EarningsQ1 2026 Earnings Report
MX:PCOR Q1 2026 EPS Results
Actual EPS$6.15
Consensus EPS$6.55
Beat/MissMissed by -$0.40
One Year Ago EPS$4.16
MX:PCOR Q1 2026 Revenue Results
Actual Revenue$6.50B
Expected Revenue$6.38B
Beat/MissBeat by +$117.02M
YoY Revenue Growth+15.66%
Earnings Announcement Details
QuarterQ1 2026
Date05/05/2026
TimeBefore Open
Conference CallTuesday, May 5, 2026
MX:PCOR Upcoming Earnings
Procore Technologies's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q1 2026 Earnings Call Audio
MX:PCOR Q1 2026 Earnings Call
0:00 / 0:00
Q1 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q1 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong quarter with clear execution: double-digit revenue growth (15.7%), substantial margin expansion (+650 bps to 17%), improved free cash flow (+20%) and raised full-year guidance. Momentum across backlog metrics, large deal wins, rapid product adoption (Procore Scheduling, 2,000+ companies), strategic partnerships (NVIDIA) and early but fast-moving AI integration (Datagrid, agents, voice pilot) underpin an optimistic outlook. Key risks are modest near-term gross margin headwinds from AI compute costs, the early-stage nature of AI monetization and go-to-market scaling (broader sales motion expected in Q3), and some perceived short-term deceleration in guide pacing. Overall, positives substantially outweigh the near-term headwinds, with anticipated efficiency gains and monetization opportunities materializing over the medium term (notably into 2027).Company Guidance
Strong Q1 Revenue and Profitability
Total revenue of $359 million in Q1, up 15.7% year-over-year; non-GAAP operating income of $61 million representing a 17% non-GAAP operating margin (up 650 basis points year-over-year); free cash flow of $56 million, up 20% year-over-year.
Robust Backlog and Contract Metrics
Current RPO grew 21% year-over-year and current deferred revenue grew 17% year-over-year; CRPO remained strong (~20% growth commentary) and 6+-figure ARR wins grew 24% year-over-year, indicating larger-scale engagements and pipeline strength.
Raised Full-Year Guidance
Full-year fiscal 2026 revenue guidance raised to $1.499 billion–$1.53 billion (implying up to +13.6% year-over-year at the high end); full-year non-GAAP operating margin guidance increased by 50 basis points to 18%–18.5% (implying ~390–440 bps y/y expansion); free cash flow margin guidance maintained at 19% (implying ~280 bps y/y expansion). Q2 revenue guide is $364M–$366M and Q2 non-GAAP margin guide is 17.5%–18.5%.
Procore AI Progress and Datagrid Integration
Acquisition of Datagrid and rapid integration into Procore AI; deployed embedded AI agents (RFI analysis, submittal cross-checking, compliance auditing), event-driven triggers, a pilot voice AI interface for field workers, and a contract review agent launched and tested within ~30 days — positioning Procore to monetize agentic AI and expand TAM.
Strong Product Adoption and Customer Expansions
Flagship platform reports nearly 3 million active users; Procore Scheduling (native) adopted by over 2,000 companies since February launch; Trinity Group expanded its construction volume commitment to $1.1 billion (6x increase); Helm Group and other specialty contractors expanded usage after successful rollouts.
Customer Outcomes and Case Studies
Customer examples: Crest operations reduced complex bidding workflows from weeks to as little as 20 minutes using Procore AI; Collin Construction (Dublin) standardized on Procore expecting to save >46,000 labor hours over 3 years (~13 FTEs) and reduce nonrecoverable change orders by 25%.
Strategic Partnerships and International Product Moves
Announced integration with NVIDIA to accelerate AI-factory and infrastructure builds; launched BIN model federation and streaming viewer and a European common data environment (CDE/IS0-19650 compliance) to win upmarket in Europe; positive early feedback from regional customers.
Capital Allocation and FCF Per Share Focus
New CFO articulated capital allocation framework prioritizing high-ROI organic investments, targeted M&A to accelerate roadmap, and opportunistic share repurchases; emphasis on compounding free cash flow per share and limiting share count growth.
MX:PCOR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed