- Subscription revenue of $64.3 million, up 15%
year-over-year.
- Subscription gross margin of 77% and non-GAAP subscription
gross margin of 79%, an improvement of more than 140 basis points
year-over-year.
- Total gross margin of 64% and non-GAAP gross margin of 67%, an
improvement of 315 basis points year-over-year.
PROS Holdings, Inc. (NYSE: PRO), a leading provider of
AI-powered SaaS pricing, CPQ, revenue management, and digital offer
marketing solutions, today announced financial results for the
first quarter ended March 31, 2024.
“We delivered a strong start to 2024, exceeding our guidance
ranges across all metrics, driving 15% subscription revenue growth
and delivering a near 300% improvement to adjusted EBITDA
year-over-year,” stated CEO Andres Reiner. “We continue to be
excited about our long-term trajectory as the market continues to
embrace AI, and we have the right platform, people, and strategy to
capitalize on this market opportunity.”
First Quarter 2024 Financial Highlights
Key financial results for the first quarter 2024 are shown
below. Throughout this press release all dollar figures are in
millions, except net (loss) earnings per share. Unless otherwise
noted, all results are on a reported basis and are compared with
the prior-year period.
GAAP
Non-GAAP
Q1 2024
Q1 2023
Change
Q1 2024
Q1 2023
Change
Revenue:
Total Revenue
$80.7
$73.2
10%
n/a
n/a
n/a
Subscription Revenue
$64.3
$56.0
15%
n/a
n/a
n/a
Subscription and Maintenance Revenue
$67.9
$61.7
10%
n/a
n/a
n/a
Profitability:
Gross Profit
$51.9
$43.6
19%
$53.9
$46.6
16%
Operating (Loss) Income
$(10.3)
$(18.8)
$8.5
$3.7
$(3.5)
$7.2
Net (Loss) Income
$(11.4)
$(19.0)
$7.6
$2.0
$(2.5)
$4.6
Net (Loss) Earnings Per Share
$(0.24)
$(0.41)
$0.17
$0.04
$(0.06)
$0.10
Adjusted EBITDA
n/a
n/a
n/a
$4.6
$(2.3)
$6.9
Cash:
Net Cash Used in Operating Activities
$(4.6)
$(6.1)
$1.5
n/a
n/a
n/a
Free Cash Flow
n/a
n/a
n/a
$(4.9)
$(4.5)
$(0.4)
The attached table provides a summary of PROS results for the
period, including a reconciliation of GAAP to non-GAAP metrics.
Recent Business Highlights
- Launched the PROS Copilot for Sales Plugin in partnership with
Microsoft, making PROS the first vendor to integrate quote insights
into Microsoft’s Copilot for Sales; PROS Copilot for Sales Plugin
empowers sellers to deliver fast, personalized offers to customers
directly from email threads, uniquely harnessing the power of PROS
AI combined with Microsoft's generative AI to drive proposals that
win.
- Welcomed many new customers who are adopting the PROS Platform
such as Air India, Eastern Airways, ECE Group, JetBlue, Les Schwab,
and Sky High Dominicana, among others.
- Expanded adoption of the PROS Platform within existing
customers including Air Baltic, Cargolux, CITGO, Europcar, Graybar
Electric, Hyatt, Securitas, Siemens, and TE Connectivity, among
others.
- Chris Allison, PROS Director of Product Management, was elected
Vice Chair of the International Air Transport Association’s (IATA)
Shop Order Pay Standards Board Advisory Forum (SOPSBAF),
responsible for the strategic direction of distribution, offer
management, order management and payment standards within the
airline industry; Chris’ appointment establishes PROS expertise and
leadership in setting the vision for the future of airline
retailing.
- Published PROS 2023 Sustainability Report, highlighting our
perspectives on and approach to environmental, social, and
governance issues that matter most to PROS customers, employees,
and shareholders.
- Appointed Todd McNabb as Chief Revenue Officer to lead PROS
global go-to-market team to amplify PROS growth opportunity as the
market increasingly embraces AI to drive meaningful business
outcomes.
Financial Outlook
PROS currently anticipates the following based on an estimated
48.2 million diluted weighted average shares outstanding for the
second quarter of 2024 and a 22% non-GAAP estimated tax rate for
the second quarter and full year 2024.
