| Market Capitalization (Millions $) |
8,392 |
| Shares
Outstanding (Millions) |
147 |
| Employees |
2,885 |
| Revenues (TTM) (Millions $) |
1,061 |
| Net Income (TTM) (Millions $) |
-91 |
| Cash Flow (TTM) (Millions $) |
43 |
| Capital Exp. (TTM) (Millions $) |
58 |
Procore Technologies Inc
We are a major provider of cloud-based construction management software, and we are assisting in the transformation of one of the worlds oldest, largest, and least digital sectors. We are solely dedicated to the construction sector, connecting and empowering key players such as owners, general contractors, specialist contractors, architects, and engineers to interact from any place, using any internet-connected device. Our platform is modernizing and digitizing construction management by providing real-time access to critical project information, simplifying complex workflows, and facilitating seamless communication among key stakeholders, all of which we believe positions us to be the construction industrys system of record. Adoption of our platform assists clients in increasing productivity and efficiency, reducing rework and expensive delays, improving safety and compliance, and improving financial transparency and accountability.
We have established our market leadership through an approach focused on serving the unique needs of the construction industry. We work directly with stakeholders to develop the products they need and provide high-quality support, available to all users at no additional charge. Our four product categories, Preconstruction, Project Management, Resource Management, and Financial Management, automate workflows, provide real-time visibility, offer advanced analytics, and support collaboration across key stages of the construction project lifecycle. Each of our products can be accessed from the office or the jobsite on computers, smartphones, and tablets, enabling users to work wherever the job requires. Our open application programming interfaces ('APIs') and our application marketplace ('App Marketplace') allow customers to integrate our products with their internal systems and nearly 350 third-party applications, including accounting, document management, and scheduling software, providing our users with choice and flexibility, and demonstrably increasing the stickiness of our platform as we aim to become the construction industry's system of record.
Our customers range from small businesses managing a couple million dollars of annual construction volume to global enterprises managing billions of dollars of annual construction volume. Our core customers are owners, general contractors, and specialty contractors operating across the commercial, residential, industrial, and infrastructure segments of the construction industry. We generate substantially all of our revenue from subscriptions to access our products. We sell our products on a subscription basis for a fixed fee with pricing generally based on the number and mix of products a customer subscribes to and the fixed aggregate dollar volume of construction work contracted to run on our platform annually, which we refer to as annual construction volume. As our customers subscribe to additional products, or increase the annual construction volume contracted to run on our platform, we generate more revenue.
The construction process relies on coordination among highly fragmented and specialized groups, including key stakeholders such as owners, general contractors, specialty contractors, architects, and engineers. These stakeholders engage in financing, budgeting, designing, building, and maintaining commercial, residential, industrial, and infrastructure projects while navigating varying responsibilities, risk profiles, and motives. Completing a project safely, on time, and within budget requires effective collaboration between stakeholders across work streams, sharing information in a timely and effective manner, and navigating increasing contractual and regulatory complexity.
Company Address: 6309 Carpinteria Avenue Carpinteria 93013 CA
Company Phone Number: 477-6267 Stock Exchange / Ticker: NYSE PCOR
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3.24%