Procore: Mixed Earnings, Revenue Tops
Procore Technologies exceeded revenue expectations but faced challenges with profitability in its latest earnings report.
Procore Technologies (NYSE:PCOR), a leading provider of cloud-based construction management software, released its earnings for the fourth quarter of 2024 on February 13, 2025. The company posted revenue of $302 million, exceeding both analyst estimates of $297 million and its own guidance. However, profitability lagged, with non-GAAP EPS coming in at $0.01, well below the analyst forecast of $0.12. Despite robust sales growth, challenges in cost management impacted the overall quarterly performance.
Source: Analyst estimates provided by FactSet. Management expectations based on management's guidance, as provided in 2024-10-30 earnings report.
Procore Technologies is a premier global provider of cloud-based construction management software solutions. Its platform aids various stakeholders, including owners, general contractors, and specialty contractors, by digitizing construction projects and offering real-time data access. The company generates most of its revenue through a subscription-based model, fostering steady income flow and growth opportunities.
