Procore Technologies Inc Stock Price, News & Analysis

Procore Technologies (NYSE: PCOR) announced its third quarter 2024 financial results with a revenue of $296 million, marking a 19% increase year-over-year. The GAAP gross margin stood at 81%, while the non-GAAP gross margin was 85%. The GAAP operating margin was (12%) and the non-GAAP operating margin was 9%. The company reported an operating cash inflow of $39 million and a free cash inflow of $23 million for the quarter.

Procore achieved a gross revenue retention rate of 94%, with 2,261 organic customers contributing over $100,000 annually, a growth of 18% year-over-year. The total number of organic customers reached 16,975.

Looking ahead, Procore expects Q4 2024 revenue between $296 million and $298 million, with a non-GAAP operating margin of 3% to 4%. For the full year 2024, revenue is projected between $1,146 million and $1,148 million, with a non-GAAP operating margin of 10.5% to 11%. For 2025, revenue is expected to be at least $1,275 million, with a non-GAAP operating margin of 13%.

Procore Technologies, Inc. (NYSE: PCOR), a leading global provider of construction management software, has announced the timing for its third quarter fiscal year 2024 earnings call and its 2024 Investor Day. The earnings call will take place on October 30, 2024 at 2:00 p.m. Pacific Time, following the release of financial results after market close. To join the call, dial +1 833 470 1428 (domestic) or +1 404 975 4839 (international) with conference ID 681120.

The 2024 Investor Day is scheduled for November 21, 2024 from 9:00 a.m. to 12:30 p.m. Mountain Time, coinciding with Procore's annual Groundbreak conference in Denver, Colorado. The event will feature presentations from CEO Tooey Courtemanche, CFO Howard Fu, and other leadership team members, covering Procore's industry, platform, and financials. Both events will be accessible via live webcast on Procore's Investor Relations website.

Procore Technologies (NYSE: PCOR), a global leader in construction management software, has announced an investor call with Chief Revenue Officer Larry Stack. The call is scheduled for Friday, August 16, 2024, at 1:00 p.m. Pacific time. This event follows Procore's Q2 FY2024 earnings call and aims to address shareholder questions.

Investors interested in participating in the webinar should email ir@procore.com to gain access. This call provides an opportunity for shareholders to engage directly with Procore's leadership and gain further insights into the company's performance and strategy following its quarterly financial results.

Procore Technologies (NYSE: PCOR) reported strong financial results for Q2 2024. Revenue increased 24% year-over-year to $284 million. The company achieved a non-GAAP gross margin of 87% and a non-GAAP operating margin of 17.6%. Procore's customer base grew, with 2,191 customers contributing over $100,000 in annual recurring revenue, up 20% year-over-year. The company added 152 net new organic customers, reaching a total of 16,750.

For Q3 2024, Procore expects revenue between $286-$288 million and a non-GAAP operating margin of 9-10%. The full-year 2024 outlook projects revenue of $1,141-$1,144 million, representing 20% growth, with a non-GAAP operating margin of 10-11%.

Procore Technologies, Inc. (NYSE: PCOR), a leading construction management software provider, has initiated the Federal Risk and Authorization Management Program (FedRAMP) authorization process for its platform and solutions. This move demonstrates Procore's commitment to delivering high-level security and data compliance for federal customers and contractors.

Procore has made strategic investments and built a security practice to prepare for FedRAMP compliance, which will benefit customers across its product suite. The company has partnered with Coalfire, a global cybersecurity and compliance services firm, to support the authorization process. Coalfire has a strong track record in FedRAMP compliance, with all its submitted builds passing the Third Party Assessment Organization (3PAO) audit.

Procore Technologies (NYSE: PCOR), a global leader in construction management software, announced that it will release its second quarter fiscal year 2024 financial results on August 1, 2024, after U.S. markets close. On the same day, at 2:00 p.m. PT, Procore will hold a conference call to discuss these results and provide financial guidance. Interested parties can join the call using the provided domestic and international numbers, and the conference ID 126476. A live webcast and replay will be available on Procore's Investor Relations page.

Procore Technologies, a leader in construction management software, announced major product advancements at Innovation Summit 2024.

Highlights include enhanced AI integration, such as Procore Copilot AI which integrates with Microsoft Teams for seamless project data access. AI Locations will automate project location lists from drawings, while Procore Maps offers visual data insights for project optimization.

All advancements aim to improve collaboration, field productivity, and cost efficiency in the construction industry.

These updates reinforce Procore's commitment to leveraging AI and data to drive innovation.

Procore Technologies, Inc. (NYSE: PCOR) reported strong first quarter 2024 financial results with $269 million in revenue, a 26% year-over-year increase. The company achieved an 83% GAAP gross margin and added 231 net new organic customers. Procore also ranked #8 among G2's Top 100 Best Global Software Companies of 2024. The company provided optimistic outlooks for the second quarter and full year 2024, expecting revenue growth and positive non-GAAP operating margins.