Procore Announces Second Quarter 2022 Financial Results

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Cost of revenue

 

$

2,046

 

 

$

4,918

 

 

$

3,504

 

 

$

6,079

 

Sales and marketing

 

 

12,572

 

 

 

42,855

 

 

 

22,868

 

 

 

46,107

 

Research and development

 

 

13,144

 

 

 

51,317

 

 

 

26,152

 

 

 

54,563

 

General and administrative

 

 

6,133

 

 

 

38,353

 

 

 

18,580

 

 

 

40,997

 

Total stock-based compensation expense

 

$

33,895

 

 

$

137,443

 

 

$

71,104

 

 

$

147,746

 

(2) Includes amortization of acquired intangible assets as follows:

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