Company: PCOR
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021898
Chunk: 16

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 (100,440)— — (100,440)Other comprehensive income—— — 246 — 246 Net loss—— — — (32,989)(32,989)Balance as of March 31, 2025149,104,117$15 $2,461,905 $(2,491)$(1,277,782)$1,181,647 

The accompanying notes are an integral part of these condensed consolidated financial statements.

5

Procore Technologies, Inc.

Condensed Consolidated Statements of Cash Flows (unaudited)Three Months Ended March 31,(in thousands)20252024Operating activitiesNet loss$(32,989)$(10,966)Adjustments to reconcile net loss to net cash provided by operating activitiesStock-based compensation48,279 40,132 Depreciation and amortization26,855 20,051 Accretion of discounts on marketable debt securities, net(2,425)(3,088)Abandonment of long-lived assets354 268 Noncash operating lease expense1,555 2,734 Unrealized foreign currency (gain) loss, net(1,136)1,079 Deferred income taxes2,215 1 (Benefit from) provision for credit losses(909)189 Decrease (increase) in fair value of strategic investments224 (759)Changes in operating assets and liabilities, net of effect of asset acquisitionAccounts receivable86,327 68,013 Deferred contract cost assets(6,569)(427)Prepaid expenses and other assets(7,454)(684)Accounts payable(11,070)3,155 Accrued expenses and other liabilities(9,880)(34,154)Deferred revenue(26,568)(14,108)Operating lease liabilities(781)(2,291)Net cash provided by operating activities66,028 69,145 Investing activitiesPurchases of property and equipment(4,033)(2,089)Capitalized software development costs(15,331)(9,514)Purchases of strategic investments(550)(210)Purchases of marketable securities(134,598)(101,434)Maturities of marketable securities135,787 107,301 Customer repayments of materials financing— 1,281 Business combinations, net of cash acquired(41,253)— Asset acquisition, net of cash acquired(3,533)(5