secwatch.observer — SEC 8-K summary
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Issuer:     PROCORE TECHNOLOGIES, INC. (PCOR)
CIK:        0001611052
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001611052-23-000004
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Procore Q2 revenue $229M (+33% YoY); GAAP op margin -26%, non-GAAP -1%
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- Revenue $229M, up 33% YoY; GAAP gross margin 81%, non-GAAP 85%.
- GAAP operating margin (26%); non-GAAP operating margin (1%), near breakeven.
- Operating cash outflow $12M; free cash outflow $24M.
- CFO says on track to positive sustainable free cash flow in 2023.
- CEO cites challenging demand environment but solid results.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1611052/000161105223000004/0001611052-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1611052/000161105223000004/pcor-20230802.htm
  HTML page:      https://secwatch.observer/filing/0001611052-23-000004

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer