← PROCORE TECHNOLOGIES, INC.
| Annual Trend | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net loss | ($12.4m) | ($72.0m) | ($83.1m) | ($96.2m) | ($265.2m) | ($286.9m) | ($189.7m) | ($106.0m) | ($100.8m) | — | |
| Depreciation and amortization | — | $395k | $14.9m | $26.0m | $36.4m | $63.0m | $71.6m | $89.8m | $110.6m | $116.5m | |
| Amortization of right of use asset | — | — | — | $815k | $829k | $537k | $928k | $850k | $104k | — | |
| Amortization of intangible assets | $3.9m | $6.1m | $6.0m | $5.4m | $2.1m | $1.4m | — | — | — | — | |
| Depreciation expense | $744k | $395k | $93k | — | — | — | — | — | — | $116.5m | |
| Deferred income taxes | $937k | $1.6m | ($42k) | ($1.3m) | ($24.5m) | ($283k) | ($769k) | ($881k) | ($6.8m) | ($12.6m) | |
| Deferred income tax (benefits) expenses | — | $1.6m | ($978k) | ($1.0m) | $680k | ($55k) | $783k | $84k | ($991k) | ($12.6m) | |
| Stock-based compensation | $14.7m | $976k | $19.2m | $44.0m | $227.2m | $162.9m | $174.8m | $186.9m | $238.4m | $248.3m | |
| Stock-based compensation capitalized for cloud-computing arrangement costs | — | — | — | $32k | $346k | $256k | $296k | $104k | $233k | $248.3m | |
| Stock-based compensation capitalized for software development | — | — | $1.3m | $575k | $5.2m | $8.6m | $9.4m | $13.2m | $19.4m | $248.3m | |
| Non-employee share-based compensation expenses | — | — | $2.5m | $17.0m | $9.6m | $604k | $952k | $47k | — | — | |
| Impairment of inventory | — | $864k | ($268k) | $782k | $1.3m | — | — | — | — | — | |
| Impairment of intangible assets | — | — | — | $724k | — | — | — | — | — | — | |
| Impairment of long term investment | — | $13.0m | — | — | — | — | — | — | — | — | |
| Accounts receivable | ($37.5m) | $41.2m | ($19.6m) | ($19.6m) | ($34.2m) | ($35.8m) | ($57.5m) | ($39.5m) | ($39.8m) | ($47.6m) | |
| (Reversal of provision) provision on accounts receivables & other current assets | — | $22.0m | $13.6m | $4.4m | ($1.8m) | ($20k) | ($501k) | $15k | $1.1m | — | |
| Accounts receivable write offs | — | $1.5m | — | — | — | — | — | — | — | ($47.6m) | |
| Inventories | ($4.3m) | $9.2m | $2.5m | $2.2m | ($5.3m) | $2.0m | $679k | $1.5m | $29k | — | |
| Accounts payable | $27.0m | ($29.1m) | $805k | $724k | $4.0m | $459k | ($938k) | $19.7m | ($8.2m) | $13.0m | |
| Purchases of property and equipment included in accounts payable and accrued expenses at year end | — | — | $1.7m | $1.1m | $2.8m | $1.5m | $754k | $1.6m | $2.6m | ($88.3m) | |
| Capitalized software development costs included in accounts payable and accrued expenses at year end | — | — | $788k | $168k | $1.3m | $1.6m | $1.9m | $3.8m | $3.0m | — | |
| Accrued expenses and other payables | $5.2m | $5.5m | $18.9m | $13.0m | $9.8m | ($3.7m) | — | — | — | — | |
| Change in Accounts Payable | — | $1.1m | $2.4m | — | — | — | — | — | — | — | |
| Accrued expenses and other liabilities | — | — | $12.4m | ($5.4m) | $38.2m | $34.6m | $4.8m | ($15.5m) | $64.4m | — | |
| Deferred revenue | — | — | $61.6m | $41.8m | $78.7m | $97.0m | $106.6m | $79.1m | $100.1m | — | |
| Gain on reversal of accrued liabilities | — | — | — | — | — | — | — | — | ($10.5m) | — | |
| Deferred revenues | ($5.1m) | $1.3m | ($10.7m) | ($28k) | $1.0m | $9k | — | ($8k) | — | — | |
| Prepaid expenses and other assets | — | — | ($6.7m) | ($6.2m) | ($16.7m) | ($3.8m) | ($6.4m) | ($3.3m) | ($5.7m) | — | |
| Restricted cash included in prepaid expenses and other current assets at end of period | — | — | — | $242k | — | — | $0 | $0 | $611k | — | |
| Restricted cash for funds held for customers included in prepaid expenses and other current assets at end of period | — | — | — | — | — | — | $0 | $0 | $9.0m | — | |
| Deferred asset acquisition payment included in other current liabilities and other non-current liabilities at year end | — | — | — | — | $0 | $0 | $1.4m | $1.4m | $600k | — | |
| Prepaid expenses and other current assets | ($12.1m) | ($6.8m) | ($13.3m) | ($7.7m) | ($12.9m) | $6.3m | — | — | — | — | |
| Net cash provided by operating activities | ($12.6m) |
$2.6m
+120.43%
|
($7.0m)
-371.37%
|
$21.9m
+412.01%
|
$36.7m
+68.08%
|
$12.6m
-65.67%
|
$92.0m
+629.81%
|
$196.2m
+113.20%
|
$300.3m
+53.06%
|
$368.0m
+22.57%
|
|
| Purchases of property and equipment | ($842k) | ($155k) | ($13.1m) | ($7.2m) | ($12.4m) | ($15.8m) | ($10.3m) | ($19.1m) | ($18.1m) | ($88.3m) | |
| Accretion of discounts on marketable debt securities, net | — | — | — | — | $0 | ($2.0m) | ($9.8m) | ($12.8m) | ($7.9m) | — | |
| (Increase) decrease in fair value of strategic investments | — | — | — | — | ($32k) | $483k | $287k | ($454k) | ($124k) | — | |
| Purchases of strategic investments | — | — | — | — | ($4.3m) | ($4.0m) | ($764k) | ($2.4m) | ($2.2m) | — | |
| Purchases of marketable securities | — | — | — | — | $0 | ($369.2m) | ($402.4m) | ($491.5m) | ($351.5m) | — | |
| Maturities of marketable securities | — | — | — | — | $0 | $85.6m | $372.2m | $440.5m | $409.2m | — | |
| Sales of marketable securities | — | — | — | — | $0 | $0 | $5.5m | $0 | $2.7m | — | |
| Conversion of available-for-sale debt securities into equity securities | — | — | — | — | $0 | $3.7m | $0 | $350k | $0 | — | |
| Short term investments | — | — | — | — | — | — | — | — | ($4.6m) | — | |
| Asset acquisitions, net of cash acquired | — | — | — | — | $0 | $0 | ($7.8m) | ($3.8m) | ($3.5m) | — | |
| Net cash used in investing activities | ($8.1m) | ($4.3m) | ($66.7m) | ($33.5m) | ($541.8m) | ($340.5m) | ($76.1m) | ($150.1m) | ($70.5m) | ($23.1m) | |
| Interest expense related to debt discount | — | — | — | — | $9.9m | $11.4m | $700k | $770k | — | — | |
| Gain on debt settlement | — | — | — | ($26k) | $17.2m | ($217k) | ($176k) | — | — | — | |
| Gain on debt forgiveness | — | — | — | — | ($2.1m) | — | — | ($4.7m) | — | — | |
| Proceeds from short-term bank and other borrowings | $10.5m | $1.1m | $5.0m | $5.3m | $3.5m | $155k | $424k | — | — | — | |
| Repayments of short-term bank and other borrowings | ($4.8m) | ($2.6m) | ($11.0m) | ($7.9m) | ($3.9m) | ($579k) | — | — | ($411k) | — | |
| Debt settlements by issuance of ordinary shares | — | — | — | $3.4m | $36.1m | — | $1.3m | — | — | — | |
| Proceeds from long-term bank and other borrowings | — | — | — | $1.2m | — | $112k | — | — | — | — | |
