Procore Technologies Reports Strong Q1 2026 Earnings Despite EPS Miss
Procore Technologies Inc. saw its stock price decline by 6.51% as it crossed below the 5-day SMA, despite the broader market gains in the Nasdaq-100 and S&P 500, which were both up 0.24%.
The company reported Q1 2026 revenue of $359 million, exceeding expectations and reflecting a 15.7% year-over-year growth. However, its non-GAAP EPS of $0.34 missed expectations by $0.02. Despite this, Procore's CFO raised the full-year revenue guidance to between $1.499 billion and $1.503 billion, indicating confidence in future growth. The strong performance in revenue and customer growth highlights the company's resilience in the construction sector.
The implications of this earnings report suggest that while Procore is experiencing significant revenue growth and customer expansion, the slight miss in EPS may have contributed to the stock's decline. Investors may need to weigh the strong revenue outlook against the EPS performance as they consider future investments.
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Procore Technologies Q1 2026 Earnings Call Highlights
- Significant Revenue Growth: Procore reported Q1 2026 revenue of $359 million, reflecting a 15.7% year-over-year increase that exceeded expectations, indicating strong performance and stable market demand in the construction sector.
- AI Strategy Advancement: CEO Gopal highlighted rapid integration of AI technologies, with plans for the sales team to fully promote Procore AI by Q3, demonstrating the company's proactive approach to innovation and competitive positioning.
- Accelerated Product Adoption: Procore Scheduling has been implemented by over 2,000 companies since its February launch, marking it as the fastest adopted product in the company's history, reflecting strong market demand for new technologies.
- Optimistic Financial Outlook: CFO Pyles raised the full-year 2026 revenue guidance to $1.499 billion to $1.503 billion and increased the non-GAAP operating margin forecast by 50 basis points, showcasing the company's confidence in future growth.
Procore Q1 Earnings Beat Expectations with Significant Customer Growth
- Earnings Performance: Procore Technologies reported a Q1 non-GAAP EPS of $0.34, missing expectations by $0.02, yet achieved revenue of $359.28 million, reflecting a 15.7% year-over-year growth and exceeding market expectations by $6.46 million, demonstrating resilience in the construction sector.
- Customer Growth: As of March 31, 2026, the number of organic customers contributing over $100,000 in annual recurring revenue reached 2,795, marking a 16% increase year-over-year, indicating sustained expansion in the customer base and strong market demand.
- Q2 Outlook: The company expects Q2 revenue to range between $364 million and $366 million, slightly below the consensus of $366.33 million, with year-over-year growth projected at 12% to 13%, reflecting a cautiously optimistic outlook for future growth.
- Full Year Outlook: For the full year 2026, revenue is anticipated to be between $1.499 billion and $1.503 billion, with a high-end year-over-year growth of 13.6%, while the non-GAAP operating margin is expected to be between 18% and 18.5%, indicating stability in profitability.
Procore Technologies Inc. Anticipates Q2 Revenue Between $364 Million and $366 Million
- Q2 Revenue Expectations: Procore Technologies' revenue for Q2 is anticipated to be between $364 million and $366 million.
Procore Technologies Reports Q1 Revenue of $359.283 Million, Exceeding IBES Estimate of $352.3 Million
Revenue Comparison: Procore Technologies reported a revenue of USD 359.28 million for Q1, exceeding the Ibes estimate of USD 352.3 million.
Financial Performance: The company's performance indicates a positive trend, surpassing market expectations in terms of revenue generation.
PROCORE RELEASES FINANCIAL RESULTS FOR FIRST QUARTER OF 2026
Financial Performance: Procore has announced its financial results for the first quarter of 2026, highlighting key metrics and performance indicators.
Revenue Growth: The company reported significant revenue growth compared to the previous quarter, reflecting strong demand for its services in the construction industry.
Market Position: Procore continues to strengthen its position in the market, leveraging technological advancements to enhance its offerings and customer satisfaction.
Future Outlook: The announcement includes projections for future growth and strategic initiatives aimed at expanding Procore's market reach and operational efficiency.
Procore Technologies Q1 Earnings Announcement Scheduled
- Earnings Release Date: Procore Technologies (PCOR) is set to announce its Q1 earnings on May 5th before market open, with a consensus EPS estimate of $0.36, reflecting a significant year-over-year increase of 263.6%, indicating strong performance in the construction sector.
- Revenue Expectations: The anticipated revenue for Q1 is $352.82 million, representing a 13.4% year-over-year growth, which underscores Procore's sustained growth potential, particularly amid industry challenges.
