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PCOR

Procore Technologies, Inc.

PCOR

Procore Technologies, Inc. • NYSE
$74.06 ▲ 0.31% (+0.23)
Market Cap $11.09 B
52w High $88.92
52w Low $53.71
Dividend Yield 0%
P/E -88.17
Volume 398.65K
Outstanding Shares 149.79M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $338.851M ▲ $285.119M ▼ $-9.101M ▲ -2.686% ▲ $-0.061 ▲ $22.016M ▲
Q2-2025 $323.919M ▲ $286.454M ▲ $-21.089M ▲ -6.511% ▲ $-0.14 ▲ $6.035M ▲
Q1-2025 $310.632M ▲ $281.951M ▼ $-32.989M ▲ -10.62% ▲ $-0.22 ▲ $-555K ▲
Q4-2024 $302.048M ▲ $311.458M ▲ $-62.291M ▼ -20.623% ▼ $-0.42 ▼ $-35.83M ▼
Q3-2024 $295.885M $277.428M $-26.388M -8.918% $-0.18 $-2.02M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $683.976M ▲ $2.058B ▲ $834.46M ▲ $1.224B ▲
Q2-2025 $620.88M ▲ $2.004B ▲ $786.502M ▲ $1.218B ▲
Q1-2025 $566.69M ▼ $1.949B ▼ $767.067M ▼ $1.182B ▼
Q4-2024 $775.395M ▲ $2.101B ▲ $813.018M ▲ $1.288B ▲
Q3-2024 $756.948M $2.019B $733.088M $1.286B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-9.101M ▲ $88.472M ▲ $-14.618M ▲ $-39.966M ▼ $33.098M ▲ $83.08M ▲
Q2-2025 $-21.089M ▲ $30.828M ▼ $-16.951M ▲ $-5.424M ▲ $10.528M ▲ $27.853M ▼
Q1-2025 $-32.989M ▲ $66.028M ▲ $-63.511M ▼ $-126.38M ▼ $-123.988M ▼ $61.995M ▲
Q4-2024 $-62.291M ▼ $29.056M ▼ $-41.162M ▼ $13.798M ▲ $-1.576M ▼ $347K ▼
Q3-2024 $-26.388M $39.276M $42.349M $5K $83.059M $23.008M

Five-Year Company Overview

Income Statement

Income Statement Procore has grown its revenue rapidly every year, showing strong demand for its construction software platform. Gross margins are high and stable, which is typical of scalable cloud software and suggests good pricing power and operating leverage potential. The company is still reporting accounting losses, but operating and net losses have been shrinking steadily, and profitability metrics are moving in the right direction. Overall, the story on the income statement is one of a high‑growth software business transitioning from heavy investment toward improving efficiency and a clearer line of sight to break‑even.

Balance Sheet

Balance Sheet The balance sheet looks solid and conservative. Total assets have been building over time, and shareholder equity has moved from negative a few years ago to comfortably positive, reflecting capital raised and accumulated growth. Cash levels are healthy relative to the very modest amount of debt, meaning the company is not heavily reliant on borrowing to fund operations. This gives Procore financial flexibility to keep investing through economic cycles, though it still needs continued growth and margin improvement to fully absorb its cost base.

Cash Flow

Cash Flow Despite reporting accounting losses, Procore has been consistently generating cash from its core operations, and that cash generation has strengthened meaningfully in the last couple of years. Free cash flow has turned clearly positive and is improving, while spending on capital investments remains relatively modest and stable. This pattern is typical of a mature SaaS model where upfront sales and subscription billings support cash inflows ahead of reported earnings. Taken together, the cash flow profile suggests the business is becoming self‑funding and less dependent on external capital, which reduces financial risk.

Competitive Edge

Competitive Edge Procore occupies a strong niche as a specialized, end‑to‑end construction management platform rather than a general‑purpose software tool. Its unified system, large installed base, and extensive network of owners, general contractors, and subcontractors create meaningful network effects and make it hard for customers to switch once embedded. An open ecosystem with many integrations, a reputation for usability, and an unlimited‑user model further deepen customer reliance and loyalty. The main strategic risks are intensifying competition from large software vendors, potential pricing pressure, and exposure to the health of the construction industry and large enterprise customers.

Innovation and R&D

Innovation and R&D Innovation is a core part of Procore’s strategy, with heavy emphasis on AI, advanced analytics, and richer 3D/BIM capabilities. The company is layering intelligence onto its platform through tools like Procore Helix and Copilot, and enabling custom AI agents, which can deepen user engagement and automate routine work. Acquisitions in 3D visualization and design coordination, plus embedded financial tools such as Procore Pay, show a push to control more of the construction workflow and financial stack. The trade‑off is that sustained high investment in R&D can weigh on near‑term profitability, but it also helps defend and extend the company’s moat over time.

Summary

Procore combines a fast‑growing, high‑margin software model with a balance sheet that is cash‑rich and lightly levered, and cash flows that have turned sustainably positive. The business is moving along a typical path for successful SaaS companies: rapid top‑line expansion, followed by gradual improvement in operating efficiency and narrowing losses. Its competitive strengths—network effects, switching costs, and a deeply integrated platform tailored to construction—are supported by an active innovation agenda in AI, BIM, and embedded payments. The key things to monitor going forward are the pace of margin improvement, the durability of growth as the company scales and expands internationally, and how well it navigates competitive pressures and the cyclical nature of construction demand.

NEWS

November 5, 2025 · 4:05 PM UTC

Procore Announces Third Quarter 2025 Financial Results

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October 16, 2025 · 4:05 PM UTC

Procore Announces Timing of Third Quarter Fiscal Year 2025 Earnings Call

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October 15, 2025 · 10:00 AM UTC

Procore Advances the Future of Construction with New AI Innovations at Groundbreak 2025

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October 15, 2025 · 8:56 AM UTC

EarthCam Premieres Ninth-Generation Procore Integration with AI Visual Intelligence

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October 13, 2025 · 9:54 AM UTC

Voice AI Transforms Jobsite Reporting – Benetics AI Expands at Procore Groundbreak 2025

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