Procore Technologies, Inc.
PCOR NYSE Services-Prepackaged Software Financials FY2019–FY2025
Revenue
Total sales reported in the income statement.
$1.3B
14.8%
vs prior year
Operating margin
Operating income as a share of revenue.
−9.4%
2.4 pts
Net income
Profit after all expenses, interest and tax.
−$101M
Free cash flow
Cash from operations minus capital spending.
$282M
59.4%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.26 EPS (TTM)
What Procore Technologies, Inc. does
No business description yet.
- Legal name
- PROCORE TECHNOLOGIES, INC.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 24, 2026
- Accession · CIK
- 0001628280-26-011055
0001611052
Revenue and margins
Procore Technologies, Inc. had $1.3B of revenue in fiscal 2025, up 14.8% on the year before.
FY19
Revenue $289M
FY20
Revenue $400M
FY21
Revenue $515M
FY22
Revenue $720M
FY23
Revenue $950M
FY24
Revenue $1.2B
FY25
Revenue $1.3B
Q3 '23
Revenue $248M
Q4 '23
Revenue $260M
Q1 '24
Revenue $269M
Q2 '24
Revenue $284M
Q3 '24
Revenue $296M
Q4 '24
Revenue $302M
Q1 '25
Revenue $311M
Q2 '25
Revenue $324M
Q3 '25
Revenue $339M
Q4 '25
Revenue $349M
Q1 '26
Revenue $359M
Q2 '26
Revenue $375M
FY19
Gross 81.6%
Operating −28.6%
Net −28.7%
FCF −6.9%
FY20
Gross 82.1%
Operating −14.6%
Net −24.0%
FCF 3.7%
FY21
Gross 80.9%
Operating −55.5%
Net −51.5%
FCF 4.7%
FY22
Gross 79.4%
Operating −40.3%
Net −39.8%
FCF −0.4%
FY23
Gross 81.6%
Operating −22.7%
Net −20.0%
FCF 8.6%
FY24
Gross 82.1%
Operating −11.8%
Net −9.2%
FCF 15.4%
FY25
Gross 79.5%
Operating −9.4%
Net −7.6%
FCF 21.3%
Gross
Operating
Net
FCF
Q3 '23
Gross 82.2%
Operating −20.3%
Net −17.7%
FCF 12.2%
Q4 '23
Gross 81.6%
Operating −14.4%
Net −11.4%
FCF 14.8%
Q1 '24
Gross 83.0%
Operating −7.0%
Net −4.1%
FCF 24.9%
Q2 '24
Gross 83.1%
Operating −5.2%
Net −2.2%
FCF 20.0%
Q3 '24
Gross 81.4%
Operating −12.3%
Net −8.9%
FCF 12.1%
Q4 '24
Gross 81.2%
Operating −21.9%
Net −20.6%
FCF 5.8%
Q1 '25
Gross 79.1%
Operating −11.7%
Net −10.6%
FCF 20.0%
Q2 '25
Gross 79.1%
Operating −9.3%
Net −6.5%
FCF 8.6%
Q3 '25
Gross 79.7%
Operating −4.4%
Net −2.7%
FCF 24.5%
Q4 '25
Gross 80.1%
Operating −12.3%
Net −10.8%
FCF 31.3%
Q1 '26
Gross 80.1%
Operating −4.4%
Net −2.5%
FCF 20.5%
Q2 '26
Gross 79.9%
Operating 1.2%
Net 4.5%
FCF 21.5%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY19
Net income −$83.1M
FY20
Net income −$96.2M
FY21
Net income −$265M
FY22
Net income −$287M
FY23
Net income −$190M
FY24
Net income −$106M
FY25
Net income −$101M
Q3 '23
Net income −$43.8M
Q4 '23
Net income −$29.5M
Q1 '24
Net income −$11.0M
Q2 '24
Net income −$6.3M
Q3 '24
Net income −$26.4M
Q4 '24
Net income −$62.3M
Q1 '25
Net income −$33.0M
Q2 '25
Net income −$21.1M
Q3 '25
Net income −$9.1M
Q4 '25
Net income −$37.6M
Q1 '26
Net income −$9.1M
Q2 '26
Net income $16.9M
FY19
Diluted EPS −$3.41
FY20
Diluted EPS −$3.56
FY21
Diluted EPS −$2.86
FY22
Diluted EPS −$2.10
FY23
Diluted EPS −$1.34
FY24
Diluted EPS −$0.72
FY25
Diluted EPS −$0.67
Q3 '23
Diluted EPS −$0.31
Q4 '23
Diluted EPS −$0.21
Q1 '24
Diluted EPS −$0.08
Q2 '24
Diluted EPS −$0.04
Q3 '24
Diluted EPS −$0.18
Q4 '24
Diluted EPS −$0.42
Q1 '25
Diluted EPS −$0.22
Q2 '25
Diluted EPS −$0.14
Q3 '25
Diluted EPS −$0.06
Q4 '25
Diluted EPS −$0.25
Q1 '26
Diluted EPS −$0.06
Q2 '26
Diluted EPS $0.11
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital —
Return on equity —
Return on assets —
FY20
Return on capital —
Return on equity —
Return on assets −11.7%
FY21
Return on capital —
Return on equity −57.8%
Return on assets −21.1%
FY22
Return on capital —
Return on equity −24.9%
Return on assets −16.7%
FY23
Return on capital —
Return on equity −16.7%
Return on assets −10.4%
FY24
Return on capital —
Return on equity −8.7%
Return on assets −5.3%
FY25
Return on capital —
Return on equity −7.9%
Return on assets −4.6%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $282M in fiscal 2025, 21.3% of revenue. Cash from operations minus capital spending.
FY19
Free cash flow −$20.1M
FY20
Free cash flow $14.7M
FY21
Free cash flow $24.3M
FY22
Free cash flow −$3.2M
FY23
Free cash flow $81.7M
FY24
Free cash flow $177M
FY25
Free cash flow $282M
Q3 '23
Free cash flow $30.3M
Q4 '23
Free cash flow $38.5M
Q1 '24
Free cash flow $67.1M
Q2 '24
Free cash flow $56.8M
Q3 '24
Free cash flow $35.7M
Q4 '24
Free cash flow $17.4M
Q1 '25
Free cash flow $62.0M
Q2 '25
Free cash flow $27.9M
Q3 '25
Free cash flow $83.1M
Q4 '25
Free cash flow $109M
Q1 '26
Free cash flow $73.8M
Q2 '26
Free cash flow $80.9M
FY19
Cash from operations −$7.0M
Capital spending $13.1M
FY20
Cash from operations $21.9M
Capital spending $7.2M
FY21
Cash from operations $36.7M
Capital spending $12.4M
FY22
Cash from operations $12.6M
Capital spending $15.8M
FY23
Cash from operations $92.0M
Capital spending $10.3M
FY24
Cash from operations $196M
Capital spending $19.1M
FY25
Cash from operations $300M
Capital spending $18.1M
Cash from operations
Capital spending
Q3 '23
Cash from operations $33.7M
Capital spending $3.4M
Q4 '23
Cash from operations $40.7M
Capital spending $2.3M
Q1 '24
Cash from operations $69.1M
Capital spending $2.1M
Q2 '24
Cash from operations $58.7M
Capital spending $1.9M
Q3 '24
Cash from operations $39.3M
Capital spending $3.5M
Q4 '24
Cash from operations $29.1M
Capital spending $11.6M
Q1 '25
Cash from operations $66.0M
Capital spending $4.0M
Q2 '25
Cash from operations $30.8M
Capital spending $3.0M
Q3 '25
Cash from operations $88.5M
Capital spending $5.4M
Q4 '25
Cash from operations $115M
Capital spending $5.7M
Q1 '26
Cash from operations $76.8M
Capital spending $2.9M
Q2 '26
Cash from operations $87.9M
Capital spending $7.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
Procore Technologies, Inc. returned $129M to shareholders in fiscal 2025, 46% of free cash flow. The diluted share count rose 1.9%.
