Company: PCOR
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001611052-25-000007
Chunk: 29

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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.5 million, or approximately 65%, as revenue in the next 12 months, and substantially all of the remaining $464.3 million between 12 and 36 months thereafter.Recently issued accounting pronouncements - not yet adoptedImprovements to Income Tax DisclosureIn December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures (“ASU 2023-09”). The new amendment enhances transparency and usefulness of income tax disclosures by expanding disclosures in an entity’s income tax rate reconciliation table and income taxes paid. ASU 2023-09 is effective for public business entities for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is evaluating the impact the adoption of ASU 2023-09 will have on its consolidated financial statements and disclosures in its annual report for fiscal year 2025.

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

3.INVESTMENTS

Marketable securitiesMarketable securities consisted of the following as of June 30, 2025 (in thousands):Amortized CostGrossUnrealizedGainsGrossUnrealizedLossesFair ValueU.S. treasury securities$135,688 $99 $(23)$135,764 Commercial paper5,271 — (1)5,270 Corporate notes and obligations241,226 280 (53)241,453 Total marketable securities$382,185 $379 $(77)$382,487 Marketable securities consisted of the following as of December 31, 2024 (in thousands):Amortized CostGrossUnrealizedGainsGrossUnrealizedLossesFair ValueU.S. treasury securities$126,916 $142 $(13)$127,045 Commercial paper18,414 19 — 18,433 Corporate notes and obligations237,965 339 (67)238,237 Total marketable securities$383,295 $500 $(80)$383,715 The following table summarizes the estimated fair value of investments classified as marketable securities by contractual maturity date (in thousands):June 30,2025December 31,2024Due within 1 year$296,618 $337,673 Due in 1 to 2 years85,869 46,