Procore Q2 Revenue Hits $375M, GAAP Profitable, Raises Guidance, and Announces $845M DroneDeploy Acquisition
PCOR sits 45% above its 52-week low of $38.03.
Summary
Procore's Q2 2026 10-Q reports revenue of $375.2M (16% YoY), GAAP net income of $16.9M, and raised full-year guidance. The filing also discloses an $845M acquisition of DroneDeploy and a $700M bridge loan commitment, alongside an update on the Oracle trade secret lawsuit.
Key Events · Earnings and Guidance · PCOR
-
Q2 Revenue and Profit Beat
Revenue of $375.2M grew 16% YoY, and GAAP net income reached $16.9M ($0.11 diluted EPS), swinging from a $21.1M loss a year ago.
-
Full-Year Guidance Raised
Management raised full-year 2026 revenue guidance to $1,499M–$1,503M, up from prior outlook, reflecting strong demand and execution.
-
$845M DroneDeploy Acquisition
Subsequent to quarter-end, Procore agreed to acquire DroneDeploy for $845M in cash, adding reality capture and robotics capabilities. A $700M bridge loan commitment was secured to fund the deal.
-
Oracle Trade Secret Litigation Update
The lawsuit alleging misappropriation of trade secrets for Procore Pay is in pre-trial phase; discovery has closed. The outcome remains uncertain and could result in injunctive relief or monetary damages.
Analysis · PCOR · Technology
A milestone quarter saw Procore deliver 16% revenue growth and achieve GAAP profitability—a first for a company long in the red. The raised full-year guidance underscores management's confidence in sustained demand. In a transformative move, the subsequent announcement of the $845 million DroneDeploy acquisition, backed by a $700 million bridge loan, positions the firm to capture reality capture and robotics opportunities. Yet the Oracle trade secret lawsuit, now in pre-trial, remains a material legal overhang. Improving fundamentals, a major M&A bet, and ongoing litigation risk make this a critical update for investors.
How filings like this one have moved
In the 30 days to Sep 23, 2026, 35.1% of the 1081 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.41%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PCOR was trading at $55.14 on NYSE in the Technology sector, with a market capitalization of approximately $8.3B. The 52-week trading range was $38.03 to $82.32. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.