Company: PCOR
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021898
Chunk: 83

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 83
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 2024, income tax (benefits) expenses recorded by the Company were $5.3 million and $0.3 million, respectively. As of March 31, 2025, the Company maintained a full valuation allowance on its U.S. federal and state net deferred tax assets as it was more likely than not that those deferred tax assets would not be realized.In determining quarterly provisions for income taxes, the Company uses the annual estimated effective tax rate applied to the actual year-to-date income or loss, adjusted for discrete items, if any, arising in that quarter. The Company’s annual estimated effective tax rate differs from the U.S. federal statutory rate of 21% primarily as a result of state taxes, foreign taxes, and changes in the Company’s valuation allowance.

12.NET LOSS PER SHARE

Basic and diluted net loss per share is presented in conformity with the two-class method required for participating securities. Basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. As the Company has reported net losses attributable to common stockholders for all periods presented, all potentially dilutive securities are anti-dilutive and accordingly, basic net loss per share attributable to common stockholders equals diluted net loss per share attributable to common stockholders.The following weighted-average potentially dilutive shares are excluded from the calculation of diluted earnings per share as they are anti-dilutive:Three Months Ended March 31,20252024RSUs and PSUs subject to future vesting6,944,6097,137,049Shares issuable pursuant to the ESPP589,773332,955Shares of common stock issuable from stock options3,086,1314,118,370Total10,620,51311,588,374

13.GEOGRAPHIC INFORMATION

The following table sets forth the Company’s revenues by geographic region, which is determined based on the billing location of the customer (in thousands):Three Months Ended March 31,20252024Revenue by geographic region:U.S.$264,597 $230,433 Rest of the world46,035 38,995 Total revenue$310,632 $269,428 Percentage of revenue by geographic region:U.S.85 %86 %Rest of the world15 %14 %

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

14.RESTRUCT