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Side-by-side financial comparison of HELIX ENERGY SOLUTIONS GROUP INC (HLX) and PROCORE TECHNOLOGIES, INC. (PCOR). Click either name above to swap in a different company.
PROCORE TECHNOLOGIES, INC. is the larger business by last-quarter revenue ($349.1M vs $287.9M, roughly 1.2× HELIX ENERGY SOLUTIONS GROUP INC). HELIX ENERGY SOLUTIONS GROUP INC runs the higher net margin — -4.7% vs -10.8%, a 6.1% gap on every dollar of revenue. On growth, PROCORE TECHNOLOGIES, INC. posted the faster year-over-year revenue change (15.6% vs -13.8%). PROCORE TECHNOLOGIES, INC. produced more free cash flow last quarter ($109.2M vs $59.0M). Over the past eight quarters, PROCORE TECHNOLOGIES, INC.'s revenue compounded faster (13.8% CAGR vs -11.2%).
Helix Energy Solutions Inc., known as Cal Dive International prior to 2006, is an American oil and gas services company headquartered in Houston, Texas. The company is a global provider of offshore services in well intervention and ROV operations of new and existing oil and gas fields.
Procore Technologies is an American construction management software as a service company founded in 2002, with headquarters in Carpinteria, California. Procore hosts a platform to connect those involved in the construction industry on a global platform. The software allows for the creation of simplified workflows and displays a consolidated view of construction products that includes the tracking of tasks, management of project workflows, and scheduling.
HLX vs PCOR — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $287.9M | $349.1M |
| Net Profit | $-13.4M | $-37.6M |
| Gross Margin | 3.1% | 80.1% |
| Operating Margin | — | -12.3% |
| Net Margin | -4.7% | -10.8% |
| Revenue YoY | -13.8% | 15.6% |
| Net Profit YoY | -262.1% | 39.6% |
| EPS (diluted) | $-0.09 | $-0.25 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $287.9M | — | ||
| Q4 25 | $334.2M | $349.1M | ||
| Q3 25 | $377.0M | $338.9M | ||
| Q2 25 | $302.3M | $323.9M | ||
| Q1 25 | $278.1M | $310.6M | ||
| Q4 24 | $355.1M | $302.0M | ||
| Q3 24 | $342.4M | $295.9M | ||
| Q2 24 | $364.8M | $284.3M |
| Q1 26 | $-13.4M | — | ||
| Q4 25 | $8.3M | $-37.6M | ||
| Q3 25 | $22.1M | $-9.1M | ||
| Q2 25 | $-2.6M | $-21.1M | ||
| Q1 25 | $3.1M | $-33.0M | ||
| Q4 24 | $20.1M | $-62.3M | ||
| Q3 24 | $29.5M | $-26.4M | ||
| Q2 24 | $32.3M | $-6.3M |
| Q1 26 | 3.1% | — | ||
| Q4 25 | 15.2% | 80.1% | ||
| Q3 25 | 17.5% | 79.7% | ||
| Q2 25 | 4.9% | 79.1% | ||
| Q1 25 | 9.9% | 79.1% | ||
| Q4 24 | 16.6% | 81.2% | ||
| Q3 24 | 19.2% | 81.4% | ||
| Q2 24 | 20.7% | 83.1% |
| Q1 26 | — | — | ||
| Q4 25 | 3.7% | -12.3% | ||
| Q3 25 | 12.7% | -4.4% | ||
| Q2 25 | -1.0% | -9.3% | ||
| Q1 25 | 2.9% | -11.7% | ||
| Q4 24 | 8.7% | -21.9% | ||
| Q3 24 | 13.0% | -12.3% | ||
| Q2 24 | 14.6% | -5.2% |
| Q1 26 | -4.7% | — | ||
| Q4 25 | 2.5% | -10.8% | ||
| Q3 25 | 5.9% | -2.7% | ||
| Q2 25 | -0.9% | -6.5% | ||
| Q1 25 | 1.1% | -10.6% | ||
| Q4 24 | 5.7% | -20.6% | ||
| Q3 24 | 8.6% | -8.9% | ||
| Q2 24 | 8.9% | -2.2% |
| Q1 26 | $-0.09 | — | ||
| Q4 25 | $0.06 | $-0.25 | ||
| Q3 25 | $0.15 | $-0.06 | ||
