Procore Technologies, Inc. (PCOR)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$1.4B

Revenue growth

15.4%

Net income, last twelve months

-$38.9M

Earnings per share

-$0.26

Gross margin

80.0%

Operating margin

-4.9%

Net margin

-2.7%

Free cash flow

$347.0M

Return on equity

-3.0%

Market value

$9.4B

Cash

$494.4M

Debt

$0

Debt to equity

0.00

Shares outstanding

151.9M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the second quarter of fiscal 2026 results, filed 29 July 2026.

• Revenue grew 16% to $375 million. Revenue was $375.2 million, up from $323.9 million a year earlier. Six-month revenue was $734.5 million, against $634.6 million.
• GAAP operating income turned positive. GAAP income from operations was $4.3 million, against a loss of $30.3 million a year earlier. GAAP operating margin was 1%, and the six-month GAAP operating loss was $11.3 million.
• GAAP diluted EPS turned positive. GAAP net income was $16.9 million, or $0.11 per diluted share, against a net loss of $21.1 million a year earlier.
• Non-GAAP operating income rose. Non-GAAP income from operations was $80.5 million, against $43.7 million a year earlier. The six-month figure was $141.3 million.
• Gross revenue retention held at 95%. Gross revenue retention rate was 95% in the second quarter, the same rate the company reported for the first quarter.
• Customers above $100,000 ARR rose 14%. Organic customers contributing more than $100,000 of annual recurring revenue totaled 2,871, up from 2,795 at March 31, 2026. Growth was 14% year-over-year, against 16% in the first quarter.
• Portfolio and capital planning tools announced. The company announced new portfolio management and capital planning capabilities for owners managing capital projects.
• Connected data environment launched. A connected Common Data Environment was launched to unify and verify project data.
• AI agents added to platform. An expanded Procore AI experience adds a suite of AI agents, powered by embedded Datagrid intelligence and built into Procore.
• Total remaining obligations rose 24%. Total remaining performance obligations were $1,669,915 thousand at June 30, 2026, up $326,158 thousand or 24% from a year earlier.
• Current and non-current RPO both grew. Current remaining performance obligations were $1,072,490 thousand, up 22%. Non-current remaining performance obligations were $597,425 thousand, up 29%.
• Receivables rose from March. Accounts receivable, net was $241,441 thousand at June 30, 2026, against $184,692 thousand at March 31, 2026 and $287,805 thousand at December 31, 2025.
• Gross margin held at 80%. GAAP gross margin was 80% and non-GAAP gross margin was 84%, the same levels reported for the first quarter.
• Sales and marketing share of revenue fell. Non-GAAP sales and marketing was 34% of revenue, against 37% a year earlier. GAAP sales and marketing was 39% of revenue, against 44%.

Revenue by segment

As the company reports it in the segment note of its annual report.

By region, FY2025

Company events

The newest 8-K filings of 48 held.

Every filing

The newest filings with the SEC of 137 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

515 funds held it at 30 Jun 2026: 187 added and 154 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Microsoft Corp. (MSFT): revenue $346.4B, market value $3.95T
• Palantir Technologies Inc. (PLTR): revenue $6.2B, market value $473.1B
• Oracle Corp. (ORCL): revenue $71.8B, market value $436.3B
• SAP SE (SAP): revenue $41.6B, market value $276.7B
• CrowdStrike Holdings, Inc. (CRWD): revenue $5.4B, market value $273.1B
• Shopify Inc. (SHOP): revenue $13.3B, market value $218.4B
• Salesforce, Inc. (CRM): revenue $43.9B, market value $199.5B
• ServiceNow, Inc. (NOW): revenue $15.4B, market value $155.6B
• Snowflake Inc. (SNOW): revenue $5.4B, market value $119.8B
• Cloudflare, Inc. (NET): revenue $2.5B, market value $113.0B

What the company does

Procore Technologies is a construction management software company based in Carpinteria, California. Its mission, in its own words, is to connect everyone in construction on a global platform, and it calls itself the leading global provider of construction management software. It sells cloud-based products to owners, general contractors and specialty contractors in residential and non-residential construction. As of 31 December 2025 it had 17,850 customers and 4,421 full-time employees. It was incorporated in California in January 2002 and reincorporated in Delaware in June 2014.

