PROS Holdings, Inc. is a technology company that provides revenue management, dynamic pricing, and digital retailing solutions. Following its acquisition by investment firm Thoma Bravo, the company separated its B2B and airline businesses, refocusing its operations exclusively on the airline industry. Headquartered in Houston, Texas, PROS operates globally with offices across Europe and North America, including locations in Frankfurt, Germany, and Sofia, Bulgaria.3Wikipedia text CC BY-SA 4.0
PROS Holdings, Inc. is a technology company that provides revenue management, dynamic pricing, and digital retailing solutions. Following its acquisition by investment firm Thoma Bravo, the company separated its B2B and airline businesses, refocusing its operations exclusively on the airline industry. Headquartered in Houston, Texas, PROS operates globally with offices across Europe and North America, including locations in Frankfurt, Germany, and Sofia, Bulgaria.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue91011128$330.4M in 2024+68% since 2018Gross profit91011128$217.0M in 2024+81% since 2018Operating income91011128-$19.0M in 2024−61% since 2018Net income91011128-$20.5M in 2024−68% since 2018
Revenue131415$91.7M in Q3 FY2025+6% since Q1 FY2025Gross profit131415$63.1M in Q3 FY2025+8% since Q1 FY2025Operating income131415-$2.9M in Q3 FY2025−25% since Q1 FY2025Net income131415-$4.2M in Q3 FY2025+15% since Q1 FY2025
Total assets1791011128$419.9M in 2024−4% since 2018Total liabilities1791011128$488.6M in 2024+28% since 2018Shareholders’ equity1011128-$68.7M in 2024Cash1011128$162.0M in 2024−45% since 2018
Total assets131415$444.9M in Q3 FY2025+4% since Q1 FY2025Total liabilities131415$521.1M in Q3 FY2025+6% since Q1 FY2025Shareholders’ equity131415-$76.2M in Q3 FY2025+16% since Q1 FY2025Cash131415$188.4M in Q3 FY2025+18% since Q1 FY2025
Cash from operations91011128$27.4M in 2024+380% since 2018Capital spending91011128$1.2M in 2024−21% since 2018Free cash flow91011128$26.2M in 2024+520% since 2018
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
PROS sits at the top of its group. 15 entities, 11 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of PROS
RGM Capital, LLCFiled SCHEDULE 13G/A on PROS, latest Feb 13, 2026 (5 filings since Feb 11, 2022)
BANK OF NOVA SCOTIAFiled SCHEDULE 13G/A on PROS, latest Jan 27, 2026 (2 filings since Oct 6, 2025)
PROS Technology Australia Pty. Ltd. Subsidiary · Australia
PROS Travel Commerce, Inc. Subsidiary · Delaware, United States
PROS Travel Retail SAS Subsidiary · France
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What PROS reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Our headquarters is located in Houston, Texas, where we lease approximately 112,000 square feet of office space. We also lease a number of smaller regional offices. We believe our existing facilities are sufficient for our current needs, particularly as we have pivoted to a hybrid workforce.
In June 2007, PROS became a publicly traded company following its initial public offering which raised $75.1 million at $11 per share.
In 2024, PROS was described by the Houston Business Journal as one of the largest Houston-Area public companies.
On June 2, 2025 Jeff Cotten became president and CEO, succeeding Andres Reiner, who moved into a senior advisory role.
In September 2025, private equity firm Thoma Bravo announced it's intent to acquire PROS for $1.4 billion and take the company private. As part of the transaction, PROS' B2B assets were slated to combine with Conga, another Thoma Bravo portfolio company.
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Acquisitions
PROS first acquisition occurred in October 2013 with the purchase of Cameleon Software, a provider of Configure, Price, Quote (CPQ) tools, for $33 million. Later that year, PROS acquired SignalDemand for $13.5 million.
In 2017, the company acquired Vayant Travel Technologies, an airfare search company based in Sofia, Bulgaria, for $35 million. This was followed by the acquisition of French travel technology firm Travelaer SAS in 2019 for $12 million.
In 2021, PROS acquired Miami-based fare-marketing company EveryMundo for $90 million.
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
340 filings to the SEC since October 2021: 4 annual reports, 13 quarterly reports, 50 major events, 173 insider forms, 47 large holders, 53 other. The latest 20:
38 open-market trades by officers, directors and large owners since October 2021: 2 buys and 36 sales. Grants, option exercises and gifts are left out.
