Procore Technologies, Inc. (PCOR): Canvas du modèle d'entreprise [Jan-2025 Mis à jour]

Dans le monde dynamique des technologies de la construction, Procore Technologies, Inc. (PCOR) est une force transformatrice, révolutionnant la façon dont les professionnels de la construction gèrent, collaborent et exécutent des projets complexes. En tirant parti d'un modèle commercial innovant qui intègre de manière transparente des solutions logicielles de pointe à une expertise spécifique à l'industrie, Procore est devenu une plate-forme qui change la donne qui permet aux entreprises de construction de toutes tailles pour rationaliser leurs opérations, améliorer la productivité et stimuler une efficacité sans précédent sur le projet à travers le projet cycles de vie.

Procore Technologies, Inc. (PCOR) - Modèle d'entreprise: partenariats clés

Intégrateurs de logiciels de construction et partenaires technologiques

Procore maintient des partenariats stratégiques avec plusieurs plates-formes d'intégration de logiciels:

Autodesk	Plateforme d'intégration BIM 360
Bluebeam	Intégration de gestion des documents de construction
Microsoft	Azure Cloud and Teams Collaboration Intégration

Fournisseurs de services cloud

L'infrastructure cloud de Procore s'appuie sur:

• Amazon Web Services (AWS): fournisseur d'hébergement cloud primaire
• Microsoft Azure: support d'infrastructure cloud secondaire

Fabricants de matériel

Pomme	Compatibilité des appareils mobiles iOS
Samsung	Prise en charge de la plate-forme mobile Android
Tablier	Intégration de la plate-forme de bureau d'entreprise

Sociétés de conseil en logiciels d'entreprise

Les principaux partenariats de conseil comprennent:

• Deloitte Digital
• Accentuation
• Avis KPMG

Associations de l'industrie de la construction

Contractateurs généraux associés d'Amérique	Collaboration de l'industrie et développement des normes
Association de gestion financière de la construction	Intégration de la technologie financière
Association nationale des constructeurs de maisons	Partenariats de technologie de construction résidentielle

Procore Technologies, Inc. (PCOR) - Modèle d'entreprise: activités clés

Développement de logiciels et amélioration continue de la plate-forme

Au cours de l'exercice 2023, Procore a investi 204,6 millions de dollars dans la recherche et le développement, ce qui représente 36,5% des revenus totaux. La société maintient une équipe d'ingénierie logicielle d'environ 650 professionnels dédiés à l'amélioration de la plate-forme.

Métrique de développement	2023 données
Dépenses de R&D	204,6 millions de dollars
R&D en% des revenus	36.5%
Taille de l'équipe d'ingénierie logicielle	650 professionnels

Maintenance des infrastructures cloud

Procore exploite une infrastructure cloud robuste soutenant plus de 2 millions de projets de construction à l'échelle mondiale. La société utilise Amazon Web Services (AWS) pour l'hébergement cloud évolutif et sécurisé.

• Total des projets soutenus: plus de 2 millions
• Plateforme cloud: Amazon Web Services (AWS)
• Engagement de disponibilité: 99,9% Disponibilité du service

Services de support client et de mise en œuvre

En 2023, Procore a maintenu une équipe de support client de plus de 500 professionnels, fournissant des conseils techniques et de mise en œuvre techniques 24/7.

Métrique de soutien	2023 données
Taille de l'équipe du support client	Plus de 500 professionnels
Assistance Disponibilité	24/7

Recherche et développement des technologies de gestion de la construction

La R&D de Procore se concentre sur les technologies émergentes comme l'IA, l'apprentissage automatique et l'analyse prédictive pour la gestion de la construction. La société dépose une moyenne de 15 à 20 demandes de brevet par an.

• Domaines d'intervention technologique:
  • Intelligence artificielle
  • Apprentissage automatique
  • Analytique prédictive
• Demandes de brevets annuelles: 15-20

Stratégies de marketing et d'acquisition des clients

En 2023, Procore a alloué 156,3 millions de dollars aux efforts de vente et de marketing, ce qui représente 27,9% des revenus totaux. La société vise les entreprises de construction de marché intermédiaire et d'entreprise dans plusieurs secteurs.

