Procore Technologies (PCOR) financial statements
Procore Technologies reported revenue of $1.3B in fiscal 2025, up 28.8% a year over 6 years.
Net income was -$101M and the operating margin -9.4%, against -28.6% in 2019.
Free cash flow was $217M, and the company returned $129M in net buybacks.
The diluted share count rose 517% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Procore Technologies's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $289M | $400M | $515M | $720M | $950M | $1.2B | $1.3B |
| Cost of revenue | $53M | $72M | $98M | $148M | $174M | $206M | $271M |
| Gross profit | $236M | $329M | $417M | $572M | $776M | $946M | $1.1B |
| Research and development | $87M | $125M | $237M | $271M | $301M | $313M | $362M |
| Selling, general and admin | $232M | $262M | $465M | $591M | $691M | $770M | $814M |
| Operating income | -$83M | -$59M | -$286M | -$290M | -$216M | -$136M | -$124M |
| Interest expense | $930,000 | $2M | $2M | $2M | $2M | $2M | $1M |
| Pre-tax income | -$83M | -$97M | -$289M | -$286M | -$188M | -$104M | -$94M |
| Income tax | $71,000 | -$993,000 | -$24M | $466,000 | $1M | $2M | $7M |
| Net income | -$83M | -$96M | -$265M | -$287M | -$190M | -$106M | -$101M |
| EPS (diluted) | -$3.41 | -$3.56 | -$2.86 | -$2.10 | -$1.34 | -$0.72 | -$0.67 |
| Diluted shares | 24M | 28M | 93M | 137M | 142M | 147M | 150M |
| Gross margin | 81.6% | 82.1% | 80.9% | 79.4% | 81.6% | 82.1% | 79.5% |
| Operating margin | -28.6% | -14.6% | -55.5% | -40.3% | -22.7% | -11.8% | -9.4% |
| Net margin | -28.7% | -24.0% | -51.5% | -39.8% | -20.0% | -9.2% | -7.6% |
Balance sheet
Fiscal years, from Procore Technologies's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $118M | $380M | $586M | $582M | $678M | $775M | $768M |
| Receivables | — | $78M | $114M | $149M | $207M | $246M | $288M |
| Total current assets | — | $488M | $752M | $799M | $956M | $1.1B | $1.2B |
| Property, plant and equipment | — | $30M | $37M | $39M | $36M | $44M | $49M |
| Goodwill | $115M | $126M | $541M | $539M | $539M | $550M | $574M |
| Total assets | — | $821M | $1.7B | $1.7B | $1.9B | $2.1B | $2.2B |
| Total current liabilities | — | $262M | $404M | $532M | $642M | $728M | $885M |
| Total liabilities | — | $365M | $501M | $624M | $738M | $813M | $977M |
| Shareholders' equity | -$254M | -$272M | $1.2B | $1.1B | $1.2B | $1.3B | $1.3B |
| Net debt | -$118M | -$380M | -$586M | -$297M | -$358M | -$438M | -$481M |
Cash flow
Fiscal years, from Procore Technologies's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$7M | $22M | $37M | $13M | $92M | $196M | $300M |
| Capital spending | $28M | $19M | $28M | $49M | $45M | $69M | $84M |
| Free cash flow | -$35M | $3M | $9M | -$37M | $47M | $128M | $217M |
| Stock-based compensation | $19M | $44M | $227M | $163M | $175M | $187M | $238M |
| Share buybacks (net) | — | — | — | — | $0 | $0 | -$129M |
| Free cash flow margin | -12.1% | 0.7% | 1.8% | -5.1% | 4.9% | 11.1% | 16.4% |
Questions
What was Procore Technologies's revenue in 2025?
$1.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does Procore Technologies generate?
$217M in fiscal 2025 (operating cash flow minus capital spending).
From Procore Technologies's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.