PCOR

MKT CAP:$9B

Procore Technologies, Inc.

Market Cap

$9B

Technology·Software - Application·🇺🇸 United States·NYSE

Technology·Software App·🇺🇸·NYSE

Stock Price

$55.30-$14.74 (-21.05%)

Apr 17, 2026

Company Details

Procore Technologies, Inc. provides a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects,...

CEO

Ajei S. Gopal

IPO Date

May 20, 2021

Website

www.procore.com

Key Metrics TTM

Revenue

$1.3B

+14.8% YoY

Net Income

-$101M

EPS (Diluted)

-$0.67

Free Cash Flow

$263M

Revenue / Share

$8.76

Gross Margin

79.3%

Operating Margin

-9.2%

Net Margin

-7.6%

FCF Margin

19.9%

P/S

6.6x

P/E

—

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Feb 24, 2026

$1.3B+14.8%EPS -$0.67

Q4 2025

Feb 24, 2026

$349M+15.6%EPS -$0.25

Q3 2025

Nov 6, 2025

$339M+14.5%EPS -$0.06

Q2 2025

Aug 1, 2025

$324M+13.9%EPS -$0.14

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$160M	$126M	-$71M
Q2 22	$172M	$135M	-$72M
Q3 22	$186M	$149M	-$72M
Q4 22	$202M	$161M	-$75M
Q1 23	$214M	$173M	-$69M
Q2 23	$229M	$186M	-$59M
Q3 23	$248M	$204M	-$50M
Q4 23	$260M	$212M	-$37M
Q1 24	$269M	$224M	-$19M
Q2 24	$284M	$236M	-$15M
Q3 24	$296M	$241M	-$36M
Q4 24	$302M	$245M	-$66M
Q1 25	$311M	$246M	-$36M
Q2 25	$324M	$256M	-$30M
Q3 25	$339M	$270M	-$15M
Q4 25	$349M	$277M	-$40M

Valuation

Quarter	P/S	P/E
Q1 22	14.1x	—
Q2 22	11.2x	—
Q3 22	10.6x	—
Q4 22	9.3x	—
Q1 23	11.2x	—
Q2 23	11.2x	—
Q3 23	10.8x	—
Q4 23	10.4x	—
Q1 24	11.6x	—
Q2 24	9.1x	—
Q3 24	8.2x	—
Q4 24	9.7x	—
Q1 25	8.3x	—
Q2 25	8.3x	—
Q3 25	8.8x	—
Q4 25	8.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$10M	-$5M
Q2 22	-$27M	-$37M
Q3 22	$7M	-$6M
Q4 22	$23M	$12M
Q1 23	$29M	$19M
Q2 23	-$12M	-$24M
Q3 23	$34M	$22M
Q4 23	$41M	$29M
Q1 24	$69M	$58M
Q2 24	$59M	$47M
Q3 24	$39M	$23M
Q4 24	$29M	$347.0K
Q1 25	$66M	$62M
Q2 25	$31M	$28M
Q3 25	$88M	$83M
Q4 25	$114M	$90M