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks $0.0M
FY24
Dividends —
Buybacks $0.0M
FY25
Dividends —
Buybacks $129M
Dividends
Buybacks
Q3 '23
Dividends —
Buybacks —
Q4 '23
Dividends —
Buybacks —
Q1 '24
Dividends —
Buybacks $0.0M
Q2 '24
Dividends —
Buybacks $0.0M
Q3 '24
Dividends —
Buybacks $0.0M
Q4 '24
Dividends —
Buybacks $0.0M
Q1 '25
Dividends —
Buybacks $100M
Q2 '25
Dividends —
Buybacks $3.1M
Q3 '25
Dividends —
Buybacks $25.7M
Q4 '25
Dividends —
Buybacks $0.0M
Q1 '26
Dividends —
Buybacks $100M
Q2 '26
Dividends —
Buybacks $0.0M
Dividends
Buybacks
FY19
Diluted shares 0.02B
FY20
Diluted shares 0.03B
FY21
Diluted shares 0.09B
FY22
Diluted shares 0.14B
FY23
Diluted shares 0.14B
FY24
Diluted shares 0.15B
FY25
Diluted shares 0.15B
Balance sheet
Cash, debt and the ratios that show how comfortably Procore Technologies, Inc. can carry it.
FY19
Cash $118M
Debt —
FY20
Cash $380M
Debt —
FY21
Cash $586M
Debt —
FY22
Cash $582M
Debt —
FY23
Cash $678M
Debt —
FY24
Cash $775M
Debt —
FY25
Cash $768M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $586M | $582M | $678M | $775M | $768M |
| Interest coverage | −122.8x | −136.0x | −110.2x | −71.8x | −107.8x |
| Current ratio | 1.9x | 1.5x | 1.5x | 1.5x | 1.3x |
| Quick ratio | 1.9x | 1.5x | 1.5x | 1.5x | 1.3x |
| Total assets | $1.7B | $1.7B | $1.9B | $2.1B | $2.2B |
| Total liabilities | $501M | $624M | $738M | $813M | $977M |
| Shareholders' equity | $1.2B | $1.1B | $1.2B | $1.3B | $1.3B |
| Net debt (− = net cash) | — | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✕ | ✕ | ✓ | ✓ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — | — | — | — | — |
| Current ratio rose | — | — | ✕ | ✕ | ✕ | ✓ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Gross margin rose | — | ✓ | ✕ | ✕ | ✓ | ✓ | ✕ |
| Revenue rose relative to assets | — | — | ✕ | ✓ | ✓ | ✓ | ✓ |
| F-score | — / 3 | — / 5 | 2 / 8 | 3 / 8 | 5 / 8 | 6 / 8 | 4 / 8 |
| Accruals ratio | — | −14.4% | −24.0% | −17.5% | −15.5% | −15.1% | −18.5% |
| Altman Z'' | — | −1.03 | 1.43 | −0.01 | 0.00 | 0.46 | −0.15 |
7 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $289M | $400M | $515M | $720M | $950M | $1.2B | $1.3B |
| Provision for credit losses | — | $0.5M | $0.1M | $2.6M | — | — | — |
| Gross profit | $236M | $329M | $417M | $572M | $776M | $946M | $1.1B |
| Research and development | $87.0M | $125M | $237M | $271M | $301M | $313M | $362M |
| Operating income | −$82.6M | −$58.5M | −$286M | −$290M | −$216M | −$136M | −$124M |
| Interest expense | $0.9M | $2.4M | $2.3M | $2.1M | $2.0M | $1.9M | $1.2M |
| Pretax income | −$83.0M | −$97.2M | −$289M | −$286M | −$188M | −$104M | −$94.0M |
| Income tax | $0.1M | −$1.0M | −$23.8M | $0.5M | $1.3M | $1.8M | $6.8M |
| Net income | −$83.1M | −$96.2M | −$265M | −$287M | −$190M | −$106M | −$101M |
| Net income to common | −$83.1M | −$99.2M | −$265M | — | — | — | — |
| Diluted EPS | −$3.41 | −$3.56 | −$2.86 | −$2.10 | −$1.34 | −$0.72 | −$0.67 |
| Diluted shares | 0.02B | 0.03B | 0.09B | 0.14B | 0.14B | 0.15B | 0.15B |
| Cash flow | |||||||
| Cash from operations | −$7.0M | $21.9M | $36.7M | $12.6M | $92.0M | $196M | $300M |
