← PROCORE TECHNOLOGIES, INC.
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | $1.9m | $1.0m | $379.9m | $586.1m | $296.7m | $357.8m | $437.7m | $480.7m | |
| Accounts receivable, net of allowance for credit losses of [in-cell link] and [in-cell link] at [in-cell link] and [in-cell link], respectively | $2.5m | $1.7m | $77.7m | $114.0m | $148.7m | $206.6m | $246.5m | $287.8m | |
| Prepaid expenses and other current assets | — | $16.0m | $16.8m | $35.2m | $44.7m | $42.4m | $44.1m | $55.2m | |
| Short term investments | — | — | — | — | — | — | — | $4.9m | |
| Subscriptions receivable | — | ($15.3m) | ($19.4m) | ($15.3m) | ($14.4m) | ($25.5m) | ($16.1m) | ($16.1m) | |
| Inventories, net | $6.8m | $4.5m | $2.7m | $6.8m | $4.2m | $3.6m | — | — | |
| Restricted Cash, Current | — | $5.0m | — | — | — | — | — | — | |
| Other Current Assets | $3.7m | — | — | — | — | — | — | — | |
| Total current assets | $53.8m | $35.1m | $488.0m | $752.3m | $799.2m | $955.7m | $1.1b | $1.2b | |
| Capitalized software development costs, net | — | — | $18.5m | $27.1m | $58.6m | $83.0m | $112.3m | $142.2m | |
| Property and equipment, net | $305k | $241k | $30.3m | $36.8m | $39.2m | $36.3m | $43.6m | $48.6m | |
| Intangible assets, net | $11.4m | $9.4m | $33.2m | $202.0m | $163.0m | $137.5m | $120.9m | $105.4m | |
| Goodwill | — | — | $126.0m | $540.9m | $539.1m | $539.4m | $549.7m | $574.1m | |
| Right of use assets - finance leases | — | — | $42.1m | $39.6m | $37.0m | $34.4m | $31.7m | $19.6m | |
| Right of use assets - operating leases | — | — | $49.8m | $44.1m | $41.9m | $44.1m | $28.8m | $36.0m | |
| Other assets | $556k | — | $10.4m | $18.9m | $21.9m | $18.6m | $20.9m | $24.8m | |
| Right of use asset | — | $703k | $707k | — | — | — | — | — | |
| Marketable securities (amortized cost of [in-cell link] and [in-cell link] at [in-cell link] and [in-cell link], respectively) | — | — | — | — | $285.5m | $320.2m | $337.7m | $287.8m | |
| Contract cost asset, current | — | — | $13.6m | $17.0m | $23.6m | $28.7m | $33.9m | $55.4m | |
| Marketable securities, non-current (amortized cost of [in-cell link] and [in-cell link] at [in-cell link] and [in-cell link], respectively) | — | — | — | — | — | $0 | $46.0m | $42.5m | |
| Contract cost asset, non-current | — | — | $19.5m | $25.9m | $40.5m | $44.6m | $47.5m | $79.0m | |
| Other current liabilities | $5.4m | $6.5m | $10.8m | $20.8m | $21.6m | $27.3m | $21.4m | $42.0m | |
| Finance lease liabilities, non-current | — | — | $48.8m | $47.3m | $45.6m | $43.6m | $41.4m | $26.6m | |
| Operating lease liabilities, non-current | — | — | $46.6m | $41.6m | $38.1m | $37.9m | $32.7m | $45.9m | |
| Other liabilities, non-current | — | — | $1.9m | $4.7m | $3.0m | $6.3m | $5.1m | $13.8m | |
| Restricted cash | — | $5.0m | $37k | $211k | $32k | $26k | $26k | — | |
| Time deposits | — | — | — | — | $1.4m | $3.5m | $3.4m | — | |
| Current assets held for sale | $2.6m | $6.0m | — | $2.2m | — | $8.0m | $11.1m | — | |
| Non-current assets held for sale | — | $10.3m | — | $18.1m | — | $2.5m | $1.8m | — | |
| Contract liabilities | — | $6.5m | $7.5m | $7.3m | $4.0m | $1.3m | $1.3m | — | |
| Lease liabilities – current | — | — | — | — | $536k | $140k | $179k | $12k | |
| Short-term bank and other borrowings | — | $5.0m | $2.4m | $361k | — | $424k | $417k | — | |
| Income tax payable | $2.0m | $879k | $1.9m | $399k | $7k | $216k | — | $6k | |
| Current liabilities held for sale | $18.7m | $21.0m | $3.2m | $3.1m | — | $2.3m | $4.3m | — | |
| Non-current liabilities held for sale | $1.8m | $1.8m | — | $1.8m | — | $2.7m | $2.1m | — | |
| Statutory reserve | $2.1m | $2.1m | $2.1m | $1.9m | $1.9m | $1.9m | $1.9m | $1.9m | |
| Deferred tax assets | $639k | $969k | $1.1m | $471k | $424k | $44k | — | — | |
| Convertible notes | — | — | — | $10.0m | $1.7m | $2.7m | — | — | |
