earnings
confidence high
sentiment positive
materiality 0.70
Procore Q2 revenue $375M (+16% YoY); achieves GAAP operating profitability
PROCORE TECHNOLOGIES, INC.
- Revenue $375M, up 16% YoY; GAAP gross margin 80%, non-GAAP 84%.
- GAAP operating margin 1% (first GAAP profitable quarter); non-GAAP operating margin 21%.
- Operating cash flow $88M (+185% YoY); free cash flow $65M (+507% YoY).
- Basic shares outstanding 151.4M; diluted 152.8M.