Procore Technologies Q2 revenue beats estimates

Procore Technologies

31/07/2025 21:31

Overview

Procore Q2 2025 rev grows 14% yr/yr, beating analyst expectations

Non-GAAP operating margin for Q2 at 13%, GAAP margin at -9%

Co announced acquisitions of Novorender and Flypaper Technologies

Outlook

Procore expects Q3 revenue between $326 mln and $328 mln

Company forecasts full-year revenue of $1,299 mln to $1,302 mln

Procore anticipates Q3 non-GAAP operating margin of 13% to 13.5%

Company sees full-year non-GAAP operating margin at 13% to 13.5%

Result Drivers

CUSTOMER RETENTION - Achieved gross revenue retention rate of 95% in Q2

CUSTOMER GROWTH - Number of organic customers contributing over $100,000 in annual recurring revenue increased by 15% yr/yr

ACQUISITIONS - Announced acquisitions of Novorender and Flypaper Technologies to enhance BIM capabilities

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$323.92 mln
$312.40 mln (20 Analysts)
Q2 EPS
-$0.14
Q2 Net Income
-$21.09 mln
Q2 Gross Margin
79.0%
Q2 Adjusted Gross Margin
83.0%
Q2 Basic EPS
-$0.14
Q2 Gross Profit
$256.19 mln
Q2 Operating Expenses
$286.45 mln
Q2 Operating Income
-$30.27 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 8 "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 $77.66, about 4% above its July 30 closing price of $74.51

The stock recently traded at 54 times the next 12-month earnings vs. a P/E of 53 three months ago

Press Release: ID:nBwTBwVTa

(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.)