PROCORE TECHNOLOGIES INC
For the period ended Jun 30, 2024. Filed Aug 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 2, 2024
PCOR$76.26-0.3%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Operations and Comprehensive Loss
Condensed Consolidated Statements of Operations and Comprehensive Loss(unaudited)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (in thousands, except share and per share amounts) | 2024 | 2023 | 2024 | 2023 |
| Revenue | $284,347 | $228,536 | $553,775 | $442,062 |
| Cost of revenue | 48,101 | 42,304 | 93,824 | 82,506 |
| Gross profit | 236,246 | 186,232 | 459,951 | 359,556 |
| Operating expenses | ||||
| Sales and marketing | 127,922 | 125,362 | 248,916 | 242,725 |
| Research and development | 72,308 | 73,216 | 142,907 | 153,252 |
| General and administrative | 50,792 | 46,383 | 101,810 | 91,571 |
| Total operating expenses | 251,022 | 244,961 | 493,633 | 487,548 |
| Loss from operations | (14,776) | (58,729) | (33,682) | (127,992) |
| Interest income | 5,814 | 4,943 | 11,752 | 9,891 |
| Interest expense | (472) | (491) | (951) | (987) |
| Accretion income, net | 3,761 | 2,031 | 6,849 | 3,663 |
| Other expense, net | (148) | (313) | (492) | (523) |
| Loss before provision for income taxes | (5,821) | (52,559) | (16,524) | (115,948) |
| Provision for income taxes | 490 | 322 | 753 | 380 |
| Net loss | $(6,311) | $(52,881) | $(17,277) | $(116,328) |
| Net loss per share attributable to common stockholders, basic and diluted | $(0.04) | $(0.37) | $(0.12) | $(0.83) |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 146,938,942 | 141,238,489 | 146,207,469 | 140,446,873 |
| Other comprehensive (loss) income | ||||
| Foreign currency translation adjustment, net of tax | $(87) | $395 | $(573) | $379 |
| Unrealized loss on available-for-sale debt and marketable securities, net of tax | (172) | (388) | (379) | (64) |
| Total other comprehensive (loss) income | (259) | 7 | (952) | 315 |
| Comprehensive loss | $(6,570) | $(52,874) | $(18,229) | $(116,013) |
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