Overview
Construction software provider's Q4 revenue rose 16% yr/yr, beating analyst expectations
Adjusted EPS for Q4 beat analyst expectations
Company announced acquisition of Datagrid to boost AI strategy
Outlook
Procore expects Q1 2026 revenue between $351 mln and $353 mln
Company projects full-year 2026 revenue of $1,489 mln to $1,494 mln
Procore anticipates 2026 non-GAAP operating margin of 17.5% to 18%
Result Drivers
CUSTOMER ADOPTION - Increase in organic customers contributing over $100,000 and $1,000,000 in annual recurring revenue boosted Q4 results
AI STRATEGY - Acquisition of Datagrid to accelerate AI strategy and enhance data integration for customers
CASH FLOW - Record free cash flow driven by strong operating cash inflow and strategic management
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | $349.11 mln | $340.77 mln (20 Analysts) |
Q4 Adjusted EPS | Beat | $0.37 | $0.35 (19 Analysts) |
Q4 EPS | -$0.25 | ||
Q4 Net Income | -$37.60 mln | ||
Q4 Gross Margin | 80.00% | ||
Q4 Adjusted Gross Margin | 84.00% | ||
Q4 Gross Profit | $279.70 mln | ||
Q4 Operating Expenses | $322.50 mln | ||
Q4 Operating Income | -$42.80 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Procore Technologies Inc is $85.00, about 74.8% above its February 11 closing price of $48.64
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 46 three months ago
Press Release: ID:nBw9gqpZsa
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)