2023 Q2 Form 10-Q Financial Statement

#000162828023016126 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q1
Revenue $228.5M $213.5M $159.5M
YoY Change 32.71% 33.86% 40.0%
Cost Of Revenue $42.30M $40.20M $33.33M
YoY Change 15.16% 20.61% 63.72%
Gross Profit $186.2M $173.3M $126.2M
YoY Change 37.47% 37.36% 34.84%
Gross Profit Margin 81.49% 81.17% 79.1%
Selling, General & Admin $168.1M $162.6M $137.1M
YoY Change 16.77% 18.59% 90.66%
% of Gross Profit 90.26% 93.78% 108.62%
Research & Development $72.34M $80.04M $60.25M
YoY Change 13.34% 32.83% 74.42%
% of Gross Profit 38.84% 46.18% 47.75%
Depreciation & Amortization $17.34M $16.87M $15.15M
YoY Change 12.55% 11.4% 107.46%
% of Gross Profit 9.31% 9.74% 12.0%
Operating Expenses $244.2M $242.6M $197.3M
YoY Change 17.54% 22.94% 85.39%
Operating Profit -$57.98M -$69.26M -$71.14M
YoY Change -19.81% -2.63% 453.25%
Interest Expense $4.452M $496.0K $491.0K
YoY Change 3910.81% 1.02% -12.63%
% of Operating Profit
Other Income/Expense, Net $1.718M -$210.0K $543.0K
YoY Change -293.03% -138.67% -396.72%
Pretax Income -$52.56M -$63.39M -$71.09M
YoY Change -28.08% -10.83% 422.57%
Income Tax $322.0K $100.0K $300.0K
% Of Pretax Income
Net Earnings -$52.88M -$63.45M -$71.42M
YoY Change -27.68% -11.16% 420.09%
Net Earnings / Revenue -23.14% -29.71% -44.77%
Basic Earnings Per Share -$0.37 -$0.45 -$0.53
Diluted Earnings Per Share -$0.37 -$0.45 -$530.9K
COMMON SHARES
Basic Shares Outstanding 140.5M shares 140.3M 134.5M shares
Diluted Shares Outstanding 141.2M shares 139.6M shares 134.5M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $603.0M $602.8M $586.9M
YoY Change 7.06% 2.71% 41.84%
Cash & Equivalents $312.5M $329.0M $586.9M
Short-Term Investments $290.4M $273.8M
Other Short-Term Assets $43.71M $41.78M $40.73M
YoY Change -0.84% 2.57% 89.44%
Inventory
Prepaid Expenses
Receivables $151.2M $106.2M $98.14M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $797.9M $775.0M $725.8M
YoY Change 11.47% 6.78% 43.29%
LONG-TERM ASSETS
Property, Plant & Equipment $113.0M $38.28M $126.2M
YoY Change 175.44% -69.68% 5.64%
Goodwill $539.4M $539.1M $540.0M
YoY Change -0.04% -0.17%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $18.64M $21.86M $24.09M
YoY Change -20.91% -9.26% 74.54%
Total Long-Term Assets $928.0M $936.2M $946.5M
YoY Change -1.91% -1.09% 187.86%
TOTAL ASSETS
Total Short-Term Assets $797.9M $775.0M $725.8M
Total Long-Term Assets $928.0M $936.2M $946.5M
Total Assets $1.726B $1.711B $1.672B
YoY Change 3.85% 2.33% 100.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $15.54M $19.45M $14.41M
YoY Change -26.88% 35.0% 161.96%
Accrued Expenses $60.09M $69.63M $58.89M
YoY Change 15.36% 18.22% 80.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $519.9M $514.7M $408.6M
YoY Change 23.97% 25.96% 50.39%
LONG-TERM LIABILITIES
Long-Term Debt $44.57M $45.13M $46.95M
YoY Change -4.04% -3.88% -3.19%
Other Long-Term Liabilities $45.06M $4.245M $52.31M
YoY Change 1207.92% -91.89% 0.4%
Total Long-Term Liabilities $89.63M $4.245M $99.26M
YoY Change 2501.8% -95.72% -1.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $519.9M $514.7M $408.6M
Total Long-Term Liabilities $89.63M $4.245M $99.26M
Total Liabilities $609.5M $606.8M $507.9M
YoY Change 18.13% 19.48% 36.45%
SHAREHOLDERS EQUITY
Retained Earnings -$1.065B -$1.013B
YoY Change 32.07%
Common Stock $14.00K $14.00K
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.116B $1.104B $1.164B
YoY Change
Total Liabilities & Shareholders Equity $1.726B $1.711B $1.672B
YoY Change 3.85% 2.33% 100.2%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q1
OPERATING ACTIVITIES
Net Income -$52.88M -$63.45M -$71.42M
YoY Change -27.68% -11.16% 420.09%
Depreciation, Depletion And Amortization $17.34M $16.87M $15.15M
YoY Change 12.55% 11.4% 107.46%
Cash From Operating Activities -$11.68M $29.28M $10.28M
YoY Change -56.68% 184.67% -63.66%
INVESTING ACTIVITIES
Capital Expenditures $11.92M $2.173M $7.525M
YoY Change -213.23% -71.12% 214.46%
Acquisitions $0.00
YoY Change
Other Investing Activities -$15.60M $10.05M -$1.038M
YoY Change 323.16% -1067.73%
Cash From Investing Activities -$27.52M -$79.00K -$16.20M
YoY Change 93.62% -99.51% 253.14%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 19.70M $3.312M 6.542M
YoY Change 6.73% -49.37% -39.27%
NET CHANGE
Cash From Operating Activities -11.68M $29.28M 10.28M
Cash From Investing Activities -27.52M -$79.00K -16.20M
Cash From Financing Activities 19.70M $3.312M 6.542M
Net Change In Cash -19.50M $32.51M 631.0K
YoY Change -14.14% 5051.82% -98.17%
FREE CASH FLOW
Cash From Operating Activities -$11.68M $29.28M $10.28M
Capital Expenditures $11.92M $2.173M $7.525M
Free Cash Flow -$23.60M $27.10M $2.759M
YoY Change 43.65% 882.31% -89.35%

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DepreciationDepletionAndAmortization
16874000 usd
CY2022Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
15147000 usd
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
1632000 usd
CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0 usd
CY2023Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-441000 usd
CY2022Q1 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
0 usd
CY2023Q1 pcor Noncash Operating Lease Expense
NoncashOperatingLeaseExpense
2628000 usd
CY2022Q1 pcor Noncash Operating Lease Expense
NoncashOperatingLeaseExpense
2156000 usd
CY2023Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-408000 usd
CY2022Q1 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
