Procore Technologies Inc
F:5PT
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Procore Technologies Inc
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Procore Technologies Inc
Procore Technologies makes cloud software for construction companies. Its main product helps general contractors, subcontractors, owners, and builders manage projects, drawings, schedules, budgets, contracts, and field communication in one system instead of scattered spreadsheets and email. It is designed for commercial construction, where many people need to stay coordinated on the same job. Procore sells software subscriptions, usually on a contract basis, and also offers related services such as onboarding, support, and training. Customers pay to use the platform and keep their project data in Procore’s system, which makes the software sticky once it is embedded in day-to-day work. Its users are mostly construction firms and project owners that need better control over complex jobs and paperwork. What makes Procore different is that it sits in the middle of a construction project, connecting office teams, field crews, and outside partners on one shared platform. Instead of being a tool for one narrow task, it tries to be the central record for construction work from preconstruction through closeout. That gives Procore a role similar to a digital operating system for job sites, which is unusual in a traditionally fragmented industry.
Procore Technologies makes cloud software for construction companies. Its main product helps general contractors, subcontractors, owners, and builders manage projects, drawings, schedules, budgets, contracts, and field communication in one system instead of scattered spreadsheets and email. It is designed for commercial construction, where many people need to stay coordinated on the same job.
Procore sells software subscriptions, usually on a contract basis, and also offers related services such as onboarding, support, and training. Customers pay to use the platform and keep their project data in Procore’s system, which makes the software sticky once it is embedded in day-to-day work. Its users are mostly construction firms and project owners that need better control over complex jobs and paperwork.
What makes Procore different is that it sits in the middle of a construction project, connecting office teams, field crews, and outside partners on one shared platform. Instead of being a tool for one narrow task, it tries to be the central record for construction work from preconstruction through closeout. That gives Procore a role similar to a digital operating system for job sites, which is unusual in a traditionally fragmented industry.
Beat and raise: Procore said Q2 revenue came in above the high end of guidance by about 2.5%, then raised full-year 2026 revenue, margin, and free cash flow guidance.
Margins improve: The company delivered its first quarter of GAAP operating profit and posted 21.5% non-GAAP operating margin, up 800 basis points year over year.
AI push: Management framed Procore AI as a core strategy and highlighted 20 AI agents, early customer adoption, and new starter packs to make rollout easier.
DroneDeploy deal: Procore announced an agreement to acquire DroneDeploy for $845 million in cash, saying it strengthens its AI roadmap and should not change FY '26 or FY '27 margin guidance.
Demand mix: Large deals, data center work, and international momentum were key bright spots, while management said the broader end market remains uneven.
Outlook lifted: Full-year 2026 revenue guidance rose to $1.51 billion to $1.514 billion, operating margin guidance rose to 18.5% to 19%, and free cash flow margin guidance rose to 19.5%.
