Procore Hits $1.5B ARR with 16% Growth, Acquires DroneDeploy for $845M

Procore Hits $1.5B ARR with 16% Growth, Acquires DroneDeploy for $845M

5h ago
SaaStr ARMARM Gtm_strategy New

The Gist

  • Procore achieved $375M Q2 revenue, beating guidance by 3%.
  • First GAAP operating profit in company history at 1% margin.
  • Acquired DroneDeploy for $845M, paying 11x revenue.
  • Net revenue retention steady at 106%, gross retention at 95%.
  • Leadership overhaul complete with new CEO, CFO, and CRO.

RevBots.ai View:

Procore's ARM maturity shines through its disciplined growth, operational efficiency, and strategic acquisitions.

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