2015 Q2 Form 10-Q Financial Statement

#000139297215000083 Filed on August 06, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $41.69M $44.37M
YoY Change -6.04% 24.89%
Cost Of Revenue $15.73M $14.75M
YoY Change 6.62% 36.78%
Gross Profit $25.96M $29.62M
YoY Change -12.35% 19.7%
Gross Profit Margin 62.27% 66.75%
Selling, General & Admin $27.54M $24.27M
YoY Change 13.49% 52.24%
% of Gross Profit 106.09% 81.94%
Research & Development $11.29M $10.51M
YoY Change 7.39% 30.95%
% of Gross Profit 43.48% 35.49%
Depreciation & Amortization $2.370M $2.830M
YoY Change -16.25% 174.76%
% of Gross Profit 9.13% 9.56%
Operating Expenses $38.83M $34.78M
YoY Change 11.65% 333.3%
Operating Profit -$12.87M -$7.871M
YoY Change 63.49% -1109.1%
Interest Expense -$2.220M $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net -$207.0K -$571.0K
YoY Change -63.75% 342.64%
Pretax Income -$15.30M -$8.442M
YoY Change 81.21% -1396.77%
Income Tax $370.0K -$1.240M
% Of Pretax Income
Net Earnings -$15.67M -$6.996M
YoY Change 123.96% -1306.21%
Net Earnings / Revenue -37.58% -15.77%
Basic Earnings Per Share -$0.53 -$0.24
Diluted Earnings Per Share -$0.53 -$0.24
COMMON SHARES
Basic Shares Outstanding 29.57M shares 28.96M shares
Diluted Shares Outstanding 29.57M shares 28.96M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $157.0M $30.00M
YoY Change 423.33% -65.99%
Cash & Equivalents $145.8M $30.03M
Short-Term Investments $11.20M
Other Short-Term Assets $7.400M $13.40M
YoY Change -44.78% 123.33%
Inventory
Prepaid Expenses
Receivables $60.20M $62.00M
Other Receivables $0.00 $0.00
Total Short-Term Assets $224.6M $105.4M
YoY Change 113.0% -20.01%
LONG-TERM ASSETS
Property, Plant & Equipment $15.79M $16.76M
YoY Change -5.82% 12.96%
Goodwill $20.61M $23.35M
YoY Change -11.72%
Intangibles $17.00M $24.23M
YoY Change -29.83%
Long-Term Investments
YoY Change
Other Assets $1.520M $1.334M
YoY Change 13.94% -76.84%
Total Long-Term Assets $54.92M $76.28M
YoY Change -28.0% 264.52%
TOTAL ASSETS
Total Short-Term Assets $224.6M $105.4M
Total Long-Term Assets $54.92M $76.28M
Total Assets $279.5M $181.7M
YoY Change 53.81% 18.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.350M $12.25M
YoY Change -23.67% 170.28%
Accrued Expenses $5.213M $8.653M
YoY Change -39.75% 109.57%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $82.22M $77.65M
YoY Change 5.89% 56.86%
LONG-TERM LIABILITIES
Long-Term Debt $113.4M $0.00
YoY Change
Other Long-Term Liabilities $1.035M $3.316M
YoY Change -68.79% 228.32%
Total Long-Term Liabilities $1.035M $3.316M
YoY Change -68.79% 228.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $82.22M $77.65M
Total Long-Term Liabilities $1.035M $3.316M
Total Liabilities $201.0M $84.40M
YoY Change 138.16% 57.28%
SHAREHOLDERS EQUITY
Retained Earnings -$49.12M $2.879M
YoY Change -1806.18% -83.26%
Common Stock $35.00K $34.00K
YoY Change 2.94% 6.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $13.94M $13.94M
YoY Change 0.0% 0.0%
Treasury Stock Shares 4.418M shares 4.418M shares
Shareholders Equity $78.52M $97.33M
YoY Change
Total Liabilities & Shareholders Equity $279.5M $181.7M
YoY Change 53.81% 18.97%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income -$15.67M -$6.996M
YoY Change 123.96% -1306.21%
Depreciation, Depletion And Amortization $2.370M $2.830M
YoY Change -16.25% 174.76%
Cash From Operating Activities $3.410M -$12.50M
YoY Change -127.28% -287.41%
INVESTING ACTIVITIES
Capital Expenditures -$850.0K -$3.750M
YoY Change -77.33% 90.36%
Acquisitions
YoY Change
Other Investing Activities $1.290M -$20.00K
YoY Change -6550.0%
Cash From Investing Activities $440.0K -$3.780M
YoY Change -111.64% 91.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 50.00K -830.0K
YoY Change -106.02% -179.05%
NET CHANGE
Cash From Operating Activities 3.410M -12.50M
Cash From Investing Activities 440.0K -3.780M
Cash From Financing Activities 50.00K -830.0K
Net Change In Cash 3.900M -17.11M
YoY Change -122.79% -397.57%
FREE CASH FLOW
Cash From Operating Activities $3.410M -$12.50M
Capital Expenditures -$850.0K -$3.750M
Free Cash Flow $4.260M -$8.750M
YoY Change -148.69% -201.27%

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0 USD
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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PaymentsForProceedsFromAvailableforsaleSecuritiesShortterm
31200000 USD
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1850000 USD
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PreferredStockParOrStatedValuePerShare
0.001
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Discount From Market Price Offering Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardDiscountFromMarketPriceOfferingDate
0.05
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us-gaap Sales Revenue Services Net
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
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900000 shares
CY2015Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
898412 shares
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0 USD
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20000000 USD
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382000 USD
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CY2014Q2 us-gaap Revenues
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us-gaap Revenues
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CY2015Q2 us-gaap Unamortized Debt Issuance Expense
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CY2014Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Organization and Nature of Operations</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">PROS Holdings, Inc., a Delaware corporation, through its operating subsidiaries (the "Company"), provides big data software applications that are designed to help companies outperform in their markets by using data to sell more effectively. The Company applies data science to unlock buying patterns and preferences within transaction data to reveal which opportunities are most likely to close, which offers are most likely to sell and which prices are most likely to win. The Company offers big data cloud solutions to analyze, execute, and optimize sales, pricing, quoting, rebates and revenue management. The Company also provides professional services to implement its software applications as well as business consulting. In addition, the Company provides product maintenance and support to its customers to receive unspecified upgrades, maintenance releases and bug fixes during the term of the support period on a when-and-if-available basis. The Company provides its big data software applications to enterprises across a range of industries, including manufacturing, distribution, services, and travel.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of estimates</font></div><div style="line-height:120%;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company makes estimates and assumptions in the preparation of its unaudited condensed consolidated financial statements, and its estimates and assumptions may affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. The complexity and judgment required in the Company's estimation process, as well as issues related to the assumptions, risks and uncertainties inherent in the application of the percentage-of-completion method of accounting, affect the amounts of revenue, expenses, unbilled receivables and deferred revenue. Estimates are also used for, but not limited to, receivables, allowance for doubtful accounts, useful lives of assets, depreciation and amortization, income taxes and deferred tax asset valuation, valuation of stock options, other current liabilities and accrued liabilities. Numerous internal and external factors can affect estimates. The critical accounting policies related to the estimates and judgments are discussed in the Company's Annual Report under management's discussion and analysis of financial condition and results of operations. There have been no significant changes to the Company's critical accounting policies as described in the Company's Annual Report.</font></div></div>

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