Procore Technologies Reports 16% Revenue Growth in Q1

By Philip Seaworth • Tuesday, May 05 11:10 • Permanent Link

Procore Technologies said first-quarter 2026 revenue rose 16% from a year earlier to $359 million, while free cash inflow increased 20% to $56 million.

Operating cash inflow reached $77 million in the quarter. Gross margin came in at 80% on a GAAP basis and 84% on a non-GAAP basis, while operating margin was negative 4% GAAP and 17% non-GAAP.

The company’s gross revenue retention rate was 95% in the quarter. Customers generating more than $100,000 in annual recurring revenue climbed 16% year over year to 2,795 as of March 31.

Procore said it repurchased about 1.8 million shares for roughly $100 million during the quarter.

For the second quarter, the company expects revenue of $364 million to $366 million, implying growth of 12% to 13% from a year earlier, and non-GAAP operating margin of 17.5% to 18.5%.

For full-year 2026, Procore projected revenue of $1.499 billion to $1.503 billion, or growth of up to 13.6%, with non-GAAP operating margin of 18% to 18.5% and free cash flow margin of 19%. Today the company's shares have moved -12.13% to a price of $54.565. For the full picture, make sure to review PROCORE TECHNOLOGIES, INC.'s 8-K report.

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