Matterport Announces Fourth Quarter 2024 Financial Results, with Over 50 Billion in Square Feet Under Management, up 33%, and Total Subscription Revenue up 14%, Year-over-Year
Matterport (MTTR) reported strong Q4 and full year 2024 results, with total square feet digitized reaching 50.7 billion, up 33% year-over-year. The company achieved record subscription revenue of $99.6 million for the full year, a 14% increase from 2023.
Q4 highlights include total revenue of $43.8 million and annualized recurring revenue (ARR) of $104.2 million. The company's non-GAAP net loss per share improved by 50% year-over-year to $0.02. Total subscribers grew to 1.2 million, up 23% year-over-year.
The company launched its 2025 Winter Release, introducing Matterport Marketing Cloud and new features like Model Merge and tag management. A pending acquisition by CoStar Group, approved by stockholders in July 2024, is expected to close in Q1 2025.
Matterport (MTTR) ha riportato risultati solidi per il quarto trimestre e l'intero anno 2024, con un totale di metri quadrati digitalizzati che ha raggiunto 50,7 miliardi, in aumento del 33% rispetto all'anno precedente. L'azienda ha ottenuto entrate da abbonamenti record di 99,6 milioni di dollari per l'intero anno, un aumento del 14% rispetto al 2023.
I punti salienti del quarto trimestre includono un fatturato totale di 43,8 milioni di dollari e un fatturato ricorrente annualizzato (ARR) di 104,2 milioni di dollari. La perdita netta per azione non-GAAP dell'azienda è migliorata del 50% rispetto all'anno precedente, arrivando a $0,02. Il numero totale di abbonati è cresciuto a 1,2 milioni, con un aumento del 23% anno su anno.
L'azienda ha lanciato il 2025 Winter Release, introducendo Matterport Marketing Cloud e nuove funzionalità come Model Merge e gestione dei tag. Un'acquisizione in sospeso da parte di CoStar Group, approvata dagli azionisti a luglio 2024, dovrebbe concludersi nel primo trimestre del 2025.
Matterport (MTTR) reportó resultados sólidos para el cuarto trimestre y el año completo 2024, con un total de pies cuadrados digitalizados que alcanzó 50.7 mil millones, un aumento del 33% interanual. La compañía logró ingresos por suscripción récord de 99.6 millones de dólares para el año completo, un incremento del 14% respecto a 2023.
Los aspectos destacados del cuarto trimestre incluyen ingresos totales de 43.8 millones de dólares y un ingreso recurrente anualizado (ARR) de 104.2 millones de dólares. La pérdida neta por acción no-GAAP de la compañía mejoró en un 50% interanual a $0.02. El total de suscriptores creció a 1.2 millones, un aumento del 23% en comparación con el año anterior.
La compañía lanzó su 2025 Winter Release, introduciendo Matterport Marketing Cloud y nuevas funciones como Model Merge y gestión de etiquetas. Una adquisición pendiente por parte de CoStar Group, aprobada por los accionistas en julio de 2024, se espera que se cierre en el primer trimestre de 2025.
Matterport (MTTR)는 2024년 4분기 및 연간 실적이 강력하게 나타났으며, 디지털화된 총 면적이 507억 제곱피트에 도달하여 전년 대비 33% 증가했습니다. 이 회사는 연간 9960만 달러의 기록적인 구독 수익을 달성했으며, 이는 2023년 대비 14% 증가한 수치입니다.
4분기 주요 내용으로는 총 수익 4380만 달러와 연간 반복 수익(ARR) 1억 420만 달러가 포함됩니다. 회사의 비-GAAP 주당 순손실은 전년 대비 50% 개선되어 $0.02에 달했습니다. 총 구독자는 120만 명으로, 전년 대비 23% 증가했습니다.
회사는 2025 Winter Release를 출시하며 Matterport Marketing Cloud와 Model Merge 및 태그 관리와 같은 새로운 기능을 도입했습니다. 2024년 7월 주주들의 승인을 받은 CoStar Group의 인수는 2025년 1분기에 마무리될 것으로 예상됩니다.
Matterport (MTTR) a annoncé des résultats solides pour le quatrième trimestre et l'année entière 2024, avec un total de pieds carrés numérisés atteignant 50,7 milliards, soit une augmentation de 33 % par rapport à l'année précédente. L'entreprise a réalisé un chiffre d'affaires record d'abonnements de 99,6 millions de dollars pour l'année complète, soit une augmentation de 14 % par rapport à 2023.
