Procore Technologies Inc

procore.com

What Do They Do?

Sells cloud-based construction management software to owners, general contractors, and specialty contractors.

How Do They Make Money?

Customers pay fixed subscription fees for software access and related support, usually invoiced at the start of an annual subscription period and due on receipt or within 30 days. Fees cover access over the subscription term; some subscriptions are billed semiannually or quarterly.

FY2025 revenue

Who Are Their Customers?

Owners, general contractors, and specialty contractors use Procore across residential and non-residential construction. Procore sells subscriptions primarily through a direct sales team organized by geography and customer size and type.

Do Revenues Turn Into Profits?

Not on paper. It lost $100.8M in FY2025, but brought in more cash than it spent: $282.2M of free cash flow.

Operating income, FY2025

−9% of revenue

▼ −9% (Loss) vs FY2024 (−$136.4M, −12%)

Net income, FY2025

−8% of revenue

▼ −5% (Loss) vs FY2024 (−$106M, −9%)

Free cash flow, FY2025

21% of revenue

▲ +59% vs FY2024 ($177M, 15%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +16%; vs $323.9M in Q2 FY2025
Net income: ▲ Now profitable; vs −$21.1M in Q2 FY2025

Sep 9, 2026 Procore completed its acquisition of DroneDeploy The cash purchase price was approximately $845.0 million, subject to adjustments.
Mar 10, 2026 Procore appointed Rachel Pyles CFO, succeeding Howard Fu Pyles's appointment as CFO and Treasurer took effect on April 1, 2026.

Growing. Revenue grew 2.6x in 4 years, from $514.8M in FY2021 to $1.3B in FY2025, about 27% a year.

Product categories The older report listed Workforce Management and Construction Intelligence among its product categories; the latest lists Resource Management and does not list Construction Intelligence as a category.

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