Matterport Inc Stock Price, News & Analysis

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.

Matterport, Inc. (Nasdaq: MTTR) appointed Tom Klein as Chief Marketing Officer as part of its strategy to enhance global brand and drive growth amidst rapid expansion. Klein, with over 20 years of marketing experience, previously led Mailchimp to significant revenue growth and a successful acquisition. His role will focus on aligning marketing initiatives to capitalize on untapped market potential, emphasizing customer-centric strategies to elevate Matterport's innovative platform for the digitization of physical spaces.