Les points forts du quatrième trimestre incluent un chiffre d'affaires total de 43,8 millions de dollars et un revenu récurrent annualisé (ARR) de 104,2 millions de dollars. La perte nette par action non-GAAP de l'entreprise s'est améliorée de 50 % d'une année sur l'autre, atteignant 0,02 $. Le nombre total d'abonnés a augmenté à 1,2 million, soit une augmentation de 23 % par rapport à l'année précédente.
L'entreprise a lancé son 2025 Winter Release, introduisant Matterport Marketing Cloud et de nouvelles fonctionnalités telles que Model Merge et la gestion des étiquettes. Une acquisition en attente par CoStar Group, approuvée par les actionnaires en juillet 2024, devrait se conclure au premier trimestre 2025.
Matterport (MTTR) hat starke Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 gemeldet, wobei die insgesamt digitalisierten Quadratfuß 50,7 Milliarden erreichten, was einem Anstieg von 33% im Vergleich zum Vorjahr entspricht. Das Unternehmen erzielte Rekordabonnementeinnahmen von 99,6 Millionen Dollar für das gesamte Jahr, ein Anstieg von 14% gegenüber 2023.
Die Höhepunkte des vierten Quartals umfassen einen Gesamtumsatz von 43,8 Millionen Dollar und wiederkehrende jährliche Einnahmen (ARR) von 104,2 Millionen Dollar. Der non-GAAP Nettoverlust pro Aktie des Unternehmens verbesserte sich im Jahresvergleich um 50% auf $0,02. Die Gesamtzahl der Abonnenten wuchs auf 1,2 Millionen, was einem Anstieg von 23% im Vergleich zum Vorjahr entspricht.
Das Unternehmen hat sein 2025 Winter Release eingeführt, das Matterport Marketing Cloud und neue Funktionen wie Model Merge und Tag-Management vorstellt. Eine ausstehende Übernahme durch die CoStar Group, die von den Aktionären im Juli 2024 genehmigt wurde, soll im ersten Quartal 2025 abgeschlossen werden.
- Record subscription revenue of $99.6M, up 14% YoY
- Q4 ARR grew to $104.2M
- Total subscribers increased 23% YoY to 1.2M
- Square feet under management up 33% YoY to 50.7B
- Non-GAAP net loss per share improved 50% YoY to $0.02
- Net loss of $0.12 per share in Q4
- Annual net loss of $0.80 per share in FY2024
- Total revenue growth to 8% YoY
Insights
Matterport's Q4 2024 results reveal a company successfully executing its subscription-focused business model while making significant progress toward profitability. The $104.2 million in annualized recurring revenue and $99.6 million in subscription revenue (up
The
While subscription revenue grew robustly, total revenue increased by only
Matterport's product innovation strategy appears tightly focused on real estate applications, with the new Marketing Cloud platform and AI-powered features like one-click defurnishing directly addressing pain points for property professionals. This strategic focus aligns perfectly with CoStar Group's business, explaining the acquisition rationale.
The pending CoStar acquisition (stockholder-approved and expected to close in Q1 2025) represents a significant consolidation in the property technology space. For CoStar, Matterport's 50.7 billion square feet of spatial data represents an enormous asset that could enhance their existing offerings while eliminating a potential competitor.
Matterport's improving unit economics and growing recurring revenue stream, combined with their proprietary spatial data assets, position them as a valuable acquisition target despite not yet achieving profitability on a GAAP basis.
Matterport's Q4 results reveal how their massive spatial dataset - now exceeding 50.7 billion square feet - has become a strategic moat enabling increasingly sophisticated AI applications. This data volume represents the world's largest digital twin repository, providing the training foundation for their proprietary Property Intelligence AI.
The new Model Merge capability solves a critical technical bottleneck in the industry - the time-consuming process of capturing large or complex spaces. By enabling multiple simultaneous scanners with automatic combination into a unified digital twin, Matterport has effectively parallelized what was previously a serial process, potentially reducing capture time by
Their one-click defurnishing tool demonstrates advanced computer vision and generative AI capabilities, analyzing spatial geometry and textures to digitally remove furniture while maintaining architectural integrity - a technically complex task requiring sophisticated scene understanding. This feature addresses a persistent pain point in real estate marketing that previously required expensive professional editing.
The tag management system introduces a metadata layer to their spatial platform, enabling semantic understanding of spaces beyond pure visual representation. This structured approach to spatial data creates opportunities for advanced analytics and automated compliance verification in regulated industries.
Matterport's AWS competencies in Manufacturing, Industrial, and Energy sectors indicate they've developed specialized capabilities for these verticals, likely including equipment recognition, maintenance workflow integration, and safety compliance features.
For CoStar, acquiring Matterport provides not just a complementary product but a technological foundation for next-generation property intelligence. Matterport's spatial data processing pipeline and AI models could be integrated with CoStar's property database to create unprecedented insights into commercial real estate assets.
Compared to competitors focused on either high-precision industrial scanning or consumer-grade visualization, Matterport has uniquely positioned itself at the intersection of accessibility and accuracy, with a platform approach that prioritizes data utility across multiple use cases.
- Record full year subscription revenue of
$99.6 million , up14% year-over-year - Q4 annualized recurring revenue (ARR) grows to
$104.2 million - Record full year total revenue of
$169.7 million - Total subscribers grew to 1.2 million, up
23% year-over-year
SUNNYVALE, Calif., Feb. 26, 2025 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR) (“Matterport” or the “Company”), the leading spatial data company driving the digital transformation of the built
world, today announced financial results for the quarter and year ended December 31, 2024.
“I’m pleased to share our fourth quarter and full year 2024 results, highlighting our continued success driving efficient growth while doubling down on innovation. Total square feet digitized and managed reached a significant company milestone of 50.7 billion, up
“Matterport’s 2025 Winter Release redefines what’s possible for digital twins and real estate marketing, introducing advanced automation and AI-driven capabilities that streamline property workflows and elevate listings. With the launch of Matterport Marketing Cloud, agents now have an all-in-one platform that simplifies every step of the property marketing process. Customers are raving about our one-click defurnish tool, now available to all users, making listings cleaner and more market-ready in an instant. New features like tag management and Model Merge are unlocking new efficiencies for customers tackling large or complex projects,” Pittman added.
“In 2024, we achieved a record
Fourth Quarter and Full Year 2024 Financial Highlights
- Q4 Annualized Recurring Revenue (ARR) was
$104.2 million - Q4 total revenue of
$43.8 million - Q4 net loss of
$0.12 per share, and Q4 Non-GAAP net loss of$0.02 per share, a50% improvement year-over-year - FY2024 total revenue of
$169.7 million , up8% from prior year - FY2024 net loss of
$0.80 per share, and annual Non-GAAP net loss of$0.06 per share, a73% improvement year-over-year - FY2024 square feet under management reached 50.7 billion, up
33% year-over-year - FY2024 spaces under management reached 14.1 million, up
21% year-over-year - FY2024 total subscribers reached 1.2 million, up
23% year-over-year
Recent Business Highlights
- Just launched the 2025 Winter Release: Productivity Multiplied, a suite of new capabilities designed to boost productivity and streamline workflows for real estate agents, designers, property managers, and contractors. Key developments include:
- Unveiled Matterport Marketing Cloud, powered by Property Intelligence, Matterport’s proprietary AI, delivering a seamless, all-in-one platform that simplifies property marketing from start to finish. Marketing Cloud integrates media creation, editing, distribution, and analytics into a single, intuitive experience—fully optimized for MLS listings.
- Model Merge – Multiple users can now scan a property simultaneously and combine their work into a single digital twin, significantly accelerating project completion.
- Field tags – Teams can now create real-time annotations while capturing a space, ensuring accurate documentation from the start.
- Tag management – Easily copy tags from one digital twin to another, eliminating redundant work.
- Launched the 2024 Fall Release: Insights Meets Imagination introducing generative AI-powered design tools that transform digital twins into interactive, creative canvases—helping professionals reimagine, redesign, and market spaces with ease.
- Achieved Manufacturing and Industrial Competency status, along with AWS Energy Competency status in the Health, Safety, and Environment category. These recognitions underscore Matterport’s leadership in helping businesses leverage AWS cloud technology through advanced software and service offerings.
- Celebrated the Top 5 Most Viewed Spaces of 2024, showcasing the world’s most captivating digital twins—from iconic landmarks to immersive travel experiences. This annual list highlights the most-loved digital destinations while reinforcing Matterport’s industry-defining innovation.
Transaction with CoStar Group, Inc.
Given the pending acquisition of Matterport by CoStar Group, Inc. that was announced on April 22, 2024, Matterport will not be holding a conference call or live webcast to discuss quarterly financial results. Also, in light of the pending transaction, the Company had previously suspended its financial guidance and will not be providing financial guidance for the upcoming fiscal quarter. At a special meeting of stockholders held on July 26, 2024, Matterport stockholders approved the transaction with CoStar Group, Inc. The completion of the transaction remains subject to the satisfaction or waiver of customary closing conditions specified in Matterport’s agreement with CoStar Group, Inc. The transaction is expected to close in the first quarter of 2025.
