PROS Holdings, Inc. (PRO) saw its loss widen to $18.51 million, or $0.61 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $17.73 million, or $0.60 a share. On the other hand, adjusted net loss for the quarter widened to $6.51 million, or $0.21 a share from a loss of $2.79 million or $0.09 a share, a year ago.
Revenue during the quarter dropped 4.97 percent to $39.93 million from $42.01 million in the previous year period. Gross margin for the quarter contracted 327 basis points over the previous year period to 60.05 percent. Operating margin for the quarter stood at negative 40.72 percent as compared to a negative 35.80 percent for the previous year period.
Operating loss for the quarter was $16.26 million, compared with an operating loss of $15.04 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $9.55 million compared to operating loss of $3.55 million in prior year period.
"2016 was a breakthrough year for PROS as we transformed to a cloud company and executed on our mission of helping companies outperform," stated chief executive officer Andres Reiner. "We are pleased with our strong fourth quarter finish and full year performance, exceeding guidance on all of our key growth metrics. We enter 2017 confident that we have the right team, the right strategy, and the right solutions to capitalize on a large market opportunity as more companies turn to data science-driven solutions to power modern commerce."
For financial year 2017, PROS Holdings, Inc. expects revenue to be in the range of $162.50 million to $165.50 million.
For the first-quarter 2017, PROS Holdings, Inc. expects revenue to be in the range of $38 million to $39 million. On an adjusted basis, the company projects diluted loss per share to be in the range of $0.30 to $0.29.
Operating cash flow turns negative
PROS Holdings, Inc. has spent $14.34 million cash to meet operating activities during the year as against cash inflow of $15.53 million in the last year.
The company has spent $25.40 million cash to meet investing activities during the year as against cash outgo of $9.42 million in the last year.
The company has spent $3.68 million cash to carry out financing activities during the year as against cash outgo of $5.55 million in the last year period.
Cash and cash equivalents stood at $118.04 million as on Dec. 31, 2016, down 27.03 percent or $43.73 million from $161.77 million on Dec. 31, 2015.
Debt moves up
PROS Holdings, Inc. has witnessed an increase in total debt over the last one year. It stood at $122.30 million as on Dec. 31, 2016, up 5.56 percent or $6.44 million from $115.86 million on Dec. 31, 2015. PROS Holdings, Inc. has witnessed an increase in long-term debt over the last one year. It stood at $122.30 million as on Dec. 31, 2016, up 5.56 percent or $6.44 million from $115.86 million on Dec. 31, 2015. Total debt was 53.72 percent of total assets as on Dec. 31, 2016, compared with 43.93 percent on Dec. 31, 2015.
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