Exhibit 99.1
Procore Announces Second Quarter 2025 Financial Results
CARPINTERIA, CA – July 31, 2025 – Procore Technologies, Inc. (NYSE: PCOR), the leading global provider of construction management software, today announced financial results for the second quarter ended June 30, 2025.
“Q2 represented another solid quarter and we remain well positioned for efficient growth,” said Tooey Courtemanche, Founder, President, and CEO of Procore. “Our latest announcements unveiled at the Innovation Summit further cement Procore at the forefront of the construction industry's digital transformation.”
“I am pleased with the performance we delivered in Q2,” said Howard Fu, CFO of Procore. “We remain committed to profitability improvement and we see opportunities for continued margin expansion while not compromising our growth opportunities.”
Second Quarter 2025 Financial Highlights:
•Revenue was $324 million, an increase of 14% year-over-year.
•GAAP gross margin was 79% and non-GAAP gross margin was 83%.
•GAAP operating margin was (9%) and non-GAAP operating margin was 13%.
•Operating cash inflow for the second quarter was $31 million.
•Free cash inflow for the second quarter was $11 million.
A reconciliation of GAAP to non-GAAP financial measures has been provided in the tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”
Recent Business Highlights:
•Achieved a gross revenue retention rate of 95% in the second quarter.
•Number of organic customers contributing more than $100,000 of annual recurring revenue totaled 2,517 as of June 30, 2025, an increase of 15% year-over-year.
•Added 195 net new organic customers in the second quarter, ending with a total of 17,501 organic customers.
•Announced acquisitions of Novorender and Flypaper Technologies to double down on Building Information Modeling (BIM).
•Achieved Federal Risk and Authorization Management Program (FedRAMP®) “In Process” Designation and now listed on the FedRAMP marketplace.
•Hosted Procore Innovation Summit and shared exciting product innovations.

Third Quarter and Full Year Outlook:
Procore is providing the following guidance for the third quarter 2025 and the full year 2025:
•Third Quarter 2025 Outlook:
◦Revenue is expected to be in the range of $326 million to $328 million, representing year-over-year growth of 10% to 11%.
◦Non-GAAP operating margin is expected to be in the range of 13% to 13.5%.
•Full Year 2025 Outlook:
◦Revenue is expected to be in the range of $1,299 million to $1,302 million, representing year-over-year growth of 13%.
◦Non-GAAP operating margin is expected to be in the range of 13% to 13.5%.

A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort due to the uncertainty of expenses that may be incurred in the future and cannot be reasonably determined or predicted at this time, although it is important to note that these factors could be material to Procore’s future GAAP financial results.