- Historical Performance Review: Over the past two years, Procore has beaten EPS estimates 75% of the time and achieved a 100% success rate in revenue estimates, demonstrating the company's reliability in financial forecasting and market adaptability.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen three upward revisions and 14 downward revisions, while revenue estimates experienced 16 upward revisions and one downward revision, reflecting mixed market sentiment regarding Procore's future performance, which may impact investor confidence.
Procore Technologies Q1 2026 Earnings Call Highlights
- Significant Revenue Growth: Procore reported Q1 2026 revenue of $359 million, reflecting a 15.7% year-over-year increase that exceeded expectations, indicating strong performance and stable market demand in the construction sector.
- AI Strategy Advancement: CEO Gopal highlighted rapid integration of AI technologies, with plans for the sales team to fully promote Procore AI by Q3, demonstrating the company's proactive approach to innovation and competitive positioning.
- Accelerated Product Adoption: Procore Scheduling has been implemented by over 2,000 companies since its February launch, marking it as the fastest adopted product in the company's history, reflecting strong market demand for new technologies.
- Optimistic Financial Outlook: CFO Pyles raised the full-year 2026 revenue guidance to $1.499 billion to $1.503 billion and increased the non-GAAP operating margin forecast by 50 basis points, showcasing the company's confidence in future growth.
Procore Q1 Earnings Beat Expectations with Significant Customer Growth
- Earnings Performance: Procore Technologies reported a Q1 non-GAAP EPS of $0.34, missing expectations by $0.02, yet achieved revenue of $359.28 million, reflecting a 15.7% year-over-year growth and exceeding market expectations by $6.46 million, demonstrating resilience in the construction sector.
- Customer Growth: As of March 31, 2026, the number of organic customers contributing over $100,000 in annual recurring revenue reached 2,795, marking a 16% increase year-over-year, indicating sustained expansion in the customer base and strong market demand.
- Q2 Outlook: The company expects Q2 revenue to range between $364 million and $366 million, slightly below the consensus of $366.33 million, with year-over-year growth projected at 12% to 13%, reflecting a cautiously optimistic outlook for future growth.
- Full Year Outlook: For the full year 2026, revenue is anticipated to be between $1.499 billion and $1.503 billion, with a high-end year-over-year growth of 13.6%, while the non-GAAP operating margin is expected to be between 18% and 18.5%, indicating stability in profitability.
Procore Technologies Inc. Anticipates Q2 Revenue Between $364 Million and $366 Million
- Q2 Revenue Expectations: Procore Technologies' revenue for Q2 is anticipated to be between $364 million and $366 million.
Procore Technologies Reports Q1 Revenue of $359.283 Million, Exceeding IBES Estimate of $352.3 Million
Revenue Comparison: Procore Technologies reported a revenue of USD 359.28 million for Q1, exceeding the Ibes estimate of USD 352.3 million.
Financial Performance: The company's performance indicates a positive trend, surpassing market expectations in terms of revenue generation.
PROCORE RELEASES FINANCIAL RESULTS FOR FIRST QUARTER OF 2026
Financial Performance: Procore has announced its financial results for the first quarter of 2026, highlighting key metrics and performance indicators.
Revenue Growth: The company reported significant revenue growth compared to the previous quarter, reflecting strong demand for its services in the construction industry.
Market Position: Procore continues to strengthen its position in the market, leveraging technological advancements to enhance its offerings and customer satisfaction.
Future Outlook: The announcement includes projections for future growth and strategic initiatives aimed at expanding Procore's market reach and operational efficiency.
Procore Technologies Q1 Earnings Announcement Scheduled
- Earnings Release Date: Procore Technologies (PCOR) is set to announce its Q1 earnings on May 5th before market open, with a consensus EPS estimate of $0.36, reflecting a significant year-over-year increase of 263.6%, indicating strong performance in the construction sector.
- Revenue Expectations: The anticipated revenue for Q1 is $352.82 million, representing a 13.4% year-over-year growth, which underscores Procore's sustained growth potential, particularly amid industry challenges.
- Historical Performance Review: Over the past two years, Procore has beaten EPS estimates 75% of the time and achieved a 100% success rate in revenue estimates, demonstrating the company's reliability in financial forecasting and market adaptability.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen three upward revisions and 14 downward revisions, while revenue estimates experienced 16 upward revisions and one downward revision, reflecting mixed market sentiment regarding Procore's future performance, which may impact investor confidence.