Non-GAAP Financial Information
Matterport has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). We believe that the presentation of non-GAAP financial information provides important supplemental information to management and investors regarding financial and business trends relating to Matterport’s financial condition and results of operations.
The presentation of these non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP. For further information regarding these non-GAAP measures, including the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, please refer to the financial tables below.
Non-GAAP Net Loss and Non-GAAP Net Loss Per Share, Basic and Diluted. Matterport defines non-GAAP net loss as net loss, adjusted to exclude stock-based compensation-related charges (including share-based payroll tax expense), fair value change of warrants liability, amortization of acquired intangible assets, litigation expense, restructuring charges, and acquisition transaction costs related to the pending transaction with CoStar Group, in order to provide investors and management with greater visibility to the underlying performance of Matterport’s recurring core business operations. We define non-GAAP net loss per share, as non-GAAP net loss divided by the weighted-average shares outstanding, which includes the dilutive effect of potentially diluted common stock equivalents outstanding during the period if any.
About Matterport
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins.
©2025 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.
Investor Contact:
ir@matterport.com
Media Contact:
press@matterport.com
Forward-Looking Statements
This communication contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the proposed transaction, the products and services offered by Matterport and the markets in which Matterport operates, business strategies, debt levels, industry environment including the global supply chain, potential growth opportunities, and the effects of regulations and Matterport’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this communication, including the inability to consummate the proposed transaction with CoStar Group, Inc. (the “proposed transaction”) within the anticipated time period, or at all, due to any reason, including the failure to satisfy the conditions to the consummation of the proposed transaction; the risk that the proposed transaction disrupts Matterport’s current plans and operations or diverts management’s attention from its ongoing business; the effects of the proposed transaction on Matterport’s business, operating results, and ability to retain and hire key personnel and maintain relationships with customers, suppliers and others with whom Matterport does business; the risk that Matterport’s stock price may decline significantly if the proposed transaction is not consummated; the nature, cost and outcome of any legal proceedings related to the proposed transaction; Matterport’s ability to grow market share in existing markets or any new markets Matterport may enter; Matterport’s ability to respond to general economic conditions; supply chain disruptions; Matterport’s ability to manage growth effectively; Matterport’s success in retaining or recruiting officers, key employees or directors, or changes required in the retention or recruitment of officers, key employees or directors; the impact of restructuring plans; the impact of the regulatory environment and complexities with compliance related to such environment; factors relating to Matterport’s business, operations and financial performance, including the impact of infectious diseases, health epidemics and pandemics; Matterport’s ability to maintain an effective system of internal controls over financial reporting; Matterport’s ability to achieve and maintain profitability in the future; Matterport’s ability to access sources of capital; Matterport’s ability to maintain and enhance Matterport’s products and brand, and to attract customers; Matterport’s ability to manage, develop and refine Matterport’s technology platform; the success of Matterport’s strategic relationships with third parties; Matterport’s history of losses and whether Matterport will continue to incur continuing losses for the foreseeable future; Matterport’s ability to protect and enforce Matterport’s intellectual property rights; Matterport’s success in defending or appealing any pending or future litigation, claims or demands; Matterport’s ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities; Matterport’s ability to attract and retain new subscribers; the size of the total addressable market for Matterport’s products and services; the continued adoption of spatial data; any inability to complete acquisitions and integrate acquired businesses; general economic uncertainty and the effect of general economic conditions in Matterport’s industry; environmental uncertainties and risks related to adverse weather conditions and natural disasters; the volatility of the market price and liquidity of Matterport’s Class A common stock and other securities; the increasingly competitive environment in which Matterport operates; and other factors detailed under the section entitled “Risk Factors” in Matterport’s Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations.
