Procore Q2 Revenue Beats, Raises FY26 Guidance on Strong Customer Adoption
PCOR sits 32% above its 52-week low of $38.03.
Summary
Procore delivered a strong Q2 with revenue of $375.2M, up 16% YoY and well above the $365.9M consensus. The company achieved GAAP operating profitability and generated robust free cash flow. Management raised full-year 2026 revenue guidance to $1.51B-$1.514B, up from the prior $1.499B-$1.503B, and set a FY27 non-GAAP operating margin target of 25%. Customer metrics were solid: gross retention hit 95% and high-value customers grew 14%. This follows the $845M DroneDeploy acquisition announced earlier today, adding AI-powered visual intelligence to the platform. The earnings beat and raised outlook reinforce the growth narrative, but the concurrent large acquisition adds integration risk to watch.
At the time of this announcement, PCOR was trading at $50.30 on NYSE in the Technology sector, with a market capitalization of approximately $7.6B. The 52-week trading range was $38.03 to $82.32. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.