Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 161

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 161
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 of acquired intangible assets(661)(668)(1,951)(2,008)Employer payroll tax on employee stock transactions(629)(521)(3,458)(3,089)Acquisition-related expenses(695)— (2,439)— Non-GAAP research and development$65,095 $61,281 $196,082 $168,917 GAAP research and development as a percentage of revenue26%27%27%26%Non-GAAP research and development as a percentage of revenue19%21%20%20%GAAP general and administrative$52,780 $55,267 $164,093 $157,077 Stock-based compensation expense(15,491)(13,912)(41,591)(39,602)Employer payroll tax on employee stock transactions(294)(281)(1,639)(1,820)Acquisition-related expenses(238)(51)(779)(614)Non-GAAP general and administrative$36,757 $41,023 $120,084 $115,041 GAAP general and administrative as a percentage of revenue16%19%17%18%Non-GAAP general and administrative as a percentage of revenue11%14%12%14%

46

Reconciliation of loss from operations and operating margin to non-GAAP income from operations and non-GAAP operating margin:

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(dollars in thousands)Revenue$338,851 $295,885 $973,402 $849,660 Loss from operations(15,030)(36,497)(81,542)(70,179)Stock-based compensation expense59,273 50,455 168,709 143,067 Amortization of acquired intangible assets11,666 10,590 35,225 30,222 Employer payroll tax on employee stock transactions1,664 1,730 8,178 8,261 Acquisition-related expenses1,072 51 4,151 2,062 Non-GAAP income from operations$58,645 $26,329 $134,721 $113,433 Operating margin(4%)(12%)(8%)(8%)Non-GAAP operating margin17%9%14%13%

47

Liquidity and Capital Resources

As of September 30, 2025, our principal sources