Procore Reports Accelerated Third Quarter Revenue Growth and Completes DroneDeploy Acquisition
Procore (PCOR) reported strong third-quarter 2026 financial results, highlighted by an acceleration in organic revenue growth to 17.1% year-over-year. The company successfully completed the $845 million cash acquisition of visual intelligence platform DroneDeploy, a move intended to integrate site imagery with construction data to enhance project verification capabilities. Driven by large deal execution and expanding contract sizes among general contractors, Procore also saw international revenue surge by 30% year-over-year. The company is increasingly leveraging artificial intelligence to deploy automated tools that address labor shortages in the construction sector. Following these results, management raised full-year guidance and is targeting a 25% non-GAAP operating margin for fiscal 2027.
Tickers: $PCOR
Topics: artificial intelligence cloud software earnings report mergers and acquisitions