Quarterly ResultJul 29, 2026, 04:14 PM
Procore Q2 Revenue $375M, Achieves GAAP Operating Profitability
AI Summary
Procore Technologies, Inc. announced strong financial results for the second quarter ended June 30, 2026, with revenue increasing 16% year-over-year to $375 million. The company achieved GAAP operating profitability for the first time, reporting a 1% GAAP operating margin and a 21% non-GAAP operating margin. Procore also saw significant growth in free cash flow, which surged 507% to $65 million, and provided optimistic guidance for the third quarter, full year 2026, and full year 2027.
Key Highlights
- Revenue was $375 million, an increase of 16% year-over-year.
- Achieved GAAP operating profitability with a 1% GAAP operating margin.
- Non-GAAP operating margin reached 21%.
- Free cash inflow for the quarter was $65 million, up 507% year-over-year.
- Customers contributing over $100,000 ARR totaled 2,871, a 14% increase YoY.
- Q3 2026 revenue guidance is $382 million to $384 million.
- Full Year 2026 revenue guidance is $1,510 million to $1,514 million.
- Full Year 2027 non-GAAP operating margin is expected to be 25%.
Price Impact
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