Quarterly Conference Call
Procore Technologies, Inc. will hold a conference call to discuss its second quarter results at 2:00 p.m., Pacific Time, on Thursday, July 31, 2025. A live audio webcast will be accessible on Procore's investor relations website at http://investors.procore.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about Procore and its industry, including our outlook for third quarter 2025 and the full fiscal year 2025, that involve substantial risks and uncertainties. All statements in this press release, other than statements of historical fact, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or future financial or operating performance, and may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would,” or the negative of these words, or other similar terms or expressions that concern Procore’s expectations, strategy, plans, or intentions.
Procore has based the forward-looking statements contained in this press release primarily on its current expectations and projections about future events and trends that Procore believes may affect its business, financial condition, and operating results. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors that could cause results to differ materially from Procore’s current expectations, including, but not limited to, our expectations regarding our financial performance (including revenues, expenses, and margins, and our ability to achieve or maintain future profitability), our ability to effectively manage our growth, anticipated performance, trends, growth rates, and challenges in our business and in the markets in which we operate or anticipate entering into, economic and industry trends (in particular, the rate of adoption of construction management software and digitization of the construction industry, inflation, interest rates, tariffs, and challenging geopolitical or macroeconomic conditions), our progress with respect to our go-to-market transition and our ability to realize the expected benefits of the transition, our ability to attract new customers and retain and increase sales to existing customers, our ability to expand internationally, the effects of increased competition in our markets and our ability to compete effectively, our estimated total addressable market, our ability to execute, and realize benefits from, our stock repurchase program, our ability to develop and integrate new products, platform capabilities, services, and features in an efficient and timely manner and get our customers and prospective customers to adopt such new products, platform capabilities, services, and features, and as set forth in Procore’s filings with the Securities and Exchange Commission. You should not rely on Procore’s forward-looking statements. Procore assumes no obligation to update any forward-looking statements to reflect events or circumstances that exist or change after the date on which they were made, except as required by law.
Non-GAAP Financial Measures
In addition to Procore’s results determined in accordance with U.S. generally accepted accounting principles, or GAAP, Procore believes certain non-GAAP measures, as described below, are useful in evaluating Procore’s operating performance. Procore uses this non-GAAP financial information, collectively, to evaluate its ongoing operations as well as for internal planning and forecasting purposes. Procore believes that non-GAAP financial information, when taken collectively, is helpful to investors because it provides consistency and comparability with past financial performance, and may assist in comparisons with other companies, some of which use similar non-GAAP financial information to supplement their GAAP results. These non-GAAP financial measures are not prepared in accordance with GAAP, and are presented for supplemental purposes only.
Non-GAAP Gross Profit, Non-GAAP Gross Margin, Non-GAAP Operating Expenses, Non-GAAP Income from Operations, Non-GAAP Operating Margin, Non-GAAP Net Income, and Non-GAAP Net Income per Share: Procore defines these non-GAAP financial measures as the respective GAAP measures, excluding stock-based compensation expense, amortization of acquired intangible assets, employer payroll tax related to employee stock transactions, and acquisition-related expenses. Non-GAAP gross margin is the ratio calculated by dividing non-GAAP gross profit by total revenue. Non-GAAP operating margin is the ratio calculated by dividing non-GAAP income from operations by total revenue. Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period. Non-GAAP diluted earnings per share is computed by giving effect to all potential weighted average dilutive common


stock equivalents outstanding for the period, including options to purchase common stock, restricted stock units, and shares to be issued pursuant to the employee stock purchase plan. The dilutive effect of outstanding awards is reflected in non-GAAP diluted earnings per share by application of the treasury stock method.

Stock-based compensation expense includes the net effects of capitalization and amortization of stock-based compensation expense related to capitalized software and cloud-computing arrangement implementation costs. Stock-based compensation expense has been, and will continue to be for the foreseeable future, a significant recurring expense in our business and an important part of the compensation provided to our employees. Because of varying available valuation methodologies, subjective assumptions, and the variety of equity instruments that can impact a company’s non-cash expenses, we believe that providing non-GAAP financial measures that exclude stock-based compensation expense allows for meaningful comparisons between its operating results from period to period. The expense related to amortization of acquired intangible assets is a non-cash expense and is dependent upon estimates and assumptions, which can vary significantly and are unique to each asset acquired; therefore, Procore believes non-GAAP measures that adjust for the amortization of acquired intangible assets provide investors a consistent basis for comparison across accounting periods. The amount of employer payroll tax-related items on employee stock transactions is dependent on restricted stock unit settlements, option exercises, related stock price, and other factors that are beyond Procore’s control and that do not correlate to the operation of the business. When evaluating the performance of its business and making operating plans, Procore does not consider these items (for example, when considering the impact of equity award grants, we place a greater emphasis on overall stockholder dilution than the accounting charges associated with such grants). Since the amount of employer payroll tax-related items on employee stock transactions is highly variable due to factors outside our control, and unrelated to Procore’s core operations, operating results, revenue-generating activities, business strategy, industry, or regulatory environment, management does not consider employer payroll tax on employee stock transactions in the evaluation of the business or in making operating plans. Accordingly, Procore believes this adjustment in arriving at our non-GAAP measures provides investors with a better understanding of the performance of its core business in a manner that is consistent with management’s view of the business. Acquisition-related expenses include external and incremental transaction costs, such as legal and due diligence costs and retention or other compensation payments. These expenses are unpredictable and generally would not have otherwise been incurred in the periods presented as part of our continuing operations. In addition, the size and complexity of an acquisition, which often drives the magnitude of acquisition-related expenses, may not be indicative of such future costs. Procore believes that excluding acquisition-related expenses facilitates the comparison of its financial results to its historical operating results and to other companies in its industry. Overall, Procore believes it is useful to exclude these expenses in order to better understand the long-term performance of its core business and to facilitate comparison of its results period-over-period and to those of peer companies. All of these non-GAAP financial measures are important tools for financial and operational decision-making and for evaluating Procore's own operating results over different periods of time.

