Procore Technologies (PCOR) AI Stock Analysis

Company Guidance

For the fourth quarter, Procore expects reported revenue between $420 million and $422 million, representing year over year growth of 20.9% at the high end, including approximately $19 million of inorganic contribution from DroneDeploy; excluding DroneDeploy, the range is $401 to $403 million, or 15.4% growth at the high end. Q4 non GAAP operating margin is expected to be between 15.5% and 16% on a reported basis. For the full year, reported revenue is expected to be $1.557 to $1.559 billion, representing year over year growth of approximately 17.9% at the high end, including approximately $24 million of inorganic contribution from DroneDeploy; excluding DroneDeploy, that is a raise of approximately $21 million at the high end. Procore is raising full-year non GAAP operating margin guidance by 50 basis points to 19% at the low end and 19.5% at the high end on a reported basis, including the dilutive impact of DroneDeploy, implying year-over-year margin expansion of 540 basis points versus 14.1% in FY 2025. Procore is maintaining FY 2026 free cash flow margin guidance of 19.5% excluding the onetime DroneDeploy closing cost, with approximately $23 million or 150 basis points of such costs for the year, and expects free cash flow margin of 18% on a reported basis; FY 27 guidance for non GAAP operating margin is reiterated at 25%.