PRO - Earnings call transcript Q1 2024

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Operator

Greetings. Welcome to the PROS Holdings First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to Belinda Overdeput, Head of Investor Relations. Please go ahead.

Belinda Overdeput

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

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

available include also the Schulz, Chief and With forward-looking Executive President by some about which me are remarks today's transcript, Financial prepared Actual on of website Officer. the projections from will in forecast. materially is limitation, business be official commentary Please such once and and questions differ including, note participant Stefan those our and statements, today our call Officer; prospects that without Chief our and includes on our guidance. future strategy, and could replaced statements will market available. results opportunities Reiner, Our financial Andres

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

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

Andres Reiner

land and XX adoption groundbreaking of life we continue company. and growth strategy. the win. integrates plug-in goal fast, QX, sales. innovations our environment, to is of platforms bring our in market of Empowering grew end partnership threats. adjusted good high customers to of offers PROS sellers seamlessly to SmartCPQ, you, insights XXX% response for sales improvement Microsoft Microsoft. AI market to Copilot Microsoft revenue [indiscernible] of with launched We apps that us by expand real to efficiency. platform on our of In a research PROS Copilot our Process that delivered XX%, power deliver place the go near thank ranges Thank Core Rule sales today's subscription and while and Copilot XX% afternoon, to the fuel into revenue the XX% EBITDA you by officially offers continued for harnessing guidance from strategy Belinda, vendor, all PROS shows uniquely call. for year-over-year, XXXX, speed for sales XX% Copilot insights And customers to personalized first PROS to with The reflecting on a our first. a XXXX and everyone, plug-in PowerQuo e-mail today's sales, In on directly for Microsoft the data and focus to to into in to We premium drive a metrics. integrate vendor the CRM exceeding delivering across joining drive or from XXX and strong total across PROS the start AI-powered to being

the PROS our to and Our QX, Group, the smart XXX price across retail to exciting pricing decision retail CPQ in fueling their experience. activate to and across to tier made power their Smart real growth quote more customer and profitable to chose the with Les leader chose dynamic time estate leading platform. platform few spaces distributor a evidenced activate power global accelerate a In to ECE I than Schwab the real-time share adopt will parts are customers. new resonating, innovations starting better ECE industries. strategy. rental offers by to for wins and strategic [indiscernible] Group optimization drive management a management stores automotive wins

channel bringing the PROS activate solution offers market higher growth. QX. direct them India a to selected conversion PROS profitable new passengers and or online fuel offer booking in Air online, to sales seamlessly as We also of drive welcome Air to to personalized into marketing platform their India customer

ancillary their ancillary Gen pricing. largest seating, Based which of dynamic AI-powered one Cargolux sales expanded our to our to PROS has on enable marketing Pro assigned guests is on use AI our estimates, expansions its uplift continue activating only pricing. through use of the around digital campaigns. expected Baltic industries pricing. expanded the their is to by X% that, on new Post capacity so the to growth personalized ancillaries Air at pros solution firm of DAP their PROS optimization. driving initial customizable to driving With for exceptional revenue of see marketing activating the optimal The process advantage revenue the optimized revenue AI focused acquisition techniques that Now for QX. prices. sales some the is to to by to revenue X X% at platform has reinforcement site and present service how overall of already prices use to carrier Hyatt by flag the enhance Hyatt drive tailored AI seen PRO motion. scale expanded innovations across in ancillary pages latest on continue uplift their in men's drive expansion, even through including contributors. more platform aiming customer they market innovations are Air and incredible the omnichannel proud passengers, our this campaigns. our to globe optimization, across in Airlines drive experiences launching the businesses on With increasingly Latvia aware value platform platform to value. around to strategies more PROS of drive more all world dynamic price the through take We're ancillary platform uses to helping learning Cargolux as would power ancillary Baltic, power

customers conference. our from upcoming bringing more new our the hear more at we're about innovations will with and they You directly, to PROS outperform market are AI

expand upon and to of Todd building realize on scaling our enjoying over the excited in welcome welcome Now objectives. global onto will growth working him growth Revenue strategy. Chief experience years recent and our with sales to leadership team Todd will Todd's to closely XX our team, and I'm update. Officer. I'm organizational bringing our amplify lead our McNabb land, Todd We momentum, driving go-to-market PROS organizations.

