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Dec 31, 2025
Procore Q4 2025 Earnings Report
Procore announced strong fourth quarter and full year 2025 financial results, exceeding expectations with significant revenue growth and improved profitability.
Key Takeaways
Procore Technologies, Inc. reported a strong close to 2025 with fourth-quarter revenue of $349.1 million, a 16% increase year-over-year, and a GAAP net loss of $37.6 million. The company achieved its largest free cash flow quarter in its history, with an inflow of $90 million, and demonstrated consistent growth in key customer metrics.
Fourth-quarter revenue increased by 16% year-over-year to $349.1 million, reflecting strong market demand.
The company achieved its largest free cash flow quarter, with an inflow of $90 million, demonstrating improved operational efficiency.
Procore added 227 net new organic customers in Q4, bringing the total to 17,850, indicating continued customer acquisition.
The number of organic customers contributing over $100,000 in annual recurring revenue grew by 16% to 2,710, highlighting expansion within its customer base.
Forward Guidance
Procore provides optimistic guidance for the first quarter and full year 2026, anticipating continued revenue growth and improved non-GAAP operating margins, driven by strong momentum and strategic initiatives.
Positive Outlook
- First Quarter 2026 revenue expected to be between $351 million and $353 million, representing 13% to 14% year-over-year growth.
- First Quarter 2026 non-GAAP operating margin expected to be in the range of 14% to 15%.
- Full Year 2026 revenue expected to be between $1,489 million and $1,494 million, representing 13% year-over-year growth.
- Full Year 2026 non-GAAP operating margin expected to be in the range of 17.5% to 18%.
- Full Year 2026 free cash flow margin expected to be 19%.
Challenges Ahead
- Reconciliation of non-GAAP guidance to GAAP measures is not available without unreasonable effort due to future expense uncertainties.
- Factors such as economic and industry trends, competition, and the ability to integrate new products could impact financial performance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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