Procore Technologies, Inc.

Procore Announces Collaboration with IBM Focused on Enhancing Asset Lifecycle Management for Capital Project Owners and Operators

Procore announced a collaboration with IBM at its Groundbreak 2026 conference to connect Procore Asset Management with IBM's Maximo enterprise asset management suite. The partnership aims to create a unified digital thread across the fixed asset lifecycle, closing the data gap between construction handover and operations for capital project owners. No financial terms were disclosed; the collaboration is strategic positioning for Procore in the owner/operator segment. Procore Asset Management is available today, while forward-looking functionality is explicitly not committed.

•4d ago

Procore Collaborates with NVIDIA to Deliver Advanced Digital Twin Capabilities to Predict and Minimize Risks for Megaprojects

Procore announced at Groundbreak 2026 the next phase of its NVIDIA collaboration, bringing NVIDIA Omniverse-powered digital twin capabilities to complex construction projects, currently in closed beta. The integration lets teams visualize projects in realistic 3D, simulate conditions like extreme weather, and compare DroneDeploy reality capture against designs to catch problems before costly rework. Management framed the opportunity around a projected ~$7 trillion data center buildout by 2030, positioning Procore's platform for the megaproject planning cycle; no commercial terms or revenue impact were disclosed.

•4d ago

Procore Launches Voice-First AI Mobile App Built for the Jobsite

Procore launched Procore AI Go, a voice-first mobile app now in open beta that gives construction crews spoken answers from their project data on the jobsite. Procore is also partnering with Meta to explore bringing the app to AI glasses in closed beta, enabling hands-free information access and first-person photo capture. The launch deepens Procore's AI 'system of intelligence' strategy and is included across existing Digital Coworker packages, but no financial impact or adoption figures were disclosed.

•4d ago

Procore Names COMPASS Its Preferred Subcontractor Prequalification Solution

Procore has named COMPASS by Bespoke Metrics its preferred subcontractor prequalification solution, launching Prequal for All and making it available to all Procore customers today. The expanded partnership integrates COMPASS risk data — including its Q Score (Construction Credit Score) — directly into Procore's platform, with COMPASS among the first partners connected via Model Context Protocol and an agentic COMPASS Risk Agent expected later this year. The COMPASS network spans 400+ general contractors and 150,000+ subcontractors across 33 countries, representing more than $1 trillion in annual construction volume. For Procore, the deal deepens the platform's risk-management value proposition, though no financial terms were disclosed.

•10d ago

Procore Introduces Asset Register Within Asset Management to Simplify Handover from Contractor to Owner

Procore Technologies announced the general availability of Asset Register, a new feature within its Asset Management platform designed to streamline the digital handover process from contractors to owners. The tool continuously captures and organizes asset data throughout the construction lifecycle, creating a connected data foundation that supports the company's AI agents and reduces manual documentation. By providing verified asset records from the start, Asset Register aims to accelerate commissioning and support regulatory compliance, including the 'Golden Thread' requirements in EMEA.

•2mo ago

Procore Technologies, Inc. Announces Pricing of Upsized $825.0 Million Offering of Convertible Senior Notes

Procore Technologies priced an upsized $825 million offering of 0.00% convertible senior notes due 2031, increasing the size from the previously announced $750 million. The company intends to use the net proceeds to pay for the acquisition of DroneDeploy, cover the cost of capped call transactions, and repurchase approximately $175 million of its common stock concurrently. The initial conversion price is set at $82.89 per share, representing a 50% premium over the last reported sale price, which limits immediate dilution relative to the stock's current trading level.

•2mo ago

PCOR: 10-Q · periodic report

Procore reported strong fiscal second quarter 2026 results, with revenue increasing 16% year-over-year to $375.2 million driven by robust demand from both new and existing customers. The company achieved a significant milestone by generating net income of $16.9 million, or $0.11 per share, reversing a net loss of $21.1 million from the same period last year. Operational metrics remained healthy as total remaining performance obligations grew 24% to $1.67 billion, providing solid visibility into future revenue. The company continued to return capital to shareholders, repurchasing $100 million of common stock during the first half of the fiscal year under its $300 million authorization program. Following the quarter end, Procore entered into a definitive agreement to acquire DroneDeploy for approximately $845 million in cash, signaling a strategic push into reality capture and robotics. To fund the transaction, the company secured a $700 million debt commitment letter from Goldman Sachs Bank USA, supplementing its existing cash position of $494 million.

