Recent News
July 31, 2025 — Procore published second-quarter 2025 results and accompanying business highlights including acquisitions of Novorender and Flypaper Technologies and FedRAMP “In Process” designation. July 10, 2025 — the company announced timing for its Q2 earnings call. Mid‑July 2025 — Investor’s Business Daily reported a rise in Procore’s Relative Strength rating, citing improving price performance.
Technical Analysis
Directional indicators (ADX / DI+ / DI-): ADX at 19.74 signals no established trend in strength; DI+ sits at 25.58 with a dip-and-reversal pattern, which reads as bullish directional pressure, while DI- at 17.85 shows a peak-and-reversal pattern that also supports a bullish directional shift. Together, the directional readings favor short-term upside but lack a strong trend confirmation until ADX climbs above ~20–25.
MACD and momentum: MACD at 0.89 crossed above the signal line (signal 0.42), and the MACD trend shows a dip-and-reversal. That crossover constitutes a bullish momentum signal and aligns with recent upside in price relative to short EMAs.
MRO (Momentum/Regression Oscillator): MRO at 15.51 sits positive, indicating the market price lies above the WMDST reference target and therefore carries potential downward pressure. The MRO trend shows a dip-and-reversal, implying rising MRO strength; this raises the prospect of consolidation if price fails to extend momentum.
RSI and short-term strength: RSI at 54.19 with a dip-and-reversal trend presents neutral-to-favorable momentum without overbought conditions, leaving room for additional upside provided other momentum indicators hold.
Price versus bands, EMAs, Ichimoku: Price closed at $72.56, above the 12‑day and 26‑day EMAs and slightly above the 200‑day average; price crossed above the -1x standard deviation Bollinger band and the Chikou span sits above the Ichimoku cloud, all of which support a near-term bullish bias. SuperTrend lower support lies near $68.13; a break below that level would weaken the immediate bias.
Volume and volatility: Daily volume trails short- and long-term averages, suggesting moves lack conviction until volume picks up. Short-term beta (42‑day) at 2.93 implies elevated sensitivity to market swings; expect wider intraday ranges relative to the market.
Fundamental Analysis
Earnings and cash flow snapshot: Q2 total revenue recorded $323,919,000. GAAP gross margin near 79.09%. Operating cash inflow for the period reached $30,828,000 while free cash flow measured $10,627,000. EPS actual $0.35 versus estimate $0.26 produced an EPS surprise of +34.6%.
Profitability and margins: Reported EBIT stood at -$21,202,000 and EBIT margin at -6.55%. That EBIT margin falls below the industry peer mean (34.32%) and industry peer median (42.99%), indicating current operating profitability trails typical industry practice even as non‑GAAP margins improved in recent messaging.
Valuation multiples and capital structure: P/E at 200.92 and forward P/E near 222.63 reflect a high multiple structure against near‑term earnings power; P/B at 8.32 sits below the industry peer mean of 12.27 but remains elevated in absolute terms. Enterprise multiple and free cash flow yield remain stretched, with free cash flow yield at about 0.11% versus an industry peer mean near 0.53%. Debt levels remain modest: debt-to-assets at 3.25% and debt-to-equity near 5.35% indicate low leverage.
Growth and efficiency: Total revenue for the period matches $323.9M; provided metrics show quarter-over-quarter revenue growth strong while year-over-year growth metrics vary. Asset turnover at 0.1639 sits above the industry peer mean (0.1297), indicating relatively efficient use of assets to generate sales. Research & development investment remains sizable at $88,902,000, supporting product expansion initiatives cited in recent announcements.
Balance sheet and liquidity: Cash and short‑term investments totaled $620,880,000 and the cash conversion ratio at 1.57 indicates healthy cash generation relative to accounting earnings. Current ratio stands near 1.29, below the industry peer mean (1.70) but adequate given low debt.
