PCOR
Procore Technologies, Inc.72.26
-0.09-0.12%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
AI traction metrics surface
Q&A revealed concrete AI traction—66,000 unique active users across 700 upmarket customers creating thousands of agents—beyond prepared remarks' examples. Gopal detailed Data Grid's ERP connectors accelerating agentic workflows, with monetization via upcoming bundles and consumption experiments. International progress lags macro headwinds but validates GTM model; FY26 GTM capacity supports 400bps margin expansion via productivity. Bookings hit broadest record ever. Procore AI hooks 700 customers fast. No walk-backs; management reaffirmed momentum. Investors eye AI pricing rollout.
Key Stats
Market Cap
11.23BP/E (TTM)
-Basic EPS (TTM)
-0.84Dividend Yield
0%Recent Filings
8-K
CFO, CRO leadership transition
Procore appointed Rachel Pyles as CFO Designate effective March 10, 2026, transitioning to full CFO on April 1, 2026, succeeding Howard Fu, who shifts to advisory. Robert Walter Hearn joins as CRO Designate, replacing Lawrence Stack similarly. New leaders bring tech finance and sales expertise. Guidance reaffirmed. Transitions demand smooth handoffs.
10-K
FY2025 results
Procore delivered FY2025 revenue of $1.3B, up 15% y/y, with net loss narrowing to $100.8M from $106.0M. Customers contributing >$100K ARR grew 16% y/y to 2,710 (66% of total ARR), while >$1M ARR customers surged 34% y/y to 115 (20% of ARR); GRR held steady at 95%. Q4 details undisclosed, but cRPO rose 22% y/y to $1.0B with $300M remaining capacity under new buyback program after repurchasing $129M shares. Liquidity strong at $811M cash/securities. Construction spending volatility threatens momentum.
8-K
Board shakeup: resignation, new director
Procore Technologies' board saw Brian Feinstein resign voluntarily on December 9, 2025, with no disagreements cited, prompting immediate appointment of independent director Ronald Hovsepian to fill the Class I seat through the 2028 annual meeting. Hovsepian joins the Compensation and Nominating Committees. He snags $48,100 base pay plus $530,000 initial RSUs vesting over three years.
8-K
CEO transition complete
Procore completed its CEO transition on November 10, 2025, with Dr. Ajei Gopal assuming the role after Q3 results announcement, as founder Craig Courtemanche steps down as CEO but stays Board Chair. No disagreements prompted the voluntary resignation. Board awarded Courtemanche $500,000 cash bonus, FY25 bonus eligibility, benefits for 12 months, and $3.0 million target PSUs vesting if he supports Gopal through November 2026. Transition smooth.
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