Slides
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1 2025 Investor Q&A Session HOUSTON, TX - 10.16.25
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AGENDA Thursday, October 16 | 9am - 11am CT 9:00a - 9:05am Opening Remarks Alexandra Geller - Head of Investor Relations 9:05a - 9:30am Future of Construction Steve Davis - President, Product & Technology 9:30a - 10:00am Platform Innovations Geoff Lewis- Senior Vice President, Product Management 10:00a - 10:03am Meet Ajei Ajei Gopal - Chief Executive Officer Designate 10:03a - 11:00am Product Q&A Tooey Courtemanche - Founder, President, & Chief Executive Officer Steve Davis - President, Product & Technology Geoff Lewis - Senior Vice President, Product Management
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DISCLAIMER Forward-Looking Statements This presentation and the accompanying oral commentary contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about Procore Technologies, Inc. (“Procore”) and its plans, products, services, and industry that involve substantial risks and uncertainties. All statements in this presentation and the accompanying oral commentary, other than statements of historical fact, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events, future financial or operating performance, future financial metrics and targets, Procoreʼs total addressable market, projections of product, service, or feature availability, new, planned, or upgraded products, services, or features, or plans to monetize products, services, or features. Forward-looking statements may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words, or other similar terms or expressions that concern Procoreʼs expectations, strategy, plans, or intentions. Any statements regarding or relating to unreleased products, services, or features, or any products, services, or features that have been released or are available now but have not yet been made generally available (collectively, “In Process Products”), referenced in this presentation or the accompanying oral commentary are forward-looking statements, including, but not limited to, statements regarding or relating to: Helix and other artificial intelligence capabilities within Procoreʼs products or services, including Agents, Agent Builder, Agent Marketplace, Developer Studio, Portfolio Intelligence, and Safety 2.0; Assets; certain BIM features; Connect; Materials; Procore for Government and FedRAMP®, including Procoreʼs status relating thereto; Safety Hub; Scheduling; and certain planning, funding, and portfolio management features. In Process Products may not currently be available, may only be available in limited or “beta” form, and may not be developed, delivered, or made generally available on time or at all. In addition, Procore has not decided whether, or how much, to charge for In Process Products, and reserves the right to do so in Procoreʼs sole discretion. As a result, customers who purchase Procoreʼs products or services should make their purchase decisions based solely upon features that are currently generally available, and not upon any expectations with respect to In Process Products. Procore has based the forward-looking statements contained in this presentation and the accompanying oral commentary primarily on its current expectations and projections about future events and trends that Procore believes may affect its business, financial condition, and operating results. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors that could cause results, events, or circumstances to differ materially from Procoreʼs current expectations, including, but not limited to, Procoreʼs expectations regarding its financial performance (including revenues, expenses, and margins, and its ability to achieve or maintain future profitability), Procoreʼs ability to effectively manage its growth, anticipated performance, trends, growth rates, and challenges in its business and in the markets in which Procore operates or anticipates entering into, economic and industry trends (in particular, the rate of adoption of construction management software and digitization of the construction industry, inflation, interest rates, tariffs, and challenging geopolitical or macroeconomic conditions), Procoreʼs progress with respect to its go-to-market transition and its ability to realize the expected benefits of the transition, Procoreʼs ability to develop or deliver new products, platform capabilities, services, and features and to enhance existing products, platform capabilities, services, and features in an efficient and timely manner and get its customers and prospective customers to adopt such new or enhanced products, platform capabilities, services, or features, Procoreʼs ability to attract new customers and retain and increase sales to existing customers, Procoreʼs ability to continue to expand internationally, the effects of increased competition in Procoreʼs markets and Procoreʼs ability to compete effectively, Procoreʼs estimated total addressable market and Procoreʼs ability to capture that market, Procoreʼs ability to execute, and realize benefits from, its stock repurchase program, Procoreʼs ability to effectively manage its CEO transition, and as set forth in Procoreʼs filings with the Securities and Exchange Commission, including in the section titled “Risk Factorsˮ in Procoreʼs Annual Report on Form 10K for the year ended December 31, 2024, filed on February 26, 2025, as updated by Procoreʼs Quarterly Report on Form 10Q for the quarter ended June 30, 2025, filed on August 1, 2025. In addition, statements such as “we believeˮ and similar statements reflect Procoreʼs beliefs and opinions on the relevant subject. While Procore believes that there is information that provides a reasonable basis for such statements, that information may be limited or incomplete. Procoreʼs statements should not be read to indicate that it has conducted an exhaustive inquiry into, or review of, all relevant information. You should not rely on Procoreʼs forward-looking statements. Procore assumes no obligation to update any forward-looking statements to reflect events or circumstances that exist or change after the date on which they were made, except as required by law. Market and Industry Data This presentation also contains estimates and information concerning Procoreʼs industry that are based on industry publications and reports. This information involves a number of assumptions and limitations, and investors are cautioned not to give undue weight to such estimates. Procore has not independently verified the accuracy or completeness of the data contained in these industry publications and reports. Trademarks The logos and trademarks in this presentation are the property of their respective owners and are used for reference purposes only.
