Matterport, Inc. - MTTR STOCK NEWS

Matterport (MTTR) reported record Q3 2024 financial results with total revenue of $43.8 million, up 8% year-over-year. The company achieved a significant milestone with Q3 annualized recurring revenue surpassing $100 million, representing an 11% increase year-over-year. Total subscribers grew to 1.1 million, up 25%, while square feet under management reached 47.3 billion, up 34%. The company's net loss improved by 14% year-over-year, with non-GAAP net loss showing an 80% improvement. The Fall 2024 Release introduced AI-powered tools for digital twin applications. The pending acquisition by CoStar Group is expected to close in Q4 2024 or Q1 2025.

Matterport (MTTR) has unveiled its Fall 2024 Release, introducing a suite of AI-powered tools designed to revolutionize property management and marketing. Key features include:

• An AI-powered defurnish tool that can remove clutter from virtual property listings with a single click
• An AI-generated property description tool that creates detailed, engaging written descriptions in seconds
• A Merge tool for combining multiple digital twins into cohesive 3D tours of large properties
• Field Tags for real-time documentation during property scanning
• One-click bill-back processing for streamlined expense allocation

These innovations aim to enhance efficiency and creativity for real estate agents, contractors, and property managers, transforming digital twins from static replicas into dynamic canvases for reimagining spaces.

Shapiro Haber & Urmy LLP has announced that Legacy Matterport shareholders may have valuable claims against Matterport (NASDAQ: MTTR). This stems from the July 2021 business combination transaction where Legacy Matterport became public via a SPAC merger. Shareholders who received new Matterport shares during this transaction might be entitled to significant money damages, regardless of whether they still own the shares or have sold them.

The law firm is offering to provide additional information about legal rights in this matter. Interested parties can contact Ian McLoughlin at imcloughlin@shulaw.com or (617) 439-3939. Shapiro Haber & Urmy LLP specializes in representing shareholders and consumers in class actions against corporate defendants, as well as in derivative actions.

Matterport (Nasdaq: MTTR) reported Q2 2024 financial results, showing significant growth and operational improvements. Annualized Recurring Revenue (ARR) reached a record $96.6 million, a 16% increase year-over-year.

Subscription revenue grew 16% to $24.2 million, comprising over 57% of total revenue. Total revenue was $42.2 million.

Total subscribers grew by 28% year-over-year to 1.06 million. Square feet under management reached 44 billion, up 33%.

Net loss per share was $0.45, while Non-GAAP net loss was $0.02 per share, a 71% improvement year-over-year. Cash used in operating activities improved by 64% year-over-year to $11.8 million.

Recent highlights include a pending acquisition by CoStar Group valued at approximately $2.1 billion, the launch of avoided emissions reporting, and partnerships with Crunch Fitness, BMO, and FBS.

Matterport (MTTR) has released its third ESG Report, setting ambitious targets for reducing carbon emissions and fostering gender equality. The company aims to reach net-zero emissions by 2050, transition to recyclable/renewable packaging for Pro3 cameras by 2025, reduce Scope 1 and 2 GHG emissions by 20% by 2030, and achieve gender parity among full-time employees by 2030.

The report highlights Matterport's success in helping customers reduce their carbon footprint through digital twins. Since 2022, each digital twin creator avoids an estimated 0.55 tCO2e per year, while each digital twin prevents about 0.15 tCO2e emissions. Matterport has also partnered with a carbon accounting firm to develop avoided emissions reporting for enterprise customers, providing insights into carbon savings enabled by their platform.

With over 1 million subscribers and 12 million digitized spaces across 178 countries, Matterport continues to drive sustainable practices in various industries, including real estate, construction, retail, and manufacturing.

Matterport (Nasdaq: MTTR), the leading spatial data company, has announced it will release its fiscal 2024 second quarter financial results on Tuesday, August 6, 2024, after market close. The company, which is driving the digital transformation of the built world, will not be holding a conference call or live webcast to discuss these results due to its pending acquisition by CoStar Group, Inc., which was announced on April 22, 2024. Investors and interested parties can access the financial results press release from the Matterport website at investors.matterport.com.

Matterport has achieved AWS IoT Competency status, showcasing its proficiency in IoT technologies. This designation highlights Matterport's ability to help enterprises implement and manage IoT-enabled digital twin projects using AWS cloud services. Matterport's technology excels in data acquisition, management, analysis, and device management, facilitating comprehensive digital twin solutions for businesses. The collaboration with AWS IoT TwinMaker allows for real-time monitoring and predictive maintenance, enhancing operational efficiency. Matterport's achievement underscores its expertise in leveraging AWS to drive cloud transformation and IoT innovation.

Matterport (Nasdaq: MTTR) has partnered with FBS to integrate their digital twin technology into the Flexmls platform, enhancing the property listing process. This collaboration allows Flexmls users to upload Matterport digital twins, which automatically populate property data and media assets, including measurements, dimensions, and media files. This innovation streamlines the listing process, minimizes errors, and saves time by eliminating manual data entry. The partnership aims to provide accurate dimensional data to improve the buying experience for home seekers and enhance efficiency for real estate professionals. This new functionality benefits over 320,000 real estate professionals who use Flexmls, supporting informed decision-making and accelerating the home buying process.

Matterport announced the launch of avoided emissions reporting for select enterprise customers to measure carbon savings via its digital twin platform. Developed with independent carbon accounting experts, the reports help companies understand emissions avoided by remote collaboration instead of on-site visits. These reports support businesses' sustainability goals by showcasing reductions in Scope 3 emissions. They also highlight cost savings and productivity gains. Currently available to select customers, the reports will be broadly released later this year, with enhancements based on feedback.