Procore Technologies Inc Stock Price, News & Analysis

Procore Technologies Inc. (NYSE: PCOR) has been selected by Dexel, a design-build multi-family residential developer in Halifax, to serve as its construction management platform. Dexel aims to enhance project management and safety while streamlining operations. Struggling with outdated systems, Dexel chose Procore for its integrated platform that meets their project needs. Procore's tools will support faster information sharing with contractors and facilitate team growth.

Procore Technologies, Inc. (NYSE: PCOR) reported strong financial results for Q4 and FY 2021, with Q4 revenue of $146 million, a 33% increase year-over-year. For the full year, revenue reached $515 million, up 29%. Gross margins stood at 80% (GAAP) and 83% (non-GAAP). The company added 588 organic customers in Q4, totaling 12,193, while achieving a gross revenue retention rate exceeding 95%. Looking ahead, 2022 revenue is projected between $661 million to $666 million. Despite operating losses, Procore remains positioned for growth with significant investments and customer demand.

Procore Technologies, Inc. (NYSE: PCOR) will announce its fourth quarter fiscal year 2021 financial results on February 22, 2022, after the U.S. markets close. A conference call will follow at 2:00 p.m. Pacific Time to discuss the results and financial guidance, accessible via phone or on Procore's Investor Relations website. Procore, a leader in construction management software, has facilitated over 1 million projects and managed more than $1 trillion in construction volume.

Procore Technologies (NYSE: PCOR) has been named the number one construction project management software by the 2021 JBKnowledge Construction Technology Report for the fifth consecutive year. The report highlights Procore's solutions' positive impact on the construction industry, affirming its leadership in mobile solutions for daily reporting and safety management. Procore's cloud-based platform integrates over 300 applications, enhancing productivity and financial transparency across projects. With over 1 million projects and more than $1 trillion in construction volume managed, Procore continues to shape the industry's technological landscape.

Procore Technologies has appointed Erin Chapple, a Microsoft Executive, to its Board of Directors. Chapple, currently the Corporate Vice President of Azure Core at Microsoft, brings over two decades of experience in technology. She aims to enhance Procore's platform, facilitating better collaboration in the construction industry. Procore manages over 1 million projects with a construction volume exceeding $1 trillion. The addition of Chapple is expected to strengthen Procore's strategic roadmap and innovation in construction management.

Procore Technologies (NYSE: PCOR) announces Project Engage: 2022 Leadership Development Program in collaboration with the Associated General Contractors of California. This year-long initiative aims to enhance leadership skills, team engagement, and business success through interactive cohorts, 1:1 coaching, and immersive experiences. The program will be available to AGC members both in-person at Procore's Santa Barbara HQ and virtually. Project Engage builds on Procore's Culture Academy, initiated in 2019, focusing on cultivating healthy workplace cultures in the construction industry.

Procore Technologies, Inc. (NYSE: PCOR) has announced an expansion of its partnership with family-run developer Cape Group. The company will now implement Procore's Action Plans to standardize processes and enhance quality assurance across its projects in Canada. Cape Group reports that using Procore has accelerated project delivery by approximately 10%, resulting in significantly increased revenue. The collaboration aims to streamline operations, ensuring compliance with quality standards.