Q2 2024 Guidance
v. Q2 2023 at
Mid-Point
Full Year 2024
Guidance
v. Prior Year at
Mid-Point
Total Revenue
$80.5 to $81.5
7%
$332.5 to $334.5
10%
Subscription Revenue
$64.0 to $64.5
12%
$263.5 to $265.5
13%
Subscription ARR
n/a
n/a
$289.0 to $292.0
12%
Non-GAAP Earnings Per Share
$0.00 to $0.02
$0.02
n/a
n/a
Adjusted EBITDA
$1.0 to $2.0
$1.4
$17.0 to $20.0
$12.5
Free Cash Flow
n/a
n/a
$22.0 to $26.0
$12.6
Conference Call
In conjunction with this announcement, PROS Holdings, Inc. will
host a conference call on Tuesday, May 7, 2024, at 4:45 p.m. ET to
discuss the Company’s financial results and business outlook. To
access this call, dial 1-877-300-8521 (toll-free) or
1-412-317-6026. The live and archived webcasts of this call can be
accessed under the “Investor Relations” section of the Company’s
website at www.pros.com.
A telephone replay will be available until Tuesday, May 14,
2024, 11:59 PM ET at 1-844-512-2921 (toll-free) or 1-412-317-6671
using the pass code 10188161.
About PROS
PROS Holdings, Inc. (NYSE: PRO) is a leading provider of
AI-powered SaaS pricing, CPQ, revenue management, and digital offer
marketing solutions. Our vision is to optimize every shopping and
selling experience. With nearly 40 years of industry expertise and
a proven track record of success, PROS helps B2B and B2C companies
across the globe, in a variety of industries, including airlines,
manufacturing, distribution, and services, drive profitable growth.
The PROS Platform leverages AI to provide real-time predictive
insights that enable businesses to drive revenue and margin
improvements. To learn more about PROS and our innovative SaaS
solutions, please visit our website at www.pros.com.
Forward-looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements about our financial outlook;
expectations; ability to achieve future growth and profitability
goals; management's confidence and optimism; positioning; customer
successes; demand for our software solutions; pipeline; business
expansion; revenue; subscription revenue; subscription ARR;
non-GAAP earnings (loss) per share; adjusted EBITDA; free cash
flow; shares outstanding and effective tax rate. The
forward-looking statements contained in this press release are
based upon our historical performance and our current plans,
estimates and expectations and are not a representation that such
plans, estimates or expectations will be achieved. Factors that
could cause actual results to differ materially from those
described herein include, among others, risks related to: (a)
cyberattacks, data breaches and breaches of security measures
within our products, systems and infrastructure or products,
systems and infrastructure of third parties upon whom we rely, (b)
the macroeconomic environment and geopolitical uncertainty and
events, (c) increasing business from customers, maintaining
subscription renewal rates and capturing customer IT spend, (d)
managing our growth and profit objectives effectively, (e)
disruptions from our third party data center, software, data, and
other unrelated service providers, (f) implementing our solutions,
(g) cloud operations, (h) intellectual property and third-party
software, (i) acquiring and integrating businesses and/or
technologies, (j) catastrophic events, (k) operating globally,
including economic and commercial disruptions, (l) potential
downturns in sales and lengthy sales cycles, (m) software
innovation, (n) competition, (o) market acceptance of our software
innovations, (p) maintaining our corporate culture, (q) personnel
risks including loss of any key employees and competition for
talent, (r) expanding and training our direct and indirect sales
force, (s) evolving data privacy, cyber security, data localization
and AI laws, (t) our debt repayment obligations, (u) the timing of
revenue recognition and cash flow from operations, and (v)
returning to profitability. Additional information relating to the
risks and uncertainties affecting our business is contained in our
filings with the SEC. These forward-looking statements represent
our expectations as of the date hereof. Subsequent events may cause
these expectations to change, and PROS disclaims any obligations to
update or alter these forward-looking statements in the future,
whether as a result of new information, future events or
otherwise.
