Procore Technologies, Inc. (PCOR) Earnings
Procore Technologies, Inc. is expected to report next earnings on July 30, 2026 (in NaN days), with a consensus EPS estimate of $0.41. PCOR has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +19.0% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $0.36 | $0.34 | -5.6% | $359M | +1.8% |
| Feb 12, 2026 | $0.35 | $0.37 | +5.7% | $349M | +0.0% |
| Nov 5, 2025 | $0.32 | $0.42 | +30.1% | $339M | +3.2% |
| Jul 31, 2025 | $0.24 | $0.35 | +45.8% | $324M | -1.3% |
| May 1, 2025 | $0.17 | $0.23 | +35.3% | $311M | +2.6% |
| Feb 13, 2025 | $0.11 | $0.01 | -90.9% | $302M | +1.6% |
| Oct 30, 2024 | $0.21 | $0.24 | +14.3% | $296M | -0.5% |
| Aug 1, 2024 | $0.24 | $0.39 | +62.5% | $284M | -1.1% |
| May 1, 2024 | $0.16 | $0.30 | +87.5% | $269M | -2.1% |
| Feb 15, 2024 | $0.07 | $0.17 | +142.9% | $260M | +4.7% |
| Nov 1, 2023 | $-0.06 | $0.09 | +250.0% | $248M | +6.1% |
| Aug 2, 2023 | $-0.10 | $0.02 | +120.0% | $229M | +4.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Ajay highlighted Q1 strong performance exceeding guidance, 15.7% revenue growth and 17% non-GAAP operating margin. • Discussed Procore AI progress, including acquisition of DataGrid, new capabilities like agent event triggers and voice AI interface, and go-to-market strategy with a specialist team transitioning to broader sales force. • Talked about flagship solutions: improvements in U.S. general contractors' platform, new functionality for specialty contractors like materials management, and international market launches like BIM Model Federation. • Strategic partnerships with NVIDIA to accelerate building of AI factories. • Mentioned use of AI to grow efficiently, improve speed, and margins, with Rachel joining as CFO and outlining capital allocation philosophy.
Guidance
• Q2 2026 revenue expected between $364 million and $366 million, year-over-year growth of 13% at high end. Q2 non-GAAP operating margin expected between 17.5% and 18.5%. • Full year 2026 revenue guide raised to $1.499 billion to $1.503 billion, total year-over-year growth of 13.6% at high end. Non-GAAP operating margin guidance raised by 50 basis points to 18% to 18.5%, implying year-over-year margin expansion of 390 to 440 basis points. Free cash flow margin guidance maintained at 19%, implying year-over-year free cash flow margin expansion of approximately 280 basis points.
Segment performance
Total revenue in Q1 was $359 million, up 15.7% year-over-year. Non-GAAP operating income was $61 million, with a non-GAAP operating margin of 17%, up 650 basis points year-over-year. Free cash flow was $56 million, up 20% year-over-year. Current RPO grew 21% year-over-year, and current deferred revenue grew 17% year-over-year. Revenue contribution details for product segments not explicitly broken down beyond overall revenue and margin info.
Analyst Q&A
Q: Joe Brewink asked about revenue upside, CRPO, and Q2 outlook.
A: Rachel said pleased with results, revenue upside consistent with Q4 beat, Q2 high end consistent with street estimate.
Q: Joe Brewink asked about Procore scheduling and cross-sell opportunities.
A: Ajay said excited about Procore scheduling, natively connected to platform, and AI capabilities adding to cross-sell.
Q: Sackett Kaila asked about construction cycle and customer views on project starts.
A: Ajay said construction environment stable, data centers exciting.
Q: Zach asked about CRPO converging with revenue growth.
A: Rachel said average contract duration normalizing, takes 3-4 quarters after stabilization for convergence.
Q: Dylan Becker asked about AI catalyzing adoption and platform consolidation.
A: Ajay said customers trust Procore as tech partner, agentic AI capabilities provide value.
Q: Ben Thale asked about sales changes.
A: Ajay said strong foundation, Walt's leadership to move fast.
Q: DJ Hines asked about network effects of AI and DataGrid impact.
A: Ajay said benefits accrue to all collaborators, DataGrid immaterial to results.
Q: Adam Moore asked about government vertical and bundled packages.
A: Ajay said FedRAMP authorization is longer-term play, bundled packages received positive feedback.
Q: Matthew Martino asked about macro and specialty contractors.
A: Ajay said FedRAMP takes time, specialty contractors benefit from product releases.
Q: Daniel Jester asked about margin seasonality and specialty contractor growth.
A: Rachel said confident in margin profile, Ajay said specialty contractors benefit from product value.
Q: Jason Salino asked about operating leverage and oil prices.
A: Ajay said R&D using AI, operating leverage from all parts of organization; customers not citing oil prices as long-term concern.
Q: Ken Wong asked about guidance shape.
A: Rachel said guidance is mechanical, consistent with beat and raise philosophy.
Q: Ken Wong asked about go-to-market changes with Walt.
A: Ajay said Walt evaluating organization, excited about his capabilities