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 (Nasdaq: MTTR) has formed a partnership with CGS to integrate digital twins into augmented and virtual reality training solutions for frontline workers. This collaboration aims to enhance training efficiency, reduce costs, and support remote workforce training using CGS's TeamworkAR platform alongside Matterport's photorealistic digital twins. With over 100,000 businesses utilizing Matterport's platform, the solution is expected to significantly accelerate training processes and improve operational effectiveness during workforce shortages.
Matterport, Inc. (Nasdaq: MTTR) announced a partnership with SBP, a disaster relief non-profit, to enhance recovery efforts for marginalized homeowners. Through its Exploration to Equity program, Matterport donated products and services to help SBP create digital twins of damaged properties, aimed at accelerating FEMA assistance for families affected by tornadoes in December 2021. SBP intends to initially support at least 100 low-income tornado survivors with this technology, streamlining damage assessments and appeals for FEMA support.
Matterport has successfully completed a SOC 2 Type II audit for confidentiality, affirming its commitment to customer data security. This certification is crucial for its enterprise customers, including notable clients like Salt River Project, which utilizes Matterport's digital twins for operational efficiency and regulatory compliance. The audit, verified by an independent CPA firm, enhances Matterport's credibility in the market, showcasing its dedication to safeguarding sensitive information across its platform.
Matterport, Inc. (Nasdaq: MTTR) has announced its participation in several upcoming investor conferences. These events include the J.P. Morgan Global Technology, Media and Communications Conference on May 24, 2022, the Jefferies Software Conference on June 2, 2022, and the William Blair Growth Stock Conference on June 9, 2022. Presentations will be available through live webcasts, which will also be archived on Matterport's investor relations website. Matterport is a leader in the spatial data industry, transforming buildings into digital twins for better lifecycle management.
On May 10, 2022, Matterport (MTTR) announced a strong Q1 2022, highlighted by a 70% year-over-year increase in total subscribers to 562,000. Subscription revenue rose 24% to $17.1 million, driving total revenue to $28.5 million, surpassing guidance by $1 million. Matterport reaffirms its full-year guidance, supported by a strong balance sheet with $600 million in cash and no debt. Despite a Non-GAAP loss per share of $0.10, this reflects a 3-cent improvement over expectations.
Trinity Capital reported robust first-quarter results for 2022, showcasing a total investment income of $31.8 million, a significant 83.8% increase year-over-year. Net investment income rose 115.2% to $15.6 million or $0.57 per share. The company realized gains of $52.6 million on equity sales and declared an increased dividend of $0.40 per share, along with a $0.15 supplemental cash dividend. However, the net asset value per share decreased to $15.15 due to unrealized losses surpassing realized gains. The investment portfolio's fair value reached $919.3 million.
Matterport, Inc. (Nasdaq: MTTR) announces its partnership with Treedis, which leverages the Matterport Digital Twin Platform to create immersive online experiences. Treedis reports a 20% conversion lift and 15% sales growth for its clients, including ŠKODA AUTO, which achieved a 96% customer engagement in its virtual showroom. Treedis has experienced a remarkable 450% revenue growth and attracts over 100 million monthly visitors to its spaces. The partnership supports various industries, enhancing business outcomes through innovative digital solutions.
Matterport (Nasdaq: MTTR) is expanding its presence in Japan, a major property market with over 324 million spaces to digitize. The company aims to enhance its customer service and open new sales channels to support the growing adoption of its digital twin platform. Notable clients like Mitsubishi Estate Residence and Takenaka Corporation are utilizing Matterport’s technology for real estate transactions and facility management. This strategic investment underscores Matterport's commitment to capturing market demand in the Asia-Pacific region.
Matterport, Inc. (Nasdaq: MTTR) announced that KLM Royal Dutch Airlines is utilizing its digital twin technology to enhance operational efficiency. KLM has built a library of 104 digital twins for various aircraft types, viewed nearly 1 million times by personnel. This technology has improved training efficiency, reducing cleaning times by 30% and allowing remote access for training. KLM aims to enhance customer experiences by enabling travelers to virtually explore aircraft cabins prior to purchase, showcasing the value of Matterport's solutions in the airline industry.
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