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

 

$

5,654

 

 

$

1,086

 

 

$

11,308

 

 

$

2,172

 

Sales and marketing

 

 

3,106

 

 

 

466

 

 

 

6,212

 

 

 

945

 

Research and development

 

 

895

 

 

 

680

 

 

 

1,797

 

 

 

863

 

Total amortization of acquired intangible assets

 

$

9,655

 

 

$

2,232

 

 

$

19,317

 

 

$

3,980

 

(3) Includes employer payroll tax on employee stock transactions as follows:

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Cost of revenue

 

$

68

 

 

$

330

 

 

$

149

 

 

$

334

 

Sales and marketing

 

 

317

 

 

 

1,215

 

 

 

925

 

 

 

1,357

 

Research and development

 

 

523

 

 

 

1,748

 

 

 

1,550

 

 

 

1,822

 

General and administrative

 

 

182

 

 

 

635

 

 

 

727

 

 

 

715

 

Total employer payroll tax on employee stock transactions

 

$

1,090

 

 

$

3,928

 

 

$

3,351

 

 

$

4,228

 

(4) Includes acquisition-related expenses as follows:

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