Company: PCOR
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001611052-25-000007
Chunk: 17

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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Item 1. Financial Statements

Procore Technologies, Inc.

Condensed Consolidated Balance Sheets (unaudited)

(in thousands, except number of shares and par value)June 30,2025December 31,2024AssetsCurrent assetsCash and cash equivalents$324,262 $437,722 Marketable securities, current (amortized cost of $296,316 and $337,253 at June 30, 2025 and December 31, 2024, respectively)296,618 337,673 Accounts receivable, net of allowance for credit losses of $3,595 and $6,109 at June 30, 2025 and December 31, 2024, respectively194,103 246,472 Contract cost asset, current43,439 33,922 Prepaid expenses and other current assets54,098 44,090 Total current assets912,520 1,099,879 Marketable securities, non-current (amortized cost of $85,869 and $46,042 at June 30, 2025 and December 31, 2024, respectively)85,869 46,042 Capitalized software development costs, net127,755 112,321 Property and equipment, net44,023 43,592 Right of use assets - finance leases20,521 31,727 Right of use assets - operating leases33,093 28,790 Contract cost asset, non-current59,033 47,505 Intangible assets, net125,974 120,946 Goodwill574,105 549,651 Other assets21,208 20,918 Total assets$2,004,101 $2,101,371 Liabilities and Stockholders’ EquityCurrent liabilitiesAccounts payable$20,159 $33,146 Accrued expenses97,561 88,740 Deferred revenue, current560,598 584,719 Other current liabilities27,565 21,427 Total current liabilities705,883 728,032 Deferred revenue, non-current4,467 5,815 Finance lease liabilities, non-current27,455 41,352 Operating lease liabilities, non-current37,678 32,697 Other liabilities, non-current11,019 5,122 Total liabilities786,502 813,018 Commitments and contingencies (Note 9)Stockholders’ equity