Company: PCOR
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001611052-25-000007
Chunk: 83

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 83
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 sales of marketable securities are recorded in other income (expense), net on the condensed consolidated statements of operations and comprehensive loss. There were no impairments of marketable securities during the six months ended June 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 six months ended June 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)— 902 902 Unrealized gain on strategic investments— 194 194 Impairment of strategic investments(377)— (377)Balance as of June 30, 2025$8,308 $6,765 $15,073     (1) Includes net contributions and distributions from limited partnership securities.Strategic investment activity during the six months ended June 30, 2024 is summarized as follows (in thousands):Equity SecuritiesLimited PartnershipsAvailable-for- Sale DebtSecuritiesTotalBalance as of December 31, 2023$7,179 $3,986 $362 $11,527 Interest accrued on available-for-sale debt securities— — 4 4 Purchases of strategic investments498 574 — 1,072 Unrealized gain on strategic investments671 154 — 825 Impairment of strategic investments(184)— — (184)Balance as of June 30, 2024$8,164 $4,714 $366 $13,244 Strategic investments are recorded in other assets on the accompanying condensed consolidated balance sheets. The Company’s available-for-sale debt security converted to equity during the fourth quarter of 2024. As such the Company no longer holds any available-for-sale debt securities in its strategic investment portfolio as of June 30, 2025.

As of June 30, 2025, in connection with the Company’s investments in limited partnerships, it has a contractual obligation to provide additional investment funding of up to $5.6 million at the option of the investees. 

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

4.FAIR VALUE OF FINANCIAL