NYSE$PCOR
Procore Technologies Inc. · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Procore's revenue increased and customer base grew, driven by strategic acquisitions and platform innovations.
Procore Technologies, Inc. announced its Q3 2021 financial results, reporting a 30% year-over-year revenue increase to $132 million. The company added 456 net new customers, bringing the total to 11,605. Procore also highlighted its recent acquisitions of Levelset and LaborChart, aimed at addressing payment and labor optimization challenges in the construction industry.
- Revenue reached $132 million, a 30% increase year-over-year.
- Added 456 net new customers, totaling 11,605 customers.
- GAAP gross margin was 83%, and non-GAAP gross margin was 84%.
- Operating cash flow was $15.1 million, and free cash flow was $6.5 million.
Headline financials
Revenue & EPS history
Procore · Revenue · Quarterly
$132M
Forward guidance
Procore anticipates revenue between $136 million and $138 million for Q4 2021. The non-GAAP operating margin is expected to be in the range of (14%) to (15%).
Tailwinds
- Revenue is expected to be in the range of $136 million to $138 million.
- Includes $1 million from Levelset.
- Full Year 2021 Outlook: Revenue is expected to be in the range of $505 million to $507 million.
- Full Year 2021 Outlook: Including $1 million from Levelset.
- LaborChart not expected to provide material revenue contribution
Headwinds
- Non-GAAP operating margin is expected to be in the range of (14%) to (15%).
- Including 400 basis points of headwind from acquisitions of Levelset and LaborChart
- Full Year 2021 Outlook: Non-GAAP operating margin is expected to be in the range of (6%) to (7%).
- Full Year 2021 Outlook: Including 100 basis points of headwind from acquisitions of Levelset and LaborChart
- LaborChart not expected to provide material revenue contribution
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 Q3 2021
+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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