Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 16

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 16
---
Item 1. Financial Statements

Procore Technologies, Inc.

Condensed Consolidated Balance Sheets (unaudited)

(in thousands, except number of shares and par value)September 30,2025December 31,2024AssetsCurrent assetsCash and cash equivalents$350,496 $437,722 Marketable securities, current (amortized cost of $333,058 and $337,253 at September 30, 2025 and December 31, 2024, respectively)333,480 337,673 Accounts receivable, net of allowance for credit losses of $3,528 and $6,109 at September 30, 2025 and December 31, 2024, respectively205,812 246,472 Contract cost asset, current47,793 33,922 Prepaid expenses and other current assets67,634 44,090 Total current assets1,005,215 1,099,879 Marketable securities, non-current (amortized cost of $43,966 and $46,042 at September 30, 2025 and December 31, 2024, respectively)43,966 46,042 Capitalized software development costs, net135,650 112,321 Property and equipment, net45,715 43,592 Right of use assets - finance leases20,070 31,727 Right of use assets - operating leases32,012 28,790 Contract cost asset, non-current66,214 47,505 Intangible assets, net114,278 120,946 Goodwill573,933 549,651 Other assets21,430 20,918 Total assets$2,058,483 $2,101,371 Liabilities and Stockholders’ EquityCurrent liabilitiesAccounts payable$28,887 $33,146 Accrued expenses110,430 88,740 Deferred revenue, current572,050 584,719 Other current liabilities42,608 21,427 Total current liabilities753,975 728,032 Deferred revenue, non-current5,500 5,815 Finance lease liabilities, non-current27,002 41,352 Operating lease liabilities, non-current36,042 32,697 Other liabilities, non-current11,941 5,122 Total liabilities834,460 813,018 Commitments and contingencies (Note 9)Stockholders