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EarningsQ2 2026 Earnings Report
PCOR Q2 2026 EPS Results
Actual EPS$0.47
Consensus EPS$0.42
Beat/MissBeat by +$0.05
One Year Ago EPS$0.35
PCOR Q2 2026 Revenue Results
Actual Revenue$375.21M
Expected Revenue$365.82M
Beat/MissBeat by +$9.38M
YoY Revenue Growth+15.83%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeAfter Close
Conference CallWednesday, July 29, 2026
PCOR Upcoming Earnings
Procore Technologies's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
PCOR Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, characterized by 15.8% year-over-year revenue growth, substantial margin and free cash flow expansion, raised FY 2026 guidance, first-quarter GAAP operating profitability, strong large-deal and data center momentum, and early progress in Procore AI. Management also expressed confidence in the DroneDeploy acquisition and longer-term profitable growth strategy. The primary challenges discussed were market deceleration in residential and multifamily construction, weakness in manufacturing, the industry labor shortage, relatively early international penetration, and the acquisition's near-term margin headwind and interim bridge financing.Company Guidance
Strong Q2 Revenue Growth and Profitability
Q2 revenue was $375 million, up 15.8% year-over-year, while non-GAAP operating income was $81 million and non-GAAP operating margin was 21.5%, up 800 basis points year-over-year. The company also delivered its first quarter of GAAP operating profitability.
Significant Free Cash Flow Improvement
Q2 free cash flow was $65 million, up 507% year-over-year.
Raised FY 2026 Guidance
The company raised FY 2026 revenue guidance to $1.51 billion to $1.514 billion, representing total year-over-year growth of 14.5% at the high end. Non-GAAP operating margin guidance was raised by 50 basis points to 18.5% to 19%, implying year-over-year margin expansion of 440 to 490 basis points. Free cash flow margin guidance was also raised by 50 basis points to 19.5%, implying approximately 310 basis points of year-over-year expansion.
Initiated FY 2027 Margin Guidance
Procore initiated FY 2027 non-GAAP operating margin guidance of 25%, representing nearly 1,100 basis points of improvement versus FY 2025. Management attributed its confidence to a detailed review of the cost structure and stated that the target is the first of several milestones in its longer-term margin expansion trajectory.
Revenue Beat and Broad-Based Demand
Q2 revenue exceeded the high end of guidance by approximately 2.5%. Management said growth was broad-based across multiple geographies, stakeholders, and customer sizes, with robust demand across the portfolio.
Large Deal and CRPO Momentum
Large deal execution was a key contributor to Q2 performance, including high-profile new logos and large-scale data center opportunities. Year-over-year CRPO growth accelerated by 100 basis points, primarily due to stronger underlying bookings, with a smaller contribution from increased average contract duration.
Data Center Market Leadership
Procore reported that nine of the 10 largest North American data center sites use its solutions during construction. U.S. construction spending in the data center sub-sector has tripled over the last three years, according to Goldman Sachs Research, and JLL reports that nearly 100 gigawatts of new data centers will be added between 2026 and 2030, doubling global capacity.
Largest EMEA Contract in Company History
Procore closed a nearly $7 million agreement with a European company building hyperscale AI data centers across Europe, the U.S., and APAC. The customer will use Procore as the system of record for its global construction program, including project execution, document control, and cost management.
Major Saudi Arabia Airport Contract
Procore signed a contract for the King Salman International Airport in Saudi Arabia, a public investment fund project expected to become one of the largest airports in the world. The project will use Procore for unified digital construction management and a connected source of project data from design through delivery.
International Revenue Growth
Q2 international revenue grew 23% year-over-year, or 19% on a constant currency basis. Management also reported positive customer feedback following the launch of a Europe-specific common data environment and cited the King Salman International Airport relationship as evidence of momentum in the Middle East.
Expansion of Procore AI
Following the Datagrid acquisition, Procore integrated the technology into its platform and expanded its library to 20 construction-specific AI agents. Procore AI moved from a dedicated specialist sales overlay to the broader go-to-market organization and became generally available.
Early Customer Success with AI Agents
Consigli deployed four Procore AI agents across three test projects and reported that drawing searches decreased from 30 minutes to five minutes, while material verifications that took 10 minutes could be completed in seconds. Consigli is now deploying generally available Procore AI across 50 projects.
DroneDeploy Acquisition Advances AI Strategy
Procore agreed to acquire DroneDeploy for $845 million in cash. Management described the transaction as strategically aligned with its AI-native construction application strategy, particularly by adding visual intelligence, reality capture, and robotic automation capabilities.
DroneDeploy Scale and Data Assets
DroneDeploy is used on over 3 million job sites across more than 180 countries, has captured 20 trillion square feet of visual construction data, and has nearly 600 mutual customers with Procore. Its data includes tens of millions of user-generated annotations, image segmentation, construction progress labeling, and more than 100,000 labeled safety issues.
Expected Acquisition Synergies
Management stated that Procore and DroneDeploy offer complementary, non-overlapping solutions and have existing integrations used by joint customers. Procore plans to cross-sell DroneDeploy to its broader customer base and vice versa, with thousands of Procore customers identified as potential users of a combined offering.
Product Expansion Across Stakeholders
Procore reported expansion beyond general contractors into owners and specialty contractors, with owners and subs representing approximately 40% of the business. The company also launched a Europe-specific common data environment and a solution for owners focused on portfolio management and capital planning.
Q3 Organic Outlook
For Q3 2026, Procore expects revenue of $382 million to $384 million, representing year-over-year growth of 13.3% at the high end, and non-GAAP operating margin of 19% to 19.5%. The outlook excludes contributions from DroneDeploy.
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