Procore Announces First Quarter 2022 Financial Results

Reconciliation of loss from operations and operating margin to non-GAAP loss from operations and non-GAAP operating margin:

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(dollars in thousands)

 

Revenue

 

$

159,516

 

 

$

113,938

 

Loss from operations

 

 

(71,137

)

 

 

(12,858

)

Stock-based compensation expense

 

 

37,209

 

 

 

10,303

 

Amortization of acquired intangible assets

 

 

9,662

 

 

 

1,748

 

Employer payroll tax on employee stock transactions

 

 

2,261

 

 

 

300

 

Acquisition-related expenses

 

 

2,346

 

 

 

-

 

Non-GAAP loss from operations

 

$

(19,659

)

 

$

(507

)

Operating margin

 

 

(45

%)

 

 

(11

%)

Non-GAAP operating margin

 

 

(12

%)

 

 

(0

%)

Reconciliation of net loss and net loss per share to non-GAAP net loss and non-GAAP net loss per share:

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(dollars in thousands)

 

Revenue

 

$

159,516

 

 

$

113,938

 

Net loss

 

 

(71,419

)

 

 

(13,732

)

Stock-based compensation expense

 

 

37,209

 

 

 

10,303

 

Amortization of acquired intangible assets

 

 

9,662

 

 

 

1,748

 

Employer payroll tax on employee stock transactions

 

 

2,261

 

 

 

300

 

Acquisition-related expenses

 

 

2,346

 

 

 

-

 

Non-GAAP net loss

 

$

(19,941

)

 

$

(1,381

)

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Non-GAAP net loss

 

$

(19,941

)

 

$

(1,381

)

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

Weighted-average shares used in computing net loss per

share attributable to common stockholders, basic and

diluted

 

 

134,530,010

 

 

 

31,357,060

 

 

 

 

 

 

 

 

 

 

GAAP net loss per share, basic and diluted

 

$

(0.53

)

 

$

(0.44

)

Non-GAAP net loss per share, basic and diluted

 

$

(0.15

)

 

$

(0.04

)


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