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Side-by-side financial comparison of PROCORE TECHNOLOGIES, INC. (PCOR) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
PROCORE TECHNOLOGIES, INC. is the larger business by last-quarter revenue ($349.1M vs $192.7M, roughly 1.8× SPS COMMERCE INC). SPS COMMERCE INC runs the higher net margin — 13.4% vs -10.8%, a 24.2% gap on every dollar of revenue. On growth, PROCORE TECHNOLOGIES, INC. posted the faster year-over-year revenue change (15.6% vs 12.7%). PROCORE TECHNOLOGIES, INC. produced more free cash flow last quarter ($109.2M vs $38.2M). Over the past eight quarters, PROCORE TECHNOLOGIES, INC.'s revenue compounded faster (13.8% CAGR vs 13.5%).
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.
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
PCOR vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $349.1M | $192.7M |
| Net Profit | $-37.6M | $25.8M |
| Gross Margin | 80.1% | 70.4% |
| Operating Margin | -12.3% | 18.0% |
| Net Margin | -10.8% | 13.4% |
| Revenue YoY | 15.6% | 12.7% |
| Net Profit YoY | 39.6% | 47.2% |
| EPS (diluted) | $-0.25 | $0.69 |
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.
| Q4 25 | $349.1M | $192.7M | ||
| Q3 25 | $338.9M | $189.9M | ||
| Q2 25 | $323.9M | $187.4M | ||
| Q1 25 | $310.6M | $181.5M | ||
| Q4 24 | $302.0M | $170.9M | ||
| Q3 24 | $295.9M | $163.7M | ||
| Q2 24 | $284.3M | $153.6M | ||
| Q1 24 | $269.4M | $149.6M |
| Q4 25 | $-37.6M | $25.8M | ||
| Q3 25 | $-9.1M | $25.6M | ||
| Q2 25 | $-21.1M | $19.7M | ||
| Q1 25 | $-33.0M | $22.2M | ||
| Q4 24 | $-62.3M | $17.6M | ||
| Q3 24 | $-26.4M | $23.5M | ||
| Q2 24 | $-6.3M | $18.0M | ||
| Q1 24 | $-11.0M | $18.0M |
| Q4 25 | 80.1% | 70.4% | ||
| Q3 25 | 79.7% | 69.5% | ||
| Q2 25 | 79.1% | 68.1% | ||
| Q1 25 | 79.1% | 68.7% | ||
| Q4 24 | 81.2% | 67.5% | ||
| Q3 24 | 81.4% | 68.5% | ||
| Q2 24 | 83.1% | 66.1% | ||
| Q1 24 | 83.0% | 65.6% |
| Q4 25 | -12.3% | 18.0% | ||
| Q3 25 | -4.4% | 16.4% | ||
| Q2 25 | -9.3% | 14.1% | ||
| Q1 25 | -11.7% | 14.3% | ||
| Q4 24 | -21.9% | 14.5% | ||
| Q3 24 | -12.3% | 15.6% | ||
| Q2 24 | -5.2% | 15.1% | ||
| Q1 24 | -7.0% | 10.3% |
| Q4 25 | -10.8% | 13.4% | ||
| Q3 25 | -2.7% | 13.5% | ||
| Q2 25 | -6.5% | 10.5% | ||
| Q1 25 | -10.6% | 12.2% | ||
| Q4 24 | -20.6% | 10.3% | ||
| Q3 24 | -8.9% | 14.3% | ||
| Q2 24 | -2.2% | 11.7% | ||
| Q1 24 | -4.1% | 12.0% |
| Q4 25 | $-0.25 | $0.69 | ||
| Q3 25 | $-0.06 | $0.67 | ||
| Q2 25 | $-0.14 | $0.52 | ||
| Q1 25 | $-0.22 | $0.58 | ||
| Q4 24 | $-0.42 | $0.46 | ||
| Q3 24 | $-0.18 | $0.62 | ||
| Q2 24 | $-0.04 | $0.48 | ||
| Q1 24 | $-0.08 | $0.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $768.5M | $151.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3B | $973.9M |
| Total Assets | $2.2B | $1.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $768.5M | $151.4M | ||
| Q3 25 | $684.0M | $133.7M | ||
| Q2 25 | $620.9M | $107.6M | ||
| Q1 25 | $566.7M | $94.9M | ||
| Q4 24 | $775.4M | $241.0M | ||
| Q3 24 | $756.9M | $205.8M | ||
| Q2 24 | $735.4M | $271.8M | ||
| Q1 24 | $744.6M | $290.8M |
| Q4 25 | $1.3B | $973.9M | ||
| Q3 25 | $1.2B | $958.9M | ||
| Q2 25 | $1.2B | $949.8M | ||
| Q1 25 | $1.2B | $920.9M | ||
| Q4 24 | $1.3B | $854.7M | ||
| Q3 24 | $1.3B | $829.4M | ||
| Q2 24 | $1.3B | $703.4M | ||
| Q1 24 | $1.2B | $683.0M |
| Q4 25 | $2.2B | $1.2B | ||
| Q3 25 | $2.1B | $1.2B | ||
| Q2 25 | $2.0B | $1.1B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $2.1B | $1.0B | ||
| Q3 24 | $2.0B | $1.0B | ||
| Q2 24 | $2.0B | $854.5M | ||
| Q1 24 | $1.9B | $839.8M |
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 | $114.9M | $45.9M |
| Free Cash FlowOCF − Capex | $109.2M | $38.2M |
| FCF MarginFCF / Revenue | 31.3% | 19.8% |
| Capex IntensityCapex / Revenue | 1.6% | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $282.2M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $114.9M | $45.9M | ||
| Q3 25 | $88.5M | $60.6M | ||
| Q2 25 | $30.8M | $32.3M | ||
| Q1 25 | $66.0M | $40.0M | ||
| Q4 24 | $29.1M | $40.6M | ||
| Q3 24 | $39.3M | $53.3M | ||
| Q2 24 | $58.7M | $29.4M | ||
| Q1 24 | $69.1M | $34.1M |
| Q4 25 | $109.2M | $38.2M | ||
| Q3 25 | $83.1M | $54.6M | ||
| Q2 25 | $27.9M | $25.7M | ||
| Q1 25 | $62.0M | $33.8M | ||
| Q4 24 | $17.4M | $34.3M | ||
| Q3 24 | $35.7M | $48.1M | ||
| Q2 24 | $56.8M | $24.4M | ||
| Q1 24 | $67.1M | $30.5M |
| Q4 25 | 31.3% | 19.8% | ||
| Q3 25 | 24.5% | 28.7% | ||
| Q2 25 | 8.6% | 13.7% | ||
| Q1 25 | 20.0% | 18.6% | ||
| Q4 24 | 5.8% | 20.1% | ||
| Q3 24 | 12.1% | 29.4% | ||
| Q2 24 | 20.0% | 15.9% | ||
| Q1 24 | 24.9% | 20.4% |
| Q4 25 | 1.6% | 4.0% | ||
| Q3 25 | 1.6% | 3.2% | ||
| Q2 25 | 0.9% | 3.6% | ||
| Q1 25 | 1.3% | 3.4% | ||
| Q4 24 | 3.9% | 3.6% | ||
| Q3 24 | 1.2% | 3.2% | ||
| Q2 24 | 0.7% | 3.3% | ||
| Q1 24 | 0.8% | 2.4% |
| Q4 25 | — | 1.78× | ||
| Q3 25 | — | 2.37× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.27× | ||
| Q2 24 | — | 1.63× | ||
| Q1 24 | — | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PCOR
| US | $298.3M | 85% |
| Non Us | $50.9M | 15% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