| Repayments of long-term bank and other borrowings | ($2.6m) | ($4.0m) | ($2.3m) | — | ($111k) | ($1k) | — | — | — | — | |
| Proceeds from long-term bank borrowings | $2.0m | $4.0m | $9.5m | $1.2m | — | $112k | — | — | — | — | |
| Repurchases of common stock | — | — | — | — | — | — | $0 | $0 | ($128.8m) | — | |
| Payment of tax withholding for net share settlement | — | — | — | — | — | — | $0 | $0 | ($94.1m) | — | |
| Net cash (used in) provided by financing activities | $31.9m |
($11.5m)
-136.22%
|
$92.8m
+903.79%
|
$272.1m
+193.37%
|
$711.8m
+161.59%
|
$38.7m
-94.57%
|
$41.2m
+6.50%
|
$36.2m
-11.97%
|
($178.9m)
-593.71%
|
— | |
| Net Cash from Financing Activities | $18.0m | — | — | — | — | — | — | — | — | — | |
| Net (decrease) increase in cash and cash equivalents and restricted cash | $11.8m | ($13.5m) | $5.3m | ($5.2m) | $4.8m | $3.4m | ($10.3m) | $2.5m | ($943k) | — | |
| Cash, cash equivalents and restricted cash, beginning of period | — | — | $121.8m | $383.3m | $589.2m | $299.8m | $357.8m | $437.7m | $490.2m | — | |
| Cash and cash equivalents and restricted cash at the beginning of year | $4.8m | $16.5m | $3.0m | $8.3m | $3.1m | $7.9m | $11.3m | $1.1m | $3.6m | — | |
| Net increase in cash, cash equivalents and restricted cash | — | — | $19.1m | $260.5m | $206.8m | ($289.2m) | $57.1m | $82.3m | $50.9m | — | |
| Cash and cash equivalents and restricted cash of continuing operations at the end of year | — | $1.9m | $6.0m | $3.1m | $6.3m | $8.3m | $826k | $2.1m | $2.6m | — | |
| Restricted cash of continuing operations at the end of year | — | — | $5.0m | $37k | $211k | $25k | $26k | $26k | — | — | |
| Restricted cash of discontinued operations at the end of year | $3.5m | $708k | $768k | — | — | $7k | — | — | — | — | |
| Cash and cash equivalents and restricted cash at the end of year | — | $3.0m | $8.3m | $3.1m | $7.9m | $11.3m | $1.1m | — | — | — | |
| Less: cash and cash equivalents and restricted cash of discontinued operations at the end of year | — | — | — | — | $1.6m | — | — | — | — | — | |
| Total cash and cash equivalents and restricted cash of continuing operations | $13.0m | $1.9m | $6.0m | $3.1m | $6.3m | $11.3m | $1.1m | — | — | — | |
| Total cash and cash equivalents and restricted cash of discontinued operations | $3.5m | $1.0m | $2.3m | — | $1.6m | — | — | — | — | — | |
| Effect of exchange rate changes on cash | $648k | ($324k) | ($61k) | $966k | ($829k) | ($180k) | $855k | ($2.4m) | $1.7m | ($4.0m) | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Abandonment of long-lived assets | — | — | $502k | $3.5m | $554k | $1.3m | $1.5m | $1.4m | $3.5m | — | |
| Noncash operating lease expense | ($12.6m) | $2.6m | $4.5m | $6.6m | $7.6m | $10.2m | $13.1m | $11.1m | $5.8m | $368.0m | |
| Unrealized foreign currency (gain) loss, net | — | — | $182k | ($832k) | $685k | ($351k) | ($524k) | $2.3m | ($1.9m) | — | |
| (Benefit from) provision for credit losses | — | — | — | $498k | $129k | $2.6m | $8.1m | $591k | ($514k) | — | |
| Deferred contract cost assets | — | — | ($7.4m) | ($2.0m) | ($10.2m) | ($22.0m) | ($9.3m) | ($9.0m) | ($52.0m) | — | |
