← PROCORE TECHNOLOGIES, INC.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $122.2m | $128.4m | $289.2m | $400.3m | $514.8m | $720.2m | $950.0m | $1.2b | $1.3b | |
| Total net revenues | $122.2m | $128.4m | $99.0m | $26.8m | $29.6m | $41.2m | $20.6m | $27.7m | $13.6m | |
| Cost of revenue | ($103.5m) | ($134.4m) | $53.2m | $71.7m | $98.3m | $148.4m | $174.5m | $205.6m | $270.8m | |
| Gross profit | $18.7m | ($6.0m) | $236.0m | $328.6m | $416.5m | $571.8m | $775.5m | $946.1m | $1.1b | |
| Research and development | ($6.2m) | ($6.3m) | $87.0m | $124.7m | $237.3m | $271.0m | $300.6m | $313.0m | $362.4m | |
| Total operating expenses | ($29.3m) | ($60.8m) | $318.7m | $387.2m | $702.4m | $862.2m | $991.2m | $1.1b | $1.2b | |
| Sales and marketing | ($4.3m) | ($2.5m) | $173.5m | $189.0m | $308.5m | $425.0m | $494.9m | $552.0m | $580.7m | |
| General and administrative | ($18.6m) | ($52.0m) | $58.2m | $73.5m | $156.6m | $166.3m | $195.7m | $217.5m | $233.0m | |
| Loss from operations | ($8.4m) | ($66.7m) | ($82.6m) | ($58.5m) | ($285.9m) | ($290.5m) | ($215.7m) | ($136.4m) | ($124.3m) | |
| Interest income | — | $2k | $15k | $293k | $175k | $7.9m | $19.8m | $23.7m | $20.9m | |
| Accretion income, net | — | — | — | — | $0 | $2.0m | $9.8m | $13.6m | $8.3m | |
| Loss before provision for income taxes | — | — | ($83.0m) | ($97.2m) | ($288.9m) | ($286.5m) | ($188.4m) | ($104.2m) | ($94.0m) | |
| Provision for income taxes | ($2.3m) | ($331k) | $71k | ($993k) | ($23.8m) | $466k | $1.3m | $1.8m | $6.8m | |
| Net loss | ($12.6m) | ($71.8m) | ($83.1m) | ($96.2m) | ($265.2m) | ($286.9m) | ($189.7m) | ($106.0m) | ($100.8m) | |
| Foreign currency translation adjustment, net of tax | — | — | $100k | $167k | ($770k) | ($1.4m) | $437k | ($1.8m) | $1.4m | |
| Unrealized income (loss) on available-for-sale debt and marketable securities, net of tax | — | — | — | — | $0 | ($378k) | $504k | $425k | $45k | |
| Comprehensive loss | — | — | ($83.0m) | ($96.0m) | ($265.9m) | ($288.7m) | ($188.8m) | ($107.3m) | ($99.3m) | |
| Other operating income | $2.1m | $180k | $1.9m | — | $247k | $148k | $22k | $396k | — | |
| Other income | $574k | $36k | $1.3m | $231k | $2.4m | $214k | $617k | $4.2m | $12.0m | |
| Gain on debt settlement | — | — | — | $26k | ($17.2m) | $217k | $176k | — | — | |
| Loss related to equity financing | — | — | — | — | — | ($3.7m) | ($14.2m) | — | — | |
| (Loss) gain on additional compensation to HHE | ($200k) | — | — | — | — | ($6.0m) | ($5.4m) | $6.0m | — | |
| Gain on deconsolidation of subsidiaries | — | — | — | — | — | — | — | $12.6m | $21.2m | |
| Loss on repurchase of convertible notes | — | — | — | — | — | — | — | ($600k) | — | |
| Unrealized loss on trading securities | — | — | — | — | — | — | — | — | ($830k) | |
| Realized gain on sale of securities | — | — | — | — | — | — | — | — | $1.1m | |
| Foreign exchange gain (loss) | ($779k) | $499k | $250k | $1.6m | ($2.7m) | ($1.5m) | $1.2m | ($73k) | ($119k) | |
| Net (loss) income from continuing operations | ($12.8m) | ($69.1m) | ($31.6m) | ($36.1m) | ($55.2m) | ($31.5m) | ($28.2m) | $17.5m | $9.7m | |
| Income (loss) from operations of discontinued entities | — | ($1.3m) | ($4.2m) | $1.3m | ($1.4m) | ($7.3m) | $2.4m | ($4k) | ($5.0m) | |
| Net income (loss) on discontinued operations | $431k | ($2.9m) | ($4.2m) | $1.3m | ($1.4m) | ($7.4m) | $1.3m | ($139k) | ($4.1m) | |
| Net (loss) income | ($12.4m) | ($72.0m) | ($35.7m) | ($34.8m) | ($56.6m) | ($38.9m) | ($26.9m) | $17.3m | $5.7m | |
| Net (loss) income attributable to noncontrolling interest – continuing operations | — | ($104k) | $5k | ($1k) | ($54k) | ($190k) | ($454k) | $626k | $287k | |
| Net (loss) income attributable to noncontrolling interest – discontinued operations | $292k | ($131k) | ($1.3m) | $716k | ($683k) | ($4.6m) | — | — | — | |
