Procore Achieves GAAP Profitability in Q2 2026 Amid 16% Revenue Growth
Event summary
- Procore reported $375 million in revenue for Q2 2026, up 16% year-over-year.
- Achieved GAAP operating margin of 1% and non-GAAP operating margin of 21%.
- Free cash flow increased by 507% year-over-year to $65 million.
- Gross revenue retention rate was 95%, with 2,871 customers contributing over $100,000 in annual recurring revenue.
The big picture
Procore's Q2 2026 results highlight its transition to profitability, a critical milestone for a SaaS company in the construction technology sector. The strong revenue growth and free cash flow generation underscore the industry's increasing adoption of digital solutions. Procore's strategic focus on AI and data-driven insights positions it well to capitalize on broader trends towards digitization in construction management.
What we're watching
- Sustainable Profitability
- Whether Procore can maintain its GAAP profitability amid continued investment in growth initiatives.
- Customer Retention
- The pace at which Procore can increase its gross revenue retention rate to drive long-term value.
- Market Expansion
- How Procore's new portfolio management and capital planning capabilities will impact its market position.
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