Procore Technologies Inc Financials

PCOR

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Procore Technologies Inc (PCOR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 59/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Procore Technologies Inc has an operating margin of -11.8%, meaning the company retains $-12 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -22.7% the prior year.

Growth

Procore Technologies Inc's revenue surged 21.2% year-over-year to $1.2B, reflecting rapid business expansion. This strong growth earns a score of 89/100.

Leverage

Procore Technologies Inc carries a low D/E ratio of 0.63, meaning only $0.63 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 88/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Procore Technologies Inc's current ratio of 1.51 indicates adequate short-term liquidity, earning a score of 40/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Procore Technologies Inc converts 15.4% of revenue into free cash flow ($177.0M). This strong cash generation earns a score of 77/100.

Piotroski F-Score Neutral

6/9

Procore Technologies Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-1.85x

For every $1 of reported earnings, Procore Technologies Inc generates $-1.85 in operating cash flow ($196.2M OCF vs -$106.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-71.8x

Procore Technologies Inc earns $-71.8 in operating income for every $1 of interest expense (-$136.4M vs $1.9M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$1.2B

YoY+21.2%

5Y CAGR+31.8%

Procore Technologies Inc generated $1.2B in revenue in fiscal year 2024. This represents an increase of 21.2% from the prior year.

EBITDA

-$46.7M

YoY+67.6%

Procore Technologies Inc's EBITDA was -$46.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 67.6% from the prior year.

Free Cash Flow

$177.0M

YoY+116.7%

Procore Technologies Inc generated $177.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 116.7% from the prior year.

Net Income

-$106.0M

YoY+44.1%

Procore Technologies Inc reported -$106.0M in net income in fiscal year 2024. This represents an increase of 44.1% from the prior year.

EPS (Diluted)

$-0.72

YoY+46.3%

Procore Technologies Inc earned $-0.72 per diluted share (EPS) in fiscal year 2024. This represents an increase of 46.3% from the prior year.

Cash & Debt

$437.7M

YoY+22.3%

5Y CAGR+29.9%

Procore Technologies Inc held $437.7M in cash against $0 in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

150M

YoY+3.5%

Procore Technologies Inc had 150M shares outstanding in fiscal year 2024. This represents an increase of 3.5% from the prior year.

Gross Margin

82.2%

YoY+0.5pp

5Y CAGR+0.5pp

Procore Technologies Inc's gross margin was 82.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.5 percentage points from the prior year.

Operating Margin

-11.8%

YoY+10.9pp

5Y CAGR+16.7pp

Procore Technologies Inc's operating margin was -11.8% in fiscal year 2024, reflecting core business profitability. This is up 10.9 percentage points from the prior year.

Net Margin

-9.2%

YoY+10.8pp

5Y CAGR+19.5pp

Procore Technologies Inc's net profit margin was -9.2% in fiscal year 2024, showing the share of revenue converted to profit. This is up 10.8 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$313.0M

YoY+4.1%

5Y CAGR+29.2%

Procore Technologies Inc invested $313.0M in research and development in fiscal year 2024. This represents an increase of 4.1% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$19.1M

YoY+85.4%

5Y CAGR+8.0%

Procore Technologies Inc invested $19.1M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 85.4% from the prior year.

