonality I to year which seasonality and last RPO, billings throughout that of expect subscription know is subscription to ARR or odd, metrics, normal then, but guide should what be to I

Stefan Schulz

volatile to we Yeah. what It be saw all your should in point. less XXXX,

probably similar rate, looking think I what it ARR. growth a is on you're billings year, calculated you think very seeing as you're call for mid-teens at next subscription about

point, it will a the through So, as number you can think to grows And be year. of think it lines. I along that we progress those your

Chad Bennett

real business. think we business was that masked last hop this about just Andres, should rate about by in then, that then but travel do continued And off. year, it. year? growth this Got the And Thanks. of year, Obviously, think and Okay. on growth there business the I'll BXB for how growth acceleration the quick you rate business the that

Andres Reiner

expecting things growth, we're to and growth new, on one that being logo we're a we Based the great a our say -- of tell XX% as I confidence lot That's see we're of to that's accelerate No, last like year seeing, in business very guide that what that. from that wins. net year. Chad. that on would logo on new net at about inspires AR implies to wins which good comment this good is that on we we our of I is And bookings Yeah. what look the would you providing, based XX% new net I see. right? did question, to continue it feel

Chad Bennett

Thank That's great you much. color.

Andres Reiner

Yeah.

Operator

next Celino your Please Our proceed question. KeyBanc from Markets. question Jason comes Capital with with

Devin Au

on Hi. for really This addition have for as Seems looking Devin the have I to is research, strong I big today. Thanks foothold is Maybe like Jason good EveryMundo. of a really doing first in within -- a up was including like two just airlines, one the Pros. questions. And U.S. some I websites, on picking they at actually seems three the

have. plants kind customer So, they just are what this leverage base moving that forward, to robust airlines wondering, PROS

Andres Reiner

excited Yeah. Devin, and very EveryMundo question. platform. great about We're marketing their

reasons, as list. one, mentioned, they you customer have two For an incredible

offers having digital shopping data about but only helping and we -- the more strategic. very drive and to always selling talked have and XX% market access optimizing shopping their demand shopping overlap, motion data brands to We every is access importantly, to channels and

that on And by shopping leveraging shopping science have XX%. data can also data around seen done our XX% improve we've of bit forecasts quite to demand team a work data. We

have, see improve the in forecasting demand helping our they opportunity data we So, capabilities.

and BXB drive for the beyond start to on a industry, to channels, also and opportunity to their digital demand companies the BXB both We giving opportunities see driving their offer to C model. a digital marketing BXB travel solutions

So, forward continuing team incredible pretty coinnovate to to the them. about with and acquisition, excited looking

Devin Au

exciting. that's definitely maybe definitely Airlines, no, Yeah, just quick I Great. one. And BXB. know then for reference one United win good

BXB curious Just pipeline travel of looking for your particularly, shaping similar implement how might also that up be offerings. customers, sort to

Andres Reiner

that you in good I front. would we we're tell see that opportunities --

feel We that to forward. continue pretty moving good see we and about them, just

Devin Au

Great. Thanks color. the for

Devin Au

Yeah.

Operator

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

Belinda Overdeput

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

Telecom the Conference We Stanley will attending Xth. Technology, Morgan March on and Media, be

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

PROS (PRO) 11 Feb 222021 Q4 Earnings call transcript