Company: PCOR
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021898
Chunk: 121

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 121
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)(4 %)Provision for income taxes2 %0 %Net loss(11 %)(4 %)

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(1)Includes stock-based compensation expense and amortization of capitalized stock-based compensation as follows:

Three Months Ended March 31,20252024(in thousands)Cost of revenue$5,268 $3,185 Sales and marketing14,950 13,020 Research and development18,424 13,735 General and administrative12,382 11,729 Total stock-based compensation expense*$51,024 $41,669 

*Includes amortization of capitalized stock-based compensation of $2.7 million and $1.5 million, respectively, for the three months ended March 31, 2025 and 2024 which was initially capitalized as capitalized software and cloud-computing arrangement implementation costs.

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

Three Months Ended March 31,20252024(in thousands)Cost of revenue$7,602 $5,885 Sales and marketing3,305 3,106 Research and development632 675 Total amortization of acquired intangible assets$11,539 $9,666 

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

Three Months Ended March 31,20252024(in thousands)Cost of revenue$261 $212 Sales and marketing1,131 1,264 Research and development1,726 1,668 General and administrative883 1,045 Total employer payroll tax on employee stock transactions$4,001 $4,189 

(4)Includes acquisition-related expenses as follows:

Three Months Ended March 31,20252024(in thousands)Sales and marketing$656 $448 Research and development1,049 — General and administrative$375 $— Total acquisition-related expenses$2,080 $448 

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Comparison of the Three Months Ended March 31, 2025 and 2024

Revenue

Three Months Ended March 31,Change20252024DollarPercent(dollars in thousands)Revenue$310,632 $269,428 $41,204 15 %

During the three months ended March 31, 2025, our revenue increased by $41.2 million, or 15%, compared to the three months ended March 31, 2024, of which approximately 83% was