PCOR Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.2B+21.2%	$950.0M+31.9%	$720.2M+39.9%	$514.8M+28.6%	$400.3M+38.4%	$289.2M
Cost of Revenue	$205.6M+17.9%	$174.5M+17.5%	$148.4M+51.0%	$98.3M+37.2%	$71.7M+34.8%	$53.2M
Gross Profit	$946.1M+22.0%	$775.5M+35.6%	$571.8M+37.3%	$416.5M+26.7%	$328.6M+39.2%	$236.0M
R&D Expenses	$313.0M+4.1%	$300.6M+10.9%	$271.0M+14.2%	$237.3M+90.3%	$124.7M+43.3%	$87.0M
SG&A Expenses	$217.5M+11.1%	$195.7M+17.7%	$166.3M+6.2%	$156.6M+113.2%	$73.5M+26.3%	$58.2M
Operating Income	-$136.4M+36.7%	-$215.7M+25.7%	-$290.5M-1.6%	-$285.9M-388.5%	-$58.5M+29.2%	-$82.6M
Interest Expense	$1.9M-3.0%	$2.0M-8.3%	$2.1M-8.3%	$2.3M-1.1%	$2.4M+153.0%	$930K
Income Tax	$1.8M+39.4%	$1.3M+173.2%	$466K+102.0%	-$23.8M-2292.5%	-$993K-1498.6%	$71K
Net Income	-$106.0M+44.1%	-$189.7M+33.9%	-$286.9M-8.2%	-$265.2M-175.7%	-$96.2M-15.7%	-$83.1M
EPS (Diluted)	$-0.72+46.3%	$-1.34+36.2%	$-2.10+26.6%	$-2.86	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$338.9M+4.6%	$323.9M+4.3%	$310.6M+2.8%	$302.0M+6.2%	$284.3M+5.5%	$269.4M+3.6%	$260.0M+4.9%	$247.9M
Cost of Revenue	$68.8M+1.5%	$67.7M+4.3%	$64.9M+14.2%	$56.8M+18.2%	$48.1M+5.2%	$45.7M-4.4%	$47.8M+8.4%	$44.1M
Gross Profit	$270.1M+5.4%	$256.2M+4.3%	$245.7M+0.2%	$245.2M+3.8%	$236.2M+5.6%	$223.7M+5.4%	$212.2M+4.1%	$203.8M
R&D Expenses	$88.0M-1.0%	$88.9M+1.5%	$87.6M-1.9%	$89.3M+23.5%	$72.3M+2.4%	$70.6M-5.4%	$74.6M+2.6%	$72.7M
SG&A Expenses	$52.8M-5.2%	$55.7M0.0%	$55.7M-7.9%	$60.4M+19.0%	$50.8M-0.4%	$51.0M-2.7%	$52.4M+1.3%	$51.8M
Operating Income	-$15.0M+50.3%	-$30.3M+16.5%	-$36.2M+45.3%	-$66.2M-348.3%	-$14.8M+21.8%	-$18.9M+49.4%	-$37.3M+25.9%	-$50.4M
Interest Expense	$276K-7.4%	$298K+4.6%	$285K-38.0%	$460K-2.5%	$472K-1.5%	$479K-0.2%	$480K-2.0%	$490K
Income Tax	$479K+216.5%	-$411K-107.8%	$5.3M+285.0%	$1.4M+180.6%	$490K+86.3%	$263K-62.4%	$700K+262.7%	$193K
Net Income	-$9.1M+56.8%	-$21.1M+36.1%	-$33.0M+47.0%	-$62.3M-887.0%	-$6.3M+42.4%	-$11.0M+62.9%	-$29.5M+32.7%	-$43.8M
EPS (Diluted)	$-0.06+57.1%	$-0.14+36.4%	$-0.22+47.6%	$-0.42-950.0%	$-0.04+50.0%	$-0.08+61.9%	$-0.21+32.3%	$-0.31

PCOR Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$2.1B+11.0%	$1.9B+8.8%	$1.7B+2.9%	$1.7B+106.0%	$820.8M	N/A
Current Assets	$1.1B+15.1%	$955.7M+19.6%	$799.2M+6.2%	$752.3M+54.2%	$488.0M	N/A
Cash & Equivalents	$437.7M+22.3%	$357.8M+20.6%	$296.7M-49.4%	$586.1M+54.3%	$379.9M+220.7%	$118.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$246.5M+19.3%	$206.6M+39.0%	$148.7M+30.5%	$114.0M+46.7%	$77.7M	N/A
Goodwill	$549.7M+1.9%	$539.4M0.0%	$539.1M-0.3%	$540.9M+329.4%	$126.0M+10.0%	$114.5M
Total Liabilities	$813.0M+10.2%	$738.0M+18.3%	$623.6M+24.4%	$501.4M-54.1%	$1.1B	N/A
Current Liabilities	$728.0M+13.3%	$642.4M+20.8%	$531.6M+31.7%	$403.7M+54.3%	$261.7M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.3B+11.5%	$1.2B+3.5%	$1.1B-6.1%	$1.2B+537.1%	-$272.1M-7.2%	-$253.8M
Retained Earnings	-$1.2B-9.3%	-$1.1B-20.0%	-$949.1M-43.3%	-$662.2M-66.8%	-$397.0M	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$2.1B+2.7%	$2.0B+2.8%	$1.9B-7.3%	$2.1B+6.8%	$2.0B+4.7%	$1.9B-0.8%	$1.9B+6.2%	$1.8B
Current Assets	$1.0B+10.2%	$912.5M+11.8%	$816.5M-25.8%	$1.1B+13.8%	$966.5M+1.2%	$954.9M-0.1%	$955.7M+13.5%	$841.9M
Cash & Equivalents	$350.5M+8.1%	$324.3M+3.4%	$313.7M-28.3%	$437.7M+22.9%	$356.2M-16.7%	$427.7M+19.5%	$357.8M+12.4%	$318.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$205.8M+6.0%	$194.1M+20.1%	$161.6M-34.4%	$246.5M+55.3%	$158.7M+14.2%	$139.0M-32.7%	$206.6M+41.8%	$145.7M
Goodwill	$573.9M0.0%	$574.1M+0.1%	$573.4M+4.3%	$549.7M-0.1%	$550.4M+2.1%	$539.1M0.0%	$539.4M0.0%	$539.1M
Total Liabilities	$834.5M+6.1%	$786.5M+2.5%	$767.1M-5.7%	$813.0M+14.3%	$711.2M+3.8%	$685.0M-7.2%	$738.0M+11.9%	$659.3M
Current Liabilities	$754.0M+6.8%	$705.9M+3.0%	$685.6M-5.8%	$728.0M+16.5%	$624.8M+5.0%	$595.0M-7.4%	$642.4M+14.4%	$561.6M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$1.2B+0.5%	$1.2B+3.0%	$1.2B-8.3%	$1.3B+2.6%	$1.3B+5.2%	$1.2B+3.3%	$1.2B+2.8%	$1.1B
Retained Earnings	-$1.3B-0.7%	-$1.3B-1.7%	-$1.3B-2.7%	-$1.2B-7.7%	-$1.2B-0.5%	-$1.1B-1.0%	-$1.1B-2.7%	-$1.1B

