Welcome to our dedicated page for Procore Technologies news (Ticker: PCOR), a resource for investors and traders seeking the latest updates and insights on Procore Technologies stock.
News and disclosures about Procore Technologies, Inc. (NYSE: PCOR) focus on its role as a cloud-based construction management software company and technology partner for every stage of construction. This page aggregates news releases, earnings announcements, and other updates that highlight how Procore’s unified platform and AI capabilities are being used across the construction industry.
Readers can find coverage of Procore’s financial results, including quarterly earnings releases that discuss revenue, margins, cash flow, and key performance indicators such as gross revenue retention and customer counts. These releases often include commentary from company leadership on operating performance, profitability, and the use of non-GAAP financial measures and free cash flow to evaluate the business.
News items also describe product and technology developments, such as the introduction of Procore Helix, Procore Assist, and Procore Agent Builder. Articles detail new AI features like photo intelligence, multilingual and mobile support, and custom AI agents that automate tasks such as RFIs, submittals, and daily logs. Announcements about FedRAMP progress and Procore for Government provide insight into the company’s efforts to serve U.S. public sector agencies and their contractors.
In addition, the news feed includes information on strategic collaborations and leadership changes. Examples include the multi-year strategic collaboration agreement with Amazon Web Services, which supports AI, data operability, and analytics initiatives, and the availability of Procore’s platform in AWS Marketplace. Leadership and governance updates, such as the appointment of Ajei S. Gopal as CEO and Board changes, are also reported through press releases and SEC-linked announcements.
Investors, construction professionals, and other interested readers can use this page to follow Procore’s earnings calls, product launches, industry partnerships, and corporate governance updates related to PCOR stock.
Procore Technologies (NYSE: PCOR) announces a partnership with Associated Builders and Contractors (ABC) to provide ABC chapters and members exclusive discounts on Procore products. This collaboration aims to enhance technology adoption among ABC's 21,000 member companies, improving profitability, safety, and efficiency. Procore has been engaged with ABC since 2016, emphasizing its commitment to advancing the construction industry through technology. The partnership underscores Procore's vision to build smarter and more efficient project management solutions.
Procore Technologies (NYSE: PCOR) released new research indicating that over half (53%) of Australian construction leaders find it challenging to monitor quality assurance without integrated data management tools. This marks an increase from 2020. The survey of 153 leaders highlights a growing recognition of data's role in enhancing project quality and compliance. Despite three-quarters of respondents using some software, reliance on paper records remains a concern, particularly in health and safety management. A push for improved data utilization is evident, with many identifying cost-saving potential through better data analytics.
Procore Technologies (NYSE: PCOR) was recognized in the G2 2021 Fall Report, maintaining its leadership across various software categories, including construction management and accounting. Impressively, 97% of users rated Procore's platform 4 or 5 stars. Additionally, 92% of users are likely to recommend the software, and 93% believe it is progressing positively. The report highlights Procore's commitment to user satisfaction and seamless integration in construction management, further solidifying its position as a top choice for industry professionals.
Procore Technologies, Inc. (NYSE: PCOR) has announced that The Shaw Group Ltd. is adopting its construction management platform to enhance communication and real-time safety monitoring on projects. The Shaw Group aims to digitize its operations, facilitating operational efficiency and improved employee safety. The integration will enable real-time reporting of safety issues and provide a unified information source, improving access for all stakeholders. Procore's Analytics will later assist in monitoring project financial health, ensuring schedules and costs remain aligned.
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Procore Technologies, Inc. (NYSE: PCOR) reported second quarter earnings for 2021, showcasing a 27% year-over-year revenue growth to $122.8 million. The GAAP gross margin stood at 79%, while the non-GAAP gross margin reached 84%. Although operating margins were negative at (121%) for GAAP and (4%) for non-GAAP, the company added 481 new customers, bringing the total to 11,149. Procore also announced plans for revenue between $125 million and $127 million for Q3 and $496 million to $499 million for the full year.
Procore Technologies, Inc. (NYSE: PCOR) has launched its global ERP Connector platform and four new Procore-built accounting integrations. This platform enables real-time financial insights by connecting project financial data directly to users’ enterprise resource planning systems. Over 50% of companies still use spreadsheets for ERP workflows, which can lead to inefficiencies. Procore addresses this gap by allowing customers to choose from nine accounting connectors, enhancing collaboration and operational efficiency. The new integrations facilitate accurate data synchronization, minimizing manual entry and potential errors.
Procore Technologies, Inc. (NYSE: PCOR) will release its Q2 fiscal year 2021 financial results after market close on August 5, 2021. Following the announcement, a conference call is scheduled at 3:00 p.m. Pacific Time to discuss the results and future guidance. Procore is a leader in construction management software, with over 1 million projects and more than $1 trillion in construction volume on its platform. The call can be accessed via phone or through a live webcast on the company's Investor Relations page.
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Procore Technologies (NYSE: PCOR) has been selected as the construction management platform by ELEVATE Build, a boutique firm specializing in high-end commercial spaces. ELEVATE aims to enhance operational efficiency and customer service while reducing administrative costs by approximately $45,000 CAD annually with Procore's comprehensive features. The partnership highlights Procore's commitment to innovation, as ELEVATE continues to explore new functionalities to streamline its operations. Procore has powered over 1 million projects globally, showcasing its strong presence in the construction management software industry.
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