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PRESIDENT, PRODUCT & TECHNOLOGY Steve Davis
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AIʼs Profound Impact on Construction
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Connected Platform Our foundation serves as the building blocks for a truly connected platform that accelerates our pace of innovation, enables us to capture the rapid growth of AI, delivers a seamless and improved user experience, and extends our platform to our partner ecosystem. THE BUILDING BLOCKS With our unlimited user model, Procore has a comprehensive and unmatched dataset of proprietary construction data Our Procore HELIX strategy combined with our data graph for context and connections supercharges our AI strategy A connected shared platform strategy enables rapid product acceleration and new partner opportunities Platform security & governance are supporting areas of growth around Federal, State and AI transparency requirements Critical orchestration layer that connects all construction stakeholders across the project lifecycle
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Rapid Pace of Innovation Our investments in the platform have accelerated our pace of innovation, enabling us to deliver and launch features at a rapid pace. 20,000+ UserVoice Votes Resolved, 2x The Prior Year Materials Agents 400+ Features Launched Since Groundbreak ‘24
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BuildingWith Us Standardized on a fast lane through Procore Explore for customers who want to build and innovate with us in a managed way.
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01 Procore Helix Procore Helix is our construction intelligence layer comprised of AI, analytics, and agentic workflows — a data-driven intelligence engine, purpose-built for decision confidence on and off the field. PRODUCTS Assist (GA) Analytics (GA) Automations (GA) Agents (In Open Beta) Agent Builder (In Open Beta) Developer Studio (Coming 2026) 360 Reporting (GA) Insights & Benchmarks (GA) Portfolio Intelligence (In Closed Beta) FOUNDATIONS Generative AI Models Reporting & Analytics Data Models Cloud Connector (GA) Construction Graph Domain-relevant ML models 04 02 05 03Predictive Models
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Procore Agents Weʼre laying the groundwork with agents, digital teammates embedded across the platform to streamline workflows, automate tasks, and surface advanced insights. Photos Agent Submittals Agent Jobsite Setup Agent Insights Agent Project Progress Update Incident Report Agent Action Item Generator Daily Log Agent Foremans Morning Briefing RFI Reviewer Agent RFI Creation Agent RFI to Change Event Budget Analysis Agent Drawings Agent Reporting Agent Safety Agent Quality Agent Visual Dashboard Agent Invoice Agent
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DEVELOPER STUDIO (Future) CONFIDENTIAL AND SUBJECT TO NDA | 11 AGENT BUILDERAGENTSASSIST Conversational AI for intelligent search and chat, delivers contextually relevant answers on-demand Assist Assist Job-specific agents manages tasks, reports, and alerts to offload repetitive and time-consuming work Custom agentic workflows create a system of agents that auto-execute workflows that meet your custom needs Knowledge integration with agents that span across services, APIs and MCPs to capture and expand construction expertise Procore HelixEvolution
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Power of Developer Studio Developer Studio, our integration platform, will connect thousands of systems to orchestrate transactional workflows, evolving from manual approvals to AI-driven, complex agent-based automation across Procore.