| Capital expenditure | $13.1M | $7.2M | $12.4M | $15.8M | $10.3M | $19.1M | $18.1M |
| Free cash flow | −$20.1M | $14.7M | $24.3M | −$3.2M | $81.7M | $177M | $282M |
| Depreciation and amortization | $14.9M | $26.0M | $36.4M | $63.0M | $71.6M | $89.8M | $111M |
| Stock-based compensation | $19.2M | $44.0M | $227M | $163M | $175M | $187M | $238M |
| Acquisitions | $38.7M | $14.5M | $510M | $0.0M | $0.0M | $25.9M | $41.5M |
| Share buybacks | — | — | — | — | $0.0M | $0.0M | $129M |
| Dividends and buybacks | — | — | — | — | $0.0M | $0.0M | $129M |
| Balance sheet | |||||||
| Cash and short-term investments | $118M | $380M | $586M | $582M | $678M | $775M | $768M |
| Finance lease liabilities | — | $50.3M | $49.0M | $47.4M | $45.6M | $43.6M | $28.3M |
| Current assets | — | $488M | $752M | $799M | $956M | $1.1B | $1.2B |
| Current liabilities | — | $262M | $404M | $532M | $642M | $728M | $885M |
| Property and equipment, net | — | $30.3M | $36.8M | $39.2M | $36.3M | $43.6M | $48.6M |
| Goodwill | $115M | $126M | $541M | $539M | $539M | $550M | $574M |
| Intangible assets | — | $33.2M | $202M | $163M | $138M | $121M | $105M |
| Total assets | — | $821M | $1.7B | $1.7B | $1.9B | $2.1B | $2.2B |
| Total liabilities | — | $365M | $501M | $624M | $738M | $813M | $977M |
| Preferred stock | — | — | — | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | −$254M | −$272M | $1.2B | $1.1B | $1.2B | $1.3B | $1.3B |
| Margins | |||||||
| Gross margin | 81.6% | 82.1% | 80.9% | 79.4% | 81.6% | 82.1% | 79.5% |
| Operating margin | −28.6% | −14.6% | −55.5% | −40.3% | −22.7% | −11.8% | −9.4% |
| EBITDA margin | −23.4% | −8.1% | −48.5% | −31.6% | −15.2% | −4.1% | −1.0% |
| Net margin | −28.7% | −24.0% | −51.5% | −39.8% | −20.0% | −9.2% | −7.6% |
| FCF margin | −6.9% | 3.7% | 4.7% | −0.4% | 8.6% | 15.4% | 21.3% |
| Returns | |||||||
| Return on capital employed | — | −10.5% | −22.2% | −24.0% | −17.2% | −9.9% | −9.2% |
| Return on equity | — | — | −57.8% | −24.9% | −16.7% | −8.7% | −7.9% |
| Return on assets | — | −11.7% | −21.1% | −16.7% | −10.4% | −5.3% | −4.6% |
| Return on tangible equity | — | — | −59.4% | −69.2% | −39.6% | −17.2% | −17.3% |
| Growth | |||||||
| Revenue growth | — | 38.4% | 28.6% | 39.9% | 31.9% | 21.2% | 14.8% |
| FCF growth | — | — | 66.2% | −113.0% | — | 116.7% | 59.4% |
| Share count change | — | 14.5% | 232.2% | 47.3% | 4.0% | 3.9% | 1.9% |
| Financial health | |||||||
| Interest coverage | −88.8x | −24.9x | −122.8x | −136.0x | −110.2x | −71.8x | −107.8x |
| Current ratio | — | 1.9x | 1.9x | 1.5x | 1.5x | 1.5x | 1.3x |
| Quick ratio | — | 1.9x | 1.9x | 1.5x | 1.5x | 1.5x | 1.3x |
| Capital allocation | |||||||
| Capex / revenue | 4.5% | 1.8% | 2.4% | 2.2% | 1.1% | 1.7% | 1.4% |
| Stock comp / revenue | 6.7% | 11.0% | 44.1% | 22.6% | 18.4% | 16.2% | 18.0% |
| Payouts / FCF | — | — | — | — | 0.0% | 0.0% | 45.7% |
| Quality scores | |||||||
| Piotroski F-score | — | — | 2.0 | 3.0 | 5.0 | 6.0 | 4.0 |
| Altman Z'' | — | −1.0 | 1.4 | −0.0 | 0.0 | 0.5 | −0.1 |
| Accruals ratio | — | −14.4% | −24.0% | −17.5% | −15.5% | −15.1% | −18.5% |
Source: SEC EDGAR XBRL filings (CIK 0001611052). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.