Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 21

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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616 $(1,636)$(1,307,972)$1,224,023 

The accompanying notes are an integral part of these condensed consolidated financial statements.

6

Procore Technologies, Inc.

Condensed Consolidated Statements of Cash Flows (unaudited)Nine Months Ended September 30,(in thousands)20252024Operating activitiesNet loss$(63,179)$(43,665)Adjustments to reconcile net loss to net cash provided by operating activitiesStock-based compensation160,023 137,532 Depreciation and amortization83,288 65,127 Accretion of discounts on marketable debt securities, net(6,163)(10,131)Abandonment of long-lived assets2,868 818 Noncash operating lease expense4,311 7,906 Unrealized foreign currency (gain) loss, net(1,522)295 Deferred income taxes2,191 4 (Benefit from) provision for credit losses(1,084)648 Decrease (increase) in fair value of strategic investments237 (457)Changes in operating assets and liabilities, net of effect of asset acquisitions and business combinationsAccounts receivable42,611 34,296 Deferred contract cost assets(31,767)(3,217)Prepaid expenses and other assets(16,499)(12,121)Accounts payable(4,191)11,029 Accrued expenses and other liabilities30,168 (8,475)Deferred revenue(15,313)(6,268)Operating lease liabilities(651)(6,205)Net cash provided by operating activities185,328 167,116 Investing activitiesPurchases of property and equipment(12,400)(7,510)Capitalized software development costs(47,900)(32,453)Purchases of strategic investments, net(1,641)(1,917)Purchases of marketable securities(277,813)(410,619)Maturities of marketable securities287,024 371,718 Sales of marketable securities2,698 — Customer repayments of materials financing— 1,571 Business combinations, net of cash acquired(41,515)(25,945)Asset acquisitions, net of cash acquired(3,533)(3,792)Net cash used in investing activities(95,080)(108,947)Financing activitiesProceeds from stock option exercises8,779 12,371 Proceeds from