| Operating lease liabilities | — | — | ($4.2m) | ($6.2m) | ($5.7m) | ($8.9m) | ($13.8m) | ($7.3m) | $1.0m | — | |
| Capitalized software development costs | — | — | ($14.9m) | ($11.8m) | ($15.2m) | ($33.6m) | ($34.7m) | ($49.5m) | ($65.7m) | — | |
| Originations of materials financing | — | — | — | — | $0 | ($23.5m) | ($24.0m) | $0 | $0 | — | |
| Customer repayments of materials financing | — | — | — | — | $0 | $18.7m | $26.2m | $1.6m | $0 | — | |
| Acquisition of businesses, net of cash acquired | — | — | ($38.7m) | ($14.5m) | ($509.8m) | $0 | $0 | ($25.9m) | ($41.5m) | — | |
| Proceeds from stock option exercises | — | — | $6.7m | $31.2m | $43.1m | $22.4m | $17.6m | $15.7m | $11.8m | — | |
| Proceeds from employee stock purchase plan | — | — | — | — | $9.5m | $22.1m | $25.4m | $24.1m | $26.3m | — | |
| Payment of deferred business combination consideration | — | — | ($1.8m) | ($165k) | ($475k) | ($3.9m) | $0 | ($1.5m) | $0 | — | |
| Payment of deferred asset acquisition consideration | — | — | — | — | — | $0 | $0 | ($81k) | ($1.4m) | — | |
| Principal payments under finance lease agreements, net of proceeds from lease incentives | — | — | ($1.1m) | ($1.3m) | ($1.5m) | ($1.7m) | ($1.9m) | ($2.0m) | ($1.6m) | — | |
| Net increase in funds held for customers | — | — | — | — | — | — | $0 | $0 | $9.0m | — | |
| Cash and cash equivalents at end of period | $13.0m | $1.9m | $118.5m | $379.9m | $586.1m | $296.7m | $357.8m | $437.7m | $480.7m | — | |
| Cash paid for interest other than finance leases | ($1.9m) | ($2.6m) | $149k | $150k | $186k | $94k | $4k | $25k | $39k | — | |
| Cash received for lease incentives | — | — | $201k | $1.1m | $1.5m | $2.0m | $789k | $2.6m | $10.5m | — | |
| Operating cash flows from finance leases | ($12.6m) | $2.6m | $2.2m | $2.1m | $2.1m | $2.0m | $2.0m | $1.9m | $1.1m | $368.0m | |
| Operating cash flows from operating leases | ($12.6m) | $2.6m | $5.4m | $8.6m | $8.3m | $12.1m | $16.0m | $11.9m | $12.1m | $368.0m | |
| Financing cash flows from finance leases | — | — | $1.3m | $1.5m | $1.7m | $1.9m | $2.1m | $2.2m | $1.6m | ($139.1m) | |
| Right of use assets obtained in exchange for financing lease liabilities | — | — | — | — | — | — | $0 | $0 | ($10.3m) | — | |
| Right of use assets obtained in exchange for operating lease liabilities | — | — | $17.1m | $22.1m | $1.9m | $10.2m | $15.4m | ($3.9m) | $13.0m | — | |
| Noncash net change due to operating lease remeasurement | ($12.6m) | $2.6m | $5.4m | ($1.6m) | $9k | ($1.6m) | ($115k) | ($89k) | $0 | $368.0m | |
| Loss on repurchase of convertible notes | — | — | — | — | — | — | — | $600k | — | — | |
| Loss on additional compensation to HHE | — | — | — | — | — | $6.0m | $5.4m | — | — | — | |
| Gain on cancellation of shares compensation to HHE | — | — | — | — | — | — | — | ($6.0m) | — | — | |
| Gain on disposal of subsidiaries | — | — | — | — | — | — | — | ($12.6m) | ($21.2m) | — | |
| Loss related to equity financing | — | — | — | — | — | $3.7m | $14.2m | — | — | — | |
| Unrealized loss on trading securities | — | — | — | — | — | — | — | — | $830k | — | |
