Procore Beats Q1 2026 Estimates, Raises Full-Year Outlook on AI and Cash Flow Growth
Event summary
- Procore reported Q1 2026 revenue of $359 million, up 16% YoY, exceeding guidance.
- Non-GAAP operating margin improved to 17% from (4%) GAAP, driven by cost discipline.
- Free cash flow rose 20% YoY to $56 million, with full-year guidance at 19% margin.
- Customer count with >$100K ARR grew 16% YoY to 2,795, with 95% gross revenue retention.
- Procore repurchased $100 million in shares and integrated with NVIDIA Omniverse for AI.
The big picture
Procore’s Q1 2026 results highlight its pivot to profitability, with AI and cash flow as strategic levers. The construction tech sector is increasingly prioritizing digitization, and Procore’s 16% YoY revenue growth positions it as a leader. The integration with NVIDIA signals a broader industry shift toward AI-driven project management, while share repurchases reflect confidence in long-term cash generation.
What we're watching
- AI Execution
- How Procore’s NVIDIA Omniverse integration will accelerate AI adoption in construction.
- Cash Flow Sustainability
- Whether Procore can maintain 19% free cash flow margin amid growth investments.
- Customer Expansion
- The pace at which Procore scales high-value customers (>$100K ARR) to drive retention.
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