Non-GAAP Financial Measures
PROS has provided in this release certain non-GAAP financial
measures, including non-GAAP gross profit and margin, non-GAAP
income (loss) from operations or non-GAAP operating income (loss),
subscription annual recurring revenue, adjusted EBITDA, free cash
flow, non-GAAP tax rate, non-GAAP net income (loss), and non-GAAP
earnings (loss) per share. PROS uses these non-GAAP financial
measures internally in analyzing its financial results and believes
they are useful to investors, as a supplement to GAAP measures, in
evaluating PROS’ ongoing operational performance and cloud
transition. Non-GAAP gross margin can be compared to gross margin
which can be calculated from the condensed consolidated statements
of loss by dividing gross profit by total revenue. Non-GAAP gross
margin is similarly calculated but first adds back to gross profit
the portion of certain of the non-GAAP adjustments described below
attributable to cost of revenue. Non-GAAP subscription margin can
be compared to subscription margin which can be calculated from the
condensed consolidated statements of loss by dividing subscription
gross profit (subscription revenue minus subscription cost) by
subscription revenue. Non-GAAP subscription margin is similarly
calculated but first subtracts out from subscription cost the
portion of certain of the non-GAAP adjustments described below
attributable to cost of subscription. These items and amounts are
presented in the Supplemental Schedule of Non-GAAP Financial
Measures.
Non-GAAP financial measures should not be considered in
isolation from, or as a substitute for, financial information
prepared in accordance with GAAP. Investors are encouraged to
review the reconciliation of these non-GAAP measures to their most
directly comparable GAAP financial measure as detailed above. A
reconciliation of GAAP financial measures to the non-GAAP financial
measures has been provided in the tables included as part of this
press release, and can be found, along with other financial
information, in the investor relations portion of our website.
PROS' use of non-GAAP financial measures may not be consistent with
the presentations by similar companies in PROS' industry. PROS has
also provided in this release certain forward-looking non-GAAP
financial measures, including non-GAAP income (loss) from
operations, subscription annual recurring revenue, non-GAAP
earnings (loss) per share, adjusted EBITDA, free cash flow,
non-GAAP tax rates, and calculated billings (collectively the
"non-GAAP financial measures") as follows:
Non-GAAP income (loss) from operations: Non-GAAP income
(loss) from operations excludes the impact of share-based
compensation, amortization of acquisition-related intangibles and
severance. Non-GAAP income (loss) from operations excludes the
following items from non-GAAP estimates:
- Share-Based Compensation: Although share-based
compensation is an important aspect of compensation for our
employees and executives, our share-based compensation expense can
vary because of changes in our stock price and market conditions at
the time of grant, varying valuation methodologies, and the variety
of award types. Since share-based compensation expense can vary for
reasons that are generally unrelated to our performance during any
particular period, we believe this could make it difficult for
investors to compare our current financial results to previous and
future periods. Therefore, we believe it is useful to exclude
share-based compensation in order to better understand our business
performance and allow investors to compare our operating results
with peer companies.
- Amortization of Acquisition-Related Intangibles: We view
amortization of acquisition-related intangible assets, such as the
amortization of the cost associated with an acquired company's
research and development efforts, trade names, customer lists and
customer relationships, as items arising from pre-acquisition
activities determined at the time of an acquisition. While these
intangible assets are continually evaluated for impairment,
amortization of the cost of purchased intangibles is a static
expense, one that is not typically affected by operations during
any particular period.
- Severance: Severance related to costs incurred as the
Company reprioritized its investments to focus on supporting key
growth areas of its business. As a result of this reprioritization,
the Company incurred severance, employee benefits, outplacement and
related costs. These amounts are unrelated to our core performance
during any particular period, and therefore, we believe it is
useful to exclude these amounts in order to better understand our
business performance and allow investors to compare our results
with peer companies.
Non-GAAP earnings (loss) per share: Non-GAAP net income
(loss) excludes the items listed above as excluded from non-GAAP
income (loss) from operations and also excludes amortization of
debt premium and issuance costs and the taxes related to these
items and the items excluded from non-GAAP income (loss) from
operations. Estimates of non-GAAP earnings (loss) per share are
calculated by dividing estimates for non-GAAP net income (loss) by
our estimate of weighted average shares outstanding for the future
period. In addition to the items listed above as excluded from
non-GAAP income (loss) from operations, non-GAAP net income (loss)
excludes the following items from non-GAAP estimates:
- Amortization of Debt Premium and Issuance Costs:
Amortization of debt premium and issuance costs are related to our
convertible notes. These amounts are unrelated to our core
performance during any particular period, and therefore, we believe
it is useful to exclude these amounts in order to better understand
our business performance and allow investors to compare our results
with peer companies.
