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) 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.
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.
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