Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 160

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 160
---
-over-period and to those of peer companies. 

The following tables present reconciliations of our GAAP financial measures to our non-GAAP financial measures for the periods presented:

Reconciliation of gross profit and gross margin to non-GAAP gross profit and non-GAAP gross margin:

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(dollars in thousands)Revenue$338,851 $295,885 $973,402 $849,660 Gross profit270,089 240,931 771,982 700,882 Stock-based compensation expense6,155 4,188 17,291 11,056 Amortization of acquired technology intangible assets7,659 6,698 23,276 18,739 Employer payroll tax on employee stock transactions181 113 642 485 Non-GAAP gross profit$284,084 $251,930 $813,191 $731,162 Gross margin80%81%79%82%Non-GAAP gross margin84%85%84%86%

45

Reconciliation of operating expenses to non-GAAP operating expenses:

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(dollars in thousands)Revenue$338,851 $295,885 $973,402 $849,660 GAAP sales and marketing$144,290 $141,370 $424,871 $390,286 Stock-based compensation expense(16,658)(14,034)(49,197)(42,725)Amortization of acquired intangible assets(3,346)(3,224)(9,998)(9,475)Employer payroll tax on employee stock transactions(560)(815)(2,439)(2,867)Acquisition-related expenses(139)— (933)(1,448)Non-GAAP sales and marketing$123,587 $123,297 $362,304 $333,771 GAAP sales and marketing as a percentage of revenue43%48%44%46%Non-GAAP sales and marketing as a percentage of revenue36%42%37%39%GAAP research and development$88,049 $80,791 $264,560 $223,698 Stock-based compensation expense(20,969)(18,321)(60,630)(49,684)Amortization