Non-GAAP financial measures may not provide information that is directly comparable to information provided by other companies in Procore's industry, as other companies in the industry may calculate non-GAAP financial measures differently. In addition, there are limitations in using non-GAAP financial measures because non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by other companies, and exclude expenses that may have a material impact on Procore's reported financial results. Unlike stock-based compensation expense, employer payroll tax related to employee stock transactions is a cash expense that we will continue to incur in the future. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP. Investors should review the reconciliation of non-GAAP financial measures to the comparable GAAP financial measures included below, and not rely on any single financial measure to evaluate Procore's business.
Free Cash Flow: Procore defines free cash flow as net cash provided by operating activities, less purchases of property and equipment and capitalized software development costs. Procore believes free cash flow is an important liquidity measure of the cash (if any) that is available, after our operating activities and capital expenditures. Procore uses free cash flow in conjunction with traditional GAAP measures to assess its liquidity and evaluate the effectiveness of its business strategies. Once Procore’s business needs and obligations are met, cash can be used to maintain a strong balance sheet, invest in future growth, and execute our stock repurchase program.



Other Metrics
Customer Count: The aforementioned customer count excludes customers acquired from business combinations that do not have standard Procore annual contracts.
Gross Revenue Retention Rate and Annual Recurring Revenue: For information on how we calculate gross revenue retention rate and annual recurring revenue, refer to our most recent Quarterly Report on Form 10-Q.
About Procore
Procore Technologies, Inc. (NYSE: PCOR) is a leading technology partner for every stage of construction. Built for the industry, Procore’s unified technology platform drives efficiency and mitigates risk through AI & data-driven insights and decision making. Over three million projects have run on Procore across 150+ countries. For more information, visit www.procore.com.
Media Contact
press@procore.com
Investor Contact
ir@procore.com

Procore Technologies, Inc.
Condensed Consolidated Statements of Operations (unaudited)

Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands, except share and per share amounts)
Revenue$323,919 $284,347 $634,551 $553,775 
Cost of revenue(1)(2)(3)
67,732 48,101 132,658 93,824 
Gross profit256,187 236,246 501,893 459,951 
Operating expenses
Sales and marketing(1)(2)(3)(4)
141,897 127,922 280,581 248,916 
Research and development(1)(2)(3)(4)
88,902 72,308 176,511 142,907 
General and administrative(1)(3)(4)
55,655 50,792 111,313 101,810 
Total operating expenses286,454 251,022 568,405 493,633 
Loss from operations(30,267)(14,776)(66,512)(33,682)
Interest income5,015 5,814 11,012 11,752 
Interest expense(298)(472)(583)(951)
Accretion income, net2,027 3,761 4,474 6,849 
Other income (expense), net2,023 (148)2,414 (492)
Loss before (benefit from) provision for income taxes(21,500)(5,821)(49,195)(16,524)
(Benefit from) provision for income taxes(411)490 4,883 753 
Net loss$(21,089)$(6,311)$(54,078)$(17,277)
Net loss per share attributable to common stockholders, basic and diluted$(0.14)$(0.04)$(0.36)$(0.12)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted149,663,744146,938,942149,829,900146,207,469




