Procore Technologies beats Q4 revenue estimates

Procore Technologies

12/02/2026 21:21

Overview

Construction software provider's Q4 revenue rose 16% yr/yr, beating analyst expectations

Adjusted EPS for Q4 beat analyst expectations

Company announced acquisition of Datagrid to boost AI strategy

Outlook

Procore expects Q1 2026 revenue between $351 mln and $353 mln

Company projects full-year 2026 revenue of $1,489 mln to $1,494 mln

Procore anticipates 2026 non-GAAP operating margin of 17.5% to 18%

Result Drivers

CUSTOMER ADOPTION - Increase in organic customers contributing over $100,000 and $1,000,000 in annual recurring revenue boosted Q4 results

AI STRATEGY - Acquisition of Datagrid to accelerate AI strategy and enhance data integration for customers

CASH FLOW - Record free cash flow driven by strong operating cash inflow and strategic management

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$349.11 mln
$340.77 mln (20 Analysts)
Q4 Adjusted EPS
Beat
$0.37
$0.35 (19 Analysts)
Q4 EPS
-$0.25
Q4 Net Income
-$37.60 mln
Q4 Gross Margin
80.00%
Q4 Adjusted Gross Margin
84.00%
Q4 Gross Profit
$279.70 mln
Q4 Operating Expenses
$322.50 mln
Q4 Operating Income
-$42.80 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy"

Wall Street's median 12-month price target for Procore Technologies Inc is $85.00, about 74.8% above its February 11 closing price of $48.64

The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 46 three months ago

Press Release: ID:nBw9gqpZsa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)