{"id":79875,"date":"2023-11-02T14:20:23","date_gmt":"2023-11-02T18:20:23","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/procore-technologies-reports-33-yoy-revenue-growth-exceeding-expectations\/"},"modified":"2023-11-02T14:20:27","modified_gmt":"2023-11-02T18:20:27","slug":"procore-technologies-reports-33-yoy-revenue-growth-exceeding-expectations","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=79875","title":{"rendered":"Procore Technologies reports 33% YoY revenue growth, exceeding expectations"},"content":{"rendered":"
\n
\n

\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

Procore Technologies <\/span><\/span> (NYSE:), a key player in the Panama Canal expansion and a provider of interactive design software and metaverse-related experiences reported a Year-on-Year (YoY) revenue increase of 33% to $247.9 million in Q3 FY2023. This performance surpassed analysts’ expectations, marking a re-acceleration in the company’s revenue growth.<\/p>\n

The company’s revenue for the third quarter saw a Quarter-on-Quarter (QoQ) increase of $19.4 million. Procore Technologies anticipates its Q4 2023 revenue to be around $248 million, which is slightly below estimates. The company’s GAAP loss improved from last year\u2019s $0.52 per share to $0.31 per share this quarter, with a non-GAAP EPS of $0.09 against an estimated -$0.05.<\/p>\n

Procore Technologies also witnessed a significant improvement in free cash flow, moving from -$23.6 million to $22.5 million. The company’s customer base expanded as well, growing to 16,067 from 15,704 customers. Additionally, the GAAP gross margin rose to 82.2% from 79.8% in the same period.<\/p>\n

Sales have also seen considerable growth, rising from $132 million in Q3 FY2021 to $247.9 million this quarter. This growth underscores Procore’s successful strategies in catering to the increasing demand for interactive design software and metaverse-related experiences, as well as their significant role in large-scale projects like the Panama Canal expansion.<\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Procore Technologies (NYSE:), a key player in the Panama Canal expansion and a provider of interactive design software and metaverse-related experiences reported a Year-on-Year (YoY) revenue increase of 33% to $247.9 million in Q3 FY2023. This performance surpassed analysts’ expectations, marking a re-acceleration in the company’s revenue growth. The company’s revenue for the […]<\/p>\n","protected":false},"author":1,"featured_media":2403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-79875","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nProcore Technologies reports 33% YoY revenue growth, exceeding expectations | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. Procore Technologies (NYSE:), a key player in the Panama Canal expansion and a provider of interactive design software and metaverse-related\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=79875\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Procore Technologies reports 33% YoY revenue growth, exceeding expectations | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters. Procore Technologies (NYSE:), a key player in the Panama Canal expansion and a provider of interactive design software and metaverse-related\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=79875\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-02T18:20:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-02T18:20:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/LYNXNPEC0E0NG_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=79875#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=79875\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Procore Technologies reports 33% YoY revenue growth, exceeding expectations\",\"datePublished\":\"2023-11-02T18:20:23+00:00\",\"dateModified\":\"2023-11-02T18:20:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=79875\"},\"wordCount\":230,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=79875#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=79875\",\"url\":\"https:\/\/ifintechworld.com\/?p=79875\",\"name\":\"Procore Technologies reports 33% YoY revenue growth, exceeding expectations | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-11-02T18:20:23+00:00\",\"dateModified\":\"2023-11-02T18:20:27+00:00\",\"description\":\"\u00a9 Reuters. Procore Technologies (NYSE:), a key player in the Panama Canal expansion and a provider of interactive design software and metaverse-related\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=79875#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=79875\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=79875#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Procore Technologies reports 33% YoY revenue growth, exceeding expectations\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Procore Technologies reports 33% YoY revenue growth, exceeding expectations | iFintechWorld","description":"\u00a9 Reuters. Procore Technologies (NYSE:), a key player in the Panama Canal expansion and a provider of interactive design software and metaverse-related","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=79875","og_locale":"en_US","og_type":"article","og_title":"Procore Technologies reports 33% YoY revenue growth, exceeding expectations | iFintechWorld","og_description":"\u00a9 Reuters. Procore Technologies (NYSE:), a key player in the Panama Canal expansion and a provider of interactive design software and metaverse-related","og_url":"https:\/\/ifintechworld.com\/?p=79875","og_site_name":"iFintechWorld","article_published_time":"2023-11-02T18:20:23+00:00","article_modified_time":"2023-11-02T18:20:27+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/LYNXNPEC0E0NG_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=79875#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=79875"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Procore Technologies reports 33% YoY revenue growth, exceeding expectations","datePublished":"2023-11-02T18:20:23+00:00","dateModified":"2023-11-02T18:20:27+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=79875"},"wordCount":230,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=79875#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=79875","url":"https:\/\/ifintechworld.com\/?p=79875","name":"Procore Technologies reports 33% YoY revenue growth, exceeding expectations | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-11-02T18:20:23+00:00","dateModified":"2023-11-02T18:20:27+00:00","description":"\u00a9 Reuters. Procore Technologies (NYSE:), a key player in the Panama Canal expansion and a provider of interactive design software and metaverse-related","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=79875#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=79875"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=79875#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Procore Technologies reports 33% YoY revenue growth, exceeding expectations"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/79875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=79875"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/79875\/revisions"}],"predecessor-version":[{"id":79876,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/79875\/revisions\/79876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/2403"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=79875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=79875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=79875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}