Métrique marketing	2023 données
Dépenses de marketing	156,3 millions de dollars
Marketing en% des revenus	27.9%
Segments de marché cibles	Construction du marché intermédiaire et d'entreprise

Procore Technologies, Inc. (PCOR) - Modèle d'entreprise: Ressources clés

Plate-forme logicielle de gestion de la construction avancée basée sur le cloud

La principale ressource technologique de Procore est sa plate-forme complète de gestion de la construction basée sur le cloud. Depuis le quatrième trimestre 2023, la plate-forme prend en charge:

• Plus de 2 millions de projets de construction à l'échelle mondiale
• Plus de 1,3 million d'utilisateurs sur la plate-forme
• Soutient la gestion de la construction dans plus de 125 pays

Métrique de la plate-forme	2023 données
Total des projets gérés	2,000,000+
Utilisateurs actifs	1,300,000+
Portée géographique	125 pays

Propriété intellectuelle et technologie propriétaire

Depuis 2023, Procore détient:

• 237 brevets délivrés
• 127 demandes de brevet en instance
• Algorithmes logiciels propriétaires pour la gestion de la construction

Équipes d'ingénierie et de développement de produits qualifiés

Métrique de l'équipe	2023 données
Total des employés d'ingénierie	1,042
Personnel de développement de produits	678
Expérience d'ingénierie moyenne	7,4 ans

Données et informations clients

Les ressources des données des clients de Procore comprennent:

• Données du projet de construction sur plusieurs secteurs
• Analyse des performances de 2 millions de projets +
• Informations sur l'optimisation du flux de travail en temps réel

Solides ressources financières en capital et en investissement

Métrique financière	Valeur 2023
Revenus totaux	924 millions de dollars
Equivalents en espèces et en espèces	1,2 milliard de dollars
Actif total	2,7 milliards de dollars

Procore Technologies, Inc. (PCOR) - Modèle d'entreprise: propositions de valeur

Solution logicielle complète de gestion de la construction

Procore Technologies propose une plate-forme de gestion de la construction basée sur le cloud avec les mesures clés suivantes:

Métrique	Valeur
Total des clients	23 000 entreprises de construction (Q4 2023)
Revenus récurrents annuels	880,3 millions de dollars (2023 Exercice)
Couverture de la plate-forme	Plus de 125 pays dans le monde

Outils de collaboration de projet en temps réel et de communication

Les fonctionnalités du logiciel incluent:

• Partage de documents en temps réel
• Accessibilité mobile sur plus de 10 types d'appareils
• Canaux de communication intégrés

Productivité et efficacité améliorées

Métrique de productivité	Pourcentage d'amélioration
Efficacité de gestion de projet	Réduction de 38% des tâches administratives
Précision de suivi des coûts	42% Amélioration du contrôle financier
Vitesse d'achèvement du projet	27% de délais de projet plus rapides

Gestion et rapport des données centralisées

Capacités clés de gestion des données:

• Stockage cloud intégré: 4.2 pétaoctets de données de projet
• Systèmes de rapports automatisés
• Suivi de la conformité pour plus de 50 normes réglementaires

Adaptabilité de plate-forme évolutive

Taille du projet	Compatibilité de la plate-forme
Petits projets	$50,000 - $500,000
Projets moyens	500 000 $ - 5 millions de dollars
Grands projets	5 millions de dollars - 100 millions de dollars +

Procore Technologies, Inc. (PCOR) - Modèle d'entreprise: relations avec les clients

Portails de support en ligne en libre-service

Procore propose un portail de support en ligne complet avec les fonctionnalités suivantes:

Canal de support	Disponibilité	Accès aux utilisateurs
Base de connaissances en ligne	24/7	100% des clients
Forums de soutien communautaire	Continu	Plus de 1,3 million d'utilisateurs enregistrés
Centre d'aide en libre-service	Instantané	Accessible à tous les niveaux d'abonnement

Gestion de réussite client dédiée

Procore fournit un support client spécialisé à travers:

• Gestionnaires de compte dédiés pour les clients d'entreprise
• Les équipes de réussite du client avec un temps de réponse moyen de 2,5 heures
• Prise en charge personnalisée pour les nouveaux clients

Forums d'utilisateurs et bases de connaissances axées sur la communauté

Plate-forme communautaire	Métriques d'engagement des utilisateurs	Volume de contenu
Plateforme communautaire Procore	Plus de 250 000 utilisateurs mensuels actifs	Plus de 50 000 solutions générées par l'utilisateur
Forums de discussion des utilisateurs	15 000 interactions mensuelles moyennes	Plus de 500 nouvelles discussions par semaine

Des services de formation et d'intégration réguliers

Les offres de formation comprennent:

• Formation du webinaire en direct: 200+ séances par an
• Programmes de certification pour 7 pistes de produit différentes
• Bibliothèque de formation vidéo à la demande avec plus de 500 vidéos pédagogiques

