NYSE$PCOR
Procore Technologies Inc. · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Procore's Q1 2022 financial results reflected strong project backlogs and impressive execution.
Procore Technologies reported strong Q1 2022 results with revenue of $160 million, a 40% increase year-over-year, and added 616 net new organic customers.
- Revenue was $160 million, up 40% year-over-year.
- GAAP gross margin was 79% and non-GAAP gross margin was 84%.
- Added 616 net new organic customers in the first quarter, ending with a total of 12,809 organic customers.
- Formally launched in France, continuing Procore’s regional growth across EMEA.
Headline financials
Revenue & EPS history
Procore · Revenue · Quarterly
$160M
Forward guidance
Procore provided revenue and non-GAAP operating margin guidance for Q2 2022 and full year 2022.
Tailwinds
- Second Quarter 2022 Revenue is expected to be in the range of $161 million to $163 million, representing year-over-year growth of 31% to 33%.
- Full Year 2022 Revenue is expected to be in the range of $676 million to $680 million, representing year-over-year growth of 31% to 32%.
- Full Year 2022 Revenue includes $28 million from Levelset
- Second Quarter 2022 Non-GAAP operating margin is expected to be in the range of (14%) to (15%).
- Full Year 2022 Non-GAAP operating margin is expected to be in the range of (13.5%) to (14.5%).
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
+0.4%
Avg return
Earnings day
-1.2%
Avg return
5 days after
-0.5%
Avg return
30 days after
60%
12 / 20 earnings
Positive
+16.5%
Q4 2024
Best reaction
-20.1%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +4.9% | -8.4% | -11.2% | |
| Q4 2025 | +9.3% | +10.8% | +19.4% | |
| Q3 2025 | +10.6% | +10.2% | +8.4% | |
| Q1 2025 | +2.5% | +2.0% | +6.3% | |
| Q4 2024 | +16.5% | +15.2% | -9.3% | |
| Q3 2024 | +3.5% | +5.0% | +28.0% | |
| Q2 2024 | -20.1% | -25.5% | -16.6% | |
| Q1 2024 | +1.2% | +0.1% | -1.9% | |
| Q4 2023 | +3.3% | +3.7% | +6.9% | |
| Q3 2023 | -17.4% | -16.9% | -1.2% | |
| Q2 2023 | -11.2% | -14.5% | -10.1% | |
| Q1 2023 | +4.8% | +2.3% | +16.7% | |
| Q4 2022 | +1.3% | +0.5% | -5.7% | |
| Q3 2022 | -1.7% | -3.9% | -5.7% | |
| Q2 2022 | +14.8% | +18.3% | -0.3% | |
| Q1 2022 | -5.9% | -15.1% | -14.9% | |
| Q4 2021 | -6.8% | +2.1% | -6.0% | |
| Q3 2021 | -1.5% | -1.7% | -17.5% | |
| Q4 2020 | +0.2% | -1.1% | +4.0% | |
| Q2 2021 | -1.2% | -6.5% | +1.0% | |
| Q1 2021 | — | — | — | |
| Q3 2020 | — | — | — | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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