Procore Beats Revenue Estimates Despite Loss
Contractors weighing construction software should compare Procore's adjusted results against its GAAP loss before committing to platform contracts.
Updated on Nov. 3, 2026 in Construction
Procore Technologies reported a third-quarter net loss of $4.6 million, or 3 cents per share, while beating Wall Street revenue expectations with $402.3 million. The construction management software maker, based in Carpinteria, California, also issued fourth-quarter and full-year guidance for construction-industry software buyers and investors to weigh.
Why it matters
Procore's results show a construction software vendor growing revenue faster than analysts expected even while still posting a GAAP loss, which matters to contractors and builders evaluating platform vendors. The beat on revenue against a $383 million analyst estimate signals continued demand for construction management tools across the sector.
Procore booked $402.3 million in third-quarter revenue against a six-analyst Zacks average of $383 million, and adjusted earnings of 51 cents per share beat a seven-analyst average of 45 cents. The company still recorded a $4.6 million net loss, or 3 cents per share, on a GAAP basis.
The players
Procore Technologies
Construction management software company based in Carpinteria, California, selling project management and collaboration platforms to contractors and builders.
Zacks Investment Research
Independent equity research firm that aggregates analyst estimates used as a benchmark for public company earnings and revenue expectations.
The details
Adjusted earnings exclude one-time gains and costs, which is why the adjusted figure of 51 cents per share sits well above the reported loss of 3 cents per share. Revenue beat expectations by roughly $19 million, and the company guided fourth-quarter revenue to $420 million to $422 million and full-year revenue to $1.56 billion. For operators, the gap between adjusted and GAAP results is the line to read carefully when comparing vendor financials.
Timeline
Third-quarter results were reported on November 3, 2026.
Fourth-quarter revenue is guided to $420 million to $422 million for the quarter ending December 2026.
Market Landscape
Measured against the Zacks Investment Research consensus, Procore beat on both revenue and adjusted earnings this quarter, placing it above analyst expectations in construction software. The result sits within a sector where contractors are still adopting cloud-based project management tools.
Contractors evaluating construction management software should compare vendor revenue and adjusted earnings against GAAP results before committing to multi-year platform contracts. Procurement and finance teams should track whether vendors sustain guided revenue growth, since vendor stability affects long-term software planning.
The takeaway
Read a vendor's adjusted and GAAP results side by side before treating a headline beat as evidence of profitability. Calendar the fourth-quarter guidance range of $420 million to $422 million and check it against reported results when they are released.
What happens next
Procore is expected to report fourth-quarter and full-year results against the guidance it has issued, with the $420 million to $422 million fourth-quarter revenue range and $1.56 billion full-year target serving as the benchmarks.
Further reading
For the wider backdrop, see our Construction coverage of how contractors are adopting software and financial pressures across the sector.
Source note: This article includes information reported by WTOP.
