XML 25 R15.htm IDEA: XBRL DOCUMENT
v3.23.3

Credit facility | 9 Months Ended
--- | ---
Sep. 30, 2023
Credit Facility Disclosure [Abstract] |
Credit Facility Dislcosure | Credit Facility On July 21, 2023, the Company, through its wholly owned subsidiary PROS, Inc., entered into a three-year secured credit agreement ("Credit Agreement") with the lenders from time to time party thereto and Texas Capital Bank as administrative agent for the lenders party thereto. The Credit Agreement provides for a revolving line of credit of up to $50.0 million, with interest paid monthly, at a rate per annum equal to the 30-day secured overnight financing rate ("SOFR") plus a 0.10% per annum SOFR adjustment plus an applicable margin of 4.25%. Borrowings under the Credit Agreement are collateralized by a firs t priority interest in and lien on all of the Company's material assets. The Credit Agreement contains affirmative and negative covenants, including covenants which restrict the ability of the Company to, among other things, create liens, incur additional indebtedness and engage in certain other transactions, in each case subject to certain exclusions. In addition, the Credit Agreement contains certain financial covenants which become effective in the event the Company's liquidity (as defined in the Credit Agreement) falls below a certain level. The Credit Agreement also has a depository condition which requires the Company to maintain a cash balance of at least $10.0 million with the administrative agent throughout the term of the Credit Agreement. This amount has been included in restricted cash in the unaudited condensed consolidated balance sheets. As of September 30, 2023, the Company was in compliance with all financial covenants and the depository condition in the Credit Agreement. As of September 30, 2023, $0.8 million of unamortized debt issuance cost related to the Credit Agreement is included in prepaid and other current assets and other assets, noncurrent in the unaudited condensed consolidated balance sheets. For the three and nine months ended September 30, 2023, the Company recorded an immaterial amount of amortization of debt issuance cost which is included in other (expense) income, net in the unaudited condensed consolidated statements of comprehensive loss. As of September 30, 2023, the Company had no outstanding borrowings under the Credit Agreement.

X
- Definition Credit Facility Disclosure + References No definition available. + Details
Name: | pro_CreditFacilityDisclosureAbstract
Namespace Prefix: | pro_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Credit Facility Dislcosure + References No definition available. + Details
Name: | pro_CreditFacilityDislcosureTextBlock
Namespace Prefix: | pro_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration