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Procore Technologies, Inc. (PCOR) stock

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NYSE: PCOR NYSE Application Software Next results ~November 3, 2026

C+ Fundamentals grade

Procore Technologies, Inc. is a US-listed company in the application software industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$33

Cash-flow model

Base case. Range ~$26–$43 across our lower- and higher-growth cases (12.5%–22.5% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 47% below it.

Price used: $62.57, November 2, 2026

Procore Technologies, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 9 selling0 purchases and 80 sales by directors and officers, last 12 monthsInsider trades
  • Funds200 adding, 262 cuttingOf 63 active managers that changed their stake, 33 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Procore Technologies files

Where Procore Technologies stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.42bn, up 15.4% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin rose to 24.4% from 11.6% a year earlier. Operating margin widened to -4.9% from -13.7%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 3 financial-health checks. Our cash-flow model value is $8.82 a share, against a share price of $60.20.

Source: 10-Q filed July 31, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Procore Technologies, Inc.'s trailing-twelve-month revenue grew 15.4% year on year, with a free-cash-flow margin of 24.4%.

Our discounted-cash-flow model values the business at ~$33 per share in the base case (~$26–$43 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 142.7% while net income grew 72.8%: a 70pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 15.4% over the last 12 months, against a median of 12.0% for application software companies we cover.
  • Margins widening. Operating margin is up 8.9 points on a year ago.
  • Strong cash generation. 24.4% of revenue turned into free cash flow, against a median of 15.2% for application software companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.5bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 18.8% over 90 days.

Things to watch

  • Priced above our value. The share price of $62.57 is 47% above our value per share of $33.
  • Loss-making. Operating margin is -4.9%: costs exceed revenue.
  • Heavy stock-based pay. Stock pay equals 17.5% of revenue, against a median of 9.3% for application software companies we cover: a real cost that cash-flow figures leave out.
  • Volatile shares. Over the past year the shares showed annualised volatility of 52% and a beta of 0.7 against the S&P 500.
  • Insiders selling. 9 insiders sold $82M of stock over the past 365 days and none bought (45% under pre-set trading plans).
  • Heavily shorted. 15.9% of the shares available to trade are sold short (6.6 days of average volume to cover).

Latest results: FY2026 Q2

Filed July 31, 2026
Earnings per share
$0.47 against an average estimate of $0.41: beat by 15.1%
Revenue
$375m, up 15.8% on a year earlier
Share reaction
+10.1% in the first session after the results on July 29, 2026, against +0.1% for the S&P 500
Guidance given
revenue $382m to $384m (third quarter 2026); non-GAAP operating margin 19% to 19.5% (third quarter 2026)
Next report
November 3, 2026; average EPS estimate $0.45

Procore Technologies' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.9%
  • 1 week-0.3%
  • 1 month+22.8%
  • This year-14.0%
  • 1 year-15.2%
  • 5 years-34.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.4B
Operating margin
-4.9%
Net margin
-2.7%
EPS (TTM, diluted)
$-0.26

Growth

Revenue growth
+15.4%
Change in growth rate
+0.5 pts
Share count change
+1.3%

Cash

Free cash flow (TTM)
$347M
FCF margin
24.4%
Stock pay % of revenue
17.5%

Earnings

Last results
July 29, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Product
  3. Announcement
  4. Results
  5. Insider trade
  6. Insider trade
  7. Announcement
  8. Insider trade
  9. Agreement
  10. Financing
  11. Financing
  12. Deal
  13. Results
  14. Guidance
  15. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Procore Technologies, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 64.0% a year of cash-flow growth for five years.That is faster than the 22.5% a year revenue growth Procore Technologies has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in64.0%
  • Last 12 months15.4%
  • 3 years a year19.6%
  • 5 years a year22.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($61.50, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$33
Price used
$61.50close November 3, 2026
Implied change
▼ 46%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Procore Technologies, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($22.9M, FY2026 Q2 TTM), growing 16.2% and 17.5% in the next two years (forecasts, guidance and its record), then back to 17.5% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$26–~$43 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Procore Technologies, Inc.'s free cash flow after stock-based pay ( $22.9M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Procore Technologies, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.3%: the 10-year Treasury yield (4.9%) plus a beta of 1.19 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$33 ~$26–$43 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$34 ~$29–$57 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$34 ~$33–$34 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Procore Technologies, Inc. with Application Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▲ +99%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $6$7$8$10$11$14
8.5% $6$7$7$8$10$11
10% $6$6$7$7$8$10

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$79.97$47.18$69.22$74.93$72.74$62.57
Market value$7.4bn$6.4bn$9.8bn$11.0bn$10.9bn$9.5bn
+ Net debt (− = net cash)−$586m−$297m−$358m−$438m−$481m−$494m
Enterprise value$6.8bn$6.1bn$9.5bn$10.6bn$10.4bn$9.0bn
Multiples
Price / sales 14.4x8.9x10.3x9.6x8.3x6.7x
Price / earnings ——————
Price / free cash flow n/m—120.3x62.4x38.7x27.3x
EV / EBITDA —————189.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

56 /100

Moderate moat

How hard Procore Technologies's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 13 / 20

    Cash operating profit has been a median 10.6% of total assets over 5 years.

  • Pricing power 20 / 20

    Gross margin has been a median 80.4%, moving by 0.9 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -23.4%; its worst year was -44.6%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 5 of 6 years, at a median 10.5% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (71 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $384m and EPS of $0.45 (range $0.40 to $0.55) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.70 +25% $1.5bn +15%
Next $2.50 +47% $1.8bn +17%

Next year's EPS estimate has moved +18.8% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +2.4% on 90 days ago. In the last 30 days, 12 analysts raised Procore Technologies, Inc.'s forecast and 7 cut it.

Consensus EPS forecast Procore Technologies, Inc., last 90 days
$1.50 $2.00 $2.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.66 Current fiscal year, 60 days ago: $1.70 Current fiscal year, 30 days ago: $1.70 Current fiscal year, 7 days ago: $1.70 Current fiscal year, Now: $1.70 $1.70 Next fiscal year, 90 days ago: $2.10 Next fiscal year, 60 days ago: $2.40 Next fiscal year, 30 days ago: $2.50 Next fiscal year, 7 days ago: $2.50 Next fiscal year, Now: $2.50 $2.50

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.66$2.10
60 days ago $1.70$2.40
30 days ago $1.70$2.50
7 days ago $1.70$2.50
Now $1.70$2.50

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.41 $0.47 +15.1%
Mar 2026 $0.36 $0.34 −6.1%
Dec 2025 $0.36 $0.37 +3.8%
Sept 2025 $0.32 $0.42 +29.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 29, 2026
  • Revenue full year 2026 $1,510m to $1,514m
    “Revenue is expected to be in the range of $1,510 million to $1,514 million, representing year-over-year growth of 14.5% at the high end.” source
  • Revenue third quarter 2026 $382m to $384m
    “Revenue is expected to be in the range of $382 million to $384 million, representing year-over-year growth of 13.3%.” source
  • Non-GAAP operating margin full year 2026 18.5% to 19% Non-GAAP
    “Non-GAAP operating margin is expected to be in the range of 18.5% to 19.0%.” source
  • Non-GAAP operating margin full year 2027 about 25% Non-GAAP
    “Non-GAAP operating margin is expected to be 25%.” source
  • Non-GAAP operating margin third quarter 2026 19% to 19.5% Non-GAAP
    “Non-GAAP operating margin is expected to be in the range of 19% to 19.5%.” source
  • Free cash flow margin full year 2026 about 19.5% Non-GAAP
    “Free cash flow margin is expected to be 19.5%.” source

How earlier guidance turned out

  • Revenue, Second Quarter 2026 guided $364m to $366m Above range: $375m

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Procore Technologies, Inc.'s revenue by +16.2% next year and +17.5% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+15.8%, weight 57%) , management guidance (+15.6%, weight 19%) and the company's own record (+17.5%, weight 25%) . How the weights are set.

Analyst recommendations

24 analysts, Oct 2026
Buy1875%
Hold625%
Sell00%

Monthly trend

  1. Oct 2026414624
  2. Sep 2026414624
  3. Aug 2026413623
  4. Jul 2026413623

Counts of recommendations published by analysts covering Procore Technologies, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
15.9%
of tradable shares
Days to cover
6.56
at average volume
Short interest, 1 month
+23%
to October 15, 2026
Held by institutions
98%
of shares
Held by insiders
9.3%
of shares
Employees
4,421
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −15.2%

$73.82 on October 31, 2025 to $62.57

ThenNowEffect
Revenue (last 12 months) $1.2bn $1.4bn +15.4%
P/S multiple 8.9x 6.7x −25.6%
Share count 149m 151m −1.3%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +19.8%

$52.22 on November 3, 2023 to $62.57

ThenNowEffect
Revenue (last 12 months) $831m $1.4bn +71.3%
P/S multiple 8.7x 6.7x −23.9%
Share count 139m 151m −8.0%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
PCOR−41%+47%+8%−3%−14%
Industry peers (median)−50%+19%+2%−21%−14%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
PCOR33%50%58%58%46%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
PCOR−49%−34%−37%−36%−49%
S&P 500−25%−10%−8%−19%−9%

Worst fall since May 20, 2021: 64% from August 2, 2021 to June 25, 2026. Getting back needed a 177% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$38.30 – $79.60
From 52-week high
−21.4%
vs 50-day average
+10.4%
vs 200-day average
+17.4%
Volatility (1 year)
52%
Beta vs S&P 500
0.69

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±10.5%
After a week
7 up, 5 down
typical move ±11.1%
After a month
6 up, 6 down
typical move ±12.2%
Results releasedNext dayS&P 500 next day5 days21 days
July 29, 2026 +10.1% +0.1% +14.0% +30.4%
May 5, 2026 −14.7% +2.2% −22.6% −18.4%
February 12, 2026 +7.6% −1.5% +7.6% +16.7%
November 5, 2025 +11.9% −0.7% +10.4% +9.7%
July 31, 2025 −16.7% −2.0% −13.7% −6.7%
May 1, 2025 +1.2% +2.2% +3.6% +2.5%
February 13, 2025 +17.8% +1.1% +10.7% −6.2%
October 30, 2024 +3.5% −2.3% +12.5% +28.0%
August 1, 2024 −20.1% −3.3% −23.6% −16.6%
May 1, 2024 +1.2% +0.6% −0.6% −1.9%
February 15, 2024 +3.3% +0.2% +0.4% +7.5%
November 1, 2023 −17.4% +3.0% −13.0% −1.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Procore Technologies, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Procore Technologies, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Procore Technologies, Inc.
$800M $1B $1.2B $1.4B $1.6B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $892M Revenue (TTM), FY23 Q4: $950M Revenue (TTM), FY24 Q1: $1B Revenue (TTM), FY24 Q2: $1.1B Revenue (TTM), FY24 Q3: $1.1B Revenue (TTM), FY24 Q4: $1.2B Revenue (TTM), FY25 Q1: $1.2B Revenue (TTM), FY25 Q2: $1.2B Revenue (TTM), FY25 Q3: $1.3B Revenue (TTM), FY25 Q4: $1.3B Revenue (TTM), FY26 Q1: $1.4B Revenue (TTM), FY26 Q2: $1.4B $1.4B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $892M
FY23 Q4 $950M
FY24 Q1 $1B
FY24 Q2 $1.1B
FY24 Q3 $1.1B
FY24 Q4 $1.2B
FY25 Q1 $1.2B
FY25 Q2 $1.2B
FY25 Q3 $1.3B
FY25 Q4 $1.3B
FY26 Q1 $1.4B
FY26 Q2 $1.4B
Revenue growth, TTM YoY Procore Technologies, Inc.
10% 15% 20% 25% 30% 35% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 34.3% Revenue growth, TTM YoY, FY23 Q4: 31.9% Revenue growth, TTM YoY, FY24 Q1: 29.9% Revenue growth, TTM YoY, FY24 Q2: 27.8% Revenue growth, TTM YoY, FY24 Q3: 24.4% Revenue growth, TTM YoY, FY24 Q4: 21.2% Revenue growth, TTM YoY, FY25 Q1: 18.6% Revenue growth, TTM YoY, FY25 Q2: 16.1% Revenue growth, TTM YoY, FY25 Q3: 14.9% Revenue growth, TTM YoY, FY25 Q4: 14.8% Revenue growth, TTM YoY, FY26 Q1: 14.9% Revenue growth, TTM YoY, FY26 Q2: 15.4% 15.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 34.3%
FY23 Q4 31.9%
FY24 Q1 29.9%
FY24 Q2 27.8%
FY24 Q3 24.4%
FY24 Q4 21.2%
FY25 Q1 18.6%
FY25 Q2 16.1%
FY25 Q3 14.9%
FY25 Q4 14.8%
FY26 Q1 14.9%
FY26 Q2 15.4%
Operating margin (TTM) Procore Technologies, Inc.
-30% -20% -10% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -28.4% Operating margin (TTM), FY23 Q4: -22.7% Operating margin (TTM), FY24 Q1: -16.4% Operating margin (TTM), FY24 Q2: -11.4% Operating margin (TTM), FY24 Q3: -9.7% Operating margin (TTM), FY24 Q4: -11.8% Operating margin (TTM), FY25 Q1: -12.9% Operating margin (TTM), FY25 Q2: -13.7% Operating margin (TTM), FY25 Q3: -11.6% Operating margin (TTM), FY25 Q4: -9.4% Operating margin (TTM), FY26 Q1: -7.6% Operating margin (TTM), FY26 Q2: -4.9% -4.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -28.4%
FY23 Q4 -22.7%
FY24 Q1 -16.4%
FY24 Q2 -11.4%
FY24 Q3 -9.7%
FY24 Q4 -11.8%
FY25 Q1 -12.9%
FY25 Q2 -13.7%
FY25 Q3 -11.6%
FY25 Q4 -9.4%
FY26 Q1 -7.6%
FY26 Q2 -4.9%
FCF margin (TTM) Procore Technologies, Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 7.1% FCF margin (TTM), FY23 Q4: 8.6% FCF margin (TTM), FY24 Q1: 12.1% FCF margin (TTM), FY24 Q2: 18.1% FCF margin (TTM), FY24 Q3: 17.9% FCF margin (TTM), FY24 Q4: 15.4% FCF margin (TTM), FY25 Q1: 14.4% FCF margin (TTM), FY25 Q2: 11.6% FCF margin (TTM), FY25 Q3: 14.9% FCF margin (TTM), FY25 Q4: 21.3% FCF margin (TTM), FY26 Q1: 21.4% FCF margin (TTM), FY26 Q2: 24.4% 24.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 7.1%
FY23 Q4 8.6%
FY24 Q1 12.1%
FY24 Q2 18.1%
FY24 Q3 17.9%
FY24 Q4 15.4%
FY25 Q1 14.4%
FY25 Q2 11.6%
FY25 Q3 14.9%
FY25 Q4 21.3%
FY26 Q1 21.4%
FY26 Q2 24.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 289 400 515 720 950 1,152 1,323 1,422
Gross profit 236 329 417 572 776 946 1,052 1,137
EBITDA −68 −33 −250 −227 −144 −47 −14 47
Operating income −83 −59 −286 −290 −216 −136 −124 −69
Net income −83 −96 −265 −287 −190 −106 −101 −39
Diluted EPS −$3.41 −$3.56 −$2.86 −$2.10 −$1.34 −$0.72 −$0.67 −$0.26
Growth (year on year)
Revenue — +38.4% +28.6% +39.9% +31.9% +21.2% +14.8% +15.4%
Margins
Gross margin 81.6% 82.1% 80.9% 79.4% 81.6% 82.1% 79.5% 80.0%
EBITDA margin −23.4% −8.1% −48.5% −31.6% −15.2% −4.1% −1.0% 3.3%
Operating margin −28.6% −14.6% −55.5% −40.3% −22.7% −11.8% −9.4% −4.9%
Net margin −28.7% −24.0% −51.5% −39.8% −20.0% −9.2% −7.6% −2.7%
Free-cash-flow margin −6.9% 3.7% 4.7% −0.4% 8.6% 15.4% 21.3% 24.4%
Cash flow
Cash from operations −7 22 37 13 92 196 300 368
Capital spending 13 7 12 16 10 19 18 21
Free cash flow −20 15 24 −3 82 177 282 347
Stock-based pay 19 44 227 163 175 187 238 248
Free cash flow after stock pay −39 −29 −203 −166 −93 −10 44 99
Balance sheet
Cash 118 380 586 297 358 438 481 494
Total debt 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −118 −380 −586 −297 −358 −438 −481 −494
Diluted shares 24m 28m 93m 137m 142m 147m 150m 151m
Returned to shareholders
Buybacks — — — — 0 0 129 126
Total returned — — — — 0 0 129 126

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · June 30, 2026
What it owns · $2.2bn
Short-term assets $1.0bnLonger-term assets $1.2bn
What it owes, and who funded it · $2.2bn
Short-term liabilities $891mLonger-term liabilities $74mShareholders' equity $1.3bn
  • Short-term assets cover short-term liabilities $1.0bn of assets due within a year against $891m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.0bn short-term assets against $74m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$69m against $1m of interest.

From Procore Technologies, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$126M
Returned to shareholders
36%
of free cash flow
Buybacks, last 3 fiscal years
$129M
Diluted share count
+1.3%
year over year
Total shareholder yield
1.3%
dividends 0.0% + buybacks 1.3% of market value
R&D spending
25.6%
of revenue
Days sales outstanding
62 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in application software
Last 12 months unless stated PCOR KVYO SRAD GWRE DLB KC Median
Revenue, last 12 months $1.4bn $1.4bn $1.5bn $1.5bn $1.4bn $1.3bn $482m
Revenue growth, last 12 months 15.4% 28.9% 21.8% 22.7% 0.6% 22.9% 12.0%
Revenue growth, 3-year average 19.6% 33.4% — 17.7% 1.7% — 11.1%
Revenue growth, latest quarter 15.8% 26.4% — 15.3% −3.3% — 11.9%
Gross margin 80.0% 73.8% 85.2% 64.2% 87.6% 15.7% 69.2%
Operating margin −4.9% −1.9% — 10.2% 17.7% −8.1% 1.1%
Operating margin, 3-year average −10.0% −19.2% — 2.7% 18.4% — −0.8%
Net margin −2.7% 0.5% 7.8% 9.4% 16.7% −9.8% 2.1%
Cash from operations / revenue 25.9% 19.9% 31.2% 26.4% 32.3% 39.8% 18.2%
Free-cash-flow margin 24.4% 18.2% 30.9% 25.6% 29.0% 13.8% 15.0%
Free-cash-flow margin, 3-year average 18.0% 16.2% — 23.2% 27.5% — 16.2%
Stock pay / revenue 17.5% 12.3% 4.3% 12.3% 9.6% 4.7% 9.3%
Change in share count 1.3% 10.0% — −0.6% −1.2% 12.3% 2.2%

Median of all 185 companies we cover in application software. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

185 application software companies
Measure Company Peer median Rank
Revenue growth Growth 15.4% 12.0% 75 of 184
Change in growth rate Growth +0.5pp +0.2pp 87 of 184
Gross margin Profitability 80.0% 69.8% 35 of 160
Operating margin Profitability -4.9% 1.1% 110 of 181
Net margin Profitability -2.7% 2.1% 106 of 185
Free-cash-flow margin Cash generation 24.4% 15.2% 57 of 180
Stock pay as % of revenue Cash generation 17.5% 9.3% 140 of 177
Change in share count Balance sheet 1.3% 1.7% 76 of 163
Days sales outstanding Balance sheet 62 days 57 days 93 of 162

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
United States $1.1B 85.3% ▲ 14.9%
Outside the US $195M 14.7% ▲ 14.7%

From Procore Technologies, Inc.'s 10-K filed February 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$6.3B
Institutions reporting
399
Shares held vs prior quarter
▲ 2.9%
Positions opened / closed
80 / 110

