Procore reports Q3 EPS 24c, consensus 22c

Reports Q3 revenue $295.9M, consensus $287.6M. Reports Q3: Achieved a gross revenue retention rate of 94% in the third quarter. Number of organic customers contributing more than $100,000 of annual recurring revenue totaled 2,261 as of September 30, 2024, an increase of 18% year-over-year. Added 225 net new organic customers in the third quarter, ending with a total of 16,975 organic customers. “We have made good progress on our go-to-market transition we announced last quarter,” said Tooey Courtemanche, Founder, President, and CEO of Procore (PCOR). “We believe this evolution will position us to become a multi-billion revenue company, while building deep and lasting partnerships with our customers.”