Company: PCOR
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001611052-25-000007
Chunk: 89

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 89
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 current liabilities1,708 2,228 Finance lease liabilities, non-current27,455 41,352 Total finance lease liabilities$29,163 $43,580 June 30, 2025December 31, 2024Weighted-average remaining lease term (in years)Finance leases12.012.2Operating leases10.28.9Weighted-average discount rateFinance leases3.81 %4.21 %Operating leases6.04 %6.10 %

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Table of ContentsProcore Technologies, Inc.Notes to Condensed Consolidated Financial Statements (unaudited)

Maturities of lease payments, net of tenant improvement reimbursement, for leases where the lease commencement date commenced on or prior to June 30, 2025 are as follows (in thousands):Period Ended December 31,OperatingFinanceTotal2025(1)$(2,196)$1,384 $(812)20265,825 2,817 8,642 20272,589 2,804 5,393 20286,160 2,870 9,030 20294,382 2,956 7,338 20304,948 3,045 7,993 Thereafter45,296 20,697 65,993 Total lease payments, net of tenant improvement reimbursement$67,004 $36,573 $103,577 Less imputed interest(23,800)(7,410)(31,210)Total$43,204 $29,163 $72,367 (1) For the six months from July 1, 2025 through December 31, 2025.

7.INTANGIBLE ASSETS AND GOODWILL

Intangible assetsDuring the six months ended June 30, 2025, the Company completed the acquisition of Novorender, which was accounted for as a business combination, as described above in Note 5. The Company also acquired another developed technology for $4.9 million, which was accounted for as an asset acquisition with an estimated useful life of four years, and the amortization expense is recorded in cost of revenue on the accompanying condensed consolidated statements of operations and comprehensive loss.The Company’s finite-lived and indefinite-lived intangible assets are summarized as follows (in thousands):June 30, 2025Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-Average Remaining Useful Life (Years