| Less: net (loss) income attributable to noncontrolling interest | $210k | ($235k) | ($1.3m) | $715k | ($737k) | ($4.8m) | ($454k) | $626k | $287k | |
| Net (loss) income attributable to ordinary shareholders | ($19.5m) | ($71.8m) | ($34.4m) | ($35.5m) | ($55.9m) | ($34.0m) | ($26.5m) | $16.7m | $5.4m | |
| Loss on deconsolidation of a subsidiary | — | — | — | — | — | ($3.6m) | — | — | — | |
| Loss on disposal of subsidiary | — | — | — | $10.1m | ($303k) | — | — | — | — | |
| Contingency reversal | — | — | — | ($3.1m) | $3.3m | — | — | — | — | |
| Change in fair value of contingent consideration for the acquisition of HHE | — | — | — | — | ($111k) | — | — | — | — | |
| Software | $11.1m | $8.1m | $15.0m | $10.1m | $10.7m | $13.1m | — | — | — | |
| Software – related party | $96k | $1.4m | — | $507k | — | — | — | — | — | |
| Hardware | $111.0m | $118.9m | $84.0m | $16.2m | $18.8m | $39.5m | — | — | — | |
| Net loss attributable to ordinary shareholders | ($19.5m) | ($71.8m) | ($34.4m) | ($35.5m) | ($55.9m) | ($34.0m) | ($26.5m) | $16.7m | $5.4m | |
| Weighted-average number of ordinary shares used in calculating discontinued operations—basic (in Shares) | $12.8m | $31.2m | $35.9m | $2.8m | $7.4m | $23.0m | — | — | — | |
| Weighted-average number of ordinary shares used in calculating discontinued operations—diluted (in Shares) | $12.8m | $31.2m | $35.9m | $2.8m | $7.4m | $23.0m | — | — | — | |
| Income (loss) from continuing operations, before income taxes | ($10.4m) | ($68.7m) | ($32.5m) | ($35.7m) | — | — | — | — | — | |
| Add: Accretion to redemption value of Convertible Redeemable Preferred Shares | ($7.0m) | — | — | — | — | — | — | — | — | |
| Interest and Dividend Income (Non-Bank) | $4k | $2k | $15k | — | — | — | — | — | — | |
| Extraordinary Items | $408k | ($1.3m) | ($4.2m) | — | — | — | — | — | — | |
| Profit or Loss | ($82k) | ($104k) | $5k | — | — | — | — | — | — | |
| Total other comprehensive income (loss) | — | — | — | $167k | ($770k) | ($1.7m) | $941k | ($1.4m) | $1.5m | |
| Net loss per share attributable to common stockholders, basic (in dollars per share) | ($2) | ($2) | ($1) | ($3) | ($3) | ($2) | ($1) | ($1) | ($1) | |
| Net loss per share attributable to common stockholders, diluted (in dollars per share) | ($2) | ($2) | ($1) | ($13) | ($3) | ($2) | ($1) | ($1) | ($1) | |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, basic (in shares) | ($1) | ($2) | ($2) | ($3) | ($3) | ($2) | ($1) | ($1) | ($1) | |
| Weighted-average shares used in computing net loss per share attributable to common stockholders, diluted (in shares) | ($1) | ($2) | ($2) | ($3) | ($3) | ($2) | ($1) | ($1) | ($1) | |
| (Loss) income per share—Basic (in Dollars per share) | ($1.53) | ($2.21) | ($0.88) | ($12.97) | ($89.80) | ($16.36) | ($2.13) | $0.55 | $0.28 | |
| (Loss) income per share—Diluted (in Dollars per share) | ($1.53) | ($2.21) | ($0.88) | ($12.97) | ($89.80) | ($16.36) | ($2.13) | $0.55 | $0.28 | |
| Loss per share—Basic (in Dollars per share) | $0.01 | ($0.09) | ($0.08) | $0.21 | ($1.15) | ($1.43) | $0.10 | $0.00 | ($0.12) | |
| Loss per share—Diluted (in Dollars per share) | ($1.53) | ($2.21) | — | — | ($1.15) | ($1.43) | $0.10 | $0.00 | ($0.12) | |
| Earnings (loss) per share—Diluted (in Dollars per share) | $0.01 | ($0.09) | ($0.08) | $0.21 | ($0.10) | ($0.23) | — | — | — | |
| Interest expense | ($1.8m) | ($2.6m) | ($5.0m) | ($2.4m) | ($2.3m) | ($2.1m) | ($2.0m) | $1.9m | ($1.2m) | |
| Other income (expense), net | — | — | $518k | $420k | ($843k) | ($1.7m) | ($360k) | ($3.1m) | $2.3m | |
| Other expense | ($8k) | ($18k) | — | ($210k) | ($3.2m) | ($2.1m) | ($140k) | ($210k) | ($6.2m) | |
| Income tax (expense) benefit | $23k | ($1.6m) | $949k | ($406k) | ($1.4m) | ($59k) | ($1.1m) | ($135k) | $945k |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.