Company: PCOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008121
Chunk: 98

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7
Chunk 98
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(1)(2)(3)(4)48 %52 %59 %Research and development(1)(2)(3)(4)27 %32 %38 %General and administrative(1)(3)(4)19 %21 %23 %Total operating expenses94 %104 %120 %Loss from operations(12 %)(23 %)(40 %)Interest income2 %2 %1 %Interest expense0 %0 %0 %Accretion income, net1 %1 %0 %Other expense, net0 %0 %0 %Loss before provision for income taxes(9 %)(20 %)(40 %)Provision for income taxes0 %0 %0 %Net loss(9 %)(20 %)(40 %)

55

(1)Includes stock-based compensation expense as follows:

Year Ended December 31,202420232022(in thousands)Cost of revenue$15,478 $11,491 $7,253 Sales and marketing58,058 55,162 53,397 Research and development67,961 68,275 63,262 General and administrative53,336 44,406 38,974 Total stock-based compensation expense*$194,833 $179,334 $162,886 

*Includes amortization of capitalized stock-based compensation of $8.0 million and $4.5 million, respectively, for the years ended December 31, 2024 and 2023, which was initially capitalized as capitalized software and cloud-computing arrangement implementation costs, and was primarily amortized in cost of revenue.

(2)Includes amortization of acquired intangible assets as follows: 

Year Ended December 31,202420232022(in thousands)Cost of revenue$25,437 $22,396 $22,428 Sales and marketing12,700 12,425 12,425 Research and development2,657 2,757 3,528 Total amortization of acquired intangible assets$40,794 $37,578 $38,381 

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

Year Ended December 31,202420232022(in thousands)Cost of revenue$612 $540 $308 Sales and marketing3,227 2,766 1,955