Procore Technologies Inc

PCOR

Equity

ISIN US74275K1088 / Valor 53026320

New York Stock Exchange, Inc (2024-11-21)

USD 75.23+7.07%

Procore Technologies Inc
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About company

Procore Technologies Inc is a company dedicated to enhancing the construction industry through technological innovation and community building. Their global construction platform brings together all project stakeholders with comprehensive support and a business model tailored specifically for the construction sector. By improving the lives of those working in construction and fostering a global community of innovators, Procore is at the forefront of driving progress in the industry.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Procore Technologies Inc. reported a significant increase in revenue for the second quarter of 2024. The company achieved a revenue of $284.3 million, up from $228.5 million in the same quarter of 2023. This growth highlights Procore's expanding market presence and successful customer acquisition strategies.

Gross Profit

In the second quarter of 2024, Procore Technologies Inc. recorded a gross profit of $236.2 million, compared to $186.2 million in the second quarter of 2023. This improvement in gross profit reflects the company's ability to manage costs effectively while increasing its revenue base.

Operating Expenses

Procore Technologies Inc.'s total operating expenses for the second quarter of 2024 were $251.0 million, slightly up from $244.9 million in the same period of 2023. The increase in operating expenses is primarily attributed to higher investments in sales, marketing, and research and development to support future growth.

Net Loss

Despite the revenue growth, Procore Technologies Inc. reported a net loss of $6.3 million for the second quarter of 2024, a significant improvement from the net loss of $52.9 million in the second quarter of 2023. The reduction in net loss indicates better cost management and operational efficiencies.

Net Loss Per Share

Procore Technologies Inc.'s net loss per share for the second quarter of 2024 was $0.04, compared to a net loss per share of $0.37 in the same quarter of 2023. The decrease in net loss per share reflects the company's efforts to improve its financial performance and deliver value to its shareholders.

Summarized from source with an LLMView Source

Key figures

36.2%1Y

-15.2%3Y

%5Y

Performance

42.6%1Y

50.5%3Y

49.9%5Y

Volatility