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PCOR News
PCOR Events
Procore Technologies Plans to Offer $750M Convertible Senior Notes
Procore Technologies announced that it intends to offer, subject to market conditions and other factors, $750M aggregate principal amount of Convertible Senior Notes due 2031 in a private placement only to persons reasonably believed to be "qualified institutional buyers" pursuant to Rule 144A under the Securities Act of 1933, as amended.
Procore Sees FY27 Operating Margin at 25%
Procore sees FY27 operating margin at 25% vs. 18.5%-19.0% expected for FY26
Procore Reports Q2 Revenue of $375.2M
Reports Q2 revenue $375.2M, consensus $365.7M. "Our outstanding Q2 results demonstrate the continued value our platform provides to the construction industry," said Ajei Gopal, President and CEO of Procore. "Customers are embracing our solutions, giving us more confidence in our direction, our ability to execute, and our future success. Procore offers users a system of collaboration that creates a powerful network effect across the industry, helping our customers achieve their business needs."
FY26 Non-GAAP Operating Margin Expected to be 18.5% to 19.0%
FY26 non-GAAP operating margin is expected to be in the range of 18.5% to 19.0%. Free cash flow margin is expected to be 19.5%.
Procore Technologies to Acquire DroneDeploy for Approximately $845 Million
The company states: "Procore Technologies announced it has entered into a definitive agreement to acquire DroneDeploy, Inc., the robotics and visual intelligence platform for the built world that is used on over 3 million jobsites across more than 180 countries. Procore will acquire DroneDeploy for approximately $845 million in cash, subject to customary purchase price adjustments."
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