The Expert Podcast

• Although the IPO was delayed last year due to market conditions, Procore finally went public successfully
• Procore offers unique software platforms that connect builders with subcontractors, materials contractors, suppliers, and other construction job components
• The platform helps layer different construction tasks and assists contractors/builders in organizing project workflows

• IPO launched at $67 per share
• Company valued at approximately $9 billion
• Trades under ticker symbol PCOR
• Market flux was one factor that delayed the original IPO timing

• General contracting industry experiencing high demand
• Build efficiency has become a major bottleneck in the industry
• Rising costs across multiple sectors: lumber prices, construction labor, materials, and appliances
• Efficiency software like Procore helps builders reduce overall job costs through improved overhead management

• With material and labor costs at historic highs, builders need efficiency tools to remain competitive
• Contractors without efficiency software face significant disadvantages against competitors who utilize these tools
• Efficiency platforms enable builders to win bids and complete jobs successfully
• Builders without task-layering capabilities may face 10-15% cost disadvantages due to high overhead costs
• Access to efficiency tools has become essential for construction industry success