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EX-99.1

2 pcor-q126x8xkxexx991.htm

EX-99.1

Document

Exhibit 99.1

Procore Announces First Quarter 2026 Financial Results

CARPINTERIA, CA – May 5, 2026 – Procore Technologies, Inc. (NYSE: PCOR), the leading global provider of construction management software, today announced financial results for the first quarter ended March 31, 2026.

“We delivered strong Q1 financials,” said Ajei Gopal, President and CEO of Procore. “That performance, which exceeded the high end of our guidance, gives us even more confidence in the future, enabling us to increase our full-year outlook. I am particularly pleased that we have also strengthened our flagship platform, as well as our agentic AI capabilities.”

“I am thrilled to join Procore at such a transformative moment,” said Rachel Pyles, CFO of Procore. “We are well positioned to deliver durable and profitable growth to ultimately compound our north star metric: free cash flow per share.”

First Quarter 2026 Financial Highlights:

•Revenue was $359 million, an increase of 16% year-over-year.

•GAAP gross margin was 80% and non-GAAP gross margin was 84%.

•GAAP operating margin was (4%) and non-GAAP operating margin was 17%.

•Operating cash inflow for the first quarter was $77 million.

•Free cash inflow for the first quarter was $56 million, an increase of 20% year-over-year.

•Basic and diluted WASO used for GAAP net loss per share was 150,950,902, an increase of 1% year-over-year. Diluted WASO used for non-GAAP earnings per share was 152,841,588, a decrease of 1% year-over-year.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Recent Business Highlights:

•Achieved a gross revenue retention rate of 95% in the first quarter.

•Number of organic customers contributing more than $100,000 of annual recurring revenue totaled 2,795 as of March 31, 2026, an increase of 16% year-over-year.

•Announced Procore Platform integration with the NVIDIA Omniverse DSX Blueprint to accelerate the building of AI factories.

•Recognized by G2 as a Top 100 Global Software Company for 2026.

•Appointed distinguished AI and academic leader Vishal Misra to Procore’s Board of Directors.

•Repurchased approximately 1.8 million shares of common stock for approximately $100 million in the first quarter as part of our authorized stock repurchase program.

Second Quarter and Full Year Outlook:

Procore is providing the following guidance for the second quarter 2026 and the full year 2026:

•Second Quarter 2026 Outlook:

◦Revenue is expected to be in the range of $364 million to $366 million, representing year-over-year growth of 12% to 13%.

◦Non-GAAP operating margin is expected to be in the range of 17.5% to 18.5%.

•Full Year 2026 Outlook:

◦Revenue is expected to be in the range of $1,499 million to $1,503 million, representing year-over-year growth of 13.6% at the high end.

◦Non-GAAP operating margin is expected to be in the range of 18% to 18.5%.

◦Free cash flow margin is expected to be 19%.

A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future and cannot be reasonably determined or predicted at this time, although it is important to note that these factors could be material to Procore’s future GAAP financial results.

Quarterly Conference Call

Procore Technologies, Inc. will hold a conference call to discuss its first quarter results at 7:30 a.m., Central Time, on Tuesday, May 5, 2026. A live audio webcast will be accessible on Procore's investor relations website at http://investors.procore.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about Procore and its industry, including our outlook for second quarter 2026 and the full fiscal year 2026 and our expectations regarding artificial intelligence, that involve substantial risks and uncertainties. All statements in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events, future financial or operating performance, or new, planned, or upgraded products, services, or features, and may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words, or other similar terms or expressions that concern Procore’s expectations, strategy, plans, or intentions.

Pro

pcor-20260212false000161105200016110522026-02-122026-02-12

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 12, 2026

Procore Technologies, Inc. (Exact name of Registrant as Specified in Its Charter)

Delaware001-4039673-1636261 (State or Other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification No.)

6309 Carpinteria Avenue Carpinteria, CA 93013 (Address of Principal Executive Offices)(Zip Code)

Registrant’s Telephone Number, Including Area Code: (866) 477-6267 Not Applicable (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered Common stock, $0.0001 par valuePCORThe New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company o If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition. On February 12, 2026, Procore Technologies, Inc. (the “Company”) issued a press release announcing its results for the fiscal quarter and year ended December 31, 2025. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K. The information in each item of this Current Report on Form 8-K and the exhibit attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The exhibit listed below is being furnished with this Current Report on Form 8-K.

Exhibit NumberDescription

99.1Press Release dated February 12, 2026

104Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Procore Technologies, Inc.

Date: February 12, 2026 By:/s/ Benjamin C. Singer Benjamin C. Singer Chief Legal Officer and Corporate Secretary