Company: PCOR
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021898
Chunk: 69

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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(3)4,592 Corporate notes and obligations285,572 408 (51)285,929 Total marketable securities$384,584 $559 $(60)$385,083 Marketable securities consisted of the following as of December 31, 2024 (in 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):March 31, 2025December 31, 2024Due within 1 year$252,956 $337,673 Due in 1 to 2 years132,127 46,042 Total marketable securities$385,083 $383,715 During the three months ended March 31, 2025 and 2024, there were maturities of marketable securities of $135.8 million and $107.3 million, respectively. There were no sales of marketable securities during the three months ended March 31, 2025 and 2024. Realized losses on sales of marketable securities are recorded in other expense, net on the condensed consolidated statements of operations and comprehensive loss. Such losses were immaterial during the three months ended March 31, 2025 and 2024. There were no impairments of marketable securities during the three months ended March 31, 2025 or 2024.

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

Strategic investmentsStrategic investment activity during the three months ended March 31, 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— 550 550 Unrealized gain on strategic investments— 228 228 Impairment losses(452)— (452)Balance as of March 31, 2025$8,233 $6,