Valuation view: WMDST values the stock as over‑valued based on current multiples and free cash flow yield relative to fundamentals and growth expectations. Positive operational developments and margin improvement present constructive fundamentals, but multiples require sustained margin expansion and cash generation to justify valuation.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-07-31 |
| NEXT REPORT DATE: | 2025-10-30 |
| CASH FLOW | Begin Period Cash Flow | $ 313.7 M |
| Operating Cash Flow | $ 30.8 M | |
| Capital Expenditures | $ -20.20 M | |
| Change In Working Capital | $ -30.76 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 10.5 M | |
| End Period Cash Flow | $ 324.3 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 323.9 M | |
| Forward Revenue | $ -174.46 M | |
| COSTS | ||
| Cost Of Revenue | $ 67.7 M | |
| Depreciation | $ 27.2 M | |
| Depreciation and Amortization | $ 27.2 M | |
| Research and Development | $ 88.9 M | |
| Total Operating Expenses | $ 354.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 256.2 M | |
| EBITDA | $ 6.0 M | |
| EBIT | $ -21.20 M | |
| Operating Income | $ -30.27 M | |
| Interest Income | $ 5.0 M | |
| Interest Expense | $ 298.0 K | |
| Net Interest Income | $ 4.7 M | |
| Income Before Tax | $ -21.50 M | |
| Tax Provision | $ -411.00 K | |
| Tax Rate | 1.912 % | |
| Net Income | $ -21.09 M | |
| Net Income From Continuing Operations | $ -21.09 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.26 | |
| EPS Actual | $ 0.35 | |
| EPS Difference | $ 0.09 | |
| EPS Surprise | 34.615 % | |
| Forward EPS | $ 0.30 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 2.0 B | |
| Intangible Assets | $ 827.8 M | |
| Net Tangible Assets | $ 389.8 M | |
| Total Current Assets | $ 912.5 M | |
| Cash and Short-Term Investments | $ 620.9 M | |
| Cash | $ 324.3 M | |
| Net Receivables | $ 194.1 M | |
| Inventory | — | |
| Long-Term Investments | $ 21.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 20.2 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 705.9 M | |
| Net Debt | — | |
| Total Debt | $ 65.1 M | |
| Total Liabilities | $ 786.5 M | |
| EQUITY | ||
| Total Equity | $ 1.2 B | |
| Retained Earnings | $ -1.30 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 8.17 | |
| Shares Outstanding | 150.189 M | |
| Revenue Per-Share | $ 2.17 | |
| VALUATION | Market Capitalization | $ 10.1 B |
| Enterprise Value | $ 9.6 B | |
| Enterprise Multiple | 1586.874 | |
| Enterprise Multiple QoQ | -109.2 % | |
| Enterprise Multiple YoY | 162.179 % | |
| Enterprise Multiple IPRWA | PCOR: 1586.874 high: 634.148 mean: 91.222 median: 82.154 low: -577.222 |
|
| EV/R | 29.565 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.646 | |
| Asset To Liability | 2.548 | |
| Debt To Capital | 0.051 | |
| Debt To Assets | 0.033 | |
| Debt To Assets QoQ | -1.813 % | |
| Debt To Assets YoY | -14.81 % | |
| Debt To Assets IPRWA | high: 1.095 mean: 0.161 median: 0.094 PCOR: 0.033 low: 0.002 |
|
| Debt To Equity | 0.053 | |
| Debt To Equity QoQ | -2.015 % | |
| Debt To Equity YoY | -10.492 % | |
| Debt To Equity IPRWA | high: 3.008 mean: 0.299 median: 0.176 PCOR: 0.053 low: -0.874 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 8.322 | |
| Price To Book QoQ | -2.398 % | |
| Price To Book YoY | 3.333 % | |
| Price To Book IPRWA | high: 36.812 mean: 12.269 median: 10.727 PCOR: 8.322 low: -16.218 |
|
| Price To Earnings (P/E) | 200.924 | |
| Price To Earnings QoQ | -31.608 % | |
| Price To Earnings YoY | 14.425 % | |
| Price To Earnings IPRWA | high: 564.562 PCOR: 200.924 mean: 138.981 median: 130.187 low: -357.639 |
|
| PE/G Ratio | 3.851 | |
| Price To Sales (P/S) | 31.281 | |
| Price To Sales QoQ | -3.554 % | |
| Price To Sales YoY | -12.05 % | |
| Price To Sales IPRWA | high: 113.355 median: 48.199 mean: 45.708 PCOR: 31.281 low: 1.219 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 222.632 | |
| Forward PE/G | 4.267 | |
| Forward P/S | -58.504 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -5.295 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.164 | |