Top buyers and sellers, Q2 2026: 200 institutions bought and 262 sold ; the biggest buyer was Assenagon Asset Management S.A (+6.5M shares) and the biggest seller Alliancebernstein L.P (−4.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Iconiq Capital, LLC $594M 14.6M 9.4% 0.0%
Morgan Stanley $464M 11.4M 7.4% ▲ 25.7%
Assenagon Asset Management S.A. $357M 8.8M 5.7% ▲ 290.6%
Blackrock, Inc. $300M 7.4M 4.8% ▼ 2.0%
Alliancebernstein L.P. $290M 5.1M 4.6% ▼ 47.8%
Vanguard Portfolio Management LLC $283M 7.0M 4.5% ▲ 2.5%
Price T Rowe Associates Inc $269M 6.6M 4.3% ▲ 18.3%
Vanguard Capital Management LLC $219M 5.4M 3.5% ▲ 0.1%
UBS Group AG $211M 5.2M 3.4% ▲ 26.6%
Capital World Investors $141M 3.5M 2.2% ▼ 23.2%
Wellington Management Group LLP $140M 3.5M 2.2% ▲ 8.2%
Deutsche Bank Ag\ $114M 2.8M 1.8% ▲ 64.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Procore Technologies, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $82.4M 80 trades by 9 insiders · 45% under pre-set plans
Net ▼ $82.4M net selling
Insider Date Trade Shares Price Value
Courtemanche Craig F. Jr. Director October 12, 2026 Sell pre-set plan 192 $56.73 $10,891
Courtemanche Craig F. Jr. Director October 12, 2026 Sell pre-set plan 55,930 $56.19 $3.1M
O Connor Kevin J Director October 6, 2026 Sell pre-set plan 1,923 $55.02 $105,803
O Connor Kevin J Director October 6, 2026 Sell pre-set plan 5,769 $54.36 $313,603
O Connor Kevin J Director October 5, 2026 Sell pre-set plan 1,923 $55.08 $105,919
O Connor Kevin J Director October 5, 2026 Sell pre-set plan 1,291 $53.46 $69,017
O Connor Kevin J Director October 5, 2026 Sell pre-set plan 4,478 $52.83 $236,573
Courtemanche Craig F. Jr. Director September 10, 2026 Sell pre-set plan 46,419 $53.41 $2.5M
Courtemanche Craig F. Jr. Director September 10, 2026 Sell pre-set plan 9,703 $53.81 $522,118
O Connor Kevin J Director September 2, 2026 Sell pre-set plan 7,452 $59.94 $446,673
O Connor Kevin J Director September 2, 2026 Sell pre-set plan 240 $60.61 $14,546
O Connor Kevin J Director September 1, 2026 Sell pre-set plan 5,294 $61.87 $327,540

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 27, 2026 estimated from the company's past filing pattern, not announced

  • July 29, 2026
  • May 5, 2026
  • February 12, 2026
  • November 5, 2025
  • July 31, 2025
  • May 1, 2025

Recent SEC filings

Data status

When each part of this page on Procore Technologies, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Procore Technologies, Inc. in brief

What does Procore Technologies, Inc. do?
Procore Technologies, Inc. is a US-listed company in the application software industry. Its financial year ends in December.
What is Procore Technologies, Inc.'s stock ticker?
Procore Technologies, Inc. trades under the ticker PCOR on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Procore Technologies, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Procore Technologies, Inc. reported revenue of $1.4B, 15.4% higher than a year earlier, according to its SEC filings.
What is Procore Technologies, Inc.'s free cash flow?
Procore Technologies, Inc.'s free-cash-flow margin is 24.4% of revenue over the trailing twelve months, ranking 57 of the 180 application software companies we cover.
What is Procore Technologies, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Procore Technologies, Inc.'s free cash flow after stock-based pay gives ~$33 per share in the base case, and ~$26–$43 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Procore Technologies, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Iconiq Capital, LLC, Morgan Stanley and Assenagon Asset Management S.A. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Procore Technologies, Inc. buying back stock, and does it pay a dividend?
Procore Technologies, Inc. spent $126M on share repurchases over the trailing twelve months, and its diluted share count still rose 1.3% over the year.
What is Procore Technologies, Inc.'s market cap?
On November 2, 2026, Procore Technologies, Inc.'s market capitalisation was about $9.5B and net debt of -$494M. Market figures come from third-party market data and may be delayed.
Who are Procore Technologies, Inc.'s competitors?
In our Application Software peer group, the companies closest to Procore Technologies, Inc. are Klaviyo, Inc., Sportradar Group AG, Guidewire Software, Inc., Dolby Laboratories, Inc. and Kingsoft Cloud Holdings Ltd. The side-by-side comparison below sets their revenue, margins and growth against Procore Technologies, Inc.'s.
Are insiders buying or selling Procore Technologies, Inc. stock?
Over the last 12 months, Procore Technologies, Inc.'s directors and officers reported 0 open-market purchases and 80 sales on Form 4. The insider trading page charts every trade.
When is Procore Technologies, Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Procore Technologies, Inc. announces its own schedule.