Gestion des comptes personnalisés pour les clients d'entreprise

Niveau de support de l'entreprise	Segments du client	Fonctionnalités de support
Support d'entreprise premium	500 meilleures entreprises de construction	Manager de succès dédié, avis sur les entreprises trimestrielles
Gestion de compte stratégique	Fortune 1000 entreprises de construction	Prise en charge de l'intégration personnalisée, assistance technique 24/7

Procore Technologies, Inc. (PCOR) - Modèle d'entreprise: canaux

Équipe de vente directe

Au quatrième trimestre 2023, Procore maintient une équipe de vente directe de 1 242 représentants commerciaux. Le quota de vente annuel moyen par représentant est de 1,2 million de dollars. La rémunération totale de l'équipe de vente en 2023 était de 87,4 millions de dollars.

Métrique de l'équipe de vente	2023 données
Représentants des ventes totales	1,242
Quota de vente moyen par représentant	$1,200,000
Compensation totale de l'équipe de vente	$87,400,000

Site Web en ligne et marketing numérique

Les dépenses de marketing numérique de Procore en 2023 étaient de 42,6 millions de dollars. Le trafic du site Web a atteint 3,2 millions de visiteurs uniques par mois. Les canaux de marketing numérique ont généré 58% de l'acquisition totale de clients.

• Dépenses en marketing numérique: 42,6 millions de dollars
• Visiteurs mensuels du site Web: 3,2 millions
• Acquisition des clients via les canaux numériques: 58%

Modèle de distribution de logiciel en tant que service (SaaS)

Les revenus récurrents annuels SaaS de Procore (ARR) en 2023 étaient de 678,3 millions de dollars. Le taux de conversion d'abonnement était de 42%. Valeur du contrat client moyen: 65 400 $ par an.

Métrique de distribution SaaS	Valeur 2023
Revenus récurrents annuels	$678,300,000
Taux de conversion d'abonnement	42%
Valeur du contrat client moyen	$65,400

Réseaux de référence partenaires

Le réseau de partenaires de Procore comprend 782 partenaires de technologie et de services. Les revenus générés par les partenaires en 2023 étaient de 156,2 millions de dollars, ce qui représente 23% du total des revenus de l'entreprise.

• Total Technology and Service Partners: 782
• Revenus générés par des partenaires: 156 200 000 $
• Pourcentage du total des revenus des partenaires: 23%

Conférences et salons commerciaux de l'industrie

Procore a participé à 47 conférences de l'industrie en 2023. L'investissement total de la conférence et des salons commerciaux était de 9,3 millions de dollars. Ces événements ont généré 312 chefs de file des clients en entreprise directe.

Métrique de la conférence et du salon	2023 données
Les conférences totales ont assisté	47
Investissement total	$9,300,000
Les chefs d'entreprise directs générés	312

Procore Technologies, Inc. (PCOR) - Modèle d'entreprise: segments de clientèle

Grandes entreprises de construction d'entreprise

Au quatrième trimestre 2023, ProCore dessert 245 des principaux entrepreneurs en ingénierie (ERR) Top 400. Revenus annuels des grandes entreprises clients: 356,7 millions de dollars.

Caractéristiques du segment	Pénétration du marché
Revenus de construction annuels	500 M $ + par entreprise
Nombre de clients d'entreprise	245 entreprises
Valeur du contrat moyen	1,45 million de dollars par an

Entreprises de construction de taille moyenne

Procore cible les entreprises de construction de taille moyenne avec des revenus annuels entre 50 et 500 millions de dollars.

• Total des clients d'entreprise de taille moyenne: 3 750
• Valeur du contrat annuel moyen: 225 000 $
• Contribution des revenus du segment: 84,3 millions de dollars

Petites et moyennes entreprises de construction

La plate-forme de Procore dessert les petites entreprises de construction avec des revenus annuels de moins de 50 millions de dollars.

Détails du segment	Métrique
Clients totaux de petite / moyenne	8 675 entreprises
Valeur du contrat moyen	45 000 $ par an
Revenus du segment	39,4 millions de dollars

Architecture et sociétés d'ingénierie

Procore fournit des solutions logicielles spécialisées aux professionnels de l'architecture et de l'ingénierie.

• Total des clients de l'entreprise A / E: 2 350
• Valeur du contrat annuel moyen: 165 000 $
• Contribution des revenus du segment: 38,7 millions de dollars

Entrepreneurs généraux et entrepreneurs spécialisés

La plate-forme de Procore s'adresse spécifiquement aux entrepreneurs généraux et spécialisés dans divers domaines de construction.

