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Investor Relations14 Oct 2025
Boost Your Earnings Season Strategy With Real‑Time Alerts
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Procore (PCOR) investor relations material
Procore Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary31 Jul, 2025
Executive summary
Q2 2025 revenue grew 14% year-over-year to $324M, with 82% from existing customers and 18% from new customers, and strong performance in large deals and customer expansion across industries and geographies.
Customer base reached 17,501, up 4% year-over-year, with 2,517 customers contributing over $100K in ARR, a 15% increase.
Gross retention rate remained strong at 95% as of June 30, 2025.
Hosted Innovation Summit, introduced AI-driven product advancements, and achieved FedRAMP "In Process" status.
Announced acquisitions of Novorender and Flypaper Technologies to enhance 3D BIM capabilities.
Financial highlights
Q2 non-GAAP operating income was $44M, with a non-GAAP operating margin of 13%, up 300 basis points sequentially but down from 18% year-over-year.
Net loss for Q2 2025 was $21.1M, compared to $6.3M in Q2 2024; non-GAAP net income was $52.9M.
GAAP gross margin was 79%; non-GAAP gross margin was 83%.
Free cash flow for Q2 was $10.6M; net cash provided by operating activities was $96.9M for the first half of 2025.
Cash, cash equivalents, and marketable securities totaled $706.7M as of June 30, 2025.
Outlook and guidance
Q3 2025 revenue expected between $326M and $328M, representing 10–11% year-over-year growth.
Full-year 2025 revenue guidance raised to $1.299B–$1.302B, up 13% year-over-year.
Non-GAAP operating margin for Q3 and full year expected in the range of 13% to 13.5%.
Margin expansion expected to drive Rule of 40 improvement in FY26, with profitability as the main lever.
Management expects near-term disruption from go-to-market changes but anticipates long-term efficiency and growth.
Explain drivers of margin expansion opportunities.
Assess impact of Novorender and Flypaper acquisitions.
What is driving the RPO growth?
How does Procore's pricing meet customer needs?
Assess go-to-market transition's impact.
What drives Rule of 40 improvement in '26?
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Investor Update16 Oct, 2025
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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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