(1)Includes stock-based compensation expense and amortization of capitalized stock-based compensation as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands)
Cost of revenue$5,868 $3,683 $11,136 $6,868 
Sales and marketing17,589 15,671 32,539 28,691 
Research and development21,237 17,628 39,661 31,363 
General and administrative13,718 13,961 26,100 25,690 
Total stock-based compensation expense*$58,412 $50,943 $109,436 $92,612 
*Includes amortization of capitalized stock-based compensation of $2.8 million and $1.7 million, respectively, for the three months ended June 30, 2025 and 2024; and $5.6 million and $3.3 million, respectively, for the six months ended June 30, 2025 and 2024; which was initially capitalized as capitalized software and cloud-computing arrangement implementation costs.
(2)Includes amortization of acquired intangible assets as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands)
Cost of revenue$8,015 $6,156 $15,617 $12,041 
Sales and marketing3,346 3,145 6,651 6,251 
Research and development658 665 1,290 1,340 
Total amortization of acquired intangible assets$12,019 $9,966 $23,558 $19,632 
(3)Includes employer payroll tax on employee stock transactions as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands)
Cost of revenue$200 $161 $461 $373 
Sales and marketing748 788 1,879 2,052 
Research and development1,103 900 2,829 2,568 
General and administrative462 494 1,345 1,539 
Total employer payroll tax on employee stock transactions$2,513 $2,343 $6,514 $6,532 
(4)Includes acquisition-related expenses as follows:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands)
Sales and marketing$138 $1,000 $794 $1,448 
Research and development695 — 1,744 — 
General and administrative166 563 541 563 
Total acquisition-related expenses$999 $1,563 $3,079 $2,011 

Procore Technologies, Inc.
Condensed Consolidated Balance Sheets (unaudited)

June 30,
2025		December 31,
2024
(in thousands)
Assets
Current assets
Cash and cash equivalents$324,262 $437,722 
Marketable securities, current296,618 337,673 
Accounts receivable, net194,103 246,472 
Contract cost asset, current43,439 33,922 
Prepaid expenses and other current assets54,098 44,090 
Total current assets912,520 1,099,879 
Marketable securities, non-current85,869 46,042 
Capitalized software development costs, net127,755 112,321 
Property and equipment, net44,023 43,592 
Right of use assets - finance leases20,521 31,727 
Right of use assets - operating leases33,093 28,790 
Contract cost asset, non-current59,033 47,505 
Intangible assets, net125,974 120,946 
Goodwill574,105 549,651 
Other assets21,208 20,918 
Total assets$2,004,101 $2,101,371 
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable$20,159 $33,146 
Accrued expenses97,561 88,740 
Deferred revenue, current560,598 584,719 
Other current liabilities27,565 21,427 
Total current liabilities705,883 728,032 
Deferred revenue, non-current4,467 5,815 
Finance lease liabilities, non-current27,455 41,352 
Operating lease liabilities, non-current37,678 32,697 
Other liabilities, non-current11,019 5,122 
Total liabilities786,502 813,018 
Stockholders’ equity
Common stock15 15 
Additional paid-in capital2,517,880 2,535,868 
Accumulated other comprehensive loss(1,425)(2,737)
Accumulated deficit(1,298,871)(1,244,793)
Total stockholders’ equity1,217,599 1,288,353 
Total liabilities and stockholders’ equity$2,004,101 $2,101,371 


Remaining performance obligation:
The following table presents our current and non-current RPO at the end of each period:

June 30,Change
20252024DollarPercent
(dollars in thousands)
Remaining performance obligations
Current$879,489 $724,832 $154,657 21%
Non-current464,268 310,381 153,887 50%
Total remaining performance obligations$1,343,757 $1,035,213 $308,544 30%