- Taxes: We exclude the tax consequences associated with
non-GAAP items to provide investors with a useful comparison of our
operating results to prior periods and to our peer companies
because such amounts can vary significantly. In the fourth quarter
of 2014, we concluded that it is more likely than not that we will
be unable to fully realize our deferred tax assets and accordingly,
established a valuation allowance against those assets. The ongoing
impact of the valuation allowance on our non-GAAP effective tax
rate has been eliminated to allow investors to better understand
our business performance and compare our operating results with
peer companies.
Subscription Annual Recurring Revenue: Subscription
Annual Recurring Revenue ("subscription ARR") is used to assess the
trajectory of our cloud business. Subscription ARR means, as of a
specified date, the contracted subscription revenue, including
contracts with a future start date, together with annualized
overage fees incurred above contracted minimum transactions.
Subscription ARR should be viewed independently of revenue and any
other GAAP measure.
Non-GAAP Tax Rate: The estimated non-GAAP effective tax
rate adjusts the tax effect to quantify the impact of the excluded
non-GAAP items.
Adjusted EBITDA: Adjusted EBITDA is defined as GAAP net
income (loss) before interest expense, provision for income taxes,
depreciation and amortization, as adjusted to eliminate the effect
of stock-based compensation cost, severance, amortization of
acquisition-related intangibles, depreciation and amortization, and
capitalized internal-use software development costs. Adjusted
EBITDA should not be considered as an alternative to net income
(loss) as an indicator of our operating performance.
Free Cash Flow: Free cash flow is a non-GAAP financial
measure which is defined as net cash provided by (used in)
operating activities, excluding severance payments, less capital
expenditures and capitalized internal-use software development
costs.
Calculated Billings: Calculated billings is defined as
total subscription, maintenance and support revenue plus the change
in recurring deferred revenue in a given period.
These non-GAAP estimates are not measurements of financial
performance prepared in accordance with GAAP, and we are unable to
reconcile these forward-looking non-GAAP financial measures to
their directly comparable GAAP financial measures because the
information described above which is needed to complete a
reconciliation is unavailable at this time without unreasonable
effort.
PROS Holdings, Inc.
Condensed Consolidated Balance
Sheets
(In thousands, except share and
per share amounts)
(Unaudited)
March 31, 2024
December 31, 2023
Assets:
Current assets:
Cash and cash equivalents
$
156,423
$
168,747
Trade and other receivables, net of
allowance of $724 and $574, respectively
51,035
49,058
Deferred costs, current
4,642
4,856
Prepaid and other current assets
10,809
12,013
Total current assets
222,909
234,674
Restricted cash
10,000
10,000
Property and equipment, net
21,572
23,051
Operating lease right-of-use assets
15,824
14,801
Deferred costs, noncurrent
9,899
10,292
Intangibles, net
10,378
11,678
Goodwill
107,641
107,860
Other assets, noncurrent
9,666
9,477
Total assets
$
407,889
$
421,833
Liabilities and Stockholders’ (Deficit)
Equity:
Current liabilities:
Accounts payable and other liabilities
$
2,535
$
3,034
Accrued liabilities
14,985
13,257
Accrued payroll and other employee
benefits
16,157
32,762
Operating lease liabilities, current
5,135
5,655
Deferred revenue, current
128,359
120,955
Current portion of convertible debt,
net
21,702
21,668
Total current liabilities
188,873
197,331
Deferred revenue, noncurrent
4,289
3,669
Convertible debt, net, noncurrent
271,937
272,324
Operating lease liabilities,
noncurrent
25,616
25,118
Other liabilities, noncurrent
1,191
1,264
Total liabilities
491,906
499,706
Stockholders' (deficit) equity:
Preferred stock, $0.001 par value,
5,000,000 shares authorized; none issued
—
—
Common stock, $0.001 par value, 75,000,000
shares authorized; 51,649,163
and 51,184,584 shares issued,
respectively; 46,968,440 and 46,503,861 shares outstanding,
respectively
52
51
Additional paid-in capital
609,469
604,084
Treasury stock, 4,680,723 common shares,
at cost
(29,847
)
(29,847
)
Accumulated deficit
(658,609
)
(647,252
)
Accumulated other comprehensive loss
(5,082
)
(4,909
)
Total stockholders’ (deficit) equity
(84,017
)
(77,873
)
Total liabilities and stockholders’
(deficit) equity
$
407,889
$
421,833
PROS Holdings, Inc.
