2024 Q4 Form 10-Q Financial Statement

#000162828024044546 Filed on October 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $295.9M
YoY Change 19.35%
Cost Of Revenue $54.95M
YoY Change 24.54%
Gross Profit $240.9M
YoY Change 18.23%
Gross Profit Margin 81.43%
Selling, General & Admin $196.6M
YoY Change 8.38%
% of Gross Profit 81.62%
Research & Development $80.79M
YoY Change 11.12%
% of Gross Profit 33.53%
Depreciation & Amortization $24.23M
YoY Change 36.68%
% of Gross Profit 10.06%
Operating Expenses $277.4M
YoY Change 9.17%
Operating Profit -$36.50M
YoY Change -27.51%
Interest Expense $5.474M
YoY Change 1017.14%
% of Operating Profit
Other Income/Expense, Net $466.0K
YoY Change -195.88%
Pretax Income -$26.74M
YoY Change -38.74%
Income Tax -$353.0K
% Of Pretax Income
Net Earnings -$26.39M
YoY Change -39.82%
Net Earnings / Revenue -8.92%
Basic Earnings Per Share -$0.18
Diluted Earnings Per Share -$0.18
COMMON SHARES
Basic Shares Outstanding 148.7M shares 147.7M shares
Diluted Shares Outstanding 148.1M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $756.9M
YoY Change 20.82%
Cash & Equivalents $439.3M
Short-Term Investments $317.7M
Other Short-Term Assets $54.25M
YoY Change 25.87%
Inventory
Prepaid Expenses
Receivables $173.4M
Other Receivables $0.00
Total Short-Term Assets $1.017B
YoY Change 20.76%
LONG-TERM ASSETS
Property, Plant & Equipment $35.95M
YoY Change -3.82%
Goodwill $550.2M
YoY Change 2.06%
Intangibles $131.8M
YoY Change
Long-Term Investments $52.28M
YoY Change
Other Assets $19.69M
YoY Change 5.37%
Total Long-Term Assets $1.002B
YoY Change 6.48%
TOTAL ASSETS
Total Short-Term Assets $1.017B
Total Long-Term Assets $1.002B
Total Assets $2.019B
YoY Change 13.22%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.01M
YoY Change 47.87%
Accrued Expenses $91.23M
YoY Change -4.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $649.0M
YoY Change 15.58%
LONG-TERM LIABILITIES
Long-Term Debt $41.85M
YoY Change -4.88%
Other Long-Term Liabilities $5.324M
YoY Change -18.98%
Total Long-Term Liabilities $5.324M
YoY Change -18.98%
TOTAL LIABILITIES
Total Short-Term Liabilities $649.0M
Total Long-Term Liabilities $5.324M
Total Liabilities $733.1M
YoY Change 11.2%
SHAREHOLDERS EQUITY
Retained Earnings -$1.183B
YoY Change 6.6%
Common Stock $15.00K
YoY Change 7.14%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.286B
YoY Change
Total Liabilities & Shareholders Equity $2.019B
YoY Change 13.22%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$26.39M
YoY Change -39.82%
Depreciation, Depletion And Amortization $24.23M
YoY Change 36.68%
Cash From Operating Activities $39.28M
YoY Change 16.65%
INVESTING ACTIVITIES
Capital Expenditures $16.27M
YoY Change 45.12%
Acquisitions
YoY Change
Other Investing Activities $58.62M
YoY Change -397.25%
Cash From Investing Activities $42.35M
YoY Change -236.87%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.000K
YoY Change -99.86%
NET CHANGE
Cash From Operating Activities 39.28M
Cash From Investing Activities 42.35M
Cash From Financing Activities 5.000K
Net Change In Cash 81.63M
YoY Change 1183.49%
FREE CASH FLOW
Cash From Operating Activities $39.28M
Capital Expenditures $16.27M
Free Cash Flow $23.01M
YoY Change 2.44%

Facts In Submission

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us-gaap Payment For Contingent Consideration Liability Financing Activities
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
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OperatingCashFlowsFromLeaseIncentives
394000 usd
pcor Operating Cash Flows From Lease Incentives
OperatingCashFlowsFromLeaseIncentives
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us-gaap Use Of Estimates
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<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 or asset acquisition, stock-based compensation expense, 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, provision for credit losses, incremental borrowing rates and estimation of lease terms applied in lease accounting, 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>
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FiniteLivedIntangibleAssetsAccumulatedAmortization
98105000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
137546000 usd
CY2024Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
10590000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
9290000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30222000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
27898000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
539354000 usd
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
11333000 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-466000 usd
CY2024Q3 us-gaap Goodwill
Goodwill
550221000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2024Q3 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
19058000 usd
CY2023Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
31786000 usd
CY2024Q3 pcor Accrued Commissions
AccruedCommissions
12655000 usd
CY2023Q4 pcor Accrued Commissions
AccruedCommissions
16494000 usd
CY2024Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
43383000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
36171000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
16131000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
15624000 usd
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
91227000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
100075000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
4340052 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.57
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
962063 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
12.86
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
750 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
19.16
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
3377239 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.48
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3377239 shares
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
12.48
CY2024Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
0 usd
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
48175000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
44809000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
137532000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
132234000 usd
CY2024Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3599000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
2706000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
9553000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
6989000 usd
CY2024Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
51774000 usd
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
47515000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
147085000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
139223000 usd
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-400000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
200000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
600000 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2024Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11736869 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13854214 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11889048 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
14360689 shares
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
295885000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
247907000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
849660000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
689969000 usd
CY2024Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.04
us-gaap Restructuring Charges
RestructuringCharges
4185000 usd
CY2024Q3 us-gaap Restructuring Reserve
RestructuringReserve
0 usd
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0001628280-24-044546.txt Edgar Link pending
0001628280-24-044546-xbrl.zip Edgar Link pending
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pcor-20240930.htm Edgar Link pending
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pcor-q324x10xqxexx311.htm Edgar Link pending
pcor-q324x10xqxexx312.htm Edgar Link pending
pcor-q324x10xqxexx321.htm Edgar Link pending
pcor-q324x10xqxexx322.htm Edgar Link pending
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pcor-20240930_cal.xml Edgar Link unprocessable
pcor-20240930_lab.xml Edgar Link unprocessable
pcor-20240930_pre.xml Edgar Link unprocessable
pcor-20240930_htm.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
pcor-20240930_def.xml Edgar Link unprocessable