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) has achieved significant recognition by winning two Comparably awards: Best Company Outlook and Best Places to Work in the San Francisco Bay Area. These awards reflect high employee satisfaction and confidence in the company’s future, based on anonymous ratings from over 15 million employees across 70,000 organizations. The company’s transition to a fully remote work model has enhanced collaboration and work-life balance, boosting its reputation as a desirable workplace. Matterport's focus on maintaining a strong culture during rapid growth is highlighted as essential for its ongoing success.
Matterport, Inc. (Nasdaq: MTTR) has partnered with Damen Shipyards Group to utilize digital twins for enhancing collaboration between designers and customers. This technology improves the approval workflow and construction precision while boosting customer satisfaction. Damen employs Matterport's Pro2 3D cameras to create detailed digital replicas of vessels, allowing remote inspection and modifications. The integration facilitates better planning and a 3D archive that aids in operational efficiency and training as employees transition. This advancement underscores Matterport’s role in driving digital transformation in various industries.
Matterport, Inc. (Nasdaq: MTTR) reports impressive growth for Eberl, a top U.S. insurance adjusting company, which has seen a 200% increase in new customer acquisition and a 15% reduction in claims cycle time after adopting Matterport digital twins. The integration of the Matterport Capture App with Matterport Axis has enabled adjusters to streamline their workflow, leading to faster assessments and improved accuracy. Matterport aims to transform the insurance industry by providing innovative solutions that enhance operational efficiency.
Matterport (Nasdaq: MTTR) collaborates with ID Plans to enhance the commercial real estate sector through digital twins. This technology has enabled property managers to achieve cost savings of up to 65% and significantly shorten leasing times. The ID 360 product integrates Matterport's digital twins to provide immersive property experiences, allowing clients to streamline leasing and property management processes. This partnership demonstrates a growing trend in using digital solutions within the commercial real estate market, particularly in retail and office leasing.
Matterport, Inc. (Nasdaq: MTTR) has announced its strategic expansion into the Brazilian market by partnering with two key distributors, Guandalini Posicionamento and PARS. This alliance aims to offer Matterport's spatial data platform to enterprise customers in the architecture, engineering, and construction sectors. With over 540 million physical spaces in Brazil ripe for digitization, this partnership intends to enhance access to digital twins and boost operational efficiency across industries. The initiative marks a significant milestone for Matterport in capitalizing on a growing demand in Brazil.
Matterport (Nasdaq: MTTR) has announced an integration between its CAPTUR3D platform and Sketchfab, enhancing digital twin capabilities by allowing users to import over 750,000 3D models into their Matterport environments. This collaboration aims to transform digital twins into interactive experiences across various sectors, including real estate and retail. The integration supports both static and animated 3D objects, thereby increasing user engagement and customization possibilities. The initiative reflects Matterport's commitment to leveraging partnerships to advance its digital transformation strategy.
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.
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