| Construction in progress | — | — | — | $94k | — | — | — | — | |
| Lease liabilities - current | — | $814k | $307k | $1.0m | $536k | $140k | $179k | $12k | |
| Amount due to related parties-current | $1.1m | $3.5m | $3.1m | $2.5m | $746k | — | — | — | |
| Contingent consideration –current | — | — | — | $1.4m | — | — | — | — | |
| Unrecognized tax benefits | — | — | — | $2.2m | $2.0m | — | — | — | |
| Contingent consideration – non-current | — | — | — | $389k | — | — | — | — | |
| Other non-current liabilities | — | — | — | $15k | — | — | — | — | |
| Contract assets | $3.2m | — | — | $1.5m | — | — | — | — | |
| Long-term bank borrowings | $6.7m | $361k | $1.2m | $661k | — | — | — | — | |
| Amounts due from related parties | $9.4m | $933k | — | — | — | — | — | — | |
| Long-term bank borrowings - current portion | $5.8m | $13.0m | $13.0m | — | — | — | — | — | |
| Deferred government grants | $1.9m | — | — | — | — | — | — | — | |
| Other Non-Operating Current Assets | $27.0m | $16.0m | — | — | — | — | — | — | |
| Other Non-Operating Non-Current Assets | $10.4m | $10.3m | — | — | — | — | — | — | |
| Advances from customers | $5.4m | — | — | — | — | — | — | — | |
| Total stockholders’ equity | ($22.2m) | ($44.3m) | ($272.1m) | $1.2b | $1.1b | $1.2b | $1.3b | $1.3b | |
| Total non-current assets | $26.6m | $21.6m | $5.5m | $22.0m | $2.2m | $3.3m | $2.1m | $48k | |
| Total non-current liabilities | $19.7m | $5.9m | $4.8m | $6.1m | $3.4m | $2.8m | $2.1m | $30k | |
| Total shareholders’ (deficit) equity | ($22.5m) | ($48.7m) | ($62.2m) | ($17.3m) | ($11.2m) | ($14.4m) | ($3.6m) | $6.9m | |
| Total assets | $80.4m | $56.8m | $820.8m | $1.7b | $1.7b | $1.9b | $2.1b | $2.2b | |
| Total liabilities and stockholders’ equity | $80.4m | $56.8m | $820.8m | $1.7b | $1.7b | $1.9b | $2.1b | $2.2b | |
| Accounts payable | $18.8m | $16.3m | $9.0m | $15.5m | $14.3m | $13.2m | $33.1m | $25.2m | |
| Accrued expenses | — | — | $28.5m | $65.9m | $99.2m | $100.1m | $88.7m | $130.3m | |
| Deferred revenue, current | $2.3m | — | $213.4m | $301.6m | $396.5m | $501.9m | $584.7m | $687.1m | |
| Deferred revenue, non-current | $4.9m | — | $6.4m | $4.0m | $5.3m | $7.7m | $5.8m | $6.0m | |
| Accrued expenses and other payables | $19.0m | $32.5m | $42.5m | $27.6m | $23.9m | $19.4m | $15.3m | $1.5m | |
| Deferred revenues - current | $2.3m | $84k | $56k | — | — | — | — | — | |
| Accrued Income Taxes | $968k | $879k | — | — | — | — | — | — | |
| Short-Term Debt | $11.0m | $5.0m | — | — | — | — | — | — | |
| Total current liabilities | $83.1m | $99.6m | $261.7m | $403.7m | $531.6m | $642.4m | $728.0m | $884.6m | |
| Deferred tax liabilities | $2.5m | $1.8m | $950k | $1.0m | $909k | $1.3m | — | — | |
| Total liabilities | $102.9m | $105.5m | $365.4m | $501.4m | $623.6m | $738.0m | $813.0m | $976.8m | |
| Preferred stock, $0.0001 par value, 100,000,000 shares authorized at [in-cell link] and [in-cell link]; [in-cell link] shares issued and outstanding at [in-cell link] and [in-cell link]. | — | — | — | — | 0 | 0 | 0 | 0 | |
| Common stock, $0.0001 par value, 1,000,000,000 shares authorized at [in-cell link] and [in-cell link] ; [in-cell link] and [in-cell link] shares issued and outstanding at [in-cell link] and [in-cell link], respectively. | — | — | 3k | 13k | 14k | 15k | 15k | 15k | |
| Additional paid-in capital | $124.1m | $150.5m | $124.8m | $1.9b | $2.1b | $2.3b | $2.5b | $2.6b | |
| Accumulated other comprehensive loss | ($2.1m) | ($1.9m) | $187k | ($583k) | ($2.3m) | ($1.4m) | ($2.7m) | ($1.3m) | |
| Accumulated deficit | ($146.2m) | ($179.7m) | ($397.0m) | ($662.2m) | ($949.1m) | ($1.1b) | ($1.2b) | ($1.3b) | |
| Noncontrolling interest | ($296k) | ($4.4m) | ($113k) | $6.0m | ($358k) | ($812k) | ($193k) | $216k |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.