PCORMEDIUM SIGNALOPERATIONAL10-K

PCOR introduced bundled product packages and agentic AI capabilities while demonstrating strong operational cash flow generation and steady revenue growth.

The company's shift to four bundled packages (Project Execution, Cost Management, Resource Management, and Project Lifecycle Management) represents a strategic product restructuring that could improve pricing power and customer retention. The addition of agentic AI capabilities positions PCOR to capitalize on automation trends in construction workflows, potentially differentiating its platform from competitors.

Comparing 2026-02-24 vs 2025-02-26View on EDGAR →
FINANCIAL ANALYSIS

PCOR delivered solid financial performance with revenue growing 14.8% to $1.3B and gross profit expanding 11.2% to $1.1B, indicating healthy business fundamentals. Operating cash flow grew substantially to $300.3M, demonstrating strong cash generation capabilities. However, total liabilities increased 20.1% to $976.8M and current liabilities rose 21.5% to $884.6M, suggesting higher working capital requirements or operational investments accompanying the growth.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+53.1%
$196.2M$300.3M

Operating cash flow surged 53.1% — exceptional cash generation, highest quality earnings signal.

Current Liabilities
Balance Sheet
+21.5%
$728.0M$884.6M

Current liabilities rose 21.5% — increased short-term obligations, watch current ratio.

Total Liabilities
Balance Sheet
+20.1%
$813.0M$976.8M

Liabilities increased 20.1% — monitor debt-to-equity ratio and interest coverage.

Accounts Receivable
Balance Sheet
+16.8%
$246.5M$287.8M

Receivables grew 16.8% — monitor days sales outstanding for collection efficiency.

R&D Expense
P&L
+15.8%
$313.0M$362.4M

R&D investment increased 15.8% — signals commitment to future product development, though near-term margin impact.

Revenue
P&L
+14.8%
$1.2B$1.3B

Revenue growing 14.8% — solid top-line momentum, watch margins for quality of growth.

Gross Profit
P&L
+11.2%
$946.1M$1.1B

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

LANGUAGE CHANGES
NEW — 2026-02-24
PRIOR — 2025-02-26
ADDED
We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not rely on our forward-looking statements.
We also continue to develop other products and services to address related challenges faced by the construction industry s key stakeholders.
Our products, services, and platform help our customers increase productivity and efficiency, reduce rework and costly delays, improve safety and compliance, and enhance financial transparency and accountability.
In February 2026, we began offering customers access to our products in four bundled packages Project Execution, Cost Management, Resource Management, and Project Lifecycle Management each of which consists of tiers that offer different levels of access to our products.
We also offer agentic AI capabilities to automate workflows across the entire construction lifecycle.
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REMOVED
We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.
We are also continuing to develop other programs and services to address related challenges faced by the construction industry s key stakeholders.
Adoption of our products, services, and platform helps our customers increase productivity and efficiency, reduce rework and costly delays, improve safety and compliance, and enhance financial transparency and accountability.
Each of our products can be accessed from the office or the jobsite on computers, smartphones, and tablets, enabling users to work wherever the job requires.
We offer over 500 integrations, including accounting, document management, and scheduling software, which provide our users with choice and flexibility, and demonstrably increase the stickiness of our platform as we aim to become the construction industry s system of record.
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