Procore Technologies Reports Fourth Quarter Loss, Misses Estimates
CARPINTERIA, Calif. - Procore Technologies Inc. (PCOR) reported a fourth-quarter loss on Thursday, missing Wall Street expectations.
The Carpinteria, California-based company reported a loss of $62.3 million, or 42 cents per share. Adjusted for one-time items, earnings reached 1 cent per share.
Analysts polled by Zacks Investment Research had estimated earnings of 11 cents per share.
Revenue, however, exceeded forecasts, reaching $302 million. This figure surpassed the $297.7 million predicted by Zacks.
For the full year, Procore Technologies reported a loss of $106 million, or 72 cents per share. Revenue for the period totaled $1.15 billion.
Looking forward, the company anticipates revenue in the range of $301 million to $303 million for the current quarter ending in March. Full-year revenue is projected to reach $1.29 billion.