PROCORE TECHNOLOGIES, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data PROCORE TECHNOLOGIES, INC. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	289	400	515	720	950	1,152	1,323
Cost of revenue	53.2	71.7	98.3	148	174	206	271
Gross profit	236	329	417	572	776	946	1,052
Research and development	87	125	237	271	301	313	362
Selling and marketing	173	189	309	425	495	552	581
General and administrative	58.2	73.5	157	166	196	218	233
Operating expenses	319	387	702	862	991	1,083	1,176
Operating income	-82.6	-58.5	-286	-290	-216	-136	-124
Interest expense	0.93	2.35	2.33	2.14	1.96	1.9	1.15
Other non-operating income	0.52	0.42	-0.84	-1.74	-0.36	-3.14	2.31
Pre-tax income	-83	-97.2	-289	-286	-188	-104	-94
Income tax	0.07	-0.99	-23.8	0.47	1.27	1.78	6.8
Net income	-83.1	-96.2	-265	-287	-190	-106	-101
EBITDA	-67.7	-32.5	-250	-227	-144	-46.7	-13.8
EPS, basic	-3.41	-3.45	-2.86	-2.10	-1.34	-0.72	-0.67
EPS, diluted	-3.41	-3.56	-2.86	-2.10	-1.34	-0.72	-0.67
Shares, basic (weighted)	24.4	27.9	92.7	137	142	147	150
Shares, diluted (weighted)	24.4	27.9	92.7	137	142	147	150

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	118	380	586	297	358	438	481
Short-term investments				285	320	338	288
Receivables		77.7	114	149	207	246	288
Other current assets		16.8	35.2	44.7	42.4	44.1	55.2
Total current assets		488	752	799	956	1,100	1,167
Property, plant and equipment		30.3	36.8	39.2	36.3	43.6	48.6
Lease right-of-use assets		49.8	44.1	41.9	44.1	28.8	36
Goodwill	115	126	541	539	539	550	574
Intangible assets		33.2	202	163	138	121	105
Long-term investments					0	46	42.5
Other non-current assets		10.4	22	21.9	18.6	20.9	24.8
Total assets		821	1,691	1,740	1,894	2,101	2,239
Accounts payable		9.01	15.5	14.3	13.2	33.1	25.2
Accrued liabilities		28.5	65.9	99.2	100	88.7	130
Deferred revenue		213	302	397	502	585	687
Total current liabilities		262	404	532	642	728	885
Lease liabilities		46.6	41.6	38.1	37.9	32.7	45.9
Other non-current liabilities		1.92	4.72	3.05	6.33	5.12	13.8
Total liabilities		365	501	624	738	813	977
Paid-in capital		125	1,852	2,068	2,296	2,536	2,609
Retained earnings		-397	-662	-949	-1,139	-1,245	-1,346
Other comprehensive income		0.19	-0.58	-2.32	-1.38	-2.74	-1.27
Shareholders' equity	-254	-272	1,189	1,117	1,156	1,288	1,262
Total equity	-254	-272	1,189	1,117	1,156	1,288	1,262
Total liabilities and equity		821	1,691	1,740	1,894	2,101	2,239
Shares outstanding		30.7	134	139	145	150	152

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-83.1	-96.2	-265	-287	-190	-106	-101
Depreciation and amortization	14.9	26	36.4	63	71.6	89.8	111
Stock-based compensation	19.2	44	227	163	175	187	238
Deferred income tax	-0.04	-1.31	-24.5	-0.28	-0.77	-0.88	-6.82
Change in receivables	-19.6	-20.1	-34.2	-35.8	-57.5	-39.5	-39.8
Change in payables	0.81	0.72	3.95	0.46	-0.94	19.7	-8.17
Cash from operations	-7	21.9	36.7	12.6	92	196	300
Capital expenditures	-13.1	-7.2	-12.4	-15.8	-10.3	-19.1	-18.1
Acquisitions	-38.7	-14.5	-510	0	0	-25.9	-41.5
Purchases of investments			-4.3	-369	-402	-491	-351
Sales and maturities of investments			0	85.6	372	441	409
Cash from investing	-66.7	-33.5	-542	-340	-76.1	-150	-70.5
Stock issued	6.69	31.2	43.1	22.4	17.6	15.7	11.8
Share buybacks					0	0	-129
Cash from financing	92.8	272	712	38.7	41.2	36.2	-179
Exchange rate effect	-0.06	0.97	-0.83	-0.18	0.86	-2.37	1.66
Net change in cash	19.1	260	207	-289	57.1	82.3	50.9
Free cash flow	-20.1	14.7	24.3	-3.17	81.7	177	282
Interest paid	0.15	0.15	0.19	0.09	0	0.03	0.04
Income taxes paid	0.31	0.03	0.42	0.7	0.9	2.7	5.53

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $49.30 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	80.0%	Gross profit / revenue.
Operating margin	-4.9%	Operating income / revenue.
EBITDA margin	3.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-2.9%	Pre-tax income / revenue.
Net margin	-2.7%	Net income / revenue.
FCF margin	24.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	25.9%	Cash from operations / revenue.
Return on equity (ROE)	-3.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.7%	Net income / average total assets.
Return on invested capital (ROIC)	-7.0%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	25.6%	Research and development expense / revenue.
Stock-based pay / revenue	17.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.5%	Capital expenditures / revenue.
D&A / revenue	8.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	14.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	22.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	27.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	11.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	22.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	26.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	53.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	187.7%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	68.9%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	59.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	80.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-2.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	4.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	6.6%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	22.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	3.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	40.0%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.17x	Current assets / current liabilities.
Quick ratio	1.01x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.74x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	43.0%	Total liabilities / total assets.
Interest coverage	-68.0x	Operating income / interest expense.
Working capital	$151.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	37.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$449.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.63x	Revenue / average total assets.
Fixed asset turnover	28.1x	Revenue / average property, plant and equipment.
Receivables turnover	5.89x	Revenue / average receivables.
Days sales outstanding	62 days	365 x average receivables / revenue.
Days payables	42 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	5.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.25	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$9.31	Revenue / diluted weighted shares.
FCF per share	$2.27	Free cash flow / diluted weighted shares.
Operating cash flow per share	$2.41	Cash from operations / diluted weighted shares.
Book value per share	$8.42	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$2.96	Tangible book value / shares outstanding.
Cash per share	$4.32	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	36.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$7.49B	Share price x shares outstanding.
Enterprise value	$6.84B	Market cap + total debt - cash - short-term investments.
P/S	5.27x	Market cap / revenue.
P/B	5.86x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	16.7x	Market cap / tangible book value, when positive.
P/FCF	21.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	20.4x	Market cap / cash from operations, when positive.
EV/Sales	4.81x	Enterprise value / revenue.
EV/EBITDA	145x	Enterprise value / EBITDA, when both are positive.
EV/FCF	19.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.6%	Free cash flow / market cap.
Earnings yield	-0.5%	Net income / market cap (the inverse of P/E).
Shareholder yield	1.7%	(Dividends paid + share buybacks) / market cap.

What was PROCORE TECHNOLOGIES, INC.'s revenue in fiscal 2025?

PROCORE TECHNOLOGIES, INC. reported revenue of $1.32B for fiscal 2025, 14.8% higher than the year before.

Was PROCORE TECHNOLOGIES, INC. profitable in fiscal 2025?

No. It reported a net loss of $100.8M.

How much free cash flow did PROCORE TECHNOLOGIES, INC. generate in fiscal 2025?

Cash from operations of $300.3M minus capital expenditures of $18.1M left free cash flow of $282.2M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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