core innovation our do, progress Lastly, This is of our in recently including environmental, social ownership XXXX future. sustainability governance-related across everything shopping and to we in reflected sustainable published efforts which a culture our our in values topics company's more build highlights action. report, and embodies our care

our new find website. the will section our You Investor report Relations of in

partners outlook. would team support Before thank of to their PROS. I ongoing incredible shareholders for their to to would I our to in our communities. call customers, that, and thank like turn financial With the to our dedication I for performance close, customers passion PROS also or like I'll and Stefan global over and our cover

Stefan Schulz

and made first revenue both subscription set including will result. was during progress afternoon, with as total quarter million, XX% X this Subscription exceeding new during second been Thank outlined cash each EBITDA time, see we good And overall best margins that, of almost adjusted you, $XX.X million, gross of objectives, since the year-over-year, best dive adjusted everyone. I has In the I highs that we the our year ranges. our into second results guidance have and quarter, XXXX It the the Andres, was I'm for for our our pleased and non-GAAP because mentioned year. revenue well XX% financial first we first the EBITDA up $XX.X quarter. year. results up we half flow year-over-year, and with free typically this and as

first gross business. of trailing was in year-over-year Our total XX-month XX% the our seasonality revenue, the XX than our of XX% be better months, billings and in and revenue line first with expectations X% at revenue XX%. increased quarter quarter consistent continued and to our for recurring retention the trailing Calculated

the billings consistent this we to continue of saw trend expect last calculated We to year what year. with be

over in subscription an gross first basis year-over-year. non-GAAP the of XX% margin XXX points Our quarter, was improvement

services a margin year-over-year. delivered in the of improvement quarter, We first also an over points basis gross non-GAAP X,XXX X%

quarter, with a points With we achieving in the on in the to margin quarter, XXX EBITDA gross margin near improvement key of and adjusted significantly making progress gross generated year-over-year. non-GAAP exceeding year-over-year. the non-GAAP $X.X XXX% of first are I'm metrics. increased XX% these improvements, our We an pleased very margin overall guidance first improvement gross in our basis million

have are helping operations focus efficiency profitability. the such continued operational on our all better continue drive through we place, as in to infusing initiatives Our us of AI aspects in

last free with versus year. made our Our I'm increase cash line the of this pleased million, quarter the in was quarter of $X.X flow first burn payments in which very in given last quarter the burn incentive in first first year the year. outcome this in about is with

taxes balance expenses $XX.X the as as typical convertible we As for first million have a perspective, a this and events. of cash exited and us quarter the million existing we pay of $XXX.X with our cash the of plan in half balance payroll month, Later is and to currently higher year initiatives first From our marketing notes because we investments. reminder, have of it to with investments. due, this well sheet and

non-GAAP share share, per per first exceeding also earnings Our quarter $X.XX guidance. was

Now turning to guidance for QX.

$XX XX% quarter $XX.X the range million, growth revenue million We expect in to subscription the to representing of be at second midpoint.

to at to second million in the the million, growth be expect revenue representing midpoint. range quarter $X.X X% We total $XX.X of

This revenue saw outsized anticipating our impacting is points. due be services expected much revenue to rate are services year. the to during second growth We we essentially by percentage last the X flat as XX% as quarter growth total in

between adjusted of quarter $X.X $X million an million second million, $X of year-over-year. expect improvement EBITDA We and

take per this earnings XX%, on month. second diluted selling expecting average quarter $X.XX will shares weighted non-GAAP are anticipate and share share breakeven at per outperform, rate increase or in tax later an non-GAAP Using place based we estimated to an million marketing We outstanding. which a expenses $XX.X of estimated

representing a guidance first services have continued from and growth midpoint of we of total subscription XXXX. growth million to closing, we In in half $XXX.X at to year, be of an XX% $XX $XX support million would global We range revenue the guidance be representing what revenue in our Similar of our in would the improvement of EBITDA. year, are of million, for visibility to revenue customers million, for what million of $XX.X $XXX.X at now of range adjusted midpoint. second last thank and $XXX.X I higher subscription the this million, the total imply of EBITDA our representing level Adjusted year-over-year. our expect million the like to in team full XX% to the the QX to be and saw to $XXX.X to expected range For to we revenue, PROS. in for raising year is revenue the their half

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

Operator

[Operator Needham. question Instructions] The first with will from Berg Scott come

