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) partners with AgentRelay and Boost3D to revolutionize real estate through interactive virtual property showings using digital twins. AgentRelay's integration of video conferencing with Matterport allows agents to guide clients through 3D spaces in real-time, enhancing engagement and lead generation. Boost3D's OpenHouse Live enables hosted viewings for up to fifty participants, merging physical and virtual experiences. Overall, these innovations aim to streamline the real estate process and improve customer interactions, showcasing Matterport's leadership in spatial data technology.
On February 17, 2022, Matterport, Inc. (Nasdaq: MTTR) announced its schedule for upcoming investor conferences, showcasing its leadership in the spatial data industry. The company will present at:
- Berenberg Thematic Software Conference on March 1, 2022
- Wedbush Real Estate Technology Conference on March 2, 2022
- Morgan Stanley Technology, Media & Telecom Conference on March 7, 2022, at 2:25 p.m. PT in San Francisco
- Raymond James 2022 Institutional Investors Conference on March 9, 2022, at 11:35 a.m. ET in Orlando
These presentations will be live-streamed and available on Matterport's investor relations website.
Matterport, Inc. (MTTR) reported strong growth in its Q4 2021 results, with total revenue rising 15% year-over-year to $27.1 million and subscription revenue increasing 32% to $16.5 million. The company doubled its subscribers to 503,000, achieving an annualized recurring revenue (ARR) of $66 million. Despite a GAAP loss of $0.66 per share, the outlook for 2022 appears positive with projected total revenue between $125 and $135 million and subscription revenue of $80 to $82 million, representing a growth rate of 31% to 34%. New products and partnerships are aimed at expanding market reach.
Matterport (Nasdaq: MTTR) has partnered with Midland Holdings, becoming the first real estate brokerage in China and Hong Kong to utilize Matterport's digital twins technology. This innovation enables customers to experience 3D virtual tours of properties, revolutionizing how homes are viewed and purchased. Midland Holdings aims to enhance customer experience while offering operational efficiencies and cost savings. The company previously launched a VR property viewing service in 2016 and now expands this with virtual furnishing options, integrating e-commerce for a seamless home-buying experience.
Matterport (Nasdaq: MTTR) has appointed Florence Shaffer and Deepti Illa to strengthen leadership roles in strategy and marketing. Shaffer, with nearly 20 years of experience, joins as Vice President of Strategy & Operations, while Illa, formerly of RingCentral and Google, will be Vice President of Global Integrated Marketing. CEO RJ Pittman emphasizes the need for top talent to drive the company's mission of digital transformation in the built world, targeting a $230 trillion market.
Matterport, Inc. (Nasdaq: MTTR) has launched Matterport Axis, a motorized mount for smartphones, allowing users to easily create 3D digital twins of physical spaces. Available for pre-launch pricing of $59, it aims to enhance the digitization process across various industries such as real estate, retail, and construction. With Axis, organizations can capture high-fidelity scans quickly, improving operational efficiency and productivity. General availability begins April 1 at a price of $79, while the waitlist offers access to discounted rates until March 31.
Matterport, Inc. (Nasdaq: MTTR) will release its fiscal 2021 financial results on February 16, 2022, after market close. The management will conduct a conference call at 2:00 PM Pacific Time to discuss the fourth quarter results. Investors can access the financial results and a live webcast on Matterport's investor website. The company is known for its spatial data platform that enhances the value and accessibility of buildings worldwide, transforming millions of properties into digital twins for various applications.
Matterport, Inc. (Nasdaq: MTTR) will host its Matterport Space Jam virtual event on February 24 at 8:30 am PT, showcasing its platform partners' software solutions for the Architecture, Engineering, and Construction (AEC) sector. Attendees will witness demonstrations from four partners: e-Building, RemSense, SIMLAB Stages, and Nspect. This event aims to enhance project efficiency, boost productivity, and reduce costs in AEC workflows through Matterport digital twins.
Matterport, Inc. (Nasdaq: MTTR) announced a partnership with Orangetheory to create digital twins of over 1,250 U.S. fitness studios. This initiative aims to ensure brand consistency and significantly reduce travel and labor costs for operational teams. Through Matterport Capture Services, Orangetheory will gain accurate, 3D replicas of each studio, enhancing operational efficiency and informed decision-making. This strategic move showcases Matterport's role in transforming retail operations by simplifying layout verification and measurements, ultimately boosting productivity.
Trinity Capital Inc. announced it will receive approximately $59.8 million in net proceeds from selling its equity investments in Lucid Group (LCID) and Matterport (MTTR). In January 2022, it sold 1,867,973 shares of Lucid and 571,941 shares of Matterport, acquiring these positions for about $9.0 million. The estimated net realized gain for the quarter ended March 31, 2022, is projected at $50.8 million, equating to roughly $1.86 per share. The board is reviewing the 2022 dividend distribution plan based on these outcomes.
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