Condensed Consolidated
Statements of Loss
(In thousands, except per share
data)
(Unaudited)
Three Months Ended March
31,
2024
2023
Revenue:
Subscription
$
64,349
$
55,969
Maintenance and support
3,595
5,712
Total subscription, maintenance and
support
67,944
61,681
Services
12,744
11,501
Total revenue
80,688
73,182
Cost of revenue:
Subscription
14,613
14,093
Maintenance and support
1,862
2,282
Total cost of subscription, maintenance
and support
16,475
16,375
Services
12,358
13,167
Total cost of revenue
28,833
29,542
Gross profit
51,855
43,640
Operating expenses:
Selling and marketing
22,682
26,010
Research and development
24,413
22,291
General and administrative
15,062
14,135
Loss from operations
(10,302
)
(18,796
)
Convertible debt interest and
amortization
(1,202
)
(1,576
)
Other income, net
458
1,451
Loss before income tax provision
(11,046
)
(18,921
)
Income tax provision
311
81
Net loss
$
(11,357
)
$
(19,002
)
Net loss per share:
Basic and diluted
$
(0.24
)
$
(0.41
)
Weighted average number of shares:
Basic and diluted
46,817
45,926
PROS Holdings, Inc.
Condensed Consolidated
Statements of Cash Flows
(In thousands)
(Unaudited)
Three Months Ended March
31,
2024
2023
Operating activities:
Net loss
$
(11,357
)
$
(19,002
)
Adjustments to reconcile net loss to net
cash used in operating activities:
Depreciation and amortization
2,204
3,001
Amortization of debt premium and issuance
costs
(284
)
373
Share-based compensation
12,700
9,904
Provision for credit losses
149
108
Gain on lease modification
(697
)
—
Loss on disposal of assets
774
35
Changes in operating assets and
liabilities:
Accounts and unbilled receivables
(2,098
)
2,239
Deferred costs
606
425
Prepaid expenses and other assets
1,070
(2,505
)
Operating lease right-of-use assets and
liabilities
(848
)
(591
)
Accounts payable and other liabilities
(637
)
(3,793
)
Accrued liabilities
2,327
504
Accrued payroll and other employee
benefits
(16,611
)
(8,174
)
Deferred revenue
8,058
11,333
Net cash used in operating activities
(4,644
)
(6,143
)
Investing activities:
Purchases of property and equipment
(223
)
(1,546
)
Capitalized internal-use software
development costs
(17
)
—
Investment in equity securities
(113
)
—
Net cash used in investing activities
(353
)
(1,546
)
Financing activities:
Proceeds from employee stock plans
1,024
1,137
Tax withholding related to net share
settlement of stock awards
(8,338
)
(4,710
)
Net cash used in financing activities
(7,314
)
(3,573
)
Effect of foreign currency rates on
cash
(13
)
11
Net change in cash, cash equivalents and
restricted cash
(12,324
)
(11,251
)
Cash, cash equivalents and restricted
cash:
Beginning of period
178,747
203,627
End of period
$
166,423
$
192,376
Reconciliation of cash, cash
equivalents and restricted cash to the condensed consolidated
balance sheets
Cash and cash equivalents
$
156,423
$
192,376
Restricted cash
10,000
—
Total cash, cash equivalents and
restricted cash
$
166,423
$
192,376
PROS Holdings, Inc.
Reconciliation of GAAP to
Non-GAAP Financial Measures
(In thousands, except per share
data)
(Unaudited)
We use these non-GAAP financial
measures to assist in the management of the Company because we
believe that this information provides a more consistent and
complete understanding of the underlying results and trends of the
ongoing business due to the uniqueness of these charges.
See breakdown of the reconciling
line items on page 10.