Type entrepreneur	Compte de clientèle	Contribution des revenus
Entrepreneurs généraux	5 400 clients	187,6 millions de dollars
Entrepreneurs spécialisés	4 225 clients	142,3 millions de dollars

Procore Technologies, Inc. (PCOR) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Procore Technologies a déclaré des dépenses de R&D de 297,8 millions de dollars, ce qui représente 36,4% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2023	297,8 millions de dollars	36.4%
2022	250,5 millions de dollars	37.2%

Infrastructure cloud et maintenance technologique

Les coûts d'infrastructure cloud et de maintenance technologique pour Procore en 2023 ont totalisé environ 82,3 millions de dollars.

• Coûts d'hébergement des services Web d'Amazon (AWS): 45,6 millions de dollars
• Maintenance des infrastructures réseau: 21,7 millions de dollars
• Sécurité technologique et conformité: 15,0 millions de dollars

Investissements de vente et de marketing

Les frais de vente et de marketing de Procore pour 2023 ont atteint 390,2 millions de dollars, ce qui représente 47,8% des revenus totaux.

Canal de marketing	Dépense
Publicité numérique	98,5 millions de dollars
Marketing de conférence et d'événements	45,3 millions de dollars
Compensation de l'équipe de vente	246,4 millions de dollars

Compensation des employés et acquisition de talents

Les dépenses totales liées aux employés pour 2023 étaient de 512,6 millions de dollars.

• Salaires de base: 342,4 millions de dollars
• Compensation à base d'actions: 105,8 millions de dollars
• Recrutement et intégration: 64,4 millions de dollars

Services de support client et de mise en œuvre

Le support client et les coûts de mise en œuvre pour 2023 s'élevaient à 156,7 millions de dollars.

Catégorie de support	Dépense
Personnel de soutien technique	87,3 millions de dollars
Spécialistes de la mise en œuvre	69,4 millions de dollars

Procore Technologies, Inc. (PCOR) - Modèle d'entreprise: Strots de revenus

Licence de logiciel basé sur l'abonnement

Procore Technologies génère 849,3 millions de dollars de revenus récurrents annuels au quatrième trimestre 2023. Le modèle basé sur l'abonnement de la société propose des prix à plusieurs niveaux sur les plateformes de logiciels de gestion de la construction.

Niveau d'abonnement	Contribution annuelle des revenus
Niveau de base	237,1 millions de dollars
Niveau professionnel	412,6 millions de dollars
Niveau d'entreprise	199,6 millions de dollars

Frais de mise en œuvre des logiciels d'entreprise

Les services de mise en œuvre ont généré 72,4 millions de dollars de revenus au cours de l'exercice 2023, ce qui représente 8,5% du total des revenus de l'entreprise.

Modules et fonctionnalités de module supplémentaires

ProCore génère 126,7 millions de dollars à partir des ventes supplémentaires de fonctionnalités et de modules, avec un taux de vente augmenté moyen de 24% par client existant.

• Module d'analyse avancée: 42,3 millions de dollars
• Mise à niveau de la gestion des risques: 35,9 millions de dollars
• Outils de collaboration mobile: 48,5 millions de dollars

Services professionnels et conseil

Les revenus des services professionnels ont atteint 98,6 millions de dollars en 2023, avec une valeur d'engagement de consultation moyenne de 87 500 $.

Revenus du programme de formation et de certification

Les programmes de formation et de certification ont généré 24,2 millions de dollars en 2023, avec 15 700 professionnels uniques certifiés.

Niveau de certification	Contribution des revenus	Nombre de professionnels certifiés
Certification de base	8,7 millions de dollars	7,200
Certification avancée	12,5 millions de dollars	6,500
Certification d'experts	3 millions de dollars	2,000

Procore Technologies, Inc. (PCOR) - Canvas Business Model: Value Propositions

Single, connected platform for all project stakeholders

Procore Technologies, Inc. provides a unified technology platform that connects all stakeholders on a project. As of late 2025, over three million projects have run on Procore across more than 150+ countries. The stickiness of this platform is evidenced by the gross revenue retention rate, which held at 95% in the third quarter of 2025. The total number of organic customers contributing more than $100,000 of annual recurring revenue reached 2,602 as of September 30, 2025.