Procore Technologies, Inc.
Condensed Consolidated Statements of Cash Flows (unaudited)
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands)
Operating activities
Net loss$(21,089)$(6,311)$(54,078)$(17,277)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Stock-based compensation55,591 49,225 103,870 89,357 
Depreciation and amortization27,237 20,843 54,092 40,894 
Accretion of discounts on marketable debt securities, net(1,870)(3,661)(4,295)(6,749)
Abandonment of long-lived assets2,101 312 2,455 580 
Noncash operating lease expense1,374 2,259 2,929 4,993 
Unrealized foreign currency (gain) loss, net(1,014)(365)(2,150)714 
Deferred income taxes(647)1 1,568 2 
(Benefit from) provision for credit losses(57)216 (966)405 
Decrease (increase) in fair value of strategic investments(41)118 183 (641)
Changes in operating assets and liabilities, net of effect of asset acquisitions and business combinations
Accounts receivable(31,709)(19,019)54,618 48,994 
Deferred contract cost assets(13,606)(1,662)(20,175)(2,089)
Prepaid expenses and other assets(1,782)494 (9,236)(190)
Accounts payable(1,903)10,124 (12,973)13,279 
Accrued expenses and other liabilities21,512 3,707 11,632 (30,447)
Deferred revenue(1,741)3,231 (28,309)(10,877)
Operating lease liabilities(1,528)(817)(2,309)(3,108)
Net cash provided by operating activities30,828 58,695 96,856 127,840 
Investing activities
Purchases of property and equipment(2,975)(1,874)(7,008)(3,963)
Capitalized software development costs(17,226)(10,218)(32,557)(19,732)
Purchases of strategic investments, net(352)(862)(902)(1,072)
Purchases of marketable securities(84,008)(222,940)(218,606)(324,374)
Maturities of marketable securities87,872 118,798 223,659 226,099 
Customer repayments of materials financing— 202 — 1,483 
Business combinations, net of cash acquired(262)(25,945)(41,515)(25,945)
Asset acquisitions, net of cash acquired— (3,787)(3,533)(3,792)
Net cash used in investing activities(16,951)(146,626)(80,462)(151,296)
Financing activities
Proceeds from stock option exercises5,293 2,790 7,607 9,915 
Proceeds from employee stock purchase plan14,404 13,187 14,404 13,187 
Repurchases of common stock(3,131)(103,160)
Payment of tax withholding for net share settlement(21,578)(49,855)
Principal payments under finance lease agreements, net of proceeds from lease incentives(412)(220)(800)(669)
Net cash (used in) provided by financing activities(5,424)15,757 (131,804)22,433 
Net increase (decrease) in cash and cash equivalents8,453 (72,174)(115,410)(1,023)
Effect of exchange rate changes on cash2,075 757 1,950 (528)
Cash and cash equivalents, beginning of period313,734 427,656 437,722 357,790 
Cash and cash equivalents, end of period$324,262 $356,239 $324,262 $356,239 

Procore Technologies, Inc.
Reconciliation of GAAP to Non-GAAP Financial Measures (unaudited)

Reconciliation of gross profit and gross margin to non-GAAP gross profit and non-GAAP gross margin:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(dollars in thousands)
Revenue$323,919 $284,347 $634,551 $553,775 
Gross profit256,187 236,246 501,893 459,951 
Stock-based compensation expense5,868 3,683 11,136 6,868 
Amortization of acquired technology intangible assets8,015 6,156 15,617 12,041 
Employer payroll tax on employee stock transactions200 161 461 373 
Non-GAAP gross profit$270,270 $246,246 $529,107 $479,233 
Gross margin79%83%79%83%
Non-GAAP gross margin83%87%83%87%