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Advanced Orchestration
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Agent Marketplace
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Adoption Before Monetization BY THE NUMBERS 2,000+ 14,000+ 170 Customers Using Assist Monthly Active Assist Users & Growing We intend to monetize Procore Helix in the future, but our near-term priority is to get Helix in the hands of our customers first, improve their operations, assess value and then monetize accordingly. Agents Created By Customers During Hackathons
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Our Category Leadership Procoreʼs foundation and commitment to innovation enable us to generate strong ROI for our customers and serve as distinct competitive advantages. Recognized industry leader in Construction technology, a massive and underdigitized industry Unified end-to-end Construction platform with rapid delivery and continued innovation Constructionʼs preferred and trusted partner Mission-critical system of record, engagement and orchestration with a connected platform which enables Procore Helix to generate value and AI solutions
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SVP, PRODUCT MANAGEMENT GeoffLewis
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Owners Scheduling 2.0 Resource Management Platform InnovationDeep Dives European Innovations
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BY THE NUMBERS 25% 3,200+ 34 of Total ARR Customers Owners With $1M+ ARR ~3% Penetration (~100K global owners in Active GTM Countries) Note: All data as of June 30, 2025. “ARRˮ refers to annual recurring revenue and “Total ARRˮ refers to total annual recurring revenue. Number of $1M ARR customers is based on customer count. Penetration rate reflects our customer count as of June 30, 2025, as a percentage of the total estimated number of logos in Procoreʼs addressable markets for Owners with at least $2.5M of annual construction volume, where the number of “capturedˮ customers is defined as the aggregate number of entities (i) that have entered into one or more subscriptions with us that have recurring charges for which the term has not ended as of June 30, 2025, or (ii) with which we are negotiating a subscription renewal. Active go-to-market-GTM countries are countries where we are actively pursuing new customers and do not include countries where we only sell via inbound demand. Penetration rate estimate is based on Procore calculations using data from the U.S. Census Bureau, Frost & Sullivan, and D&B Hoovers. Refer to the appendix for the definitions of customer count, annual recurring revenue, and total annual recurring revenue. The Owner Opportunity Owners span most major industries. We have seen early success across corporations (ie Fortune 1000), energy, utilities, education and healthcare.
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Plan Clarity & Control Build Real-Time Risk Management Operate Deliver with Confidence One Source of Truth Across Owner Portfolio
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Owner Innovations
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Resource Management
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EquipmentManagement
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QR Codes Images
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MaterialsManagement
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Europe Platform Innovations
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Europe Platform Innovations ` Document Control (2D) ISO 19650 -1 and ISO 19650 - 2 Assets ISO 19650 - 3 and ISO 55000 Project Management & Quality (Field) ISO 9001 and ISO 45001 Procore Platform | Procore Helix (AI, Agents, Analytics, Reporting) BIM (3D) ISO 19650 - 4 Add-on Solutions: ● Safety Mgmt ● Cost Mgmt. ● Resource Mgmt. +
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Key Takeaways Category Leader Our leading platform, trusted industry partnership, and singular focus on digital transformation of the construction industry will continue to deliver strong customer ROI. Connected Platform Our foundation was intentionally built to deliver a truly connected platform, which serves as a competitive advantage while also generating value and AI solutions. Power of Procore Helix Helix is powered by real construction data centralized on a unified platform to put intelligence and automation directly into the hands of customers, helping to drive unprecedented productivity and efficiency for every project.
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CEO DESIGNATE AjeiGopal
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ProductQ&A
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Appendix
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REFERENCES & DEFINITIONS ANNUAL RECURRING REVENUE ARR We define ARR at the end of a particular period as the annualized dollar value of our subscriptions from the specified customer or customers as of such period end date. For multi-year subscriptions, ARR at the end of a particular period is measured by using the stated contractual subscription fees as of the period end date on which ARR is measured. For example, if ARR is measured during the first year of a multi-year contract, the first-year subscription fees are used to calculate ARR. ARR at the end of a particular period includes the annualized dollar value of subscriptions for which the term has not ended, and subscriptions for which we are negotiating a subscription renewal. ARR should be viewed independently of revenue determined in accordance with GAAP and does not represent our U.S. GAAP revenue on an annualized basis. ARR is not intended to be a replacement or forecast of revenue. CUSTOMER COUNT We define the number of customers at the end of a particular period as the number of entities that have entered into one or more subscriptions with us that have recurring charges for which the term has not ended, or with which we are negotiating a subscription renewal. An entity with multiple subsidiaries, segments, or divisions, is defined and counted as a single customer, even if there are multiple separate subscriptions. Customer count metrics exclude customers acquired from business combinations that do not have standard Procore annual contracts. TOTAL ADDRESSABLE MARKET TAM We view the construction industryʼs ACV as the primary factor informing our TAM because our revenue is driven by the value of the ACV that our customers have contracted to run on the Procore platform, and because changes in ACV are generally correlated with our revenue and growth opportunity. Our estimate of global construction ACV as of 2030 is based on a projection developed by Oxford Economics (see Oxford Economics: Future of Construction September 2021, estimated global construction spend in 2030. TOTAL ANNUAL RECURRING REVENUE TOTAL ARR We define Total ARR as the aggregate ARR across all given customer contracts in a referenced customer cohort.