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Procore Technologies, Inc.

PCOR

Technology · 53.22 -1.7% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

Procore Technologies, Inc.'s current read is isolated; its market group is not confirming.

The latest filing evidence is available. 0 of 36 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.

What changed
  • Revenue increased 15.7% versus the comparable filing period.
Company-1.7% todayVolume comparison unavailable
Market group0 of 36 activeSoftware - Application · unavailable
Disclosed network0 of 1 confirmingNo filing-linked name is confirming now
What would change this read
  • Number of customers contributing >$100,000 ARR rose from 2,418 to 2,795 year-over-year, a 16% increase.

Invalidation: The isolated read changes if PCOR's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Technology · Software - Application

The latest filing evidence is available. 0 of 36 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 1 directly disclosed connection is confirming.

Evidence that supports
  • Revenue increased 15.7% versus the comparable filing period.
  • The operating loss narrowed by 20.6M.
Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Number of customers contributing >$100,000 ARR rose from 2,418 to 2,795 year-over-year, a 16% increase.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods7
Price observations327
Usable filing statements156
Verified relationships2
Evidence supporting the case
  • Latest annual revenue changed +14.8% year over year.
  • Operating margin changed +2.4 percentage points in the latest annual period.
  • Net margin changed +1.6 percentage points in the latest annual period.
  • Macroeconomic conditions has repeated favorable evidence across 4 filings.
Evidence challenging the case
  • Product pipeline and R&D has repeated adverse evidence across 5 filings.
  • Credit and interest rates has repeated adverse evidence across 3 filings.
Questions before a position

No credible peer-relative valuation comparison is available yet.

Longer-term price context

Price as of Sep 10, 2026

53.22
6m-5.1%12m-24.0%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2021-12-31$514.8M+28.6%$-2.86
2022-12-31$720.2M+39.9%$-2.10+47.3%
2023-12-31$950.0M+31.9%$-1.34+4.0%
2024-12-31$1.2B+21.2%$-0.72+3.9%
2025-12-31$1.3B+14.8%$-0.67+1.9%

What management says matters

Persistent and emerging business drivers

Legal and regulatory exposuremixed · 5 filings
Six Months Ended June 30, Change 2026 2025 Dollar Percent (dollars in thousands) General and administrative $ 125,050 $ 111,313 $ 13,737 12 % The increase in general and administrative expenses during the six months ended June 30, 2026 was primarily due to an…
10-Q · Jul 31, 2026
Product pipeline and R&Dnegative · 5 filings
The increases in research and development expenses were partially offset by a $4.0 million decrease in personnel-related expenses for salaries and wages.
10-Q · Jul 31, 2026
Macroeconomic conditionspositive · 4 filings
Despite macroeconomic challenges, we have seen an increase in the number of customers that contributed more than $100,000 of annual recurring revenue (“ARR”), which increased from 2,517 as of June 30, 2025 to 2,871 as of June 30, 2026, reflecting a year-over-…
10-Q · Jul 31, 2026
Credit and interest ratesnegative · 3 filings
Interest Income, Interest Expense, Accretion Income, Net, Other Income, Net, and (Benefit from) Provision for Income Taxes Six Months Ended June 30, Change 2026 2025 Dollar Percent (dollars in thousands) Interest income $ 8,944 $ 11,012 $ (2,068) (19 %) Inter…
10-Q · Jul 31, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 6.0× · EV/sales 5.7×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

53.22-1.7% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for PCOR. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Latest filing assessment · baseline

Fundamentals strengthened in the latest filing

10-Q filed 2026-05-06 against the comparable filing from 2025-05-02.

constructive
OperationsconstructiveEvidence score +3
liquidityneutralEvidence score 0
valuationpremium

What improved

  • Revenue increased 15.7% versus the comparable filing period.
  • The operating loss narrowed by 20.6M.

What weakened

No thresholded deterioration was identified.

Filing receipts

The $0.4 million of net cash outflows provided as a result of changes in our operating assets and liabilities primarily reflected the following: • a $51.2 million decrease in accrued expenses and other liabilities primarily due to the size and timing of bonus and commission accruals and payouts, accrued ESPP contributions, payroll, and cash payments to our vendors; • a $33.6 million decrease in deferred revenue primarily due to timing of billings and seasonality; • a $10.7 million increase in prepaid expenses and other assets primarily due to timing of cash payments to our vendors; • a $6.9 million decrease in accounts payable primarily due to timing of cash payments to our vendors; and • a...

The $24.0 million of net cash inflows provided as a result of changes in our operating assets and liabilities primarily reflected an $86.3 million decrease in accounts receivable primarily due to timing of billings and cash receipts from customers, which was partially offset by the following: • a $26.6 million decrease in deferred revenue primarily due to timing of billings and seasonality; • a $11.1 million decrease in accounts payable primarily due to timing of cash payments to our vendors.

a $9.9 million decrease in accrued expenses and other liabilities primarily due to the size and timing of bonus and commission accruals and payouts, accrued ESPP contributions, payroll, and cash payments to our vendors; • a $7.5 million increase in prepaid expenses and other assets primarily due to timing of cash payments to our vendors; and • a $6.6 million increase in deferred contract cost assets related to commissions as a result of additional customer contracts closed and a higher capitalization rate during the period.

Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.

Business ecosystem

The relationships behind PCOR

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depended on by

ADSKAutodesk, Inc.competitorMar 3, 2026

Our primary global competitors include Adobe Systems Incorporated, Bentley Systems, Inc., Dassault Systèmes S.A.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

PCOR is currently a Follower in the organic co-movement group Software - Application. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 1 filing-linked name are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.