PROCORE TECHNOLOGIES, INC. reported second-quarter 2026 results with revenue rising to $375.21M and a return to profitability, reporting net income of $16.92M and diluted EPS of $0.11 versus a loss in the prior-year quarter — 10-Q Summary.
Financial Highlights
| MetricCurrent quarterPrior year quarterYoY change | Revenue¹$375.21M$323.92M15.8% | Net income²$16.92M($21.09M)180.2% | Diluted EPS³$0.11($0.14)178.6% |
¹ Reported as “Revenue”. ² Reported as “Net income (loss)”. ³ Reported as “Net income (loss) per share attributable to common stockholders, diluted”.
Business Highlights
- Revenue growth of 16% year-over-year in the quarter was driven largely by expansions from existing customers and strong recurring subscription demand.
- Customers with more than $100K ARR grew 14% YoY to 2,871 and accounted for roughly 68% of total ARR; gross revenue retention remained high at about 95%.
- Procore continued product and capability expansion through acquisitions (Datagrid, Novorender) and announced the acquisition of DroneDeploy to bolster AI, BIM, reality-capture and robotics offerings.
- The company has shifted its GTM model toward general managers with added specialists and increased sales headcount to fuel acquisition, retention and expansion.
- Operational scale improved with cRPO up 22% YoY and gross margin steady at approximately 80%, supporting continued investment in R&D, customer support and international growth.
Original SEC Filing:
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