Company: PCOR
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001611052-25-000007
Chunk: 21

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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 Issuance of common stock upon settlement of restricted stock units865,285— — — — — Issuance of common stock for employee stock purchase plan245,276— 14,404 — — 14,404 Shares withheld related to net share settlement of equity awards(313,050)(21,577)— — (21,577)Repurchase and retirement of common stock, including transaction costs and excise tax(48,503)(2,721)— — (2,721)Other comprehensive income—— — 1,066 — 1,066 Net loss—— — (21,089)(21,089)Balance as of June 30, 2025150,189,021$15 $2,517,880 $(1,425)$(1,298,871)$1,217,599 

The accompanying notes are an integral part of these condensed consolidated financial statements.

6

Procore Technologies, Inc.

Condensed Consolidated Statements of Cash Flows (unaudited)Six Months Ended June 30,(in thousands)20252024Operating activitiesNet loss$(54,078)$(17,277)Adjustments to reconcile net loss to net cash provided by operating activitiesStock-based compensation103,870 89,357 Depreciation and amortization54,092 40,894 Accretion of discounts on marketable debt securities, net(4,295)(6,749)Abandonment of long-lived assets2,455 580 Noncash operating lease expense2,929 4,993 Unrealized foreign currency (gain) loss, net(2,150)714 Deferred income taxes1,568 2 (Benefit from) provision for credit losses(966)405 Decrease (increase) in fair value of strategic investments183 (641)Changes in operating assets and liabilities, net of effect of asset acquisitions and business combinationsAccounts receivable54,618 48,994 Deferred contract cost assets(20,175)(2,089)Prepaid expenses and other assets(9,236)(190)Accounts payable(12,973)13,279 Accrued expenses and other liabilities11,632 (30,447)Deferred revenue(28,309)(10,877)Operating lease liabilities(2,309)(3,108)Net cash provided by operating activities96,856 127,840 Investing