Company: PCOR
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001611052-25-000007
Chunk: 113

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 113
---
 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.

Three Months Ended June 30,Change20252024DollarPercent(dollars in thousands)General and administrative$55,655 $50,792 $4,863 10%

The increase in general and administrative expenses during the three months ended June 30, 2025 was primarily attributable to an increase of $2.9 million in legal fees. The increase in general and administrative expenses was also attributable to a $1.7 million increase in personnel-related expenses for salaries and wages.   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 (Benefit from) provision for Income Taxes

Three Months Ended June 30,Change20252024DollarPercent(dollars in thousands)Interest income$5,015 $5,814 $(799)(14%)Interest expense298 472 (174)(37%)Accretion income, net2,027 3,761 (1,734)(46%)Other income (expense), net2,023 (148)2,171 *(Benefit from) provision for income taxes(411)490 (901)*

* Percentage not meaningful

During the three months ended June 30, 2025, accretion income, net decreased by $1.7 million due to a decrease both in our purchases of marketable securities and the balance of our marketable securities portfolio year-over-year.

During the three months ended June 30, 2025, other income (expense), net increased by $2.2 million primarily due to unrealized gains on foreign currency transactions.

39

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

Revenue

Six Months Ended June 30,Change20252024DollarPercent(dollars in thousands)Revenue$634,551 $553,775 $80,776 15%

During the six months ended June 30, 2025, our revenue increased by $80.8 million, or 15%, compared to the six months ended June 30, 2024, of which approximately 70% was attributable to revenue from