PCOR Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$196.2M+113.2%	$92.0M+629.8%	$12.6M-65.7%	$36.7M+68.1%	$21.9M+412.0%	-$7.0M
Capital Expenditures	$19.1M+85.4%	$10.3M-34.6%	$15.8M+27.4%	$12.4M+71.9%	$7.2M-44.8%	$13.1M
Free Cash Flow	$177.0M+116.7%	$81.7M+2673.7%	-$3.2M-113.0%	$24.3M+66.2%	$14.7M+173.0%	-$20.1M
Investing Cash Flow	-$150.1M-97.4%	-$76.1M+77.7%	-$340.5M+37.2%	-$541.8M-1516.7%	-$33.5M+49.7%	-$66.7M
Financing Cash Flow	$36.2M-12.0%	$41.2M+6.5%	$38.7M-94.6%	$711.8M+161.6%	$272.1M+193.4%	$92.8M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$88.5M+187.0%	$30.8M-53.3%	$66.0M+127.2%	$29.1M-50.5%	$58.7M-15.1%	$69.1M+69.7%	$40.7M+21.0%	$33.7M
Capital Expenditures	$5.4M+81.2%	$3.0M-26.2%	$4.0M-65.3%	$11.6M+520.8%	$1.9M-10.3%	$2.1M-7.2%	$2.3M-33.4%	$3.4M
Free Cash Flow	$83.1M+198.3%	$27.9M-55.1%	$62.0M+255.8%	$17.4M-69.3%	$56.8M-15.3%	$67.1M+74.2%	$38.5M+27.1%	$30.3M
Investing Cash Flow	-$14.6M+13.8%	-$17.0M+73.3%	-$63.5M-54.3%	-$41.2M+71.9%	-$146.6M-3039.7%	-$4.7M+73.3%	-$17.5M+43.4%	-$30.9M
Financing Cash Flow	-$40.0M-636.8%	-$5.4M+95.7%	-$126.4M-1015.9%	$13.8M-12.4%	$15.8M+136.0%	$6.7M-54.0%	$14.5M+299.3%	$3.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$25.7M+719.4%	$3.1M-96.9%	$100.0M	$0	$0	$0	N/A	N/A

