PCOR earnings analysis
What we found in PCOR's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Procore Technologies, Inc. reported Q1 2026 results with a revenue of $359 million, a 16% increase from the previous year and significantly above expectations. EPS improved to a loss of $0.06, bettering estimates with notable growth in cash flow and substantial customer retention efforts.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Strong Revenue Growth
- Revenue for Q1 2026 was $359 million, up 16% year-over-year from $310.6 million.
- Better-than-Expected EPS
- EPS loss narrowed to $0.06 from $0.22 in Q1 2025, beating estimates of a $0.28 loss.
- Increased Free Cash Flow
- Free cash flow rose to $76.8 million, up from $66 million in Q1 2025.
- Higher Gross Margin
- Gross margin improved to 80% from 79% year-over-year, indicating better efficiency.
- Gained New Customers
- Total customers contributing over $100K ARR grew from 2,418 to 2,795, a 16% increase.
- Continued Strong Cash Position
- Cash, cash equivalents, and marketable securities reached $591.5 million as of March 31, 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Accumulated Deficit
- The company reported an accumulated deficit of $1.4 billion, indicating ongoing financial pressures.
- Legal Proceedings
- Ongoing legal challenges, including litigation with Oracle, could impact financial resources.
- Dependence on Customer Retention
- Continued reliance on retaining high-value customers to maintain revenue growth amidst competitive pressures.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.06
- Gross margin
- 80%
- Operating margin
- -4%
What they said about what is next.
Revenue guidance for full-year 2026 increased to $1.499 billion to $1.503 billion, reflecting confidence in sustained growth.
The filing reads better than the one before it.
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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