Procore's Q3 revenue beats, helped by DroneDeploy acquisition; lifts FY outlook
PCOR•Procore's Q3 revenue rose 19% year over year to $402.31 million, beating the $383.93 million consensus estimate. The company raised its 2026 revenue outlook to $1.557 billion-$1.559 billion and authorized a new $300 million stock repurchase program.
1. Revenue and results
Procore reported Q3 revenue of $402.31 million, up 19% year over year and above the $383.93 million analyst consensus. Its non-GAAP operating margin was 23%; it reported a net loss of $4.59 million and a loss per share of $0.03.
2. Outlook and drivers
Procore expects Q4 revenue of $420 million-$422 million and raised its full-year 2026 revenue outlook to $1.557 billion-$1.559 billion. It forecasts a 25% non-GAAP operating margin in 2027. The company said the DroneDeploy acquisition contributed two percentage points to revenue growth, and reported a 95% gross revenue retention rate for Q3.
3. Repurchase authorization
The board authorized a new $300 million stock repurchase program. CEO Ajei Gopal said new capabilities across flagship products and the general availability of Procore AI contributed to Q3 results.