| Realized gain on sale of securities | — | — | — | — | — | — | — | — | ($1.1m) | — | |
| Amounts due to related parties | — | $1.1m | $2.4m | ($351k) | ($1.3m) | ($1.8m) | ($3k) | — | $6k | — | |
| Long-term payable | — | $2.5m | ($6.3m) | ($361k) | $669k | ($252k) | ($417k) | — | — | — | |
| Income tax payable | $1.0m | ($264k) | ($89k) | $974k | ($1.5m) | ($392k) | $208k | ($161k) | ($49k) | — | |
| Unrecognized tax benefit | — | — | — | — | — | — | ($2.0m) | — | — | — | |
| Receipt of time deposit from banks | — | — | — | — | — | — | — | $3.5m | $2.7m | — | |
| Investment in time deposit | — | — | — | — | ($338k) | ($1.4m) | ($2.1m) | ($3.4m) | — | — | |
| Proceeds from disposal of subsidiaries | — | — | — | — | — | — | — | — | $22.5m | — | |
| Additional compensation payment to a former subsidiary | — | — | — | — | — | — | ($2.7m) | — | — | — | |
| Proceeds from issuance of convertible notes | — | — | — | — | $34.4m | $15.1m | $1.4m | — | — | — | |
| Repurchase of convertible notes | — | — | — | — | — | — | — | ($4.0m) | — | — | |
| Cash and cash equivalents of continuing operations at the end of year | $13.0m | $1.9m | $1.0m | $3.0m | $6.1m | $8.3m | $800k | $2.0m | $2.6m | — | |
| Cash and cash equivalents of discontinued operations at the end of year | $3.5m | $1.0m | $2.3m | — | $1.6m | $3.0m | $247k | $1.5m | — | — | |
| Interest received | $14k | $14k | $43k | $8k | $4k | $24k | $51k | $9k | $460k | — | |
| Income tax paid | — | $698k | ($478k) | ($544k) | ($375k) | ($254k) | — | ($101k) | — | $3.9m | |
| Cash paid included in the measurement of lease liabilities | — | — | ($1.5m) | ($1.0m) | ($1.1m) | ($678k) | ($881k) | ($843k) | ($304k) | — | |
| Conversion of convertible notes | — | — | — | — | $21.4m | $28.7m | $500k | — | — | — | |
| Issuance of shares for increase in subscription receivable | — | — | $15.3m | $4.1m | — | $2.8m | $11.1m | — | — | — | |
| Cancellation of shares for decrease in subscription receivable | — | — | — | — | $4.1m | — | — | $9.4m | — | — | |
| Gain on disposal of HHE | — | — | — | — | $111k | — | — | ($12.6m) | — | — | |
| Loss from deconsolidation of HHE | — | — | — | — | — | $3.6m | — | — | — | — | |
| Contract assets | — | — | — | — | ($1.4m) | $1.5m | — | — | — | — | |
| Other non-current assets | — | — | — | ($3.2m) | — | — | — | — | — | — | |
| Other non-current liabilities | — | — | — | $84k | ($68k) | ($15k) | — | — | — | — | |
| Cash disposed of from deconsolidation of HHE | — | — | — | — | — | ($1.1m) | — | — | — | — | |
| Proceeds from non-controlling shareholders of a subsidiary | — | — | — | — | $297k | $138k | — | — | — | — | |
| Loan conversion with ordinary shares | — | — | — | $3.4m | — | $1.2m | — | — | — | — | |
| Loss on disposal of subsidiary | — | — | — | ($10.1m) | $303k | — | — | — | — | — | |
| Reversal of contingency loss | — | — | — | — | ($3.3m) | — | — | — | — | — | |
| Advances from customers and contract liabilities | — | $1.9m | $5.1m | $493k | ($92k) | $2.1m | ($2.7m) | — | — | — | |
| Lease liabilities | — | — | ($1.4m) | ($132k) | ($1.4m) | ($109k) | ($896k) | — | — | — | |