| MATTERPORT, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data) (Unaudited) | |||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Revenue: | |||||||||||||||
| Subscription | $ | 26,055 | $ | 23,701 | $ | 99,590 | $ | 87,348 | |||||||
| Services | 10,195 | 8,297 | 41,264 | 37,621 | |||||||||||
| Product | 7,568 | 7,547 | 28,845 | 32,779 | |||||||||||
| Total revenue | 43,818 | 39,545 | 169,699 | 157,748 | |||||||||||
| Costs of revenue: | |||||||||||||||
| Subscription | 8,443 | 7,431 | 32,567 | 29,007 | |||||||||||
| Services | 6,545 | 5,665 | 28,293 | 26,643 | |||||||||||
| Product | 6,589 | 8,231 | 25,926 | 31,608 | |||||||||||
| Total costs of revenue | 21,577 | 21,327 | 86,786 | 87,258 | |||||||||||
| Gross profit | 22,241 | 18,218 | 82,913 | 70,490 | |||||||||||
| Operating expenses: | |||||||||||||||
| Research and development | 15,410 | 14,594 | 60,931 | 67,305 | |||||||||||
| Selling, general, and administrative | 50,767 | 52,764 | 200,836 | 217,424 | |||||||||||
| Litigation expense | — | — | 95,000 | — | |||||||||||
| Total operating expenses | 66,177 | 67,358 | 356,767 | 284,729 | |||||||||||
| Loss from operations | (43,936 | ) | (49,140 | ) | (273,854 | ) | (214,239 | ) | |||||||
| Other income (expense): | |||||||||||||||
| Interest income | 3,510 | 1,881 | 11,608 | 6,406 | |||||||||||
| Change in fair value of warrants liability | 62 | (51 | ) | (833 | ) | 513 | |||||||||
| Other income (expense), net | (197 | ) | 3,352 | 6,565 | 8,427 | ||||||||||
| Total other income | 3,375 | 5,182 | 17,340 | 15,346 | |||||||||||
| Loss before provision (benefit) for income taxes | (40,561 | ) | (43,958 | ) | (256,514 | ) | (198,893 | ) | |||||||
| Provision for (benefit from) income taxes | (55 | ) | (13 | ) | 107 | 184 | |||||||||
| Net loss | $ | (40,506 | ) | $ | (43,945 | ) | $ | (256,621 | ) | $ | (199,077 | ) | |||
| Net loss per share, basic and diluted | $ | (0.12 | ) | $ | (0.14 | ) | $ | (0.80 | ) | $ | (0.66 | ) | |||
| Weighted-average shares used in per share calculation, basic and diluted | 325,010 | 308,030 | 319,015 | 300,697 | |||||||||||
| MATTERPORT INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) | |||||||
| Year Ended December 31, | |||||||
| 2024 | 2023 | ||||||
| (unaudited) | |||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 57,228 | $ | 82,902 | |||
| Restricted cash | 96,330 | — | |||||
| Short-term investments | 189,372 | 305,264 | |||||
| Accounts receivable, net | 13,180 | 16,925 | |||||
| Inventories | 5,576 | 9,115 | |||||
| Prepaid expenses and other current assets | 8,723 | 8,635 | |||||
| Total current assets | 370,409 | 422,841 | |||||
| Property and equipment, net | 29,718 | 32,471 | |||||
| Operating lease right-of-use assets | 91 | 625 | |||||
| Long-term investments | 57,611 | 34,834 | |||||
| Goodwill | 69,593 | 69,593 | |||||
| Intangible assets, net | 7,350 | 9,120 | |||||
| Other assets | 8,896 | 7,671 | |||||
| Total assets | $ | 543,668 | $ | 577,155 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities | |||||||
| Accounts payable | $ | 9,254 | $ | 7,586 | |||
| Deferred revenue | 27,861 | 23,294 | |||||
| Accrued expenses and other current liabilities | 106,613 | 13,354 | |||||
| Total current liabilities | 143,728 | 44,234 | |||||
| Warrants liability | 1,123 | 290 | |||||
| Deferred revenue, non-current | 1,674 | 3,141 | |||||
| Other long-term liabilities | — | 206 | |||||
| Total liabilities | 146,525 | 47,871 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ equity: | |||||||
| Common stock | 33 | 31 | |||||
| Additional paid-in capital | 1,432,064 | 1,307,324 | |||||
| Accumulated other comprehensive income | 141 | 403 | |||||
| Accumulated deficit | (1,035,095 | ) | (778,474 | ) | |||
| Total stockholders’ equity | 397,143 | 529,284 | |||||
| Total liabilities and stockholders’ equity | $ | 543,668 | $ | 577,155 | |||
| MATTERPORT, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands, unaudited) | |||||||
| Year Ended December 31, | |||||||
| 2024 | 2023 | ||||||
| CASH FLOWS FROM OPERATING ACTIVITIES | |||||||
| Net Loss | $ | (256,621 | ) | $ | (199,077 | ) | |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||||
