Procore Reports Strong Q4 & Full Year 2025 Results with Record Free Cash Flow; Issues Positive 2026 Outlook
Summary
Procore Technologies reported strong Q4 and full year 2025 financial results, including record free cash flow, and provided an optimistic outlook for 2026 with continued growth and margin expansion.
Key Events
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Strong Q4 & Full Year 2025 Financial Performance
Reported Q4 2025 revenue of $349 million (16% YOY increase) and full year 2025 revenue of $1,323 million (15% YOY increase). Non-GAAP operating margin reached 15% in Q4 and 14% for the full year.
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Record Free Cash Flow Generation
Achieved the largest free cash flow quarter in company history with $90 million in Q4 2025. Full year 2025 free cash flow was $215 million, a substantial 69% increase year-over-year.
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Positive 2026 Financial Outlook
Provided Q1 2026 revenue guidance of $351-$353 million (13-14% YOY growth) and full year 2026 revenue guidance of $1,489-$1,494 million (13% YOY growth), with expected non-GAAP operating margin of 17.5-18% and free cash flow margin of 19%.
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Strategic AI Expansion
Announced the acquisition of Datagrid to accelerate its AI strategy, aiming to drive efficiency gains across the construction lifecycle.
Analysis
Procore Technologies announced robust financial results for the fourth quarter and full year 2025, highlighted by significant revenue growth and record free cash flow. The company achieved its largest free cash flow quarter in history, demonstrating strong operational efficiency and financial health. The positive momentum is expected to continue into 2026, with guidance indicating sustained revenue growth and expanding non-GAAP operating and free cash flow margins. This performance, coupled with strategic moves like the Datagrid acquisition to accelerate AI initiatives, suggests a solid trajectory for the company.
At the time of this filing, PCOR was trading at $52.00 on NYSE in the Technology sector, with a market capitalization of approximately $7.4B. The 52-week trading range was $46.08 to $88.92. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.