Procore Technologies Sees Q3 Revenue $286M-$288M Vs $291.7M Est.; FY24 Revenue $1.141B-$1.144B Vs $1.14B Est.
Portfolio Pulse from Benzinga Newsdesk
Procore Technologies has provided its Q3 and FY24 revenue outlook. For Q3, revenue is expected to be $286M-$288M, below the $291.7M estimate. For FY24, revenue is expected to be $1.141B-$1.144B, slightly above the $1.14B estimate. Non-GAAP operating margins are also provided.
August 01, 2024 | 8:23 pm
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Procore Technologies' Q3 revenue guidance of $286M-$288M is below the $291.7M estimate, which may negatively impact short-term stock price. However, FY24 revenue guidance is slightly above estimates at $1.141B-$1.144B.
The Q3 revenue guidance falling short of estimates is likely to have a negative short-term impact on Procore's stock price. However, the slightly positive FY24 revenue guidance may mitigate some of the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100