Company: PCOR
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001611052-25-000007
Chunk: 47

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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ix Months Ended June 30,2025202420252024RSUs and PSUs subject to future vesting8,267,2868,218,4817,639,1557,678,211Shares issuable pursuant to the ESPP443,577377,765443,948355,420Shares of common stock issuable from stock options2,799,7233,725,6812,883,3463,922,024Total11,510,58612,321,92710,966,44911,955,655

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 June 30,Six Months Ended June 30,2025202420252024Revenue by geographic region:U.S.$276,144 $242,034 $540,741 $472,467 Rest of the world47,775 42,313 93,810 81,308 Total revenue$323,919 $284,347 $634,551 $553,775 Percentage of revenue by geographic region:U.S.85%85%85%85%Rest of the world15%15%15%15%

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

14.RESTRUCTURING

In January 2024, the Company executed a reduction of 4% of its global workforce as part of its ongoing evaluation of its operations to ensure alignment of its workforce with, and to enable greater investment in, key growth opportunities. The reduction in force was completed by March 31, 2024. The following table summarizes the severance and other benefit costs incurred during the six months ended June 30, 2024 by line item within the condensed consolidated statement of operations and comprehensive loss (in thousands) related to this restructuring event:Cost of revenue$318 Sales and marketing1,298 Research and development1,750 General and administrative819 Total restructuring-related costs$4,185 As of June 30, 2025, there was no liability remaining for restructuring-related costs.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

You should read the following discussion and analysis of our financial condition and results of operations in conjunction with our condensed consolidated financial statements and the related notes and other financial information included