Core Insights - The article does not provide specific insights or analysis regarding any companies or industries, focusing instead on disclaimers and disclosures related to the author's position and affiliations [1][2]. Summary by Categories - **Company Analysis**: No specific company analysis or performance data is provided in the article [1][2]. - **Industry Insights**: The article lacks any insights or trends related to specific industries [1][2]. - **Market Trends**: There are no discussions on market trends or investment opportunities mentioned [1][2].

Financial Performance - Revenue for 2024 reached $1,151.7 million, representing a year-over-year growth of 21% compared to $950.0 million in 2023[38] - Net losses for 2024 were reported at $106.0 million, an improvement from $189.7 million in 2023[38] - Revenue for 2024 was $1,151.7 million, up from $950.0 million in 2023 and $720.2 million in 2022, indicating significant growth but a declining growth rate[90] - The company incurred net losses of $106.0 million in 2024, $189.7 million in 2023, and $286.9 million in 2022, with an accumulated deficit of $1.2 billion as of December 31, 2024[93] Customer Growth and Engagement - As of December 31, 2024, the number of customers contributing more than $100,000 of annual recurring revenue (ARR) increased to 2,333, reflecting a year-over-year growth of 16%[38] - The number of customers on the platform grew to 17,088 as of December 31, 2024, showing a year-over-year increase of 4%[38] - Customers contributing more than $1,000,000 of ARR increased to 86, marking a year-over-year growth of 39%[38] - Customers that contributed more than $100,000 of ARR represented 63% of total ARR in 2024, up from 60% in 2023[38] Product and Technology Development - The platform's capabilities include AI features such as Copilot and Insights, aimed at increasing productivity and reducing risks[52] - The platform supports over 500 integrations through its App Marketplace, enhancing functionality for users[57] - The company aims to increase its business value through network expansion, product innovation, and data utilization, allowing unlimited users without per-seat fees[62] - The company has made acquisitions, including Intelliwave Technologies in 2024 and Unearth Technologies in 2023, to enhance its platform capabilities and integrate innovative features[66] Market Strategy and Expansion - The company plans to expand its sales and marketing efforts to drive awareness and grow its customer base, focusing on owners, general contractors, and specialty contractors[66] - The global market for construction management software is currently underpenetrated, representing a significant opportunity for expansion[66] - The company is investing in expanding its sales and marketing teams, technology infrastructure, and product development to drive future growth[93] - The company plans to hire sales and customer experience teams to expand its international presence and improve customer relationships[67] Operational Challenges and Risks - The overall sentiment in the construction industry remains uncertain, which poses challenges to future growth, particularly due to macroeconomic factors[91] - The company faces high customer acquisition costs due to intensive sales efforts, and any failure to convert these efforts into sales could adversely affect financial performance[108] - Disruptions and adverse impacts to financial and operating results are expected as the company implements its evolved GTM operating model[109] - Future growth is dependent on the ability to attract new customers and retain existing ones, as well as the successful introduction of new products and services[92] Compliance and Regulatory Risks - The company is subject to stringent data privacy and security regulations, which could lead to regulatory investigations, fines, and reputational harm if not complied with[141] - The California Consumer Privacy Act (CCPA) imposes specific obligations on the company regarding personal data, with potential fines for noncompliance[147] - The EU's General Data Protection Regulation (GDPR) allows for fines of up to €20 million or 4% of annual global revenue for certain violations, impacting the company's operations in Europe[148] - The company may face significant consequences if unable to lawfully transfer personal data from the EEA or the U.K. to the U.S., including operational disruptions and increased regulatory scrutiny[154] Cybersecurity and Data Protection - Cyberattacks and malicious activities pose a growing threat to the confidentiality and integrity of sensitive information processed by the company and its third-party partners[162] - The company is vulnerable to increased cyberattack risks during geopolitical conflicts, which could disrupt operations and supply chains[163] - The company faces a variety of evolving cybersecurity threats, including ransomware attacks, which can lead to significant operational interruptions and reputational harm[165] - A significant number of high and critical unremediated vulnerabilities exist in the company's IT systems, and delays in developing remedial measures could lead to exploitation[174] Intellectual Property - The company holds 80 issued patents and 93 pending patent applications in the U.S., with additional patents in foreign countries, indicating a strong focus on intellectual property[78] - As of December 31, 2024, the company held 80 issued patents and had 93 pending patent applications in the U.S.[218] Legal and Litigation Risks - The company may face litigation and disputes that could adversely affect its business and financial condition, with potential increases in operating expenses due to legal proceedings[191] - Increased government scrutiny of the technology industry could lead to investigations and legal actions that may require changes to the company's products and services, impacting business operations[194] - The company may experience reputational harm and financial consequences from potential lawsuits or investigations related to compliance failures[190]

Group 1 - Procore Technologies (NYSE: PCOR) has experienced a 30% increase in share price since the previous buy rating was issued on July 5, 2024, indicating strong structural tailwinds for the company [1] - The investment strategy focuses on long-term investments while also identifying short-term opportunities to generate alpha, emphasizing a bottom-up analysis of individual companies [1] - The investment duration is medium to long-term, with an aim to identify companies that possess solid fundamentals, sustainable competitive advantages, and growth potential [1]

Procore Technologies exceeded revenue expectations but faced challenges with profitability in its latest earnings report.Procore Technologies (PCOR 1.09%), a leading provider of cloud-based construction management software, released its earnings for the fourth quarter of 2024 on February 13, 2025. The company posted revenue of $302 million, exceeding both analyst estimates of $297 million and its own guidance. However, profitability lagged, with non-GAAP EPS coming in at $0.01, well below the analyst foreca ...

