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Procore Technologies Inc

Procore Technologies, Inc., together with its subsidiaries, provides a cloud-based construction management platform and related products and services in the United States and internationally. Its platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects. The company offers Preconstruction that facilitates collaboration between internal and external stakeholders during the takeoff, planning, budgeting, estimating, bidding, design, and partner selection phases of a construction project and Project Execution, which enables collaboration, information transmission and storage, and safety regulation compliance for teams on the jobsite and in the back office. It also provides Resource Management, that helps customers to schedule, track, and forecast workforce and equipment productivity, improve time management, communicate with workforces, optimize procurement and movement of materials, and manage profitability on construction projects; and Financial Management, which provides customers with visibility into the financial health of their individual construction projects and portfolios, as well as facilitates untethered access to financial data, and support payments between key stakeholders. The company serves owners, general contractors, and specialty contractors operating in the residential and non-residential segments of the construction industry. The company sells its products online through computers, smartphones, tablets, web browser, and mobile application available for iOS and Android platforms. Procore Technologies, Inc. was formerly known as Butterfly Lane, Inc and changed its name to Procore Technologies, Inc. in May 2002. The company was incorporated in 2002 and is headquartered in Carpinteria, California.

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Design Software Stocks Post Strong Q2 Earnings

Design software stocks delivered a strong second quarter, with the six companies tracked beating revenue consensus estimates by 1.4% and issuing next-quarter guidance 2.9% above expectations. Procore Technologies reported revenues of $375.2 million, up 15.8% year on year, exceeding analysts' expectations by 2.6%, while Unity posted revenues of $546.5 million, up 23.9% year on year, outperforming expectations by 6.1%. PTC reported revenues of $600 million, down 6.8% year on year, falling short of expectations by 1.3%, and Adobe reported revenues of $6.62 billion, up 12.7% year on year, surpassing expectations by 2.6%. Cadence Design Systems reported revenues of $1.58 billion, up 24.2% year on year, beating expectations by 0.5%. Share prices of the group have risen 17.9% on average since the latest earnings results.
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Spyglass Growth Strategy says Procore Technologies detracted from Q2 performance

Spyglass Capital Management's Growth Strategy reported that Procore Technologies was a bottom contributor during the second quarter of 2026. The strategy appreciated 24.63% in Q2, outperforming the Bloomberg Midcap Growth Index's 14.05% gain. Procore's first-quarter results exceeded consensus expectations for both revenue and earnings, but the stock was caught up in a broader software sector selloff. The firm believes Procore's underlying momentum remains intact, supported by a widening data moat and an emerging AI monetization opportunity. Procore closed at $53.79 per share on July 30, 2026, with a market capitalization of $8.12 billion.
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Procore Technologies beats Q2 CY2026 revenue estimates with 15.8% growth

Procore Technologies reported better-than-expected revenue for the second quarter of calendar year 2026, with sales rising 15.8% year on year to $375.2 million, exceeding analyst estimates of $365.8 million. The construction management software provider posted adjusted earnings per share of $0.47, a 15.1% beat over the consensus of $0.41, while adjusted operating income of $80.49 million topped estimates by 21.6%. The company also raised its full-year revenue guidance slightly to $1.51 billion at the midpoint from $1.50 billion. Billings reached $393.1 million, up 21.5% year on year, and the stock traded up 2.3% to $51.35 following the release.
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Procore Technologies slid amid AI disruption concerns, says Wasatch

Procore Technologies detracted from the Wasatch Small Cap Growth Strategy in the second quarter of 2026 as software stocks sold off on fears that artificial intelligence could disrupt business models. The strategy noted that Procore's competitive advantage lies in its extensive contractor network and proprietary project data, which are difficult to replicate and could actually benefit from AI. Procore shares lost 44.12% over the past 52 weeks and closed at $42.83 on July 24, 2026, with a market capitalization of $6.46 billion. The company reported first-quarter 2026 revenue of $359 million, up 15.7% year-over-year, and was held by 35 hedge funds at the end of the first quarter, down from 45 in the prior quarter.
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Procore Technologies rolls out connected Common Data Environment in UK and Ireland

Procore Technologies announced the roll-out of its connected Common Data Environment, a purpose-built single-platform CDE that unifies and verifies project data from approved design to handover. The rollout begins in the UK and Ireland, with expansion across EMEA to follow, and a dedicated EU Data Zone is expected to launch in the fall of 2026. The company has also developed a localized UK Data Zone to meet European market requirements. The CDE captures evidence in the flow of work and keeps the digital record aligned with site reality, providing a trusted data foundation for agentic AI throughout the construction lifecycle.
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Cloud & Digital Infrastructure ▲Artificial Intelligence
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StockStory Highlights Two Small-Cap Stocks to Own and One to Sell

StockStory recommends FuelCell Energy and Viper Energy as small-cap stocks to own for decades, while advising investors to sell Procore Technologies. FuelCell Energy posted 38.8% annual revenue growth over two years and 40.6% annual EPS growth, with improving cash burn. Viper Energy delivered 36.8% annual revenue growth over ten years, a 99.8% gross margin, and a 6.4 percentage point EBITDA margin improvement over five years. Procore Technologies saw sluggish 14.9% average ARR growth, estimated 13% forward sales growth, and persistent operating losses.
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Workday, Procore, and Twilio Shares Fall as AI Fears Hit Software Stocks

Shares of Workday, Procore Technologies, and Twilio declined in afternoon trading as a broader sell-off in communication-services and software stocks was triggered by high-profile AI talent departures from Alphabet and regulatory concerns. Workday fell 4.4%, Procore Technologies dropped 3.7%, and Twilio slipped 2.4%, with the declines reflecting persistent market fears that AI agents will erode the subscription-based revenue model of traditional enterprise software. The previous week's nearly 20% single-day drop in Accenture after it cut its growth outlook and cited AI compressing demand for IT services reinforced the thesis, while the launch of more capable AI models like Anthropic's Claude Fable 5 and Claude Mythos 5 added to the pressure. An incident involving a US Apache helicopter near Oman and Trump's call for a response to an alleged Iranian attack over the Strait of Hormuz provided an additional macro headwind, as software valuations are sensitive to interest-rate expectations. Workday is now down 45.5% year-to-date and trading 54.7% below its 52-week high of $247.69.
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Procore launches portfolio management and capital planning suite with embedded AI for owners

Procore Technologies announced new portfolio management and capital planning capabilities designed to give capital project owners consolidated visibility and control across the entire project lifecycle. The suite includes Concept Projects, Portfolio Monitoring, Owners Hub, Capital Planning, Funding Source Management, and Asset Management, all built on Procore's platform and embedded with Procore AI to help surface insights, identify risks, and automate workflows. Nearly 92% of large capital projects fail to finish on time and on budget, and Procore aims to replace fragmented systems that contribute to delays and cost overruns. Owners Hub, Portfolio Monitoring, Concept Projects, and Asset Management are currently in beta with general availability planned for summer 2026, while Capital Planning and Funding Source Management are expected to enter beta later this month and become generally available in late 2026.
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Cloud & Digital Infrastructure Artificial Intelligence
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