Capital Expenditures

Quarter	CapEx
Q1 22	$15M
Q2 22	$11M
Q3 22	$13M
Q4 22	$11M
Q1 23	$10M
Q2 23	$12M
Q3 23	$11M
Q4 23	$12M
Q1 24	$12M
Q2 24	$12M
Q3 24	$16M
Q4 24	$29M
Q1 25	$4M
Q2 25	$3M
Q3 25	$5M
Q4 25	$23M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+40.0%	+81.9%
Q2 22	+40.2%	-10.1%
Q3 22	+41.2%	+42.2%
Q4 22	+38.3%	+25.7%
Q1 23	+33.9%	+22.6%
Q2 23	+32.7%	+17.5%
Q3 23	+33.0%	+15.5%
Q4 23	+28.7%	+7.3%
Q1 24	+26.2%	+2.0%
Q2 24	+24.4%	+4.1%
Q3 24	+19.4%	+11.4%
Q4 24	+16.2%	+23.8%
Q1 25	+15.3%	+20.3%
Q2 25	+13.9%	+18.4%
Q3 25	+14.5%	+6.5%
Q4 25	+15.6%	+5.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$37M	23.3%
Q2 22	$34M	19.7%
Q3 22	$45M	24.0%
Q4 22	$47M	23.3%
Q1 23	$45M	21.0%
Q2 23	$42M	18.6%
Q3 23	$45M	18.1%
Q4 23	$43M	16.4%
Q1 24	$40M	14.9%
Q2 24	$49M	17.3%
Q3 24	$48M	16.3%
Q4 24	$52M	17.1%
Q1 25	$48M	15.5%
Q2 25	$56M	17.2%
Q3 25	$56M	16.6%
Q4 25	$78M	22.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$60M	$43M	$94M
Q2 22	$64M	$41M	$103M
Q3 22	$71M	$39M	$110M
Q4 22	$75M	$43M	$118M
Q1 23	$80M	$45M	$117M
Q2 23	$73M	$46M	$125M
Q3 23	$73M	$52M	$130M
Q4 23	$75M	$52M	$123M
Q1 24	$71M	$51M	$121M
Q2 24	$72M	$51M	$128M
Q3 24	$81M	$55M	$141M
Q4 24	$89M	$60M	$162M
Q1 25	$88M	$56M	$139M
Q2 25	$89M	$56M	$142M
Q3 25	$88M	$53M	$144M
Q4 25	$96M	$69M	$156M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	40.0%	-34.7%	5.3
Q2 22	40.2%	-33.2%	7.1
Q3 22	41.2%	-29.2%	12.0
Q4 22	38.3%	-26.9%	11.4
Q1 23	33.9%	-21.6%	12.3
Q2 23	32.7%	-15.2%	17.5
Q3 23	33.0%	-10.3%	22.7
Q4 23	28.7%	-3.3%	25.4
Q1 24	26.2%	3.6%	29.8
Q2 24	24.4%	5.4%	29.9
Q3 24	19.4%	-0.7%	18.7
Q4 24	16.2%	-11.9%	4.3
Q1 25	15.3%	-0.2%	15.1
Q2 25	13.9%	1.9%	15.8
Q3 25	14.5%	6.5%	21.0
Q4 25	15.6%	-2.5%	13.1

Rule of 40

Revenue by Geography

Quarter	Non Us	United States	Non-US
Q1 22	$23M	$136M	—
Q2 22	$25M	$147M	—
Q3 22	$27M	$160M	—
Q4 22	$28M	$174M	—
Q1 23	—	$184M	$30M
Q2 23	—	$196M	$32M
Q3 23	—	$213M	$35M
Q4 23	—	$223M	$37M
Q1 24	—	$230M	$39M
Q2 24	—	$242M	$42M
Q3 24	—	$252M	$44M
Q4 24	—	$258M	$44M
Q1 25	—	$265M	$46M
Q2 25	—	$276M	$48M
Q3 25	—	$289M	$50M
Q4 25	—	$298M	$51M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$587M	$0	$587M
Q2 22	$563M	$0	$563M
Q3 22	$265M	$293M	$558M
Q4 22	$297M	$285M	$582M
Q1 23	$329M	$274M	$603M
Q2 23	$313M	$290M	$603M
Q3 23	$318M	$308M	$626M
Q4 23	$358M	$320M	$678M
Q1 24	$428M	$317M	$745M
Q2 24	$356M	$379M	$735M
Q3 24	$439M	$318M	$757M
Q4 24	$438M	$338M	$775M
Q1 25	$314M	$253M	$567M
Q2 25	$324M	$297M	$621M
Q3 25	$350M	$333M	$684M
Q4 25	$481M	$288M	$768M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	135M	+1.2%	+5.0%
Q2 22	136M	+1.0%	+4.7%
Q3 22	137M	+0.9%	+4.4%
Q4 22	138M	+0.9%	+4.2%
Q1 23	140M	+0.9%	+3.8%
Q2 23	141M	+1.1%	+3.9%
Q3 23	143M	+1.1%	+4.1%
Q4 23	144M	+0.9%	+4.1%
Q1 24	145M	+1.0%	+4.2%
Q2 24	147M	+1.0%	+4.0%
Q3 24	148M	+0.8%	+3.7%
Q4 24	149M	+0.7%	+3.6%
Q1 25	150M	+0.5%	+3.1%
Q2 25	150M	-0.1%	+2.0%
Q3 25	150M	+0.1%	+1.2%
Q4 25	151M	+0.7%	+1.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$55.3K	3K
Q2 22	$59.7K	3K
Q3 22	$64.6K	3K
Q4 22	$56.6K	4K
Q1 23	$59.8K	4K
Q2 23	$64.1K	4K
Q3 23	$69.5K	4K
Q4 23	$70.4K	4K
Q1 24	$72.9K	4K
Q2 24	$77.0K	4K
Q3 24	$80.1K	4K
Q4 24	$71.9K	4K
Q1 25	$73.9K	4K
Q2 25	$77.1K	4K
Q3 25	$80.6K	4K
Q4 25	$79.0K	4K

Revenue / Employee