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Procore Technologies (PCOR) investor relations material
Procore Technologies Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary5 Nov, 2025
Executive summary
Q3 2025 revenue grew 15% year-over-year to $339 million, with strong operating leverage, improved non-GAAP margins, and a 95% gross revenue retention rate.
Net loss for Q3 2025 was $9.1 million, a significant improvement from $26.4 million in Q3 2024, while non-GAAP net income reached $64.6 million.
Leadership transition announced: Ajay Gopal to become CEO, with the founder remaining as Chair of the Board.
The company surpassed $1 trillion in annual construction volume contracted on its platform and completed the acquisition of Novorender AS to enhance 3D modeling.
Continued focus on customer success, platform innovation (notably in AI and analytics), and international expansion.
Financial highlights
Q3 revenue reached $339 million, up 15% year-over-year; international revenue grew 14% (15% constant currency).
Non-GAAP operating income was $59 million, with a 17% non-GAAP operating margin, up from 9% in Q3 2024.
Gross margin was 80% GAAP and 84% non-GAAP for Q3 2025.
Remaining performance obligations rose 31% year-over-year to $1.41 billion.
Free cash flow for Q3 2025 was $67.7 million, up from $23.0 million in Q3 2024.
Outlook and guidance
Q4 2025 revenue expected between $339 million and $341 million, representing 12%-13% year-over-year growth; Q4 non-GAAP operating margin expected at 14.4%.
Full-year 2025 revenue guidance raised to $1.312-$1.314 billion (14% growth); non-GAAP operating margin guidance raised to 14%.
Fiscal 2026 revenue outlook aligns with current Street estimates; formal guidance to be provided after new CEO onboarding.
Management expects continued investment in sales, marketing, and R&D to drive long-term growth.
The company believes its liquidity is sufficient to meet operational needs for at least the next 12 months.
New CEO's operational focus areas
Drivers of Q3 free cash flow growth
Reason for Q4 revenue growth slowdown
Ajei's key focus for Procore's next growth phase?
What drives confidence in FY26 margin expansion?
How will AI leverage Procore's data advantage?
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Next Procore Technologies earnings date
Q4 202513 Feb, 2026
Next Procore Technologies earnings date
Q4 202513 Feb, 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.
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