Procore Technologies generates an 18% free cash flow margin despite GAAP losses, has beaten earnings 3 of the last 4 quarters with a 15% average surprise, and analysts project 47% upside — but a death cross with momentum score of 1.6 and a put/call ratio of 4.46 signal elevated near-term downside risk.
Thesis pillars
- Fcf Positive Despite Gaap Loss→Stable
- Low Peg Construction Software Growth→Stable
- Strong Analyst Upside With Beats↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 24, 2026
Procore Technologies, Inc. (PCOR) Stock Analysis
Technology · Software - Application
Sell if holding. Analyst target reached at $62.05 — A.R:R 0.0:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Geographic: U.S. customers.
Procore Technologies provides construction management software globally to owners, general contractors, and specialty contractors, generating $1.3 billion in revenue in 2025. Subscriptions represent substantially all revenue, priced on the annual dollar volume of construction... Read more
Sell if holding. Analyst target reached at $62.05 — A.R:R 0.0:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Geographic: U.S. customers. Chart setup: No clear chart pattern; technical signals are mixed. Score 5.5/10, moderate confidence.
Passes 5/8 gates (positive momentum, clean insider activity, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and earnings proximity 5d<=7d. Suitability: moderate.
About Procore Technologies, Inc.
About Procore Technologies, Inc.
Procore Technologies posted $1.3 billion in revenue in 2025, a 15% increase from $1.2 billion in 2024 and $1.0 billion in 2023, while reporting a net loss of $100.8 million. Customers ran projects in approximately 160 countries as of December 31, 2025, though 15% of 2025 revenue was generated from customers outside the U.S., leaving the platform heavily concentrated in the domestic construction market. The platform served 17,850 customers at year-end, of whom 2,710 contributed more than $100,000 in annual recurring revenue — representing 66% of total ARR — up 16% year-over-year.
Procore earns substantially all revenue from subscriptions priced on a fixed fee based on the mix of products selected and the annual dollar volume of construction work contracted to run on the platform. The company does not charge per-seat fees, allowing unlimited users per subscription, which creates an incentive for project collaborators to become paying customers in order to manage their own portfolios and retain ownership of project data. Four product solutions — Preconstruction, Project Execution, Resource Management, and Financial Management — were supplemented in February 2026 by bundled packages at Essentials, Base, and Enterprise tiers. Customers contributing more than $1,000,000 in ARR grew 34% to 115 as of December 31, 2025. The company had an accumulated deficit of $1.3 billion and continues to invest in sales, marketing, and product development to sustain growth.
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Procore's AI tools are subject to the EU's AI Act, which the company acknowledges it is subject to; the Act sets a risk-based compliance framework with potential fines of up to 35 million euros or 7% of total worldwide annual revenue for violations. Separately, the construction-volume pricing model creates a structural revenue risk: if customers reduce the annual construction volume contracted to run on the platform at renewal — as may occur during industry downturns — revenue may decline without any change in customer count, and the filing notes that macroeconomic uncertainty in the construction industry presents challenges to near-term growth.
See also: Technology · Software - Application
From Procore Technologies, Inc.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-10-29Recent Developments — Procore Technologies, Inc.
Latest news
- NEWS Procore Technologies (PCOR) Tops Q2 Earnings and Revenue Estimates - Yahoo Finance — Yahoo Finance positive
- NEWS Procore Technologies (NYSE:PCOR) Beats Q2 CY2026 Sales Expectations - StockStory — StockStory positive
- NEWS Procore Technologies (PCOR) Releases Q2 2026 Earnings: Revenue Growth and Strong Cash Flow - Quiver Quantitative — Quiver Quantitative positive
- NEWS Procore Technologies (PCOR) Releases Q2 2026 Earnings: Revenue Growth and Strong Cash Flow - quiverquant.com — quiverquant.com positive
- NEWS Procore Technologies (PCOR) to Announce Quarterly Earnings on Wednesday - MarketBeat — MarketBeat neutral
Generated 2026-10-29T11:08:51Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicU.S. customers10-K Item 1A: '15% of our revenue in 2025 was generated from customers outside the U.S.'
Material Events(8-K, last 90d)
- 2026-04-22Item 5.02LOWBoard expanded from 10 to 11 directors; Dr. Vishal Misra appointed as Class III director and Audit Committee member effective April 20, 2026. Qualifies as independent under NYSE listing standards. No family relationships or material interests disclosed.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $62.05 — A.R:R 0.0:1 is below the 1.5:1 minimum. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Concentration risk — Geographic: U.S. customers. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $57.73. Score 5.5/10, moderate confidence.
Analyst target: $62.14 (+0.1% upside). Prior stop was $57.73. Stop-loss: $57.73.
Concentration risk — Geographic: U.S. customers; Analyst target reached - limited upside remaining; V7 low-quality RISK_OFF penalty: -0.5 (Q=4.3).
Procore Technologies, Inc. trades at a P/E of N/A (forward 24.9). TrendMatrix value score: 6.3/10. Verdict: Sell.
32 analysts cover PCOR with a consensus score of 4.0/5. Average price target: $69.
What does Procore Technologies, Inc. do?Procore Technologies provides construction management software globally to owners, general contractors, and specialty...
Procore Technologies provides construction management software globally to owners, general contractors, and specialty contractors, generating $1.3 billion in revenue in 2025. Subscriptions represent substantially all revenue, priced on the annual dollar volume of construction work run on the platform, with 17,850 customers as of December 31, 2025. The unlimited-user model allows all project participants access, converting collaborators into paying customers over time.