Procore Technologies announced on March 10, 2026 that Rachel Pyles will become the company’s Chief Financial Officer Designate, succeeding Howard Fu, and that Walt Hearn will become the Chief Revenue Officer Designate, succeeding Larry Stack. Pyles and Hearn will assume their full CFO and CRO roles on April 1, 2026, while Fu and Stack transition to strategic advisory positions. Pyles brings more than 20 years of finance leadership, including a prior CFO role at Ansys, Inc., and Hearn brings 18 years of sales experience from Ansys, where he led worldwide sales and customer excellence.
Procore reaffirmed its Q1 and FY26 financial guidance on the same day, following the release of its Q4 2025 results on February 12, 2026. Q4 revenue rose to $349.11 million, a 2.62 % beat over the $348.29 million consensus estimate, and earnings per share were $0.37, exceeding the $0.35 estimate by $0.02 or 5.71 %. The quarter’s operating margin reached 15 %, up from 14 % for the full year 2025, and the company reiterated its FY26 non‑GAAP operating margin target of 17.5 %–18 %.
"Having worked closely with them over the years, I can say with confidence that Rachel and Walt are proven and transformative leaders with deep expertise in the technology industry and impressive track record of driving growth and maximizing long‑term stakeholder value," said Ajei Gopal, President and CEO of Procore. "They join us at a pivotal time—Procore is operating from a position of strength and as we look to the future, we are confident that our market‑leading platform, AI capabilities, and relentless commitment to delivering for our customers will enable us to capture the significant opportunity ahead." "Procore is well positioned to lead the construction industry through this new AI era and I'm honored to be a part of this journey. I am excited to work with Ajei and the leadership team to drive durable growth, expand margins, and compound free cash flow per share while we continue to execute on our vision to improve the lives of everyone in construction," added Rachel Pyles. "For millions of users, Procore serves as a central hub and true system of collaboration for an industry that builds the world around us. Procore customers are doing incredible things and I am eager to support their continued success," said Walt Hearn. "I am proud of our Q4 performance, which delivered consistent revenue growth and the largest free cash flow quarter in the company's history. We enter 2026 with strong momentum and we are committed to driving durable growth and strong per share improvements over the long‑term," Howard Fu commented.
The appointments reinforce Procore’s strategy to accelerate margin expansion and capital‑efficient growth. By bringing in leaders with deep experience in high‑margin software and global sales, the company aims to leverage its unified platform and AI capabilities to capture additional market share while maintaining disciplined cost growth. The Q4 2025 results, which showed a 15 % year‑over‑year revenue increase and a 15 % operating margin, demonstrate the effectiveness of this approach and provide a solid foundation for the FY26 guidance. The company’s focus on AI integration is expected to further enhance product differentiation and pricing power, supporting the projected 17.5 %–18 % operating margin target for the full year.
The leadership transition signals Procore’s confidence in its growth trajectory and its commitment to delivering long‑term shareholder value. With Pyles and Hearn stepping into full roles on April 1, the company is positioned to execute on its strategic priorities, including expanding its AI‑driven platform, deepening customer relationships, and pursuing disciplined capital allocation to sustain margin growth and free cash flow generation.
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