Scott Berg

nice, create Congrats new into of on opportunity plan that and these the the Copilot been to nice being there or the profitability monetize this is more you've actually the a weird there. should for our to an ARPU quarter, wanted we monetize on infused feel to you the now. monetizing AI But decades I platform. technologies announced. embedding only like and functionality steady is Andreas, I of trend year-over-year poster for it want to ask your a in see because about step AI how you kind Is a think functionality differentiation I'd really that customers asking obviously AI about up It's how to question platform? further couple or I to you new knowing you about word it's innovation improvements, ask how

Stefan Schulz

very technology them reps brings bring about we're Microsoft innovation old continuously type scope respond sales possible to the AI that of Yes. this Great will changing Look, work the excited question, in future think best to is sales because in the customers. way I Scott. the and really

these the with So then a the be for the into right respond significant to prospects able with and e-mail in by bots market. to response quickly creates powered being embedded to us workflows PROS right reps differentiation help

and to solution most, a a lot our the to the and platform for way So in the our dynamically e-mail PROS being extend create market. this I it by through adoption all cell-powered think of a differentiation able now more in threats lot ability of one to adds

see Copilot So deals and in can embed fingerprint. CPQ AI-powered have that there their right now PROS buys anybody

Microsoft driving with So helps a to opportunity we of and more innovate as see this to big us landing our strategy that more realizing expansions. something continue value deals, drive and

Scott Berg

X and that when the or CRO that in then a follow-up And bring think conversation or best near like than was ] the point in hired last from the months time maybe to people had I of I running hire has new you comment about least X And I to the feel this years execution you not. made most at different a this of And at X [ ago, your CRO if what a I consistent going kind perspective, new been sales does fuel how or prior strategies just the role? Tad. in over table sales. seemingly ARiner has term? to growth been the been have your does that's you're couple

Stefan Schulz

Yes. skill excited a and go-to-market. and sales the really to team. Scott. I'm brings unique Great Look, Todd question, have He

scale to building I our expand of done think strategy business. that land we've really a us in realized lot the platform in our positioned the was work

consistency With now invest we've go-to-market velocity, to brains XXXX. in think make very driven, in getting our invest start improvement that profitability it. a experience scaling and the And by you time of big we've Todd and sales we We to about If us and of our organizations. tied clear in go-to-market to deal for year think very team. our roll significantly increased. deal dramatically to XX goal think important it's was to This scaling

The really that we're about aspect converge. BXB seeing excited and other is BXC I'm

wins a direct-to-consumer lot BXB traditional of that as our talking strategies well. with not BXC seeing about. They're BXB You're they're stories, we're just and

more to efficiency go-to-market seeing we sales really scale platform of team and forward. drive move we're and unified go-to-market as more to in So our bring a abilities our

working and us It's up So really strategy this XX. excited. going together. strategy. and XX We're our closely aligned really Todd changing for I be I'm strategies about to about on amplifying are and not setting that really

go-to-market I different in sales really I'm strong So is brings what could tell he very excited you, background.

Scott Berg

on again. next the quarter Congrats

Operator

question is Stifel. Parker from The next Lane with

Matthew Kicker

Parker. for Kicker Matthew is This

in you new what continuing to believe And you is mentioned XX% do you sales see reduction that a last First, cycle times in improvements quarter, Are BXB. logo for that? driving metric?

Andres Reiner

Yes.

say I So consistent. been it's would

remain same. So the improvement we're continuing to the see

and no maintain. continue So seeing them changes we're changes from no so -- what to seeing. real We're right now,

Matthew Kicker

which you there? What play forward? to are XX of big to of like year. focus goals be rates then continues And turning Rule role the the how marketplace in a this attach going of And for achievement can marketplace, a looking your

Andres Reiner

now be opportunity fast marketplace way. in to is in the I Yes. marketplace is very, now, have time, customers Great excited tell solutions in opportunity what much the a I'm And on right I the still over faster be products we to a activation, customers But that to to will untap very in trial expand that creation. the these getting with our some able think with have is them of question. to adopt lot our the to small, really you, new marketplace the in and way. a which will little activated the allow no infancy solutions that can real

a lot of very, growth seamlessly I the for team platform together is gone think these marketplace. has new to of the allow the And activate very bring in about we us of to strategy. we're customers the solutions beginning to really This a our product market product-led as marketplace allowing them move the and proud excited forward. work So to bringing

goals. increasing this over as the is see now, get right quite current small, So our time, we attach bit to a XXXX

