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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Procore Technologies
Procore Technologies (PCOR) investor relations material
Procore Technologies Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary30 Jul, 2026
Executive summary
Q2 2026 revenue grew 16% year-over-year to $375–$375.2 million, with strong international and U.S. contributions and expansion of subscriptions.
Achieved first quarter of GAAP operating profitability, with net income of $16.9 million versus a prior-year loss, and significant non-GAAP margin expansion.
Announced $845 million acquisition of DroneDeploy, expected to accelerate AI strategy, expand product capabilities, and be accretive to organic revenue growth, funded by committed bridge financing.
Raised annual revenue and margin guidance, reflecting robust demand, market momentum, and execution discipline.
Completed Datagrid acquisition for $168 million and launched new AI-driven platform enhancements and digital coworkers.
Financial highlights
Q2 2026 revenue: $375–$375.2 million (up 16% YoY); net income: $16.9 million; gross margin: 80% GAAP, 84% non-GAAP.
Free cash flow was $65 million, up 507% year-over-year; operating cash flow reached $88 million, up 185–186% YoY.
Non-GAAP operating margin was 21–21.5% in Q2, up 800 bps YoY; GAAP operating margin improved to 1%.
Gross revenue retention rate was 95%; $100K+ ARR customers grew 14% YoY to 2,871.
Remaining performance obligations grew 24% YoY to $1.67 billion; CRPO grew 22% YoY.
Outlook and guidance
Q3 2026 revenue expected between $382–$384 million (up 13.3% YoY); non-GAAP operating margin expected at 19–19.5%.
FY26 revenue guidance raised to $1.51–$1.514 billion (up 14.5% YoY); non-GAAP operating margin expected at 18.5–19%; free cash flow margin at 19.5%.
FY27 non-GAAP operating margin targeted at 25%.
Management expects continued investment in technology innovation, international expansion, and integration of recent acquisitions.
Liquidity is sufficient for at least the next 12 months, even with the planned DroneDeploy acquisition.
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Latest events from Procore Technologies
- Leadership transition accelerates AI focus, margin gains, and wallet share expansion.PCOR
2026 Jefferies Software, Internet, and AI Conference - Revenue up 16% to $359.3M, margin expansion, Datagrid AI acquisition, and $100M buybacks.PCORQ1 2026
- 2025 saw robust growth, enhanced AI-driven offerings, and strengthened governance and compensation alignment.PCORProxy filing
- Virtual annual meeting to vote on directors, auditor, and executive pay, with board support.PCORProxy filing
- Strong revenue growth, record free cash flow, and AI momentum drive 2026 optimism.PCORQ4 2025
- Q3 2025 delivered 15% revenue growth, margin gains, and a new $300M stock repurchase program.PCORQ3 2025
- Regionalized GTM, platform innovation, and $300M buyback drive growth and margin expansion.PCORInvestor Day 2024
- Q2 revenue up 24% to $284.3M, with record margin and Intelliwave acquisition supporting growth.PCORQ2 2024
- Revenue grew 21% in 2024; FY25 guidance raised for revenue and margins.PCORQ4 2024
Next Procore Technologies earnings date
Q3 20264 Nov, 2026
Procore Technologies
Next Procore Technologies earnings date
Q3 20264 Nov, 2026
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Frequently asked questions
Construction Management Software
Procore Technologies was established in 2003 and provides modern software solutions to the construction industry, helping construction professionals streamline their projects using cloud-based applications. Addressing various industry needs, its software facilitates project management, quality & safety assurance, financials, and field productivity. With the construction sector often seen as traditional and slow to adapt, Procore’s introduction of these tools has played a part in bridging the gap between construction and technology.
A Clear Vision
The journey of Procore began in the early 2000s when its founder, Craig Courtemanche, identified a gap in the construction sector for specialized project management software. What started as a solution for a single construction project quickly transformed into a broader vision of reshaping the industry's approach to project management. Over the years, Procore has consistently expanded its software suite to cater to increasingly diverse construction industry needs and the company has grown substantially from its foundation. Its main objective has always been to provide services for construction teams to collaborate effectively, irrespective of their location, thus maximizing efficiency and minimizing potential errors.
Features and Functionalities
Procore's software suite is comprehensive. The platform integrates multiple aspects of construction management into one unified interface. Users can access tools for document management, drawing revisions, and schedules, ensuring everyone is updated in real time. Financial tools integrated into the platform help streamline budgeting, bidding, and invoicing processes, ensuring transparency and preventing costly miscommunications. Additionally, with the shift toward mobile devices in many professional settings, Procore has ensured its software is fully functional on tablets and smartphones. This mobile accessibility ensures that on-site workers can quickly report progress, changes, or issues, thus ensuring a continuous flow of information.
Adapting to Industry Evolution
Like nearly every industry, the construction business rapidly evolves as time progresses and Procore has been quick to adapt to changing needs. With increasing emphasis on sustainability, energy efficiency, and green construction practices, the company has integrated features that assist in these areas, ensuring projects remain compliant with the latest industry standards. Furthermore, recognizing the global nature of construction projects, the platform supports collaboration across borders with tools that assist with different languages and currency conversions. Procore is also developing its platform, utilizing new technology and AI to make its software more powerful. Companies offering competing or similar products include names such as Autodesk and Oracle.