Procore’s $845M DroneDeploy buy marks first GAAP profit and signals AI push
Procore reported $1.5 billion ARR with 16 % YoY growth and its first GAAP operating profit, then dropped $845 million cash to buy DroneDeploy. The deal, priced at ~11 × DroneDeploy’s revenue, gives the construction SaaS leader a visual‑intelligence platform and marks its first foray into leverage, underscoring a strategic AI push.