| Proceeds from exercising of warrants | — | — | — | — | $55k | — | — | — | — | — | |
| Acquisition of a subsidiary | $52k | $50k | — | — | $3.5m | — | — | — | — | — | |
| Contingency loss | — | — | — | $3.1m | — | — | — | — | — | — | |
| Loss on additional acquisition cost to HHE in shares | — | — | — | — | — | $6.0m | — | — | — | — | |
| Right of use asset | — | — | $1.5m | ($819k) | ($1.8m) | $433k | — | — | — | — | |
| Purchases of intangible assets | ($7.6m) | ($5.6m) | ($4.4m) | ($141k) | — | — | — | — | — | — | |
| Proceeds from disposal of a subsidiary, net of cash balance at disposed entity | — | — | — | $4.2m | — | — | — | — | — | — | |
| Proceeds from acquisition of a subsidiary, net of cash acquired | — | — | — | — | $121k | — | — | — | — | — | |
| Issuance of shares in exchange for advisory services | — | — | $2.5m | $17.0m | $9.7m | $604k | — | — | — | — | |
| Settlement of equity financing | — | — | — | — | — | $3.7m | — | — | — | — | |
| Operating lease right-of-use assets obtained in exchange for new operating lease liabilities | — | — | — | $797k | $1.8m | $575k | — | — | — | — | |
| MVNO BU management compensation | — | — | $1.5m | — | — | — | — | — | — | — | |
| Effect of ASC 606 adoption | — | — | $930k | — | — | — | — | — | — | — | |
| Deferred cost of revenues | ($1.5m) |
($3.8m)
-153.66%
|
$6.9m
+283.26%
|
— | — | — | — | — | — | — | |
| Deferred government grants | ($151k) | ($93k) | ($1.9m) | — | — | — | — | — | — | — | |
| Proceeds from disposal of non-controlling interest | — | — | $5.3m | — | — | — | — | — | — | — | |
| Payments to acquiring non-controlling interest | — | — | ($1.5m) | — | — | — | — | — | — | — | |
| Proceeds from issuance of ordinary shares | $62k | — | $10.4m | — | — | — | — | — | — | — | |
| Repurchase of shares for a decrease in prepayment | — | — | $10.0m | — | — | — | — | — | — | — | |
| Foreign exchange (gain) loss | $779k | ($499k) | — | — | — | — | — | — | — | — | |
| Other receivable write offs | — | $2.2m | — | — | — | — | — | — | — | — | |
| Interest expense | $661k | $338k | — | — | — | — | — | — | — | — | |
| Receivable from MVNO franchisees | $805k | $3.3m | — | — | — | — | — | — | — | — | |
| Unrecognized tax benefits | $366k | ($101k) | — | — | — | — | — | — | — | — | |
| Receipts of loans to third parties | $371k | $1.5m | — | — | — | — | — | — | — | — | |
| Prepayment for repurchase of shares | — | ($10.1m) | — | — | — | — | — | — | — | — | |
| Changes in the fair value of warrant liabilities | $200k | — | — | — | — | — | — | — | — | — | |
| Amounts due from related parties | $490k | $1.1m | $2.4m | ($351k) | ($1.3m) | ($1.8m) | ($3k) | — | $6k | — | |
| Change in Other Working Capital | $3.6m | $1.9m | $5.1m | — | — | — | — | — | — | $65.2m | |
| Net cash proceeds | $9.0m | — | — | — | — | — | — | — | — | — | |
| Proceeds from Stock Issuance | $8k | — | — | — | — | — | — | — | — | — | |
| Payment of issuance costs for Series E Preferred Shares | ($312k) | — | — | — | — | — | — | — | — | — | |
| Interest paid | ($1.9m) | ($2.6m) | ($5.0m) | $150k | $186k | $94k | $4k | $25k | $39k | $39k |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.