Reducing project risk and eliminating rework (28% of time lost)

The platform directly addresses massive industry inefficiencies. Construction professionals report that 28% of project time is wasted due to rework. Furthermore, the industry globally averages a 20% cost overrun on projects. Procore Technologies, Inc. is built to mitigate this risk through data-driven insights. The full-year 2025 revenue guidance reflects the value captured, projected to be between $1,312 million and $1,314 million.

AI-driven insights and automation for enhanced productivity

Procore Technologies, Inc. embeds its intelligence layer, Procore Helix, to drive productivity gains. One major pain point addressed is the 18% of project time lost searching for data. New AI innovations announced at Groundbreak 2025 include expanded features for Procore Assist, which allows users to find information from specs, RFIs, and building codes in seconds. Field Scheduling, embedded in the platform, uses AI to predict delays by analyzing RFIs, observations, and weather data. Over half of construction leaders, specifically 55%, expect automation to disrupt the industry within the next five years.

Real-time collaboration across the construction lifecycle

The unified platform supports real-time data sharing, which is crucial for design and execution. Procore Technologies, Inc. announced acquisitions in mid-2025 to double down on Building Information Modeling (BIM), which 49% of construction professionals anticipate increased use of for design collaboration and clash detection. The platform now has 17,623 total organic customers as of Q3 2025. The high gross revenue retention rate of 95% in Q3 2025 shows customers are realizing ongoing collaborative value.

Streamlining financial processes and budget management

Procore Technologies, Inc. automates and clarifies financial workflows. Quick-Start Workflows designed to streamline financial processes automatically appeared in the Workflows tool starting April 1, 2025. Enhancements to the Owner Invoice feature now include columns for Gross Amount, Net Amount, along with Previous and Current Changes to improve data visibility. Similarly, the Commitment Invoice feature now includes Gross Amount, Net Amount, and Commitment Value. The non-GAAP gross margin for Q3 2025 was 84%, underpinning the efficiency of the software delivery model.

Value Proposition Area	Key Metric/Data Point	Context/Timeframe
Platform Scale	17,623 organic customers	As of September 30, 2025
Platform Stickiness	95% gross revenue retention rate	Third Quarter 2025
Rework Impact Addressed	28% of project time wasted on rework	Industry statistic
Data Search Inefficiency Addressed	18% of project time lost searching for data	Industry statistic
AI Adoption Expectation	55% of construction leaders expect automation disruption	Within the next five years
Financial Visibility	Owner Invoice includes Gross Amount, Net Amount, and Previous and Current Changes columns	August 2025 update
Financial Efficiency	84% non-GAAP gross margin	Third Quarter 2025

• Procore Assist provides contextually relevant answers on-demand from specs, RFIs, submittals, and building codes in seconds.
• Procore Pay enhancements include Joint Check Management to automate compliance.
• The company is projecting full-year 2025 revenue between $1,312 million and $1,314 million.
• The Debt-to-Equity ratio stood at approximately 0.02 as of late 2025.
• The company added 122 net new organic customers in the third quarter of 2025.

Procore Technologies, Inc. (PCOR) - Canvas Business Model: Customer Relationships

You're looking at how Procore Technologies, Inc. (PCOR) keeps its construction customers locked in and growing with the platform. It's a relationship game built on high-value contracts and continuous platform expansion, which is why the numbers look the way they do.

Focus on a high gross revenue retention rate of 95%

This metric tells you how sticky the platform is. For the third quarter of 2025, Procore Technologies, Inc. achieved a gross revenue retention rate of exactly 95%. That means, even after accounting for churn and downgrades, the revenue retained from the existing customer base was 95% of what it was the prior year for that cohort. This high rate is the bedrock of their financial stability, especially as they focus on larger, more complex projects.

High-touch enterprise sales and account management

The focus on high-value customers is clear when you look at the enterprise segment growth. As of September 30, 2025, the number of organic customers contributing more than $100,000 of annual recurring revenue reached 2,602. That specific segment grew year-over-year by 15%. Overall, Procore Technologies, Inc. ended Q3 2025 with a total of 17,623 organic customers, having added 122 net new organic customers in that quarter alone. This suggests a sales and account management structure geared toward landing and expanding within larger firms, which is consistent with their self-assessment as a premium product.

The platform's reach is global, with over three million projects having run on Procore across more than 150+ countries. The primary customer segments driving this relationship are General Contractors, Specialty Contractors, and Project Owners/Developers.

Dedicated professional services for implementation and training

For customers with more complex needs or specific project requirements, Procore Technologies, Inc. offers professional services. These services can include strategic consulting to optimize platform utilization, custom workflow development, and assistance with data migration. The commitment to customer success, which drives that 95% retention, is supported by these tailored post-sales engagements. If onboarding takes 14+ days, churn risk rises, so efficient deployment is key.

