Matterport, Inc. - MTTR STOCK NEWS

Matterport, Inc. (Nasdaq: MTTR) has announced its participation in several investor conferences. The Deutsche Bank 2022 Technology Conference is set for August 31, 2022, at 7:30 a.m. PT in Las Vegas. Following this, the Wolfe Research TMT Conference will take place on September 9, 2022, in San Francisco. Finally, the Piper Sandler Growth Frontiers Conference is scheduled for September 13, 2022, at 4:30 p.m. CT in Nashville. Live webcasts of the presentations will be available on Matterport's investor relations website.

Matterport, Inc. (MTTR) reported a strong Q2 2022, with subscription revenue rising 20% year-over-year to $18.4 million, exceeding guidance. The company reported a GAAP loss per share of $0.23 and a non-GAAP loss per share of $0.12, better than expected. Full-year revenue guidance was raised to $132-$138 million. The company has a solid balance sheet with $562 million in cash, no debt, and a strong growth in subscribers, expanding by 52% to 616,000.

Matterport, Inc. (Nasdaq: MTTR) will release its fiscal 2022 second quarter financial results on August 10, 2022, after market close. A conference call will be held at 1:30 p.m. PT (4:30 p.m. ET) to discuss these results, accessible via dial-in at (412) 902-4209, conference ID: 10168897. Additionally, investors can find a financial results press release and live webcast on the company's website. Matterport specializes in digital transformation of physical spaces, converting buildings into immersive digital twins. Financial results are anticipated to reflect the company's performance in this innovative sector.

Matterport has partnered with Burns & McDonnell to utilize its Digital Twin Platform, targeting a 30% reduction in project schedules and 80% less travel for clients. This collaboration enables businesses in the energy, utilities, and manufacturing sectors to enhance documentation and operational safety through 3D digital twins. Clients like Central Lincoln People’s Utility District report significant savings and efficiency gains since adopting this technology. Matterport aims to streamline collaboration and project management across the architecture, engineering, and construction industry.

Matterport, Inc. (Nasdaq: MTTR) announced the appointment of Susan Repo to its board of directors effective July 11, 2022. Repo, currently CFO at ICEYE, brings extensive experience from leadership roles at Tesla, MariaDB, Juniper Networks, and Agilent Technologies. She will also chair the audit committee, enhancing Matterport's strategic direction as the company expands into new sectors leveraging its Digital Twin technology. The board will now consist of five directors, four being independent.

Matterport (Nasdaq: MTTR) announced its acquisition of VHT Studios, enhancing its real estate digital marketing services. This strategic move aims to merge Matterport's digital twin technology with VHT’s visual media services, including photography and drone capture. The acquisition targets increased adoption of digital twin technology and expansion into commercial real estate, travel, and retail markets. Matterport currently holds around $600 million in cash, which supports this integration and future growth opportunities.

Matterport, Inc. (Nasdaq: MTTR) will be included in the Russell 2000® Index as part of the annual reconstitution effective June 27, 2022. This membership signifies a validation of Matterport's position in the market, following its public listing and successful capital raise of $745 million. The company specializes in turning physical spaces into digital twins for various sectors, supported by over 100,000 businesses worldwide. Inclusion in the Russell 2000 enhances the visibility of Matterport's services in a large asset class valued at $327 trillion.

Matterport (Nasdaq: MTTR) will participate in the Wells Fargo 4th Annual Bricks to Clicks Digital Conference on June 28, 2022, at 12:00 p.m. ET. The presentation will be available via a live webcast and archived on Matterport's investor relations website.

Matterport is recognized as a leader in the digital transformation of the built world, enhancing the value and accessibility of buildings through its spatial data platform, which has created digital twins of millions of spaces across 177 countries.

Matterport (Nasdaq: MTTR) has reported that GUESS? Inc. has achieved a 200% increase in productivity and a 30% decrease in travel costs through the adoption of Matterport's digital twins and Bigtincan's sales enablement solution. Since using digital twins, GUESS has also realized a 95% reduction in departmental printing costs. This technology supports remote training, enhances brand consistency, and facilitates a seamless virtual experience for buyers, doubling showroom appointments and improving global collaboration.