Filing Flows › Procore Technologies (PCOR) › Q2 2025
Procore Technologies (PCOR) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
Procore Technologies (PCOR) reported revenue of $324M for the second quarter 2025 (Q2 2025), +14% from a year earlier and +4% from the quarter before. Operating margin was -9.3%, net loss $21.1M (6.5% of revenue).
Procore Technologies, Q2 2025: revenue $324M (+14% year over year), operating margin -9.3%, net loss $21.1M, operating cash flow $30.8M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $324M | +4% | +14% |
| Operating profit | −$30.3M | — | — |
| Net earnings | −$21.1M | — | — |
| Operating cash flow | $30.8M | -53% | -47% |
| Free cash flow | $10.6M | — | -77% |
What changed
Revenue was $323.9M in Q2 2025, up 14% year over year and up 4% from the previous quarter.
Gross margin was 79.1%, down 4.0 points from a year earlier. Operating costs exceeded revenue by $30.3M, an operating margin of -9.3%. Operating expenses grew 14% against revenue growth of 14%. The fastest-growing cost line was Research & development (+23%). The quarter ended with a net loss of $21.1M, narrower than the previous quarter's $33.0M loss. Non-operating items added $8.8M, -41% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $30.8M (down 47% year over year). Non-cash charges added back $27.2M of depreciation and amortization and $55.6M of share-based compensation. Working capital and other items used $30.9M. After capitalized software development costs ($17.2M) and purchases of property, plant, and equipment ($3.0M), free cash flow as the company reports it was $10.6M.
Questions
What was Procore Technologies' revenue in the second quarter 2025?
Procore Technologies (PCOR) reported revenue of $324M for the second quarter 2025 (Q2 2025), +14% from a year earlier and +4% from the quarter before.
Was Procore Technologies profitable in the second quarter 2025?
Operating loss was $30.3M (-9.3% of revenue) and net loss $21.1M.