Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 31

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 thousands):Amortized CostGrossUnrealizedGainsGrossUnrealizedLossesFair ValueU.S. treasury securities$126,916 $142 $(13)$127,045 Commercial paper18,414 19 — 18,433 Corporate notes and obligations237,965 339 (67)238,237 Total marketable securities$383,295 $500 $(80)$383,715 The following table summarizes the estimated fair value of investments classified as marketable securities by contractual maturity date (in thousands):September 30,2025December 31,2024Due within 1 year$333,480 $337,673 Due in 1 to 2 years43,966 46,042 Total marketable securities$377,446 $383,715 During the nine months ended September 30, 2025 and 2024, there were maturities of marketable securities of $287.0 million and $371.7 million, respectively. During the nine months ended September 30, 2025, there were $2.7 million sales of marketable securities. There were no sales of marketable securities during the nine months ended September 30, 2024. Realized gains and losses on sales of marketable securities are recorded in other income (expense), net on the condensed consolidated statements of operations and comprehensive loss. Such gains and losses were immaterial during the nine months ended September 30, 2025. There were no impairments of marketable securities during the nine months ended September 30, 2025 or 2024.

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

Strategic investmentsStrategic investment activity during the nine months ended September 30, 2025 is summarized as follows (in thousands):Equity SecuritiesLimited PartnershipsTotalBalance as of December 31, 2024$8,685 $5,669 $14,354 Purchases of strategic investments, net(1)— 1,641 1,641 Unrealized gain on strategic investments— 232 232 Impairment of strategic investments(469)— (469)Balance as of September 30, 2025$8,216 $7,542 $15,758     (1) Includes net contributions and distributions from limited partnership securities.Strategic investment activity during the nine months ended