| Depreciation and amortization | 23,242 | 19,437 | |||||
| Amortization of investment premiums, net of accretion of discounts | (7,999 | ) | (8,919 | ) | |||
| Stock-based compensation, net of amounts capitalized | 113,055 | 118,775 | |||||
| Cease use of certain leased facilities | — | 961 | |||||
| Change in fair value of warrants liability | 833 | (513 | ) | ||||
| Deferred income taxes | 70 | (121 | ) | ||||
| Allowance for doubtful accounts | 699 | 601 | |||||
| Loss of excess inventory and purchase obligation | — | 1,821 | |||||
| Other | 374 | (185 | ) | ||||
| Changes in operating assets and liabilities, net of effects of businesses acquired: | |||||||
| Accounts receivable | 3,046 | 3,318 | |||||
| Inventories | 3,539 | (3,830 | ) | ||||
| Prepaid expenses and other assets | 677 | 3,036 | |||||
| Accounts payable | 1,618 | (745 | ) | ||||
| Deferred revenue | 3,100 | 8,503 | |||||
| Accrued expenses and other liabilities | 93,054 | (1,775 | ) | ||||
| Net cash used in operating activities | (21,313 | ) | (58,713 | ) | |||
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
| Purchases of property and equipment | (246 | ) | (139 | ) | |||
| Capitalized software and development costs | (9,320 | ) | (9,765 | ) | |||
| Purchase of investments | (210,780 | ) | (444,695 | ) | |||
| Maturities of investments | 310,106 | 478,253 | |||||
| Business acquisitions, net of cash acquired | — | (4,116 | ) | ||||
| Net cash provided by (used in) investing activities | 89,760 | 19,538 | |||||
| CASH FLOW FROM FINANCING ACTIVITIES: | |||||||
| Proceeds from sales of shares through employee equity incentive plans | 2,583 | 5,124 | |||||
| Payments for taxes related to net settlement of equity awards | — | (329 | ) | ||||
| Net cash provided by financing activities | 2,583 | 4,795 | |||||
| Net change in cash, cash equivalents, and restricted cash | 71,030 | (34,380 | ) | ||||
| Effect of exchange rate changes on cash | (374 | ) | 154 | ||||
| Cash, cash equivalents, and restricted cash at beginning of year | 82,902 | 117,128 | |||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 153,558 | $ | 82,902 | |||
| MATTERPORT, INC. RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (In thousands, except per share amounts) (unaudited) | |||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| GAAP net loss | $ | (40,506 | ) | $ | (43,945 | ) | $ | (256,621 | ) | $ | (199,077 | ) | |||
| Stock-based compensation expense (1) | 31,278 | 30,474 | 125,071 | 127,755 | |||||||||||
| Restructuring charges (2) | — | 1,149 | — | 4,296 | |||||||||||
| Acquisition-related costs (3) | 3,714 | — | 15,908 | — | |||||||||||
| Amortization expense of acquired intangible assets | 443 | 443 | 1,772 | 1,772 | |||||||||||
| Change in fair value of warrants liabilities (4) | (62 | ) | 51 | 833 | (513 | ) | |||||||||
| Litigation expense (5) | — | — | 95,000 | — | |||||||||||
| Non-GAAP net loss | $ | (5,133 | ) | $ | (11,828 | ) | $ | (18,037 | ) | $ | (65,767 | ) | |||
| GAAP net loss per share attributable to common stockholders, basic and diluted | $ | (0.12 | ) | $ | (0.14 | ) | $ | (0.80 | ) | $ | (0.66 | ) | |||
| Non-GAAP net loss per share attributable to common stockholders, basic and diluted | $ | (0.02 | ) | $ | (0.04 | ) | $ | (0.06 | ) | $ | (0.22 | ) | |||
| Weighted-average shares used to compute net loss per share, basic and diluted | 325,010 | 308,030 | 319,015 | 300,697 | |||||||||||
(1) Consists primarily of non-cash share-based compensation expense related to our stock incentive plans and the employer payroll taxes related to our stock options and restricted stock units.
(2) Consists of severance and other employee separation costs, and cease-use charges for operating lease right-of-use assets due to the reduction of leased office spaces.
(3) Consists of acquisition transaction costs incurred for the pending transaction with CoStar Group, Inc.
(4) Consists of the non-cash fair value measurement change for private warrants.
(5) Represents charges associated with litigation during the year ended December 31, 2024.
This press release was published by a CLEAR® Verified individual.
FAQ
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