477000 usd
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2000 usd
CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-352000 usd
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1726000 usd
CY2022Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-98000 usd
CY2023Q1 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
36000 usd
CY2022Q1 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
0 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-42948000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-34473000 usd
CY2023Q1 pcor Increase Decrease In Deferred Contract Cost Assets
IncreaseDecreaseInDeferredContractCostAssets
460000 usd
CY2022Q1 pcor Increase Decrease In Deferred Contract Cost Assets
IncreaseDecreaseInDeferredContractCostAssets
4066000 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-4549000 usd
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
5175000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
4648000 usd
CY2022Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
339000 usd
CY2023Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-28181000 usd
CY2022Q1 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-4357000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
6489000 usd
CY2022Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
8774000 usd
CY2023Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2620000 usd
CY2022Q1 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-1870000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
29275000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10284000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2173000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7525000 usd
CY2023Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
7951000 usd
CY2022Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
7632000 usd
CY2023Q1 pcor Payments To Acquire Strategic Investments
PaymentsToAcquireStrategicInvestments
149000 usd
CY2022Q1 pcor Payments To Acquire Strategic Investments
PaymentsToAcquireStrategicInvestments
2329000 usd
CY2023Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
89996000 usd
CY2022Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 usd
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
103909000 usd
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
0 usd
CY2023Q1 pcor Proceeds To Acquire Originations Of Materials Financing
ProceedsToAcquireOriginationsOfMaterialsFinancing
9077000 usd
CY2022Q1 pcor Proceeds To Acquire Originations Of Materials Financing
ProceedsToAcquireOriginationsOfMaterialsFinancing
0 usd
CY2023Q1 pcor Proceeds To Acquire Customer Repayments Of Materials Financing
ProceedsToAcquireCustomerRepaymentsOfMaterialsFinancing
5358000 usd
CY2022Q1 pcor Proceeds To Acquire Customer Repayments Of Materials Financing
ProceedsToAcquireCustomerRepaymentsOfMaterialsFinancing
0 usd
CY2023Q1 pcor Settlement Of Post Close Working Capital Adjustments From Business Combinations
SettlementOfPostCloseWorkingCapitalAdjustmentsFromBusinessCombinations
0 usd
CY2022Q1 pcor Settlement Of Post Close Working Capital Adjustments From Business Combinations
SettlementOfPostCloseWorkingCapitalAdjustmentsFromBusinessCombinations
1291000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-79000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-16195000 usd
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3722000 usd
CY2022Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
6907000 usd
CY2023Q1 pcor Repayments Of Long Term Finance Lease Obligations Net Of Proceeds From Lease Incentives
RepaymentsOfLongTermFinanceLeaseObligationsNetOfProceedsFromLeaseIncentives
410000 usd
CY2022Q1 pcor Repayments Of Long Term Finance Lease Obligations Net Of Proceeds From Lease Incentives
RepaymentsOfLongTermFinanceLeaseObligationsNetOfProceedsFromLeaseIncentives
365000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3312000 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
6542000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
32508000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
631000 usd
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-256000 usd
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
175000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
299816000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
589212000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
332068000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
590018000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
328964000 usd
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
586914000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3104000 usd
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
3104000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
332068000 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
590018000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
0 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
38000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
79000 usd
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
98000 usd
CY2023Q1 pcor Stock Based Compensation Capitalized For Cloud Computing Arrangement Costs
StockBasedCompensationCapitalizedForCloudComputingArrangementCosts
69000 usd
CY2022Q1 pcor Stock Based Compensation Capitalized For Cloud Computing Arrangement Costs
StockBasedCompensationCapitalizedForCloudComputingArrangementCosts