| Asset Turnover Ratio QoQ | 6.838 % | |
| Asset Turnover Ratio YoY | 10.826 % | |
| Asset Turnover Ratio IPRWA | high: 0.416 PCOR: 0.164 mean: 0.13 median: 0.129 low: 0.0 |
|
| Receivables Turnover | 1.821 | |
| Receivables Turnover Ratio QoQ | 19.631 % | |
| Receivables Turnover Ratio YoY | -4.655 % | |
| Receivables Turnover Ratio IPRWA | high: 4.366 PCOR: 1.821 mean: 1.42 median: 1.257 low: 0.131 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 50.099 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.568 | |
| CapEx To Revenue | -0.062 | |
| CapEx To Depreciation | -0.742 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.2 B | |
| Net Invested Capital | $ 1.2 B | |
| Invested Capital | $ 1.2 B | |
| Net Tangible Assets | $ 389.8 M | |
| Net Working Capital | $ 206.6 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.88 | |
| Current Ratio | 1.293 | |
| Current Ratio QoQ | 8.551 % | |
| Current Ratio YoY | -16.431 % | |
| Current Ratio IPRWA | high: 9.787 mean: 1.695 median: 1.335 PCOR: 1.293 low: 0.079 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 10.793 | |
| Cost Of Debt | 0.451 % | |
| Interest Coverage Ratio | -71.148 | |
| Interest Coverage Ratio QoQ | -26.023 % | |
| Interest Coverage Ratio YoY | 527.812 % | |
| Interest Coverage Ratio IPRWA | high: 181.115 median: 41.426 mean: 37.976 PCOR: -71.148 low: -372.737 |
|
| Operating Cash Flow Ratio | -0.04 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 29.791 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 2.842 % | |
| Revenue Growth | 4.277 % | |
| Revenue Growth QoQ | 50.493 % | |
| Revenue Growth YoY | -22.756 % | |
| Revenue Growth IPRWA | high: 32.808 % median: 8.562 % mean: 6.95 % PCOR: 4.277 % low: -21.897 % |
|
| Earnings Growth | 52.174 % | |
| Earnings Growth QoQ | -97.628 % | |
| Earnings Growth YoY | 73.913 % | |
| Earnings Growth IPRWA | high: 157.143 % PCOR: 52.174 % median: 5.491 % mean: 4.709 % low: -200.0 % |
|
| MARGINS | ||
| Gross Margin | 79.09 % | |
| Gross Margin QoQ | -0.011 % | |
| Gross Margin YoY | -4.807 % | |
| Gross Margin IPRWA | high: 91.297 % PCOR: 79.09 % mean: 72.313 % median: 67.98 % low: 33.069 % |
|
| EBIT Margin | -6.545 % | |
| EBIT Margin QoQ | -25.827 % | |
| EBIT Margin YoY | 247.953 % | |
| EBIT Margin IPRWA | high: 74.313 % median: 42.991 % mean: 34.319 % PCOR: -6.545 % low: -124.558 % |
|
| Return On Sales (ROS) | -9.344 % | |
| Return On Sales QoQ | 5.893 % | |
| Return On Sales YoY | 396.757 % | |
| Return On Sales IPRWA | high: 76.082 % median: 36.932 % mean: 34.082 % PCOR: -9.344 % low: -117.376 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 10.6 M | |
| Free Cash Flow Yield | 0.105 % | |
| Free Cash Flow Yield QoQ | -77.322 % | |
| Free Cash Flow Yield YoY | -77.223 % | |
| Free Cash Flow Yield IPRWA | high: 6.936 % median: 0.694 % mean: 0.529 % PCOR: 0.105 % low: -13.154 % |
|
| Free Cash Growth | -77.227 % | |
| Free Cash Growth QoQ | -100.579 % | |
| Free Cash Growth YoY | 306.244 % | |
| Free Cash Growth IPRWA | high: 278.713 % median: 25.957 % mean: 12.32 % PCOR: -77.227 % low: -316.997 % |
|
| Free Cash To Net Income | -0.504 | |
| Cash Flow Margin | -8.784 % | |
| Cash Flow To Earnings | 1.349 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -1.067 % | |
| Return On Assets QoQ | -34.5 % | |
| Return On Assets YoY | 225.305 % | |
| Return On Assets IPRWA | high: 14.05 % median: 4.609 % mean: 3.682 % PCOR: -1.067 % low: -24.058 % |
|
| Return On Capital Employed (ROCE) | -1.633 % | |
| Return On Equity (ROE) | -0.017 | |
| Return On Equity QoQ | -37.966 % | |
| Return On Equity YoY | 244.334 % | |
| Return On Equity IPRWA | high: 0.214 median: 0.079 mean: 0.07 PCOR: -0.017 low: -0.337 |
|
| DuPont ROE | -1.758 % | |
| Return On Invested Capital (ROIC) | -1.708 % | |
| Return On Invested Capital QoQ | 22.701 % | |
| Return On Invested Capital YoY | -397.043 % | |
| Return On Invested Capital IPRWA | high: 14.534 % median: 6.508 % mean: 5.552 % PCOR: -1.708 % low: -13.655 % |
|