Operator

is next from question The Baird. with Patrick Schulz

Patrick Schulz

maybe guess I travel. on off starting

how it's the expectations? I some rest quarter, quarter. year, when of customer has from Could and seems have you relative momentum expansion? to that And looking thinking about continued maybe logos nice the how trended this called the then are it to recovery last path you you at contribution versus you think started frame new the in out business, like see existing

Andres Reiner

Yes, questions. great

we improvements. I wins year, but existing in new in I expansions, would in good are more but net to look, growth. early the travel say early say, So still the travel we're loaded drive tends and on, seeing drive BXB loaded the to continues typically be back-end seeing would year, both and

back continuing continuing to be But growth. Travel for not seeing end. in than improve, deal last improvement in still as the end, So good growth. very make but to pre-covid a from driver front In deal similar continuing the to times times we're they're growth mistakes to we're years. the year, better seeing is stronger cycle is the drive deal main business. that expect Overall, we back that terms of growth, BXB, sales travel, BXB on that. and about no cycle to see the

Patrick Schulz

follow-up a maybe Stefan to the then quick And for financial.

Andres Reiner

that new as obviously, to to strong We're versus year on we for new quarter, say, XX-XX very existing, think driving more that, that logo the and expansions see BXB pleased And But of quick be I both well split. the would travel. wins travel BXB expect expansions. on extent. continuing thing logo One look, strong we with the as new are wins the in in

Patrick Schulz

on the maybe just Stefan, subscription for revenue year. And

start to the posted strong You year. a

I Has about million, a the but not like last quarter? perspective think full less than guidance looks QX that changed And beat that. be? why by you talk macro since dynamic that anything broader bit from there? a rated full about little was guidance $X by through you pass Can year just

Stefan Schulz

from a nothing's broader changed Yes, perspective. macro

much relates of a a from how a and recognition, of able revenue had we to into it the pull of modeled to year to little As terms actually the that of initially subscription the year, some how we was QX terms perspective the benefit rollout QX. of of bit beat in were timing and full we in in applied that

moving of we was can. which bit beat revenue a had up, really we'll in always And when so that's a why some take we QX

million B. that was that's in $X.X And why $X reflected that was the so million there of

for our pertains rest of the as with the change I macro. views to year, see earlier, we said the don't really As it anything

have would guidance you achieve. but consistent, guidance and that we philosophy high our increased a We tell is also degree have a -- can that our bit guidance to on is we we stay confidence numbers I of continuing provide

very so more changed. that And and but has where throughout the we of as improves, more refine I as nothing with we visibility today. year, We're as really our go expect sit we'll happy

Operator

from is question Schwartz next with The Oppenheimer. Brian

Brian Schwartz

in more you back-end you if X can when QX, like look bit a ago. was the bookings little little QX. insight does more little is talk productivity a a bit about sales gave had provide maybe it just loaded than it Andres, productivity the you and in just the year And months that you the can into guidance

Andres Reiner

Yes.

cycle So seeing overall, we're times. consistent sales pretty

did some a it's BXB pretty I we've from say So improvement But seen similar. overall, perspective. remained

terms turning out, how how out we much expected. year pretty In is the of turning it's

wouldn't year back-end loaded. we've half been of win the stronger it, half how continue I rates is The our than is the so changes in no out front say So Back terms and to of efficiencies always turning our year. And of there. predict we improve. exactly the year overall,

Brian Schwartz

I Is your integration. you that, the about dynamic follow-up it that your think awareness in also pricing increase early AI-driven Microsoft the CoPilot then now, I And wanted about it's for solution do to ask market? question expectation the guess but will --

Andres Reiner

with are important. many produce this that quantifiable doubt. And no really, really been There's solutions margin the market. value Microsoft sales much and to absolutely. the AI first Yes, transform there partner aren't help that this. revenue uplift planning It's has and that on process. innovated Look, This us

increase on very definitely we're from within think that Microsoft beginning, visibility amplify go-to-market we're this both And just is PROS to the very This ecosystem. going I how of visibility. and are innovation. the will but So a it focused Microsoft proud

unique, clever is I of One of integrate that's this Copilot sales very side, CRM. been Microsoft transformative and areas on any think the technology can with the it's the

but top force So also sales ecosystem, ecosystem not can just Salesforce.com because you in both the sales and Copilot Microsoft the Microsoft. plug of

very that's way and drive and respond is ROI high be right there faster that rates a reps at really to sell sales and think revenue I case. use better the higher to So it help the unify win reps margin

