Quarterly ResultMay 5, 2026, 07:28 AM
Procore Q1 Revenue $359M, Non-GAAP EPS $0.34; Raises FY Outlook
AI Summary
Procore Technologies announced strong first quarter 2026 financial results, with revenue increasing 16% year-over-year to $359 million and non-GAAP diluted EPS reaching $0.34. The company exceeded its guidance and subsequently raised its full-year 2026 outlook for both revenue and non-GAAP operating margin. Key business highlights included a 95% gross revenue retention rate, a 20% increase in free cash inflow, and the repurchase of $100 million in common stock.
Key Highlights
- Revenue increased 16% year-over-year to $359 million in Q1 2026.
- Non-GAAP diluted EPS was $0.34, up from $0.23 in Q1 2025.
- Free cash inflow for Q1 was $56 million, a 20% increase year-over-year.
- Repurchased approximately $100 million of common stock in Q1.
- Customers contributing over $100,000 ARR grew 16% YoY to 2,795.
- Full-year 2026 revenue outlook raised to $1,499 million to $1,503 million.
- Full-year 2026 non-GAAP operating margin outlook is 18% to 18.5%.
- Appointed Vishal Misra to Procore's Board of Directors.