Sean Anthony Eddy
Summary
- Procore surpasses $1 billion in ARR in FY 2023.
- PCOR’s stock has seen ups and downs since going public, currently trading slightly below debut price.
- Enactment of IRA, infrastructure bills, and CHIPS act could lead to a construction “gold rush”, accelerating demand for PCOR offerings.
Procore Technologies, Inc. (NYSE:PCOR) is a construction management software company that offers a cloud-based platform to help construction companies manage their projects more efficiently. The platform includes tools for project management, quality and safety, financial management, and more. In FY 2023, PCOR surpassed the $1 billion ARR mark.
Procore generates revenue through subscriptions to its product, offering unlimited users to encourage all project participants to use the platform. Though it offers fixed pricing, the total price is partly determined by the construction volume managed on the PCOR platform.
READ FULL ARTICLE HERE!
