Procore Technologies Inc
PCOR.US Full Coverage
Last updated:
Volume
52W avg
Day Range
52W High
52W Low
Market Cap
Div Yield
Forward P/E
P/B
Headlines
FY2026 Q1
Procore Technologies posted Q1 results that topped the high end of guidance, delivering 15.7% year‑over‑year revenue growth to $359.3 million and expanding non‑GAAP operating margin by 700 basis points to 17.0%. Management said the Datagrid acquisition is on track to launch “Procore AI” under a consumption‑based model in Q3 2026, supporting a raised full‑year 2026 revenue outlook of $1.499‑$1.503 billion and a non‑GAAP margin target of 18.0%‑18.5%.
Revenue
$359.3M
+15.7%
Non-GAAP Operating Margin
17.0%
+650 bps
Current RPO (cRPO)
$1,019.5M
+21.0%
FY 2026 Revenue Guidance
$1.499B – $1.503B
Raised
Free Cash Flow
$56.0M
+19.9%
What We're Watching
Strategic
AI Go-to-Market Execution
📅
Q3 2026
What to Monitor
Progress on enabling the broader sales force to sell Procore AI. Monitor for initial deal momentum and customer feedback from the scaled rollout, and any refinement of the consumption-based pricing model.
Why It Matters
This is the most critical strategic initiative. The Q3 rollout marks the transition from a limited, specialist-led sale to a broad commercial launch. Successful execution is essential to validating the AI growth thesis and beginning to realize a new revenue stream.
Operational
New C-Suite Execution
📅
Ongoing
What to Monitor
Commentary from the new CRO, Walt Hearn, on his assessment of the GTM organization and any strategic changes. Monitor for continued discipline in financial forecasting and capital allocation under the new CFO, Rachel Pyles.
Why It Matters
The CEO explicitly brought in a new leadership team to "move really fast." Their initial impact on sales strategy, operational efficiency, and financial discipline will be a key indicator of the company's ability to accelerate its execution cadence.
Opportunity
Internal AI for Margin Leverage
📅
Ongoing (Impact expected in "2027 and beyond")
What to Monitor
Early proof points or metrics on internal productivity gains, particularly from the R&D organization. Track any commentary on the rollout of internal AI tools to other departments like G&A and Sales & Marketing.
Why It Matters
Management introduced this as a new, long-term driver of profitability. Demonstrating early success here would add a significant margin expansion lever to the investment case, de-risking long-term margin targets.
Risk
Guidance Shape & Implied Growth Trajectory
📅
Next Quarter
What to Monitor
Q2 actual revenue growth versus the guided YoY deceleration. Monitor management's tone regarding second-half visibility and whether the implied back-half re-acceleration remains achievable.
Why It Matters
Analysts repeatedly questioned the guidance shape. While management described it as a "mechanical" result of their conservative philosophy, a failure to meet or beat the Q2 guide could raise concerns about underlying business momentum.
Operational
Core Product Adoption (Procore Scheduling)
📅
Ongoing
What to Monitor
Updated adoption numbers for Procore Scheduling, which surpassed 2,000 companies shortly after launch. Monitor for commentary on how this product is driving platform consolidation or creating cross-sell opportunities.
Why It Matters
While AI is the key strategic focus, strong adoption of new core products is crucial for defending the flagship platform and sustaining durable growth. This metric serves as a health check on the core business innovation engine.