Three Months Ended March
31,
Year over Year
2024
2023
% change
GAAP gross profit
$
51,855
$
43,640
19
%
Non-GAAP adjustments:
Amortization of acquisition-related
intangibles
953
1,337
Severance
—
749
Share-based compensation
1,068
832
Non-GAAP gross profit
$
53,876
$
46,558
16
%
Non-GAAP gross margin
66.8
%
63.6
%
GAAP loss from operations
$
(10,302
)
$
(18,796
)
(45
)%
Non-GAAP adjustments:
Amortization of acquisition-related
intangibles
1,301
1,806
Severance
—
3,586
Share-based compensation
12,700
9,904
Total non-GAAP adjustments
14,001
15,296
Non-GAAP income (loss) from operations
$
3,699
$
(3,500
)
(206
)%
Non-GAAP income (loss) from operations %
of total revenue
4.6
%
(4.8
)%
GAAP net loss
$
(11,357
)
$
(19,002
)
(40
)%
Non-GAAP adjustments:
Total non-GAAP adjustments affecting
income (loss) from operations
14,001
15,296
Amortization of debt premium and issuance
costs
(353
)
373
Tax impact related to non-GAAP
adjustments
(262
)
797
Non-GAAP net income (loss)
$
2,029
$
(2,536
)
(180
)%
Non-GAAP earnings (loss) per share
$
0.04
$
(0.06
)
Shares used in computing non-GAAP earnings
(loss) per share
47,889
45,926
PROS Holdings, Inc.
Supplemental Schedule of
Non-GAAP Financial Measures
Increase (Decrease) in GAAP
Amounts Reported
(In thousands)
(Unaudited)
Three Months Ended March
31,
2024
2023
Cost of Subscription Items
Amortization of acquisition-related
intangibles
953
1,337
Severance
—
125
Share-based compensation
202
125
Total cost of subscription items
$
1,155
$
1,587
Cost of Maintenance Items
Severance
—
307
Share-based compensation
137
80
Total cost of maintenance items
$
137
$
387
Cost of Services Items
Severance
—
317
Share-based compensation
729
627
Total cost of services items
$
729
$
944
Sales and Marketing Items
Amortization of acquisition-related
intangibles
348
469
Severance
—
1,595
Share-based compensation
3,628
2,928
Total sales and marketing items
$
3,976
$
4,992
Research and Development Items
Severance
—
1,008
Share-based compensation
3,531
2,350
Total research and development items
$
3,531
$
3,358
General and Administrative
Items
Severance
—
234
Share-based compensation
4,473
3,794
Total general and administrative items
$
4,473
$
4,028
PROS Holdings, Inc.
Supplemental Reconciliation of
GAAP to Non-GAAP Financial Measures
(In thousands)
(Unaudited)
Three Months Ended March
31,
2024
2023
Adjusted EBITDA
GAAP Loss from Operations
$
(10,302
)
$
(18,796
)
Amortization of acquisition-related
intangibles
1,301
1,806
Severance
—
3,586
Share-based compensation
12,700
9,904
Depreciation and other amortization
903
1,195
Capitalized internal-use software
development costs
(17
)
—
Adjusted EBITDA
$
4,585
$
(2,305
)
Net Cash Used in Operating
Activities
$
(4,644
)
$
(6,143
)
Severance
—
3,170
Purchase of property and equipment
(223
)
(1,546
)
Capitalized internal-use software
development costs
(17
)
—
Free Cash Flow
$
(4,884
)
$
(4,519
)
Guidance
Q2 2024 Guidance
Low
High
Adjusted EBITDA
GAAP Loss from Operations
$
(11,700
)
$
(10,700
)
Amortization of acquisition-related
intangibles
1,300
1,300
Share-based compensation
10,500
10,500
Depreciation and other amortization
900
900
Adjusted EBITDA
$
1,000
$
2,000
Full Year 2024
Guidance
Low
High
Adjusted EBITDA
GAAP Loss from Operations
$
(36,200
)
$
(33,200
)
Amortization of acquisition-related
intangibles
4,400
4,400
Share-based compensation
45,200
45,200
Depreciation and other amortization
3,600
3,600
Adjusted EBITDA
$
17,000
$
20,000
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240507068489/en/
Investor Contact: PROS Investor Relations Belinda
Overdeput 713-335-5879 ir@pros.com
Grafico Azioni Pros (NYSE:PRO)
Storico
Da Gen 2025 a Feb 2025
Grafico Azioni Pros (NYSE:PRO)
Storico
Da Feb 2024 a Feb 2025
