Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 50

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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30,Nine Months Ended September 30,2025202420252024RSUs and PSUs subject to future vesting7,603,1907,797,2637,647,9017,718,910Shares issuable pursuant to the ESPP252,012462,177468,028397,394Shares of common stock issuable from stock options2,638,7163,477,4292,855,4513,772,744Total10,493,91811,736,86910,971,38011,889,048

13.GEOGRAPHIC INFORMATION

The following table sets forth the Company’s revenues by geographic region, which is determined based on the billing location of the customer (in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Revenue by geographic region:U.S.$288,735 $251,806 $829,475 $724,273 Rest of the world50,116 44,079 143,927 125,387 Total revenue$338,851 $295,885 $973,402 $849,660 Percentage of revenue by geographic region:U.S.85%85%85%85%Rest of the world15%15%15%15%

14.RESTRUCTURING

In January 2024, the Company executed a reduction of 4% of its global workforce as part of its ongoing evaluation of its operations to ensure alignment of its workforce with, and to enable greater investment in, key growth opportunities. The reduction in force was completed by March 31, 2024. The following table summarizes the severance and other benefit costs incurred during the nine months ended September 30, 2024 by line item within the condensed consolidated statement of operations and comprehensive loss (in thousands) related to this restructuring event:Cost of revenue$318 Sales and marketing1,298 Research and development1,750 General and administrative819 Total restructuring-related costs$4,185 As of September 30, 2025, there was no liability remaining for restructuring-related costs.

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Table of ContentsProcore Technologies, Inc.Notes to Condensed Consolidated Financial Statements (unaudited)

15.SUBSEQUENT EVENTS

On November 3, 2025, the Board authorized a new stock repurchase program to repurchase up to $300.0 million of the Company’s outstanding common stock. The Company intends to opportunistically rep