SEC 10-Q•2mo ago

Procore Announces Second Quarter 2026 Financial Results

Procore reported Q2 revenue of $375 million, up 16% year-over-year, and achieved GAAP operating profitability for the first time with a 1% margin. Free cash flow generation increased 507% year-over-year to $65 million, driven by strong operating cash inflow of $88 million. The company raised FY26 revenue guidance to $1.51B-$1.514B and set a FY27 non-GAAP operating margin target of 25%.

•2mo ago

Procore to Acquire DroneDeploy, Creating Next-Generation Platform That Sees, Understands, and Acts on the Jobsite

Procore Technologies announced a definitive agreement to acquire DroneDeploy for approximately $845 million in cash, aiming to integrate robotics and visual intelligence into its construction management platform. The deal combines Procore's project data with DroneDeploy's reality capture capabilities, utilizing AI to enable automated observations and actions on the jobsite. The transaction is expected to close later this year subject to regulatory approvals, with plans for immediate cross-selling of solutions to both customer bases.

•2mo ago

Procore Introduces Digital Coworker Packages, Expands AI Agent Library, and Previews Skills to Help Construction Teams Put AI to Work

Procore Technologies launched three new Digital Coworker packages—Starter, Pro, and Enterprise—designed to help construction organizations adopt and scale AI at various stages of maturity. The company also expanded its AI agent library to 20 agents, including new tools for site safety, schedule analysis, and change management. A new feature called Procore Skills allows organizations to teach the AI their specific processes and standards, while the Control Tower provides administrators visibility into usage and costs. Early adopter Haskell reported reducing submittal review times from seven days to just 10 minutes using Procore AI. The new packages are generally available now, with the Skills feature rolling out in August. The launch reinforces Procore's focus on embedding AI into construction workflows to reduce administrative burden.

•3mo ago

Procore Introduces New Suite of Portfolio Management and Capital Planning Capabilities for Owners, Powered by Procore AI

Procore introduced a new suite of portfolio management and capital planning capabilities for owners, integrating Procore AI to enhance visibility and decision-making across the asset lifecycle. These tools allow owners to manage projects from concept to operations, replacing fragmented systems with a unified platform designed to identify risk earlier and improve governance. Owners Hub, Portfolio Monitoring, and Concept Projects are currently in beta, with general availability slated for summer and late 2026.

•4mo ago

Procore Redefines the Common Data Environment with Connected Data and Agentic AI

Procore launched its Connected Common Data Environment (CDE), a unified platform integrating project data, workflows, and BIM models to support agentic AI in construction. The release highlights industry research showing firms with optimized data practices achieve 23% higher productivity and 27.8% greater construction volume, positioning Procore’s solution as critical for AI adoption and compliance. Procore AI, embedded with Datagrid capabilities, aims to automate administrative workflows like RFI creation and submittal review, with customer Buro Happold projecting a 50% reduction in construction administration work.

•4mo ago

New Procore AI Experience Embeds Datagrid into Procore

Procore launched an expanded AI experience featuring 'agentic AI' coworkers that execute construction workflows directly within the platform, moving beyond traditional chatbots. The new capabilities are powered by Datagrid’s multimodal index, allowing agents to reason across drawings, specs, and photos while maintaining enterprise-grade security. Early beta tests with customers like Level 10 Construction showed significant efficiency gains, including saving 12 hours of work on submittal reviews and catching critical errors to avoid delays.

•5mo ago

Procore Appoints Distinguished AI and Academic Leader Vishal Misra to Board of Directors

Procore appointed Vishal Misra to its Board of Directors, leveraging his deep AI expertise and background as a technology founder to drive innovation in construction management software. Misra currently serves as a professor and Vice Dean of Computing and AI at Columbia University and has founded several technology companies, including Infinio and AskHereFirst. The appointment aligns with Procore's strategy to enhance its AI-powered platform and strengthen its market leadership in the construction industry.

•6mo ago