Procore Technologies (PCOR) falls after Q1 profit miss despite stronger revenue growth

Procore Technologies (PCOR) shares fell to $50.00 as of May 14, 2026, down from $62.10 before its first-quarter earnings, after adjusted profit missed analyst expectations despite revenue growth ahead of Wall Street forecasts. Management said demand remained solid for its construction management platform, led by customer expansion among U.S. general contractors and larger enterprise commitments. CEO Ajei Gopal cited accelerating adoption of AI-driven features as a contributor to customer engagement. Investors are focused on margin pressure as Procore continues to invest in growth, AI tools and platform enhancements. Key items for coming quarters include adoption of AI agents, monetization of bundled product tiers, contract-value expansion, international execution and whether internal AI use can improve operating efficiency.