How it makes money

Substantially all of its revenue comes from subscriptions to its products. Customers pay a fixed fee. Pricing generally depends on the number and mix of products a customer buys and the annual construction volume the customer contracts to run on the platform. The company offers three contract types: annual contracts, multi-year contracts with volume measured in successive one-year periods, and pooled volume contracts with a flat annual fee based on volume measured over multiple years, typically two or three. Subscriptions typically run one to three years. It does not refund unused construction volume, and it generally does not charge by consumption or by project.

The company does not usually charge per user. Customers can invite owners, contractors, architects and engineers onto a project without extra fees. Those invited participants, called collaborators, do not pay for their use. The company says they have a reason to become customers, because they cannot run their full portfolio of projects on the platform otherwise. Several participants can be customers on the same project, so the company can earn revenue from each of them. Live customer support is free to all users. Optional professional services carry an extra cost.

What it sells

The platform has four product categories:

- Preconstruction: Estimating, Bid Management, 2D/3D Takeoff, Design Coordination and Prequalification. - Project Execution: Project Management, Quality, Safety, Field Scheduling and Closeout. - Resource Management: Field Productivity, Workforce Planning, Equipment Management and Materials Management. - Financial Management: Project Financials, Accounting Integrations and Procore Pay, which handles payments between general contractors and subcontractors.

In February 2026 the company began offering four bundled packages alongside buying products one by one. They are Project Execution, Cost Management, Resource Management and Project Lifecycle Management, each in tiers called Essentials, Base and Enterprise.

Platform capabilities include agentic AI, Analytics & Insights, BIM (Building Information Modeling), Collaboration, Document Management, Ecosystem, Enterprise Flexibility, Maps and Zones. Through its application programming interfaces and App Marketplace, customers connect the products to accounting, document management and scheduling software.

Who buys from it

Core customers are owners, general contractors and specialty contractors. Owners initiate projects and include corporations, universities, government entities and real estate developers. General contractors coordinate the work. Specialty contractors, also called subcontractors, are hired for trades such as mechanical, electrical, plumbing, roofing and concrete. Customers range from small businesses to global enterprises.

Larger customers account for most of the recurring revenue. The company says small and medium-sized business customers represent a small portion of total ARR. Its gross retention rate was 95% as of 31 December 2025.

Where it operates

The company sells mainly through a direct sales team organised by geography, then by size and type of stakeholder. It has regional offices in the United States, Canada, Australia, England, the United Arab Emirates and Ireland, with international offices in Sydney, Toronto, London, Dublin and Dubai. It supports multiple languages and currencies. Non-U.S. revenue was 15% of total revenue, based on each customer's billing location. Its Zones capability lets customers store data in regional locations.

How it competes

The company describes the market as competitive and early in adoption, with many construction firms still using paper, email, fax and spreadsheets. It sees four groups of competitors:

- Aggregated construction management tools from software companies serving several industries. - Accounting software vendors that add project management tools. - Point solution vendors in areas such as analytics, bidding, BIM, compliance and scheduling. - In-house tools built by or for customers.

Some of these vendors' products integrate with the platform and appear in the App Marketplace. The company also grows through small acquisitions, many of them App Marketplace partners. These include Datagrid in 2026, Flypaper Technologies in 2025, Novorender in January 2025, Intelliwave in 2024 and Unearth in 2023.

Its people and intellectual property

Of the 4,421 full-time employees, 3,075 are based in the United States and 1,346 in international locations. The company names three core values: openness, ownership and optimism. It holds 107 issued patents and 90 pending applications in the United States. Abroad it holds 13 issued patents and 28 pending applications, plus 7 pending international applications. Its issued United States patents expire between 2034 and 2046. It also holds trademarks and hosts Groundbreak, its annual construction technology conference.

*From Procore's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/1611052/000162828026011055/pcor-20251231.htm)*

From the company's 10-K.