Brian Schwartz

then And for one question Stefan.

the the the ask about year. year. you're that you has wasn't just we're you're of felt strong you're I quarter about year. half you feeling how visibility the the back for at today to to that Just one quarter, half how wondering visibility now that that now want feeling all the into the as X if quarter know improved second last I'm into

Stefan Schulz

view amount Yes, Brian, the prepared year, things on improved last to XX bit. we has bookings year of book we're and that have going it both this occurred my days down that the further line, in services and remarks. a better Being that terms of a to have in highlighted I like

services have in bookings better and like improved the has in given the can is meaningful can to say revenue also to comment the year. subscription second half visibility degree I up I actually a similarly that the see expect side, that of Our idea that say QX to we've had the a we on we what going look bump QX. in of

on that. just and color as point a So

As year, we're first to we the the half that be similar year, year. how to unfolded, subscription at second this look mix and if look at you expecting half somewhat full last

in you to of similar ratio, to if and from half what half services we're expecting So half what you the a the meaningful first saw jump first second will, the see second is year. half a in

a this for that's how starting out, to better give to we're time. we the and year point the is get in feel color shake at going So can

Operator

Celino is Markets. Jason from KeyBanc with question The Capital next

Jason Celino

Andres, question a actually. a bit philosophical of

far through we've industry I looking think of was I there you going pricing where think ends up at fast was food it real-time a ago, several -- months is shows with don't plan, menus. chain to but the serve that kind how today industries that about trends, you reflect What be the might X on technology optimization the adoption talking the about that come for kind as and and think of you maybe pricing with we X? today? especially

Andres Reiner

TAM for is of low. great dynamic power I in the very is is the stores mean, PROS of especially over is And example, [ adoption ], adoption have retail the pricing. BXB $XX one pricing the look, still criteria quarter. it's Schwab less XXX opportunity selecting example That's industries, say, this over a would which of I real-time important algorithms their them huge. Yes. billion to with the really to for

more this case than So use and broadly compete the we ever supplying important and win. in space to very see BXB

lot I of are that their think dramatic. the challenges a is changing companies having one, are pretty products

So of the products personalization they aspects in criteria configuration the have.

win. recommending offer. is time, real the market right So is they can which second price That And at right changes. in the that is adapting to

look, ahead the our growth So we tell we're excitement the I and would producing market we of the of -- margin because you, capabilities. ahead can revenue years very we're feel AI significant a algorithms wins of run is machine scale real-time is anybody percentage with can that having large in uplift. pure of and these real-time be conviction that significantly have In opportunity the in

a important applies So think majority you, tell it that I to This at journey, very opportunities the we're we're beginning the the still of component. is would the of I closing.

Jason Celino

Nice hear in company to woods. of That's the a No. my neck on the [indiscernible].

So I this... get

Andres Reiner

Yes, we're about. excited very

Jason Celino

throughout quick Business that how quarter? kind sales all close linearity, guess, deals. one kind I And Stefan. the consistent? fairly of it business execution, How for did then of Is pipeline, one did fare

Stefan Schulz

unusual and a but of all. bigger X. typical. always about business, and just certain in say a Even month fairly towards percentage nature month third X I'd nothing Yes, the that's month, the in assuming the linearity when leans is talk pretty the consistent. percentage we in month first at quarter It That's heavily X,

Operator

The Markets. Capital is next Nehal from from question Chokshi Northland

Nehal Chokshi

Congrats on a quarter strong here.

trend mentioned But I'm growth then a year. be billings consistent that X,XXX said mean too you expect not last expectations. trend on was trended was line because with volatile Stefan, that However, year-over-year by you on up also year billing, year basis. year-over-year. to you And last from the you what with It last of sure X%

So more on need what could give there? a color just you you little bit

Stefan Schulz

Nehal, good Yes, a that's observation.

is the year, billings a little think the was that the are consistent make it to saw volatility in And volatility trying and all of of last bit. we're be us strength it's words, last But our this So year. expecting that in the although we on will saw again of I other last strengths see regard. a a be say year. year which quarter-to-quarter I terms is what muted welcome volatile, will I I pattern to year, this we In calculated that less a might point to think than where match basis

Nehal Chokshi

despite basically still So to on strength year ago basis? a expect you'd year-over-year tough a compare, be that

Stefan Schulz

Yes.

