PROS Holdings, Inc.

The question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to Belinda Overduput, head of investor relations. Please go ahead.

Thank you, operator. Good afternoon, everyone. And thank you for joining us. Our earnings press release, SEC filings, and a replay of today's call can be found on the investor relations section of our website at pros.com. Our prepared remarks are also available on our website and will be replaced by the official transcript, which includes participant questions once available. With me on today's call is Andres Reiner, President and Chief Executive Officer, and Stephan Schultz, Chief Financial Officer. Please note that some of the commentary today will include forward-looking statements, including, without limitation, those about our strategy, future business prospects and market opportunities, and our financial projections and guidance. Actual results could differ materially from such statements in our forecast. For more information, please refer to the risk factors described in our SEC filings. PROS assumes no obligation to update any forward-looking statements to reflect future events or circumstances. As a reminder, during the call, we will discuss non-GAAP metrics. Reconciliations between each non-GAAP measure and the most directly comparable GAAP measure to the extent to which available without unreasonable effort are available in our earnings press release. With that, I'll turn the call over to you, Andres.

Thank you, Belinda. Good afternoon, everyone, and thank you for joining us on today's call. We delivered a strong start to 2024, exceeding the height of our guidance ranges across all metrics. We grew subscription revenue by 15% in total revenue by 10% while delivering a near 300% improvement in adjusted EBITDA year over year, reflecting our continued focus on our 2026 goal of being a Rule of 40 company. Core to our strategy to fuel our growth is to continue to bring groundbreaking AI innovations to market. and drive market adoption of the Pros platform with our Land, Realize, and Expand strategy. In Q1, we officially launched the Pros Co-Pilot for Sales plugin in partnership with Microsoft. In today's environment, customers place a premium on speed and efficiency, and research shows that 35% to 50% of sales go to the vendor that responds first. The Pros Copilot for Sales plugin seamlessly integrates Pros AI Power Quote insights into Microsoft Copilot for Sales, empowering sellers to deliver fast, personalized offers to customers directly from email threads. Pros is the first vendor to integrate Quote insights into Microsoft Copilot for Sales, uniquely harnessing the power of data from across ProSmart CPQ, Microsoft 365 apps, and CRM platforms to drive AI-powered offers that win. Our platform innovations are resonating, evidenced by our wins across industries. I will share a few of our exciting wins starting with new customers. In Q1, ECE Group and Les Schwab made the strategic decision to adopt the PROS platform. ECE Group, a global leader in real estate management, chose to activate smart CPQ to power offers for the retail rental spaces to accelerate time to quote and drive a better customer experience. Les Schwab, a leading automotive tire and parts distributor, chose to activate smart price optimization and management to power real-time dynamic pricing across their more than 500 retail stores, fueling their profitable growth strategy. We also welcome Air India as a new PROS customer in Q1. Air India selected the PROS platform to activate or offer marketing solution to seamlessly market personalized offers to passengers online, bringing them into their direct booking channel to drive higher conversion of online sales and fuel profitable growth. Now on to some of our incredible expansions in Q1. Hyatt has expanded its use of offer marketing on the pros platform to continue to drive exceptional experiences for their guests through optimized and personalized marketing campaigns. The new innovations enable Hyatt to enhance customer acquisition strategies by launching customizable pages at scale across all digital campaigns. AirBaltic, the flag carrier of Latvia, expanded their use of the PROS platform by activating dynamic ancillary pricing. Airlines around the world are increasingly focused on driving revenue growth through ancillaries. And PROS has the only AI-powered solution in the market for ancillary pricing. PROS DAP uses reinforcement learning techniques to present tailored ancillary service prices to passengers. aiming to drive more overall ancillary sales at more optimal prices. Based on PROS initial estimates, DAP is expected to drive 2% to 6% revenue uplift through AI-powered dynamic pricing. With DAP, AirBaltic has already seen revenue uplift on assigned seating, which is one of their largest ancillary revenue contributors. Cargolux expanded their use of the PROS platform by activating our Gen 4 AI price optimization, including our capacity-aware optimization. With this expansion, Cargolux would take advantage of our latest AI innovations to drive even more value as they continue to use the PROS platform to power their omni-channel sales motion. We're so proud to see how the PROS platform is helping businesses across industries and around the globe drive immense value. You will hear more from our customers directly and learn more about the new AI innovations we're bringing to market at our upcoming Outperform with PROS conference. Now onto our recent organizational update. We welcome Todd McNabb as Chief Revenue Officer. Todd will lead our global go-to-market team, bringing to PROS over 25 years of experience in driving sales and scaling organizations. Todd's leadership will amplify our growth momentum, building upon our land, realize, and expand strategy. I'm excited to welcome Todd to the team, and I'm enjoying working closely with him on our growth objectives. Lastly, our core values of ownership, innovation, and care show up in everything we do, including our efforts to build a more sustainable future. This is reflected in our recently published 2023 Sustainability Report, which highlights our progress across environmental, social, and governance-related topics and embodies our company's culture in actions. You will find our new report in the investor relations section of our website. Before I close, I would like to thank our incredible global team for their passion and dedication to pros, our customers, and our communities. I would also like to thank our customers, partners, and shareholders for their ongoing support of pros. With that, I'll turn the call over to Stefan to cover our financial performance and outlook.