In ‘transition year,’ Procore reports growth in both revenue and net losses
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Procore’s revenue and losses both grew in Q3
Carpinteria-based Procore Technologies saw its losses continue to mount but its revenue continue to accelerate when the company released its financial results for the third quarter of 2021 on Nov. 4. Procore, a construction software management company, had revenue increase 30% year-over-year, to $132 million in the third quarter of 2021, as the company lso Read More →
Procore announces second recent acquisition
Procore Technologies secured its second acquisition in as many months when the Carpinteria-based construction software company announced on Oct. 22 it had acquired LaborChart. Financial details were not disclosed for this deal, and a timeline of when it would close was also not provided. Procore did say, however, that the acquisition would not have any Read More →
Procore makes its biggest acquisition yet
Procore Technologies announced its first acquisition since going public in May, and it’s the largest one in company history. The Carpinteria-based construction software company said on Sept. 22 that it is purchasing Levelset, a New Orleans-based construction software company, for $500 million: $425 million in cash and $75 million in the form of Procore common Read More →
Procore posts loss in first post-IPO quarter
In its first earnings report since going public, Procore Technologies, a Carpinteria-based software company for the construction industry, delivered record revenue growth, but rising operating costs hurt overall earnings. Revenue rose 27.7% for the quarter ended June 30, the company reported on Aug. 5. Procore generated $122.8 million, up from $96.5 million in the same Read More →
Procore expands into Middle East and North Africa
Procore Technologies, a Carpinteria-based company that provides software to the construction industry, announced an expansion into the Middle East and North Africa on July 6. The effort will be undertaken in partnership with Mubadala Investment Company, a sovereign investor for the government of Abu Dhabi that owns shares in Procore. “The construction sector in the Read More →
Procore goes public, stock jumps 34%
Editor’s note: This article was updated after the market closed at 1 p.m. to reflect Procore’s closing price. Carpinteria-based Procore Technologies began trading on the New York Stock Exchange on May 20 and saw its share price shoot up 33.7% on its first day, to close at $89.59. Procore priced shares of its initial public Read More →
