Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 156

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 156
---
 24% since September 30, 2024, as we continue to invest additional resources in customer support, implementation, and software development to grow our business, support our GTM operating model, and ensure that our customers are realizing the full benefit of our products.

41

Operating Expenses

Nine Months Ended September 30,Change20252024DollarPercent(dollars in thousands)Sales and marketing$424,871 $390,286 $34,585 9%

The increase in sales and marketing expenses during the nine months ended September 30, 2025 was primarily attributable to an increase of $32.6 million in personnel-related expenses, including increases of $26.4 million in salaries and wages and $6.6 million in stock-based compensation expense. The increase in sales and marketing expenses was also attributable to a $6.3 million increase in professional fees, including increases of $3.7 million for contractors to supplement our staff levels and $2.0 million for professional service fees; and a $2.5 million increase in travel-related costs. The increase in sales and marketing expenses was partially offset by a decrease of $4.5 million in marketing events and expenses. We increased our sales and marketing headcount by 4% since September 30, 2024 to support our GTM operating model.

Nine Months Ended September 30,Change20252024DollarPercent(dollars in thousands)Research and development$264,560 $223,698 $40,862 18%

The increase in research and development expenses during the nine months ended September 30, 2025 was primarily attributable to an increase of $33.8 million in personnel-related expenses, including increases of $22.5 million in salaries and wages and $10.9 million in stock-based compensation expense. The increase in research and development expenses was also attributable to a $5.5 million increase in computer software expenses, and a $2.4 million increase in acquisition-related expenses. The increases in research and development expenses were partially offset by a decrease of $2.6 million in professional service fees related to temporary contractor labor. We increased our research and development headcount by 27% since September 30, 2024 in order to continue to build, enhance, maintain, and scale our products, services, and platform as part of our global workforce strategy.

Nine Months Ended September 30,Change20252024DollarPercent(dollars in thousands)General and administrative$164,