Company: PCOR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050149
Chunk: 30

Company: PROCORE TECHNOLOGIES, INC.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 remaining $498.3 million between 12 and 36 months thereafter.Recently issued accounting pronouncements - not yet adoptedImprovements to Income Tax DisclosuresIn 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 will adopt ASU 2023-09 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, which will result in additional disclosure in the notes to the consolidated financial statements.  Improvements to Accounting for Internal-Use Software In September 2025, the FASB issued ASU No. 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (“ASU 2025-06”). The new amendment modernizes the accounting for software costs by changing the timing of when an entity is required to start capitalizing software projects and requiring entities to evaluate the uncertainties associated with software development activities. ASU 2025-06 is effective for public business entities for fiscal years beginning after December 15, 2027, and interim periods within those annual reporting periods, with early adoption permitted as of the beginning of an annual reporting period. The Company is evaluating the impact the adoption of ASU 2025-06 will have on its consolidated financial statements and disclosures.

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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 September 30, 2025 (in thousands):Amortized CostGrossUnrealizedGainsGrossUnrealizedLossesFair ValueU.S. treasury securities$136,831 $186 $(10)$137,007 Commercial paper7,573 1 — 7,574 Corporate notes and obligations232,620 268 (23)232,865 Total marketable securities$377,024 $455 $(33)$377,446 Marketable securities consisted of the following as of December 31, 2024 (in