Procore Technologies Reports Strong Q3 2026 Results Driven by Organic Growth and DroneDeploy Acquisition
Procore Technologies (PCOR) delivered a robust third quarter for fiscal year 2026, reporting revenue of $402 million, a 19% increase year-over-year. The company's performance was bolstered by strong bookings and the strategic acquisition of DroneDeploy, which contributed to an acceleration in current remaining performance obligations (CRPO) growth to 28.9%. Operating efficiency remained high as non-GAAP operating margins reached 23.5%, exceeding management guidance by 400 basis points. Despite near-term margin headwinds from the DroneDeploy acquisition, Procore raised its full-year revenue guidance and demonstrated significant international expansion with a 30% growth rate in overseas markets. The company also highlighted increased internal efficiency through AI integration, noting that 80% of its internal code is now AI-generated.
Topics: acquisition CRPO free cash flow operating margin revenue growth