Procore Tops Q2 Revenue, Reaches GAAP Profitability, and Lifts Full-Year Forecast
PCOR sits 32% above its 52-week low of $38.03.
Summary
Procore beat Q2 estimates with $375M in revenue (16% growth), achieved GAAP profitability, and raised full-year guidance. Free cash flow jumped 507% to $65M, and the company set a 25% non-GAAP operating margin target for 2027.
Key Events · Earnings and Guidance · PCOR
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Q2 Revenue Beat
Revenue of $375M grew 16% YoY, exceeding the $365.9M consensus estimate.
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GAAP Profitability Achieved
GAAP operating margin turned positive at 1%, with non-GAAP operating margin reaching 21%.
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Free Cash Flow Surge
Free cash flow of $65M increased 507% YoY, driven by $88M in operating cash flow.
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Raised Full-Year Guidance
2026 revenue guidance raised to $1.51B-$1.514B (14.5% growth at high end), with non-GAAP operating margin expected at 18.5%-19%.
Analysis · PCOR · Technology
A standout Q2 saw Procore deliver revenue of $375M, up 16% YoY and comfortably ahead of the $365.9M consensus. For the first time, the company achieved GAAP operating profitability—posting a 1% margin—while non-GAAP operating margin hit 21%. Free cash flow surged 507% to $65M. Management raised full-year 2026 revenue guidance to $1.51B–$1.514B, implying 14.5% growth at the high end, and set an ambitious 25% non-GAAP operating margin target for 2027. Together, the results and outlook signal accelerating operational leverage and durable growth, reinforcing the investment thesis despite a recent large acquisition announcement.
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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.
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At the time of this filing, 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 filing was assessed with positive market sentiment and an importance score of 8 out of 10.