Company: PCOR
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001611052-25-000007
Chunk: 115

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 115
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 in travel-related costs. We increased our sales and marketing headcount by 7% since June 30, 2024 to support our GTM operating model.

40

Six Months Ended June 30,Change20252024DollarPercent(dollars in thousands)Research and development$176,511 $142,907 $33,604 24%

The increase in research and development expenses during the six months ended June 30, 2025 was primarily attributable to an increase of $25.5 million in personnel-related expenses, including increases of $17.0 million in salaries and wages and $8.3 million in stock-based compensation expense. The increase in research and development expenses was also attributable to a $3.7 million increase in computer software expenses, a $2.4 million increase in professional fees for contractors to support our staff levels, and a $1.7 million increase in acquisition-related expenses. We increased our research and development headcount by 49% since June 30, 2024 in order to continue to build, enhance, maintain, and scale our products, services, and platform as part of our global workforce strategy.

Six Months Ended June 30,Change20252024DollarPercent(dollars in thousands)General and administrative$111,313 $101,810 $9,503 9%

The increase in general and administrative expenses during the six months ended June 30, 2025 was primarily due to an increase of $5.5 million in professional fees, including increases of $4.5 million for legal fees and $1.0 million for contractors to supplement our staff levels. The increase in general and administrative expenses was also attributable to a $3.4 million in personnel-related expenses, including increases of $3.2 million in salaries and wages and $0.4 million in stock-based compensation expense, as well as a $2.0 million increase in computer software expenses. The increases in general and administrative expenses were partially offset by a $3.0 million decrease in rent expense, primarily related to modifications of leases in the first quarter of 2025. We decreased our general and administrative headcount by 2% since June 30, 2024, as we continue to focus on operating efficiency.

Interest Income, Interest Expense, Accretion Income, Net, Other Income (Expense), Net, and Provision for Income Taxes

Six Months Ended June 30,Change20252024DollarPercent(dollars in thousands)Interest