Procore Q3 revenue $248M (+33% YoY); returns to non-GAAP operating profitability

PROCORE TECHNOLOGIES, INC.

2023-Q3 EPS reported -$1.13 revenue$689,969,000

Revenue of $248M, up 33% YoY; GAAP gross margin 82%, non-GAAP 86%.
GAAP operating margin (20%); non-GAAP operating margin 3%, marking return to profitability.
Operating cash inflow $34M; free cash inflow $22M for Q3 2023.
CEO cites challenging demand environment but highlights platform innovations and efficiency gains.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PROCORE TECHNOLOGIES, INC. reported the third quarter ended September 30, 2023 results: revenue $248 million.

Period: the third quarter ended September 30, 2023
Revenue: $248 million
Result: reported results

Exact text from the filing

Revenue was $248 million, an increase of 33% year-over-year.

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Source: SEC EDGAR

accession 0001611052-23-000011

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