earnings
confidence high
sentiment positive
materiality 0.65
Procore Q4 revenue $146M (+33% YoY); full year $515M (+29%)
PROCORE TECHNOLOGIES, INC.
2023-FY EPS reported
-$2.86
revenue$514,821,000
- Q4 GAAP gross margin 80%, non-GAAP 83%; GAAP operating margin (51%), non-GAAP (13%).
- Full year GAAP gross margin 81%, non-GAAP 84%; operating cash flow $37M, up 68% YoY.
- RPO reached $603M (+38% YoY) with short-term RPO ~70% of total, +35% YoY.
- Levelset contributed $4M to Q4 revenue; non-GAAP op margin included 130 bps headwind.
- Free cash outflow ($13M) in Q4; full year free cash flow positive at $9M.