Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 131

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 131
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 liabilities primarily reflected the following:

•a $34.3 million decrease in accounts receivable primarily due to timing of billings and cash receipts from customers; and

•a $11.0 million increase in accounts payable primarily due to timing of cash payments to our vendors.

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These changes in our operating assets and liabilities were partially offset by the following:

•a $12.1 million increase in prepaid expenses and other assets primarily due to timing of cash payments to our vendors;

•a $8.5 million decrease in accrued expenses and other liabilities primarily due to the size and timing of bonus and commission accruals and payouts, accrued ESPP contributions, payroll, and cash payments to our vendors;

•a $6.3 million increase in deferred revenue primarily due to the growth of our business and timing of billings;

•a $6.2 million decrease in operating lease liabilities related to lease payments; and

•a $3.2 million increase in deferred contract cost assets related to commissions as a result of additional customer contracts closed during the period.

Investing Activities

Net cash used in investing activities of $95.1 million during the nine months ended September 30, 2025 consisted of cash outflows for purchases of marketable securities of $277.8 million, capitalized software development costs of $47.9 million, business combinations of $41.5 million, purchases of property and equipment of $12.4 million primarily related to computer equipment purchases and improvements to our leased offices, asset acquisitions of $3.5 million, and purchases of strategic investments of $1.6 million. Such outflows were partially offset by $287.0 million in maturities of marketable securities and $2.7 million in sales of marketable securities.

Net cash used in investing activities of $108.9 million during the nine months ended September 30, 2024 consisted of purchases of marketable securities of $410.6 million, capitalized software development costs of $32.5 million, business combinations of $25.9 million, purchases of property and equipment of $7.5 million, asset acquisitions of $3.8 million, and purchases of strategic investments of $1.9 million. Such outflows were partially offset by $371.7 million in maturities of marketable securities, and $1.6 million of customer repayments for materials financing.

Financing Activities

Net cash used in financing activities of $171.8 million during the nine months ended September 30, 2025