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 ...

Core Viewpoint - Procore Technologies (PCOR) shows a significantly improving earnings outlook, making it a strong investment choice as analysts continue to raise earnings estimates for the company [1][3]. Estimate Revisions - The trend in estimate revisions reflects growing analyst optimism regarding Procore's earnings prospects, which is expected to positively influence its stock price [2]. - For the current quarter, Procore is projected to earn $0.11 per share, indicating a year-over-year decline of 35.29%. However, the Zacks Consensus Estimate has increased by 14.29% over the last 30 days, with four estimates rising and one falling [4]. - For the full year, the earnings estimate stands at $1.03 per share, representing a substantial increase of 243.33% from the previous year. The consensus estimate has risen by 19.64% due to six upward revisions against one downward revision [5]. Zacks Rank - Procore Technologies currently holds a Zacks Rank 2 (Buy), attributed to favorable estimate revisions. This ranking system has a proven track record of helping investors capitalize on earnings estimate trends [6]. - Stocks with Zacks Rank 1 (Strong Buy) and 2 (Buy) have historically outperformed the S&P 500, indicating a positive outlook for Procore [6]. Performance and Outlook - The stock has gained 12.9% over the past four weeks, driven by solid estimate revisions, suggesting that its earnings growth prospects may lead to further stock price increases [7].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ FORM 10-Q _________________________________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ ...

Procore Technologies (PCOR) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.21 per share. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this construction management software would post earnings of $0.24 per share when it actually produced earnings of $0.39, delivering a surprise of 62.50%. Over the ...