Procore Technologies, Inc. (NYSE:PCOR) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET

Company Participants

Matthew Puljiz - Vice President, Finance

Tooey Courtemanche - Founder, President and Chief Executive Officer

Howard Fu - Chief Financial Officer

Conference Call Participants

Brent Bracelin - Piper Sandler

DJ Hynes - Canaccord

Saket Kalia - Barclays

Mike Richards - Stifel

Jason Celino - KeyBanc

Daniel Jester - BMO

Dylan Becker - William Blair

Brent Thill - Jefferies

Nick Altmann - Deutsche Bank

Operator

[Abrupt Start] I will be your moderator today. [Operator Instructions] I would now like to pass the conference over to our host, Matthew Puljiz with Procore. Please proceed.

Matthew Puljiz

Thanks. Good afternoon and welcome to Procore’s 2023 third quarter earnings call. I am Matthew Puljiz, VP of Finance. With me today are Tooey Courtemanche, Founder, President and CEO; and Howard Fu, CFO. Further disclosure of our results can be found in our press release issued today, which is available on the Investor Relations section of our website and our periodic reports filed with the SEC. Today’s call is being recorded and a replay will be available following the conclusion of the call.

Comments made on this call may include forward-looking statements regarding our financial results, products, customer demand, operations and macroeconomic and geopolitical conditions. You should not rely on forward-looking statements as predictions of future events. All forward-looking statements are subject to risks, uncertainties and assumptions and are based on management’s current expectations and views as of today, November 1, 2023.

Procore undertakes no obligation to update any forward-looking statements to reflect new information or unanticipated events, except as required by law. If this call is replayed or viewed after today, the information presented during the call may not contain current or accurate information. Therefore, these statements should not be relied upon as representing our views as of any subsequent date. We will also refer to certain non-GAAP financial measures to provide additional information to investors. A reconciliation of non-GAAP to GAAP measures is provided in our press release.

And with that, let me hand it to Tooey.

Tooey Courtemanche

Thanks, Matt and thank you everyone for joining us today. This quarter, we continue to expand the depth and breadth of our platform as well as make great progress on our efficient growth journey. While Q3 proved to be a challenging quarter amidst an increasingly difficult demand environment, I’d like to start by sharing a few highlights in the quarter.