From the cover page of the 10-K filed Feb 12, 2025 (Section 12(b) of the Exchange Act).18
Risk factors and legal proceedings
The risks PROS names in Item 1A of its 10-K filed Feb 12, 2025: 34 risks under these headings, as written.18
Strategic, Commercial and Operational Risks
Our IT systems are regularly under attack. If our security measures are breached and unauthorized access is obtained to a customer’s data, our data or our IT systems, our and our customers’ operations may be disrupted, our reputation may be harmed, our solutions may be perceived as not being secure, customers may limit or stop using our solutions and we may incur significant legal and financial exposure and liabilities.
Current and future economic and geopolitical uncertainty and other unfavorable conditions in the global economy or the industries we serve could limit our ability to grow our business and negatively affect our operating results.
Failure to increase business from our customers, sustain our historical renewal rates and/or capture customer IT spend could adversely affect our future revenue and operating results.
If we fail to manage our profitable growth objective effectively, our business, cash flow and results of operations will be adversely affected.
We depend on third-party data centers, software, data and other unrelated service providers and any disruption from such third-party providers could impair the delivery of our service and negatively affect our business.
Implementation projects involve risks which can negatively impact the effectiveness of our software, resulting in harm to our reputation, business and financial performance.
If we fail to manage our cloud operations, we may be subject to liabilities and our reputation and operating results may be adversely affected.
If we fail to protect our intellectual property adequately, our business may be harmed.
Our use of third-party software creates dependencies outside of our control.
We may enter into acquisitions that may be difficult to integrate, fail to achieve our strategic objectives, disrupt our business, dilute stockholder value or divert management attention.
Catastrophic events may disrupt our operations.
The other 23 risks
We are a multinational corporation exposed to risks inherent in international operations.
Market and Competition Risks
Any downturn in sales to our target markets could adversely affect our operating results.
We have historically been subject to lengthy sales cycles, and delays or failures to complete sales may harm our business and cause our revenue, operating income, and cash flows to decline in the future.
If we fail to develop or acquire new functionality and software solutions, we may not be able to grow our business and it could be harmed.
The markets in which we participate are intensely competitive, and if we do not compete effectively, our operating results could be harmed.
We focus primarily on pricing optimization and management, CPQ, airline revenue optimization, airline distribution and retail, and digital offer marketing software and if the markets for these software solutions develop more slowly than we expect or if we fail to capitalize on the market opportunity, our business could be harmed.
Human Capital Risks
If we cannot maintain our corporate culture, we could lose the innovation, teamwork and passion that we believe contribute to our success, and our business may be harmed.
If we lose key members of our management team or sales, development or operations personnel, or are unable to attract and retain employees, our business could be harmed.
Failure to adequately expand and train our direct and indirect sales force may impede our growth.
Regulatory, Compliance and Litigation Risks
Complex and evolving global laws and regulations expose us to potential liability, increased costs and other adverse impacts on our business.
Issues related to the rapid adoption, evolution and understanding of AI may result in reputational harm or liability or otherwise adversely affect our business.
Any unauthorized, and potentially improper, actions of our personnel could adversely affect our business, operating results, cash flows, and financial condition.
Intellectual property litigation and infringement claims may cause us to incur significant expense or prevent us from selling our software solutions.
Our use of open source software may subject our software solutions to general release or re-engineering.
Defects or errors in our software solutions could harm our reputation, impair our ability to sell our solutions and result in significant costs to us.
Business Model and Capital Structure Risks
We have experienced losses since we transitioned to a cloud strategy, and we may continue to incur losses for longer than we expect.
We incurred indebtedness by issuing convertible notes, and we may borrow under our Credit Agreement. Our debt repayment obligations may adversely affect our financial condition and cash flows in the future.
Our quarterly results vary and do not fully reflect the performance of our business.
If we fail to migrate our remaining customers with on-premises software licenses to our latest cloud software solutions, our future revenue and our costs to provide support to those customers may be negatively impacted.
If our goodwill or amortizable intangible assets become impaired, we could be required to record a significant charge to earnings.
Risks Relating to Ownership of our Common Stock
Market volatility may affect our stock price and the value of your investment.
Anti-takeover provisions in our Certificate of Incorporation and Bylaws and under Delaware law could make an acquisition of us more difficult and may prevent attempts by our stockholders to replace or remove our current management.
We do not intend to pay dividends for the foreseeable future.
Legal proceedings
In the ordinary course of our business, we may be involved in various legal proceedings and claims. The outcomes of these matters are inherently unpredictable. We are not currently involved in any outstanding litigation that we believe, individually or in the aggregate, will have a material adverse effect on our business, results of operations or financial condition.