44000 usd
CY2023Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
239000 usd
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
405000 usd
CY2023Q1 pcor Operating Cash Flows From Finance Leases
OperatingCashFlowsFromFinanceLeases
496000 usd
CY2022Q1 pcor Operating Cash Flows From Finance Leases
OperatingCashFlowsFromFinanceLeases
511000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
3119000 usd
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
2518000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
496000 usd
CY2022Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
454000 usd
CY2023Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1306000 usd
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1521000 usd
CY2023Q1 pcor Increase Decrease In Accruals For Capitalized Software Development Costs
IncreaseDecreaseInAccrualsForCapitalizedSoftwareDevelopmentCosts
2088000 usd
CY2022Q1 pcor Increase Decrease In Accruals For Capitalized Software Development Costs
IncreaseDecreaseInAccrualsForCapitalizedSoftwareDevelopmentCosts
1829000 usd
CY2023Q1 pcor Net Change In Deferred Offering Costs Accrued But Not Paid
NetChangeInDeferredOfferingCostsAccruedButNotPaid
0 usd
CY2022Q1 pcor Net Change In Deferred Offering Costs Accrued But Not Paid
NetChangeInDeferredOfferingCostsAccruedButNotPaid
270000 usd
CY2023Q1 pcor Stock Based Compensation Capitalized For Software Development
StockBasedCompensationCapitalizedForSoftwareDevelopment
2053000 usd
CY2022Q1 pcor Stock Based Compensation Capitalized For Software Development
StockBasedCompensationCapitalizedForSoftwareDevelopment
2122000 usd
CY2023Q1 pcor Conversion Of Available For Sale Debt Securities Into Equity Securities
ConversionOfAvailableForSaleDebtSecuritiesIntoEquitySecurities
0 usd
CY2022Q1 pcor Conversion Of Available For Sale Debt Securities Into Equity Securities
ConversionOfAvailableForSaleDebtSecuritiesIntoEquitySecurities
3292000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2615000 usd
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
6993000 usd
CY2023Q1 pcor Noncash Net Change Due To Operating Lease Remeasurements
NoncashNetChangeDueToOperatingLeaseRemeasurements
0 usd
CY2022Q1 pcor Noncash Net Change Due To Operating Lease Remeasurements
NoncashNetChangeDueToOperatingLeaseRemeasurements
-1676000 usd
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt;text-indent:24.48pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates</span></div><div style="margin-bottom:12pt;text-indent:24.48pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Management periodically evaluates its estimates and assumptions for continued reasonableness, primarily with respect to revenue recognition, the period of benefit of contract cost assets, the fair value of assets acquired and liabilities assumed in a business combination, stock-based compensation expense, including the fair value of the Company’s common stock prior to the effective date of the Company’s initial public offering (“IPO”), the recoverability of goodwill and long-lived assets, useful lives of long-lived assets, capitalization of software development costs, income taxes, including related reserves and allowances, and self-insurance reserve estimates. Appropriate adjustments, if any, to the estimates used are made prospectively based upon such periodic evaluation. Management bases its estimates on historical experience and on various other assumptions that management believes to be reasonable. Actual results could differ from the Company's estimates.</span></div>
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q1 us-gaap Debt Securities Available For Sale Allowance For Credit Loss Not Previously Recorded
DebtSecuritiesAvailableForSaleAllowanceForCreditLossNotPreviouslyRecorded
0 usd
CY2023Q1 us-gaap Receivables From Customers
ReceivablesFromCustomers
17000000 usd
CY2022Q4 us-gaap Receivables From Customers
ReceivablesFromCustomers
13600000 usd
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
3400000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2100000 usd
CY2023Q1 us-gaap Self Insurance Reserve
SelfInsuranceReserve
2100000 usd
CY2022Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
1900000 usd
CY2023Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:6pt;text-indent:24.48pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of credit risk</span></div><div style="margin-bottom:12pt;text-indent:24.48pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company maintains its cash, cash equivalents, and marketable securities balances with major financial institutions that typically exceed federally insured limits. Following the closure of Silicon Valley Bank in March 2023, the Company’s checking, saving, and investment accounts were subsequently assumed by First Citizens Bank &amp; Trust Company (“First Citizens Bank”). As of March 31, 2023, less than 1% of the Company's total cash, cash equivalents, and marketable securities balances were held in deposit accounts at First Citizens Bank, and all other amounts with First Citizens Bank were held in money market funds. The vast majority of the Company's cash and cash equivalents balances were held in the form of money market funds at other large, global financial institutions.</span></div>
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
171500000 usd
CY2022Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