So it was revenue of zip I same think in like last just in our total being plan and billings that code, year. calculated terms

Nehal Chokshi

are a why QX? then expecting And subscription you in deceleration revenue for

Stefan Schulz

It's really related to timing of recognition.

were required we The revenue able bit to pull forward. a of actually little So criteria were it.

was originally faster it we little a had so than modeled. what And

And so we a a of that. as had little bit QX beat in it relates to

of But the again throughout amount when of we're year was impact our going year. a number. talking we is how this to expecting visibility And are times our earlier, we'll history, see allows concentrated an occur one in the half quarter quarter that increase second on so as to recognition there see had second another. and number that see I that And in the us versus unfold, see to

Nehal Chokshi

rather sooner expected that some quarter, you than strong that And recognition the within bookings that subscription have the because with mean strong up QX, billings of incremental that saw strong there? in put would of you revenue I to that do ARR

Stefan Schulz

the quarter that had what Well, transaction just in to the we was to faster yes, able It we little accelerate a but correlation. Basically, assumed. recorded it's fourth a say that the recognition a than happened on. were I direct be wouldn't happened delivery

Operator

The Victor is America. next Bank of question from with Cheng

Hin Fung Cheng

again. Genie you on I rate capabilities generative how would the quarter broadly, How Maybe with about congrats field? lot sales. should your then AI about been Copilot with into Stefan, more the should whether resonating now? you solid maybe opportunities a we portfolio? your adoption think Copilot And customers AI future and on Obviously, have the Microsoft give Andres us talked color about plans leveraging think on playing Can with and what's some you've for GenX has first change right on how now integrated and AI.

Andres Reiner

questions. Great Yes.

terms I or Gen it's all deals talked at transformative would our really I have been we're in an Cargolux compared or markets volatility. Schwab So you where is X the about, X especially to I any very AI, leap you top deals Gen think of of Gen seeing that we're tell for high X the well, ] and in the the these whether big it's expansion it's market. technology, less [ winning, technologies resonating

the pure go can't historical many have based data segmentation in with as typical marketplace. You on the companies

the continues big that Generative multiple the is using transformative AI, L ability with us one And allows a technology to of right parts use play for including to our open platform those we're ensemble AI leverage AI cases. Microsoft of our the really LEMS and to role. that So algorithms.

technology, type So AI to of continue of think as types higher our technology. space. transform are to where we're intelligence will business. many a we're Those aspects assistant and But type to continue leveraging algorithms as of that solution our to and combination bring pricing of of many of of a sales so technology the LLM it's assistant bringing do well level

right leverage we're to all problem very front. different innovate Microsoft, able to the we'll and with on think very So these excited especially of I the for types AI AI being algorithms of generative closely are, about continue

Hin Fung Cheng

inflation QX a for and higher give follow-up it's be bit should we full on color kind a year there Can that one you us Is that? as noticed some well. for I wage more? of any bit factoring on maybe in share-based comp. And edged

Stefan Schulz

some basically of in expense to the rest of the first accelerated take we It's from expense took No, the quarter. away year. that's timing going that

So of about from compensation year-over-year this year. as unfolds, the year what more in the of should to stock-based a really expense should see you'll about ago of some that decline the actually our the you occurred first the of throughout is rest percentage see benefit about XX% acceleration and quarter, year It's the XX% year.

Operator

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

Belinda Overdeput

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

Orlando, May As Conference XXXX a will outperformance we reminder, PROS to XX in on hosting be Florida. XX our

investors and a on our the on session conference. We customer a our conference is X website panel. lease will include person. XXnd, at analyst will thereafter from Investor in conference a.m. investor Relations host panel which cannot executive of Registration the Time and The session analysts streamed virtual the and section available at the open will for attend live for be and Eastern those who the for website management

of Craig-Hallum Sector in Conference Needham Media York Conference on We and Minneapolis, will be on Insight XX Consumer June and June the also London. Investor in Technology, attending X Bank City on York X the XX in Conference June on Media New the in Boston, the May America Stifel the Consumer Technology and Conference Telecommunications on City, Technology Baird Services Institutional XX and Conference May Cross in New

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PROS (PRO) 7 May 242024 Q1 Earnings call transcript