Procore Forecasts Q4 Revenue of $340.8M with Slower 12.8% Growth and $0.36 EPS
Procore Technologies expects Q4 revenue of $340.8 million, a 12.8% year-over-year increase, versus 16.2% growth in the same period last year, with analysts forecasting adjusted EPS of $0.36. The company added 122 customers last quarter and has outpaced revenue forecasts by an average of 3.1% over the past two years.
1. Q4 Revenue and Earnings Outlook
Procore is projected to report Q4 revenue of $340.8 million, marking a 12.8% increase year on year, compared with 16.2% growth last year. Analysts expect adjusted earnings of $0.36 per share, reflecting a modest deceleration in top‐line expansion.
2. Historical Beat of Estimates
In the prior quarter, the company delivered $338.9 million in revenue, surpassing analysts’ forecasts by 3.3% and adding 122 new customers for a total of 17,623. Over the past two years, Procore has exceeded revenue estimates every quarter by an average of 3.1%.
3. Peer Performance and Market Trends
Peers in the vertical software segment reported mixed results, with Dolby Laboratories down 2.9% in revenue yet beating estimates by 4.4%, and PTC achieving 21.4% revenue growth, topping forecasts by 8.2%. Vertical software shares have fallen 16.8% on average in the last month, and Procore is 28.8% lower over the same period, heading into earnings with an average target of $83.89.