128200000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
805500000 usd
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.73
CY2023Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
274029000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
124000 usd
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
308000 usd
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
273845000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
286001000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
14000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
522000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
285493000 usd
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
103900000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
0 usd
CY2022Q4 us-gaap Investments
Investments
11043000 usd
CY2023Q1 pcor Interest Accrued On Available For Sale Debt Securities
InterestAccruedOnAvailableForSaleDebtSecurities
2000 usd
CY2023Q1 pcor Payments To Acquire Strategic Investments
PaymentsToAcquireStrategicInvestments
149000 usd
CY2023Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
36000 usd
CY2023Q1 us-gaap Investments
Investments
11230000 usd
CY2021Q4 us-gaap Investments
Investments
7332000 usd
CY2022Q1 pcor Interest Accrued On Available For Sale Debt Securities
InterestAccruedOnAvailableForSaleDebtSecurities
101000 usd
CY2022Q1 pcor Payments To Acquire Strategic Investments
PaymentsToAcquireStrategicInvestments
2329000 usd
CY2022Q1 pcor Conversion Of Securities
ConversionOfSecurities
0 usd
CY2022Q1 us-gaap Unrealized Gain Loss On Investments
UnrealizedGainLossOnInvestments
42000 usd
CY2022Q1 us-gaap Investments
Investments
9804000 usd
CY2023Q1 pcor Impairment Losses On Strategic Investments
ImpairmentLossesOnStrategicInvestments
0 usd
CY2022Q1 pcor Impairment Losses On Strategic Investments
ImpairmentLossesOnStrategicInvestments
0 usd
CY2023Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
582824000 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
316048000 usd
CY2023Q1 pcor Operating Lease Right Of Use Assets Operating Lease Liabilities
OperatingLeaseRightOfUseAssetsOperatingLeaseLiabilities
2600000 usd
CY2022Q1 pcor Operating Lease Right Of Use Assets Operating Lease Liabilities
OperatingLeaseRightOfUseAssetsOperatingLeaseLiabilities
7000000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
223483000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
69861000 usd
CY2023Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
153622000 usd
CY2023Q1 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P4Y9M18D
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
223480000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
60527000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
162953000 usd
CY2022 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P5Y1M6D
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9334000 usd
CY2022Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9662000 usd
CY2023Q1 us-gaap Goodwill
Goodwill
539100000 usd
CY2022Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q1 pcor Accrued Commissions And Bonuses Current
AccruedCommissionsAndBonusesCurrent
8350000 usd
CY2022Q4 pcor Accrued Commissions And Bonuses Current
AccruedCommissionsAndBonusesCurrent
28357000 usd
CY2023Q1 pcor Accrued Commissions
AccruedCommissions
9523000 usd
CY2022Q4 pcor Accrued Commissions
AccruedCommissions
20389000 usd
CY2023Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
37770000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
34113000 usd
CY2023Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
13982000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
16323000 usd
CY2023Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
69625000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
99182000 usd
CY2023Q1 us-gaap Purchase Obligation
PurchaseObligation
45000000 usd
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5723772 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.65
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
272032 shares
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
13.42
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
3897 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
22.58
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
5447843 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.61
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5362988 shares
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.41
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
600000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P0Y3M18D
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
44938000 usd
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37209000 usd
CY2023Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2122000 usd
CY2022Q1 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2166000 usd
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
47060000 usd
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
39375000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000 usd
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000 usd
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14191239 shares
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14402567 shares
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
213526000 usd
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
159516000 usd

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