Welcome to our dedicated page for Matterport news (Ticker: MTTR), a resource for investors and traders seeking the latest updates and insights on Matterport stock.
Matterport, Inc. (Nasdaq: MTTR) is a leading spatial data company dedicated to digitizing and indexing the built world. Leveraging its innovative 3D media platform, Matterport enables users to create accurate and immersive digital twins of physical spaces. This groundbreaking technology can be utilized across various stages of a building's lifecycle, including design, construction, operation, and marketing.
With its proprietary technology, Matterport has revolutionized the industry by introducing affordable subscription tiers and supporting a wide range of capture devices, including the advanced Pro3 camera. This strategy has democratized 3D capture technology, resulting in a remarkable 75x growth in subscribers over five years, reaching over one million users today. This success underscores Matterport's leadership in the 3D capture and digital twin market.
The company primarily generates revenue through subscription fees, comprising 60% of its total revenue. Matterport’s SaaS-driven approach has significantly enhanced user engagement and adoption rates, fostering revenue growth through renewals, upsells, and new services like Property Intelligence. The company's commitment to innovation and community engagement has cultivated a vibrant user base that leverages the platform for various applications, from property marketing to facilities management, and beyond.
Matterport continues to drive growth and expansion with AI-powered offerings. The Winter 2024 Release introduced automated features that transform data extraction from properties, laying the groundwork for future advancements in property insights. Upcoming generative AI solutions promise to further innovate by allowing users to reimagine and redesign spaces within their digital twins.
Recent achievements include collaborations with major entities like Crunch Fitness and BMO, enhancing brand uniformity and operational efficiencies through Matterport’s digital twin platform. These partnerships exemplify Matterport's ability to provide scalable and precise solutions for diverse industries.
Founded in 2011, Matterport remains at the forefront of the digital transformation of the built world. The company continues to pioneer advancements in 3D capture technology, making it an indispensable tool for millions of buildings across 177 countries. For more information about Matterport and its services, visit matterport.com.
Matterport, Inc. (Nasdaq: MTTR) recently released survey findings indicating that 33% of US homebuyers purchased properties sight unseen, with 89% considering 3D virtual tours essential in their buying process. The survey conducted by OnePoll in June 2022 highlights the effectiveness of digital twins in boosting home sales, particularly amidst rising interest rates. The findings show 62% of buyers see virtual tools as crucial for future purchases, while 31% spent more time on listings featuring 3D tours. The demand for home office space is driving buyer relocations and preferences for virtual tours.
Matterport, Inc. (Nasdaq: MTTR) announced a groundbreaking collaboration with Emmy Award-winning creative director David Korins and hyperrealist artist Robin Eley to create an immersive 3D digital twin of Eley's limited-run exhibition in New York City. This innovative project allows global audiences to experience 18 significant artworks that are usually inaccessible. Utilizing the new Pro3 Camera, the digital twin attracted nearly 2.5 times more visitors than the physical gallery, showcasing the potential of Matterport’s technology to enhance art accessibility and engagement.
Matterport recently unveiled its new Pro3 Camera along with significant updates to its digital twin platform, enhancing 3D capture technology for various enterprises. The Pro3 camera is designed for high-accuracy digital twins, suitable for both outdoor and indoor applications. Demand for digital twins is increasing, with a reported 52% growth in subscribers. Additionally, businesses utilizing these tools have experienced notable productivity gains and cost reductions. The Pro3 is priced at $5,999, with availability starting in September 2022.
Matterport, a leader in spatial data technology, has announced a partnership with the North Carolina Regional MLS (NCRMLS) to integrate its Digital Twin Platform with the new showing management system, BrokerBay. This collaboration aims to facilitate virtual tours and open houses, enhancing the homebuying experience for Realtors and clients. With studies indicating that 34% of recent homebuyers relocated over 50 miles, the integration will support remote buyers significantly. NCRMLS will also provide training for Realtors to leverage Matterport’s tools effectively.
Matterport (Nasdaq: MTTR) has partnered with TD SYNNEX (NYSE: SNX) to enhance its distribution in the North American market, aiming to capitalize on opportunities within the nearly 1 billion physical spaces in the U.S. This collaboration will leverage TD SYNNEX's extensive network of 150,000 resellers to promote Matterport's leading spatial data solutions across various industries, including real estate and construction. The partnership is set to drive the adoption of digital twins technology, providing significant efficiency and cost savings for businesses.
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.
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