Reconciliation of operating expenses to non-GAAP operating expenses:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(dollars in thousands)
Revenue$323,919 $284,347 $634,551 $553,775 
GAAP sales and marketing141,897 127,922 280,581 248,916 
Stock-based compensation expense(17,589)(15,671)(32,539)(28,691)
Amortization of acquired intangible assets(3,346)(3,145)(6,651)(6,251)
Employer payroll tax on employee stock transactions(748)(788)(1,879)(2,052)
Acquisition-related expenses(138)(1,000)(794)(1,448)
Non-GAAP sales and marketing$120,076 $107,318 $238,718 $210,474 
GAAP sales and marketing as a percentage of revenue44%45%44%45%
Non-GAAP sales and marketing as a percentage of revenue37%38%38%38%
GAAP research and development$88,902 $72,308 $176,511 $142,907 
Stock-based compensation expense(21,237)(17,628)(39,661)(31,363)
Amortization of acquired intangible assets(658)(665)(1,290)(1,340)
Employer payroll tax on employee stock transactions(1,103)(900)(2,829)(2,568)
Acquisition-related expenses(695)— (1,744)— 
Non-GAAP research and development$65,209 $53,115 $130,987 $107,636 
GAAP research and development as a percentage of revenue27%25%28%26%
Non-GAAP research and development as a percentage of revenue20%19%21%19%
GAAP general and administrative$55,655 $50,792 $111,313 $101,810 
Stock-based compensation expense(13,718)(13,961)(26,100)(25,690)
Employer payroll tax on employee stock transactions(462)(494)(1,345)(1,539)
Acquisition-related expenses(166)(563)(541)(563)
Non-GAAP general and administrative$41,309 $35,774 $83,327 $74,018 
GAAP general and administrative as a percentage of revenue17%18%18%18%
Non-GAAP general and administrative as a percentage of revenue13%13%13%13%


Reconciliation of income from operations and operating margin to non-GAAP income from operations and non-GAAP operating margin:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(dollars in thousands)
Revenue$323,919 $284,347 $634,551 $553,775 
Loss from operations(30,267)(14,776)(66,512)(33,682)
Stock-based compensation expense58,412 50,943 109,436 92,612 
Amortization of acquired intangible assets12,019 9,966 23,558 19,632 
Employer payroll tax on employee stock transactions2,513 2,343 6,514 6,532 
Acquisition-related expenses999 1,563 3,079 2,011 
Non-GAAP income from operations$43,676 $50,039 $76,075 $87,105 
Operating margin(9%)(5%)(10%)(6%)
Non-GAAP operating margin13%18%12%16%


Reconciliation of net loss and net loss per share to non-GAAP net income and non-GAAP net income per share:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands, except share and per share amounts)
Revenue$323,919 $284,347 $634,551 $553,775 
Net loss(21,089)(6,311)(54,078)(17,277)
Stock-based compensation expense58,412 50,943 109,436 92,612 
Amortization of acquired intangible assets12,019 9,966 23,558 19,632 
Employer payroll tax on employee stock transactions2,513 2,343 6,514 6,532 
Acquisition-related expenses999 1,563 3,079 2,011 
Non-GAAP net income$52,854 $58,504 $88,509 $103,510 
Numerator:
Non-GAAP net income$52,854 $58,504 $88,509 $103,510 
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic149,663,744146,938,942149,829,900146,207,469
Effect of dilutive securities: Employee stock awards3,149,3094,653,3964,324,7795,349,382
Weighted-average shares used in computing net income per share attributable to common stockholders, diluted152,813,053151,592,338154,154,679151,556,851
GAAP net loss per share, basic$(0.14)$(0.04)$(0.36)$(0.12)
GAAP net loss per share, diluted$(0.14)$(0.04)$(0.36)$(0.12)
Non-GAAP net income per share, basic$0.35 $0.40 $0.59 $0.71 
Non-GAAP net income per share, diluted$0.35 $0.39 $0.57 $0.68 
Computation of free cash flow:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands)
Net cash provided by operating activities$30,828 $58,695 $96,856 $127,840 
Purchases of property, plant, and equipment(2,975)(1,874)(7,008)(3,963)
Capitalized software development costs(17,226)(10,218)(32,557)(19,732)
Non-GAAP free cash flow$10,627 $46,603 $57,291 $104,145