PCOR Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	82.2%+0.5pp	81.6%+2.2pp	79.4%-1.5pp	80.9%-1.2pp	82.1%+0.5pp	81.6%
Operating Margin	-11.8%+10.9pp	-22.7%+17.6pp	-40.3%+15.2pp	-55.5%-40.9pp	-14.6%+14.0pp	-28.6%
Net Margin	-9.2%+10.8pp	-20.0%+19.9pp	-39.8%+11.7pp	-51.5%-27.5pp	-24.0%+4.7pp	-28.7%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-5.0%+5.0pp	-10.0%+6.5pp	-16.5%-0.8pp	-15.7%-4.0pp	-11.7%	N/A
Current Ratio	1.51+0.0	1.49-0.0	1.50-0.4	1.860.0	1.86	N/A
Debt-to-Equity	0.630.0	0.64+0.1	0.56+0.1	0.42+4.4	-4.02	N/A
FCF Margin	15.4%+6.8pp	8.6%+9.0pp	-0.4%-5.2pp	4.7%+1.1pp	3.7%+10.6pp	-6.9%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	79.7%+0.6pp	79.1%0.0pp	79.1%-2.1pp	81.2%-1.9pp	83.1%+0.0pp	83.0%+1.4pp	81.6%-0.6pp	82.2%
Operating Margin	-4.4%+4.9pp	-9.3%+2.3pp	-11.7%+10.3pp	-21.9%-16.7pp	-5.2%+1.8pp	-7.0%+7.3pp	-14.4%+5.9pp	-20.3%
Net Margin	-2.7%+3.8pp	-6.5%+4.1pp	-10.6%+10.0pp	-20.6%-18.4pp	-2.2%+1.8pp	-4.1%+7.3pp	-11.3%+6.3pp	-17.7%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-0.4%+0.6pp	-1.1%+0.6pp	-1.7%+1.3pp	-3.0%-2.6pp	-0.3%+0.3pp	-0.6%+1.0pp	-1.6%+0.9pp	-2.5%
Current Ratio	1.33+0.0	1.29+0.1	1.19-0.3	1.51-0.0	1.55-0.1	1.60+0.1	1.49-0.0	1.50
Debt-to-Equity	0.68+0.0	0.650.0	0.65+0.0	0.63+0.1	0.570.0	0.57-0.1	0.64+0.1	0.59
FCF Margin	24.5%+15.9pp	8.6%-11.4pp	20.0%+14.2pp	5.8%-14.2pp	20.0%-4.9pp	24.9%+10.1pp	14.8%+2.6pp	12.2%

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Frequently Asked Questions

What is Procore Technologies Inc's annual revenue?

Procore Technologies Inc (PCOR) reported $1.2B in total revenue for fiscal year 2024. This represents a 21.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Procore Technologies Inc's revenue growing?

Procore Technologies Inc (PCOR) revenue grew by 21.2% year-over-year, from $950.0M to $1.2B in fiscal year 2024.

Is Procore Technologies Inc profitable?

No, Procore Technologies Inc (PCOR) reported a net income of -$106.0M in fiscal year 2024, with a net profit margin of -9.2%.

What is Procore Technologies Inc's earnings per share (EPS)?

Procore Technologies Inc (PCOR) reported diluted earnings per share of $-0.72 for fiscal year 2024. This represents a 46.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Procore Technologies Inc's EBITDA?

Procore Technologies Inc (PCOR) had EBITDA of -$46.7M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is Procore Technologies Inc's gross margin?

Procore Technologies Inc (PCOR) had a gross margin of 82.2% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

What is Procore Technologies Inc's operating margin?

Procore Technologies Inc (PCOR) had an operating margin of -11.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Procore Technologies Inc's net profit margin?

Procore Technologies Inc (PCOR) had a net profit margin of -9.2% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Procore Technologies Inc's free cash flow?

Procore Technologies Inc (PCOR) generated $177.0M in free cash flow during fiscal year 2024. This represents a 116.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Procore Technologies Inc's operating cash flow?

Procore Technologies Inc (PCOR) generated $196.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Procore Technologies Inc's total assets?

Procore Technologies Inc (PCOR) had $2.1B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Procore Technologies Inc's capital expenditures?

Procore Technologies Inc (PCOR) invested $19.1M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Procore Technologies Inc spend on research and development?

Procore Technologies Inc (PCOR) invested $313.0M in research and development during fiscal year 2024.

How many shares does Procore Technologies Inc have outstanding?

Procore Technologies Inc (PCOR) had 150M shares outstanding as of fiscal year 2024.

What is Procore Technologies Inc's current ratio?

Procore Technologies Inc (PCOR) had a current ratio of 1.51 as of fiscal year 2024, which is generally considered healthy.

What is Procore Technologies Inc's debt-to-equity ratio?

Procore Technologies Inc (PCOR) had a debt-to-equity ratio of 0.63 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Procore Technologies Inc's return on assets (ROA)?

Procore Technologies Inc (PCOR) had a return on assets of -5.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Procore Technologies Inc's Piotroski F-Score?

Procore Technologies Inc (PCOR) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Procore Technologies Inc's earnings high quality?

Procore Technologies Inc (PCOR) has an earnings quality ratio of -1.85x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Procore Technologies Inc cover its interest payments?

Procore Technologies Inc (PCOR) has an interest coverage ratio of -71.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Procore Technologies Inc?

Procore Technologies Inc (PCOR) scores 59 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.