Self-service support via the Procore Community and knowledge base

To support the massive user base of over 17,623 organic customers, Procore Technologies, Inc. maintains resources for self-service. The company points to its Community, the Procore Construction Network, and its various educational resources, including webinars and product updates, as part of its connected global platform. The focus on community engagement is a trend in 2025, with many brands moving toward dedicated platforms to improve self-service and quick issue resolution.

Continuous product innovation and feature releases (e.g., Groundbreak 2025)

Customer relationships are reinforced by continuous platform evolution, often showcased at their annual event. Procore Technologies, Inc. hosted Groundbreak 2025 in Houston, which drew nearly 6,000 attendees. At this event, the company announced significant AI innovations, including expanded features for Procore Assist and the Open Beta release for Procore Agent Builder. These releases focus on turning static project data into dynamic intelligence, with new features like Photo Intelligence and multilingual support (Spanish and Polish).

Here's a quick look at the recent product focus:

• Procore Helix: The intelligence layer powering AI and analytics.
• Procore Agent Builder: Now in Open Beta, for custom AI workflow automation.
• Procore Assist Upgrades: Including Photo Intelligence and mobile access.
• Integrated Scheduling: Released in Open Beta, shifting focus to proactive risk management.

The company is clearly embedding AI directly into day-to-day workflows, which is a strategic inflection point for their customers.

Procore Technologies, Inc. (PCOR) - Canvas Business Model: Channels

You're looking at how Procore Technologies, Inc. gets its software platform in front of construction firms, which is a mix of direct selling, digital reach, and partner enablement. Here's the data on those routes as of late 2025.

Direct sales force targeting large and mid-market construction firms

Procore Technologies, Inc. has been actively scaling its direct sales capacity, transitioning its structure to better support global go-to-market initiatives. The company has been meeting its weekly hiring targets for sales team expansion, which analysts previously estimated could contribute 3% growth from sales force expansions alone.

The focus remains on capturing larger customers, evidenced by key customer metrics:

• Number of organic customers contributing more than $100,000 of Annual Recurring Revenue (ARR) totaled 2,602 as of September 30, 2025.
• This figure represented a 15% year-over-year increase as of the third quarter of 2025.
• In the fourth quarter of 2024, the number of customers contributing more than $1M in ARR increased by 39% year-over-year.
• Total organic customers reached 17,623 as of September 30, 2025.

Procore App Marketplace for third-party software distribution

The Procore App Marketplace acts as a crucial channel by extending platform functionality through integrations. This ecosystem is a gateway to hundreds of solutions that enhance workflows across areas like accounting, BIM, and scheduling. The platform aims to create a fully connected construction ecosystem through these third-party applications.

The value of this channel is seen in the platform's overall stickiness, with a reported gross revenue retention rate of 95% in the third quarter of 2025.

International expansion efforts in key global markets

International growth is a stated priority, with the platform running on projects across 150+ countries. While the core market remains strong, international performance shows distinct growth rates:

Reporting Period	International Revenue Growth (YoY)	Constant Currency Growth (YoY)
Q1 FY2025	18%	20%
Q2 FY2025	13%	16%
Q4 2024	19%	N/A

One analyst estimate suggested that international markets could contribute 4% to Procore Technologies, Inc.'s annual revenue growth.

Digital marketing and industry events (e.g., Groundbreak)

Industry events serve as major touchpoints for customer engagement, partner networking, and product announcements. Procore Technologies, Inc.'s annual conference, Groundbreak, has seen significant scale:

• Groundbreak 2025 wrapped with nearly 6,000 attendees.
• Groundbreak 2024 hosted more than 4,500 attendees from 35 countries.
• The 2025 event featured over 200 speakers and more than 70 breakout sessions.
• The Groundbreak 2025 expo hall included 149 exhibitors.

These events are used to showcase major platform updates, such as the announcements around Procore Assist and the Open Beta release for Procore Agent Builder at Groundbreak 2025.

Referral network from satisfied customers and partners

While specific referral revenue percentages aren't public, customer satisfaction metrics point to strong organic advocacy. The company achieved a gross revenue retention rate of 95% in the third quarter of 2025. This high retention, coupled with the growth in high-value customers, suggests strong product-market fit that fuels word-of-mouth and partner-driven expansion.