Procore Technologies, Inc. (NYSE:PCOR) Q4 2024 Results Earnings Conference Call February 14, 2025 5:00 PM ET Company Participants Alexandra Geller - Head, Investor Relations Tooey Courtemanche - Founder, President and Chief Executive Officer Howard Fu - Chief Financial Officer Conference Call Participants Brent Bracelin - Piper Sandler Joe Vruwink - Robert W. Baird DJ Hynes - Canaccord Brent Thill - Jefferies Saket Kalia - Barclays Dylan Becker - William Blair Adam Borg - Stifel Daniel Jester - BMO Capital ...

Procore Technologies (PCOR) came out with quarterly earnings of $0.01 per share, missing the Zacks Consensus Estimate of $0.11 per share. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -90.91%. A quarter ago, it was expected that this construction management software would post earnings of $0.21 per share when it actually produced earnings of $0.24, delivering a surprise of 14.29%.Over the l ...

Financial Data and Key Metrics Changes - Total revenue in Q4 was $302 million, up 16% year over year, with international revenue growing 19% year over year [25] - Non-GAAP operating income for Q4 was negative $2 million, representing an operating margin of negative 1% [25] - Free cash flow generated was $128 million for the year, representing a year-over-year improvement of 171% [30] Business Line Data and Key Metrics Changes - The number of customers contributing over $1 million in ARR grew by 39% year over year [8] - Current RPO and current deferred revenue grew 1917% year over year [26] - Significant customer wins included large transactions with major companies and expansions with existing customers [9][10] Market Data and Key Metrics Changes - Strength in the quarter came from multiple areas of the business, with strong deal execution and large deals from both new logos and expansions [27] - The owners segment is identified as a significant opportunity, with only 2% logo penetration [36] Company Strategy and Development Direction - The company is focusing on leveraging data and AI to enhance efficiency and reduce risk in construction [13] - A go-to-market transition is underway, with expectations to be fully operational by the second half of the year [20] - The company aims to drive operational excellence and margin expansion while balancing growth [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the construction industry's resilience despite macroeconomic uncertainties [112] - The sentiment in the industry is described as sentiment-driven, with ongoing opportunities for Procore [50] - The company anticipates continued momentum into fiscal '25, with a focus on executing the new sales model [19][31] Other Important Information - The company has made significant investments in AI-powered innovations and platform connectivity [13][14] - Procore Pay is gaining traction, with over 250 customers utilizing the automated invoicing and payments feature [16] Q&A Session Summary Question: What is the sustainability of the owner opportunity? - Management highlighted the strength across all stakeholder segments, emphasizing the significant opportunity in the owners segment [36][38] Question: What drove the early renewals in CRPO? - Early renewals were attributed to strong execution and progress across the total addressable market [40][41] Question: How does the company view the impact of macro indicators on project spending? - Management noted that while the industry is sentiment-driven, essential projects will continue to be built, presenting ongoing opportunities for Procore [50] Question: What is the expected shape of growth in 2025? - Management indicated that productivity is expected to pick up in the latter part of the year, with a focus on executing the new sales model [60] Question: How does the company plan to balance top-line growth and margin expansion? - Management confirmed that margin expansion will continue in 2025, with a focus on optimizing free cash flow per share [81] Question: What feedback has been received regarding AI innovations? - Customers have reported positive experiences with AI tools like Copilot, which provide intelligent answers and assist in project management [102][105]

Exhibit 99.1 Procore Announces Fourth Quarter and Full Year 2024 Financial Results CARPINTERIA, CA – February 13, 2025 -- Procore Technologies, Inc. (NYSE: PCOR), the leading global provider of construction management software, today announced financial results for the fourth quarter and full year ended December 31, 2024. "Our strong topline performance exceeded expectations, reinforcing our momentum heading into FY25," said Tooey Courtemanche, Founder, President, and CEO of Procore. "The magnitude of high- ...

Procore Technologies (NYSE: PCOR ) is a leading global provider of cloud-based construction management software. Their five integrated product categories-Preconstruction, Project Execution, Workforce Management, Financial Management, and Construction Intelligence - enable global contractors to automate their construction lifecycle. I think the company has huge runway for futureMore than 15 years of professional investment experience in global equities across all sectors. My investment style is fundamental, ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.While many investors like to look for moment ...