Company: PCOR
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001611052-25-000007
Chunk: 111

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 111
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558 $19,632 

(3)Includes employer payroll tax on employee stock transactions as follows:

Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)Cost of revenue$200 $161 $461 $373 Sales and marketing748 788 1,879 2,052 Research and development1,103 900 2,829 2,568 General and administrative462 494 1,345 1,539 Total employer payroll tax on employee stock transactions$2,513 $2,343 $6,514 $6,532 

(4)Includes acquisition-related expenses as follows:

Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)Sales and marketing$138 $1,000 $794 $1,448 Research and development695 — 1,744 — General and administrative$166 563 $541 563 Total acquisition-related expenses$999 $1,563 $3,079 $2,011 

37

Comparison of the Three Months Ended June 30, 2025 and 2024

Revenue

Three Months Ended June 30,Change20252024DollarPercent(dollars in thousands)Revenue$323,919 $284,347 $39,572 14%

During the three months ended June 30, 2025, our revenue increased by $39.6 million, or 14%, compared to the three months ended June 30, 2024, of which approximately 82% was attributable to revenue from existing customers and approximately 18% was attributable to revenue from new customers acquired during the three months ended June 30, 2025. The increase in revenue from existing customers includes the net benefit of a full quarter of subscription revenue in the second quarter of 2025 from customers that were newly acquired or expanded their subscriptions between the second quarter of 2024 and the first quarter of 2025 and continued or expanded their subscriptions, as applicable, in the second quarter of 2025.

Cost of Revenue, Gross Profit, and Gross Margin

Three Months Ended June 30,Change20252024DollarPercent(dollars in thousands)Cost of revenue$67,732 $48,101 $19,631 41%Gross profit256,187 236,246 19,