Procore Technologies, Inc. (PCOR) - Canvas Business Model: Customer Segments

You're looking at the core of Procore Technologies, Inc.'s revenue engine-who actually pays for the platform. Honestly, the customer base is intentionally broad because construction is a massive, fragmented industry. Procore Technologies, Inc. targets the entire project lifecycle ecosystem, which means they aren't just selling to one type of company; they are selling to everyone who touches a project.

The platform serves a wide spectrum of construction players. This ranges from smaller operations managing just a few million dollars in annual construction volume right up to the global enterprises managing billions. This breadth is key to their platform strategy, aiming for adoption across all stakeholders on a project.

The primary customer segments Procore Technologies, Inc. focuses on are:

• General Contractors (GPs) of all sizes
• Specialty Contractors (Subs) across various trades
• Project Owners and Developers managing capital projects

Procore Technologies, Inc. has successfully penetrated the market across these groups. As of the third quarter of 2025, the total number of organic customers stood at 17,623. This shows consistent growth in the overall user base.

The real financial weight, however, comes from the larger, more deeply embedded clients. These are the customers you want to watch closely for revenue stability. Procore Technologies, Inc. has 2,602 customers over $100k ARR as of September 30, 2025. That specific cohort grew by 15% year-over-year as of that date.

Drilling down into that high-value group, you see the enterprise focus:

Customer Metric	Count (as of Q3 2025)	Context
Customers with >$100k ARR	2,602	Represents significant platform commitment
Customers with >$1M+ ARR	86	Top-tier enterprise clients

These large enterprise clients represent the goal for many firms seeking standardized operations. Global construction firms are a key target here, as the platform helps drive consistency across disparate geographies. While specific numbers for global firms aren't broken out separately, the international footprint is evident: Non-U.S. revenue accounted for 15% of total revenue in 2024, and over 3 million projects have run on Procore across 150+ countries.

The platform's value proposition is designed to capture these different segments by facilitating collaboration between them. For instance, the focus on Project Owners and Developers is crucial because their adoption drives platform use by their General Contractors and Specialty Contractors. If onboarding takes 14+ days, churn risk rises, especially with smaller subs who need quick value.

The composition of the user base, including general contractors, subcontractors, project managers, architects, engineers, and owners, confirms Procore Technologies, Inc.'s strategy to be the central operating system for construction, not just a tool for one role. Finance: draft 13-week cash view by Friday.

Procore Technologies, Inc. (PCOR) - Canvas Business Model: Cost Structure

You're looking at the cost side of Procore Technologies, Inc.'s business as of late 2025. The structure is typical for a high-growth, enterprise Software-as-a-Service (SaaS) company, meaning significant upfront investment in growth outpaces immediate GAAP profitability, even as non-GAAP operating leverage improves.

The most recent detailed operating expense breakdown we have is from the first quarter of 2025, which shows the scale of investment required to maintain platform leadership and acquire customers. For the three months ended March 31, 2025, total operating expenses reached $281.951 million, resulting in a GAAP Loss from Operations of ($36.245 million) on revenue of $310.632 million.

High cost of research and development (R&D) for platform innovation

Procore Technologies, Inc. must continuously invest heavily in R&D to keep its platform ahead, especially with the stated focus on AI innovations like Procore Assist and Agent Builder. This spending fuels the core value proposition-a unified, modern platform for the construction industry.

• R&D expense for the three months ended March 31, 2025, was $87.609 million.
• This represents approximately 28.2% of the Q1 2025 revenue of $310.632 million.
• The company is investing to maintain its position as the clear market leader in a massive, under-penetrated industry.

Significant sales and marketing (S&M) expenses for customer acquisition

Acquiring and expanding the customer base is a major cost driver, though the high Gross Revenue Retention rate of 95% in Q3 2025 suggests strong long-term value from each customer once onboarded. The go-to-market model is clearly resource-intensive.

Here's a look at the S&M spend relative to other operating costs, using the Q1 2025 data as the most granular view:

Expense Category (Q1 2025, in thousands)	Amount	% of Total Operating Expenses
Sales and Marketing (S&M)	$138,684	49.2%
Research and Development (R&D)	$87,609	31.1%
General and Administrative (G&A)	$55,658	19.7%

The S&M spend of $138.684 million for the quarter was the single largest cost component, underscoring the focus on scaling the customer base, which reached 17,623 organic customers by September 30, 2025.

Stock-based compensation (SBC) driving GAAP net losses

Stock-based compensation is a substantial non-cash expense that directly contributes to the GAAP net loss, even as the business generates positive operating cash flow. Management emphasizes non-GAAP metrics to show the underlying operational performance without this accounting charge.

