Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 38

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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 65,993 Total lease payments, net of tenant improvement reimbursement$66,904 $35,880 $102,784 Less imputed interest(23,130)(7,133)(30,263)Total$43,774 $28,747 $72,521 (1) For the three months from October 1, 2025 through December 31, 2025.

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

7.INTANGIBLE ASSETS AND GOODWILL

Intangible assetsDuring the nine months ended September 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 intangible asset 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):September 30, 2025Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-Average Remaining Useful Life (Years)Developed technology$212,451 $(120,442)$92,009 4.0Customer relationships75,950 (53,681)22,269 6.4Total finite-lived intangible assets$288,401 $(174,123)$114,278 4.5December 31, 2024Gross Carrying AmountAccumulated AmortizationNet Carrying AmountWeighted-Average Remaining Useful Life (Years)Developed technology$185,947 $(95,216)$90,731 4.0Customer relationships71,050 (43,683)27,367 4.9Total finite-lived intangible assets$256,997 $(138,899)$118,098 4.2In-process research and development2,848 — 2,848 Total intangible assets$259,845 $(138,899)$120,946 The Company’s in-process research and development (“IPR&D”) intangible asset, which was acquired in 2023, was considered indefinite-lived and assessed annually for impairment. During the nine months ended September 30, 2025, the Company completed the development