Procore Technologies, Inc. Earnings Recaps
Q1 2026
May 6, 2026
Shares dropped 14.7% following the earnings release, reflecting investor disappointment likely driven by cautious outlook commentary and potentially softer demand signals amid the challenging construction environment despite reported growth.
Key takeaways
- Reported 15.7% revenue growth and 17% non-GAAP operating margin, representing a 650 basis point expansion year-over-year.
- Management highlighted ongoing headwinds in the construction sector, signaling macro challenges remain a restraint.
- Significant emphasis placed on early-stage Procore AI initiatives and acquisitions, with AI pilots and specialist sales teams still in a nascent phase.
- Flagship products, including new scheduling and collaboration tools, continue evolving but face a tough market backdrop.
- Lack of explicit forward guidance or clear acceleration details may have fueled investor caution leading to the share selloff.
Q3 2025
Nov 6, 2025
Procore Technologies delivered a strong Q3 2025 with a 14.5% year-over-year revenue growth and announced a leadership transition with Ajei Gopal set to take over as CEO.
Key takeaways
- Revenue growth of 14.5% year-over-year, consistent with previous quarters, highlighting strong business momentum.
- Non-GAAP operating margins improved to 17%, reflecting enhanced efficiency measures.
- A significant increase in large deals, with 31% year-over-year growth in 6- and 7-figure contracts, and over 2,600 customers generating $100,000+ ARR.
- Procore surpassed $1 trillion in annual construction volume, showcasing its ability to gain market share despite industry headwinds.
- Leadership transition with Ajei Gopal stepping in as CEO on November 10, bringing over 35 years of experience in tech and a proven track record of value creation.