Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Procore Technologies, Inc. reported solid financial and operational results for its second quarter of fiscal 2026, marked by a 15.8% year-over-year revenue increase to $375 million and a significant expansion in non-GAAP operating margin to 21.5%, an 800 basis point improvement compared to the prior year.</li><li>This quarter also represented the company’s first GAAP operating profitability quarter, supported by strong free cash flow growth of 507% year-over-year to $65 million.</li><li>International revenue grew 23% year-over-year, led by large agreements such as a nearly $7 million contract with a major European hyperscale AI data center operator and participation in one of the world's largest infrastructure projects, the King Salman International Airport in Saudi Arabia.</li></ul>

Procore Technologies, Inc. reported solid financial and operational results for its second quarter of fiscal 2026, marked by a 15.8% year-over-year revenue increase to $375 million and a significant expansion in non-GAAP operating margin to 21.5%, an 800 basis point improvement compared to the prior year.This quarter also represented the company’s first GAAP operating profitability quarter, supported by strong free cash flow growth of 507% year-over-year to $65 million.International revenue grew 23% year-over-year, led by large agreements such as a nearly $7 million contract with a major European hyperscale AI data center operator and participation in one of the world's largest infrastructure projects, the King Salman International Airport in Saudi Arabia.

Procore Technologies Moves for DroneDeploy’s 3 Million-Site Network; What's Next?

<ul><li>Procore Technologies has moved quickly to deepen its position in AI-driven construction software.</li><li>On July 29, 2026, the company agreed to acquire DroneDeploy for approximately $845 million in cash, bringing aerial imaging, ground capture, robotics, and computer vision into its construction management platform.</li><li>The announcement was followed by a strong second-quarter update, including 15.8% revenue growth, a 21.5% non-GAAP operating margin, and $65 million of free cash flow.</li></ul>

Procore Technologies has moved quickly to deepen its position in AI-driven construction software.On July 29, 2026, the company agreed to acquire DroneDeploy for approximately $845 million in cash, bringing aerial imaging, ground capture, robotics, and computer vision into its construction management platform.The announcement was followed by a strong second-quarter update, including 15.8% revenue growth, a 21.5% non-GAAP operating margin, and $65 million of free cash flow.

Procore’s $845 Million DroneDeploy Acquisition Could Reshape Construction AI!

<ul><li>Procore Technologies, Inc. reported solid performance for the first quarter of fiscal 2026, with total revenue reaching $359 million, marking a 15.7% year-over-year increase.</li><li>The company achieved a non-GAAP operating margin of 17%, representing a substantial 650 basis point improvement compared to the previous year, alongside a 20% year-over-year increase in free cash flow to $56 million.</li><li>Current remaining performance obligations (cRPO) and deferred revenue expanded by 21% and 17%, respectively, reflecting longer contract durations and growth in contracted sales.</li></ul>

Procore Technologies, Inc. reported solid performance for the first quarter of fiscal 2026, with total revenue reaching $359 million, marking a 15.7% year-over-year increase.The company achieved a non-GAAP operating margin of 17%, representing a substantial 650 basis point improvement compared to the previous year, alongside a 20% year-over-year increase in free cash flow to $56 million.Current remaining performance obligations (cRPO) and deferred revenue expanded by 21% and 17%, respectively, reflecting longer contract durations and growth in contracted sales.

Procore's $1.5 Billion Guide: Can AI Agents Lift The Construction Cloud?

<ul><li>Procore Technologies, Inc. has made headlines once again, this time by acquiring Datagrid, a move that appears to be a strategic step toward accelerating its artificial intelligence (AI) capabilities and enhancing platform connectivity.</li><li>As of January 2026, Procore confirmed that the acquisition had been completed, with the company emphasizing that it aims to eliminate data silos and automate workflows across the construction ecosystem.</li><li>This development comes on the heels of a notable transition in Procore’s leadership, with longtime CEO and founder Tooey Courtemanche stepping down to make way for industry veteran Ajei Gopal.</li></ul>

Procore Technologies, Inc. has made headlines once again, this time by acquiring Datagrid, a move that appears to be a strategic step toward accelerating its artificial intelligence (AI) capabilities and enhancing platform connectivity.As of January 2026, Procore confirmed that the acquisition had been completed, with the company emphasizing that it aims to eliminate data silos and automate workflows across the construction ecosystem.This development comes on the heels of a notable transition in Procore’s leadership, with longtime CEO and founder Tooey Courtemanche stepping down to make way for industry veteran Ajei Gopal.

Procore’s Datagrid Deal Could Reshape How Construction Data Is Used!

<ul><li>Procore Technologies, Inc. presented its third-quarter results for 2025, showing a robust performance characterized by consistent revenue growth, improved operating margins, and effective expansion of its customer base.</li><li>The company's revenue increased by 14.5% year-over-year, maintaining momentum from last quarter and reflecting solid underlying business dynamics.</li><li>A notable highlight was the growth in large deals, with significant acceleration in the number of six and seven-figure deals, contributing to a 31% year-over-year increase.</li></ul>

Procore Technologies, Inc. presented its third-quarter results for 2025, showing a robust performance characterized by consistent revenue growth, improved operating margins, and effective expansion of its customer base.The company's revenue increased by 14.5% year-over-year, maintaining momentum from last quarter and reflecting solid underlying business dynamics.A notable highlight was the growth in large deals, with significant acceleration in the number of six and seven-figure deals, contributing to a 31% year-over-year increase.

Procore Technologies: What’s the Real Upside From Its Data Center Push—And Why Big Customers Matter Now?

United States

Procore Technologies, Inc. provides software solutions. The Company develops cloud-based construction management software. Procore Technologies serves customers worldwide.

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Procore Technologies (PCOR US)

Procore Technologies Moves for DroneDeploy’s 3 Million-Site Network; What's Next?

Procore Technologies, Inc. reported solid financial and operational results for its second quarter of fiscal 2026, marked by a 15.8%...

Baptista Research

Procore’s $845 Million DroneDeploy Acquisition Could Reshape Construction AI!

Procore Technologies has moved quickly to deepen its position in AI-driven construction software. On July 29, 2026, the company agreed to acquire...

Baptista Research

Procore's $1.5 Billion Guide: Can AI Agents Lift The Construction Cloud?

Procore Technologies, Inc. reported solid performance for the first quarter of fiscal 2026, with total revenue reaching $359 million, marking a...

Baptista Research

Procore’s Datagrid Deal Could Reshape How Construction Data Is Used!

Procore Technologies, Inc. has made headlines once again, this time by acquiring Datagrid, a move that appears to be a strategic step toward...

Baptista Research

Procore Technologies: What’s the Real Upside From Its Data Center Push—And Why Big Customers Matter Now?

Procore Technologies, Inc. presented its third-quarter results for 2025, showing a robust performance characterized by consistent revenue growth,...

Baptista Research

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