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Stock impact report

Procore targets $1.314B revenue for 2025 as new CEO takes helm amid margin expansion [Seeking Alpha]

Procore Technologies, Inc. (PCOR) 
Company Research Source: Seeking Alpha
CEO Craig Courtemanche stated that Q3 delivered "another strong quarter," highlighting 14.5% year-over-year revenue growth and a quarter-over-quarter increase in non-GAAP operating margin to 17%. Courtemanche announced the appointment of Ajei Gopal as Quick Insights Procore reported 14.5% year-over-year revenue growth, Q3 revenue of $339 million, and a quarter-over-quarter increase in non-GAAP operating margin to 17%, up from 13% in Q2. Management emphasized Ajei Gopal's experience in driving shareholder value and scaling global technology firms, expressing confidence in his leadership as a growth facilitator, with formal guidance to follow his onboarding. Management stated macro headwinds remain unchanged and the industry is in a 'down cycle,' but maintained confidence in product innovation, a resilient operating model, and reported no notable competitive challenges. Recommended For You More Trending News Show less Read more
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