|
|
Three Months Ended
|
|
|
Year Ended
|
|
||||||||||
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
||||
|
|
(in thousands) |
|
|||||||||||||
Cost of revenue |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
127 |
|
Sales and marketing |
|
|
- |
|
|
|
61 |
|
|
|
- |
|
|
|
1,824 |
|
Research and development |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
1,681 |
|
General and administrative |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
801 |
|
Total restructuring-related charges |
|
$ |
- |
|
|
$ |
61 |
|
|
$ |
- |
|
|
$ |
4,433 |
|
| Procore Technologies, Inc. Condensed Consolidated Balance Sheets (unaudited) |
||||||||
|
|
|
December 31, |
|
|||||
| (in thousands) |
|
2021 |
|
|
2020 |
|
||
| Assets |
|
|
|
|
|
|
|
|
| Current assets |
|
|
|
|
|
|
|
|
| Cash and cash equivalents |
|
$ |
586,108 |
|
|
$ |
379,907 |
|
| Accounts receivable, net |
|
|
113,977 |
|
|
|
77,692 |
|
| Contract cost asset, current |
|
|
17,030 |
|
|
|
13,598 |
|
| Prepaid expenses and other current assets |
|
|
35,173 |
|
|
|
16,772 |
|
| Total current assets |
|
|
752,288 |
|
|
|
487,969 |
|
| Capitalized software development costs, net |
|
|
27,062 |
|
|
|
18,538 |
|
| Property and equipment, net |
|
|
36,837 |
|
|
|
30,252 |
|
| Right of use assets - finance leases |
|
|
39,623 |
|
|
|
42,108 |
|
| Right of use assets - operating leases |
|
|
44,052 |
|
|
|
49,756 |
|
| Contract cost asset, non-current |
|
|
25,889 |
|
|
|
19,454 |
|
| Intangible assets, net |
|
|
201,977 |
|
|
|
33,241 |
|
| Goodwill |
|
|
540,922 |
|
|
|
125,966 |
|
| Restricted cash, non-current |
|
|
3,104 |
|
|
|
3,104 |
|
| Other assets |
|
|
18,903 |
|
|
|
10,379 |
|
| Total assets |
|
$ |
1,690,657 |
|
|
$ |
820,767 |
|
| Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) |
|
|
|
|
|
|
|
|
| Current liabilities |
|
|
|
|
|
|
|
|
| Accounts payable |
|
$ |
15,490 |
|
|
$ |
9,012 |
|
| Accrued expenses |
|
|
65,907 |
|
|
|
28,492 |
|
| Deferred revenue, current |
|
|
301,557 |
|
|
|
213,438 |
|
| Other current liabilities |
|
|
20,750 |
|
|
|
10,768 |
|
| Total current liabilities |
|
|
403,704 |
|
|
|
261,710 |
|
| Deferred revenue, non-current |
|
|
4,024 |
|
|
|
6,373 |
|
| Finance lease liabilities, non-current |
|
|
47,344 |
|
|
|
48,835 |
|
| Operating lease liabilities, non-current |
|
|
41,573 |
|
|
|
46,558 |
|
| Other liabilities, non-current |
|
|
4,723 |
|
|
|
1,919 |
|
| Total liabilities |
|
|
501,368 |
|
|
|
365,395 |
|
| Redeemable convertible preferred stock |
|
|
- |
|
|
|
727,474 |
|
| Stockholders' equity (deficit) |
|
|
|
|
|
|
|
|
| Common stock |
|
|
13 |
|
|
|
3 |
|
| Additional paid-in capital |
|
|
1,852,071 |
|
|
|
124,755 |
|
| Accumulated other comprehensive (loss) income |
|
|
(583 |
) |
|
|
187 |
|
| Accumulated deficit |
|
|
(662,212 |
) |
|
|
(397,047 |
) |
| Total stockholders' equity (deficit) |
|
|
1,189,289 |
|
|
|
(272,102 |
) |
| Total liabilities, redeemable convertible preferred stock and stockholders' equity (deficit) |
|
$ |
1,690,657 |
|
|
$ |
820,767 |
|