• Total stock-based compensation expense for the three months ended March 31, 2025, was $51.024 million.
• This single expense item was larger than the entire G&A expense for that quarter.
• For Q3 2025, the company reported a GAAP Net Loss of $9.1 million, while simultaneously achieving a positive Operating Cash Inflow of $88 million.

Cloud hosting and infrastructure costs for a global SaaS platform

While Procore Technologies, Inc. does not break out cloud hosting as a separate line item, these costs are embedded within Cost of Revenue, which is the primary component of the GAAP Gross Margin calculation. The platform supports over three million projects across 150+ countries, necessitating significant infrastructure spending.

The GAAP Gross Margin for Q3 2025 was 80%, meaning 20% of revenue was consumed by costs directly related to delivering the service, which includes cloud hosting, data center operations, and customer support personnel costs that are not classified under Operating Expenses.

Personnel costs for professional services and customer support

Personnel costs are the largest driver across all operating expense categories (S&M, R&D, G&A) and also contribute to the Cost of Revenue. The commitment to unrivaled customer support, which is included with every contract, requires a large, dedicated team, which is a key part of the cost structure.

The total operating expense in Q1 2025 was $281.951 million, which is overwhelmingly personnel-driven, covering the teams responsible for:

• Developing new features (R&D).
• Acquiring and supporting new customers (S&M).
• Handling day-to-day operations and compliance (G&A).

For the full year 2025, management guides for a 14% non-GAAP operating margin, signaling that while costs are high, they are scaling more efficiently than revenue, which is expected to grow by 14% year-over-year.

Procore Technologies, Inc. (PCOR) - Canvas Business Model: Revenue Streams

You're looking at the financial engine of Procore Technologies, Inc. (PCOR), and the story here is overwhelmingly about recurring revenue, which is what software-as-a-service (SaaS) investors love to see. The primary revenue stream is definitely the subscription-based SaaS fees you charge for platform access and use. This creates that predictable, high-retention income base we track so closely.

For the full fiscal year 2025, Procore Technologies, Inc. is guiding total revenue in the range of $1.312 billion to $1.314 billion. That guidance, raised after Q3 2025 results, represents a solid year-over-year growth rate of 14% over the prior year's actual revenue. To give you a snapshot of the current run rate, Q3 2025 revenue itself hit $339 million, showing consistent execution even as the company focuses on operational leverage.

Expansion revenue is the next big lever, coming from cross-selling additional product modules to the existing customer base. This is where the land-and-expand strategy really pays off. Honestly, the numbers show this is working well; for instance, approximately 83% of the Q1 2025 revenue growth stemmed from existing customers expanding their use of the platform. The average Procore customer buys 3-4 products, and enterprise customers often utilize 5-6 modules, which is a testament to the platform's stickiness and the success of that cross-sell motion.

The quality of that expansion is visible in the growth of your largest customers. Revenue derived from larger deals, specifically those in the 6- and 7-figure Annual Recurring Revenue (ARR) bracket, is reported as growing 21% year-over-year, showing that the biggest construction firms are standardizing on the platform. This is supported by the fact that the number of organic customers contributing over $100,000 in ARR reached 2,602 as of September 30, 2025, marking a 15% increase year-over-year.

Finally, you must account for professional services and implementation fees. While subscription revenue is the core, these fees cover the initial setup, training, and configuration required to get large, complex construction projects onto the platform efficiently. The high non-GAAP gross margin of 84% reported in Q3 2025 suggests that the bulk of the revenue is high-margin software, but these services are a necessary component of the overall customer acquisition and onboarding cost structure.

Here's a quick look at the key metrics underpinning this revenue structure as of late 2025:

Metric	Value/Amount	Period/Context
Full Year 2025 Revenue Guidance (Midpoint)	$1.313 billion	Full Year 2025 Outlook
Q3 2025 Revenue	$339 million	Q3 Ended September 30, 2025
Gross Revenue Retention (GRR)	95%	Q3 2025
Customers with > $100k ARR	2,602	As of September 30, 2025
6- and 7-Figure Deal YoY Growth	21%	As specified for this analysis

You can see the health of the installed base through these expansion indicators:

• Gross Revenue Retention rate was 95% in Q3 2025.
• Total organic customers ended Q3 2025 at 17,623.
• The total Annual Recurring Revenue (ARR) base was reported at $1.42 billion in Q3 2025.
• Non-GAAP Gross Margin for Q3 2025 was 84%.