| Q2 25 | $-0.02 | $-0.14 | ||
| Q1 25 | $0.02 | $-0.22 | ||
| Q4 24 | $0.13 | $-0.42 | ||
| Q3 24 | $0.19 | $-0.18 | ||
| Q2 24 | $0.21 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $501.3M | $768.5M |
| Total DebtLower is stronger | $303.8M | — |
| Stockholders' EquityBook value | $1.6B | $1.3B |
| Total Assets | $2.6B | $2.2B |
| Debt / EquityLower = less leverage | 0.20× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $501.3M | — | ||
| Q4 25 | $445.2M | $768.5M | ||
| Q3 25 | $338.0M | $684.0M | ||
| Q2 25 | $319.7M | $620.9M | ||
| Q1 25 | $370.0M | $566.7M | ||
| Q4 24 | $368.0M | $775.4M | ||
| Q3 24 | $324.1M | $756.9M | ||
| Q2 24 | $275.1M | $735.4M |
| Q1 26 | $303.8M | — | ||
| Q4 25 | $308.0M | — | ||
| Q3 25 | $307.5M | — | ||
| Q2 25 | $311.6M | — | ||
| Q1 25 | $311.1M | — | ||
| Q4 24 | $315.2M | — | ||
| Q3 24 | $314.7M | — | ||
| Q2 24 | $318.6M | — |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $1.3B | ||
| Q3 25 | $1.6B | $1.2B | ||
| Q2 25 | $1.6B | $1.2B | ||
| Q1 25 | $1.5B | $1.2B | ||
| Q4 24 | $1.5B | $1.3B | ||
| Q3 24 | $1.6B | $1.3B | ||
| Q2 24 | $1.5B | $1.3B |
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.6B | $2.2B | ||
| Q3 25 | $2.6B | $2.1B | ||
| Q2 25 | $2.7B | $2.0B | ||
| Q1 25 | $2.6B | $1.9B | ||
| Q4 24 | $2.6B | $2.1B | ||
| Q3 24 | $2.7B | $2.0B | ||
| Q2 24 | $2.6B | $2.0B |
| Q1 26 | 0.20× | — | ||
| Q4 25 | 0.19× | — | ||
| Q3 25 | 0.20× | — | ||
| Q2 25 | 0.20× | — | ||
| Q1 25 | 0.20× | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | 0.20× | — | ||
| Q2 24 | 0.21× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $61.8M | $114.9M |
| Free Cash FlowOCF − Capex | $59.0M | $109.2M |
| FCF MarginFCF / Revenue | 20.5% | 31.3% |
| Capex IntensityCapex / Revenue | 1.0% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $167.4M | $282.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $61.8M | — | ||
| Q4 25 | $113.2M | $114.9M | ||
| Q3 25 | $24.3M | $88.5M | ||
| Q2 25 | $-17.1M | $30.8M | ||
| Q1 25 | $16.4M | $66.0M | ||
| Q4 24 | $78.0M | $29.1M | ||
| Q3 24 | $55.7M | $39.3M | ||
| Q2 24 | $-12.2M | $58.7M |
| Q1 26 | $59.0M | — | ||
| Q4 25 | $107.5M | $109.2M | ||
| Q3 25 | $22.6M | $83.1M | ||
| Q2 25 | $-21.6M | $27.9M | ||
| Q1 25 | $12.0M | $62.0M | ||
| Q4 24 | $65.5M | $17.4M | ||
| Q3 24 | $52.5M | $35.7M | ||
| Q2 24 | $-16.2M | $56.8M |
| Q1 26 | 20.5% | — | ||
| Q4 25 | 32.2% | 31.3% | ||
| Q3 25 | 6.0% | 24.5% | ||
| Q2 25 | -7.1% | 8.6% | ||
| Q1 25 | 4.3% | 20.0% | ||
| Q4 24 | 18.4% | 5.8% | ||
| Q3 24 | 15.3% | 12.1% | ||
| Q2 24 | -4.4% | 20.0% |
| Q1 26 | 1.0% | — | ||
| Q4 25 | 1.7% | 1.6% | ||
| Q3 25 | 0.4% | 1.6% | ||
| Q2 25 | 1.5% | 0.9% | ||
| Q1 25 | 1.6% | 1.3% | ||
| Q4 24 | 3.5% | 3.9% | ||
| Q3 24 | 0.9% | 1.2% | ||
| Q2 24 | 1.1% | 0.7% |
| Q1 26 | — | — | ||
| Q4 25 | 13.68× | — | ||
| Q3 25 | 1.10× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 5.35× | — | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | -0.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HLX
Segment breakdown not available.
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
