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.
Land & Buildings Investment Management, holding over 3% of SmartRent (NYSE: SMRT) shares, sent a public letter to SmartRent's Board highlighting the company's consistent failure to execute its growth strategy and achieve targets since its 2021 listing. Shares have dropped over 80% from their peak. Despite SmartRent's strong market position and valuable assets in the multifamily PropTech sector, Land & Buildings believes the company must explore strategic alternatives, including a potential sale, to maximize shareholder value, potentially earning a 150%+ premium. Operational and governance issues, alongside missed targets and poor communication, have led to a crisis of confidence among shareholders.
Matterport Inc. (Nasdaq: MTTR) announced its First Quarter 2024 Financial Results, highlighting a record Annualized Recurring Revenue of $96 million, up 21% year-over-year. Net loss improved by 33% year-over-year. Total subscribers reached 1.0 million, up 30% year-over-year. Square feet under management increased to 40.7 billion, up 35% from the prior year. The Company's subscription revenue grew by 21% to reach $24 million for the period, representing over 60% of total revenue. Matterport also entered into a definitive agreement to be acquired by CoStar Group, aiming to transform global real estate through technology and digitization.
BMO leverages Matterport's digital twin platform to streamline site visits across its physical footprint for rebranding and design management at over 500 locations nationwide. The use of digital twins has saved costs, time, and resources, allowing for efficient planning and updates to comply with brand standards.
Matterport, Inc. (Nasdaq: MTTR) has canceled its first quarter 2024 conference call following a definitive agreement to be acquired by CoStar Group. The leading spatial data company driving the digital transformation of the built world will no longer provide quarterly financial guidance due to the pending transaction. Matterport will release its first quarter earnings press release on May 6.
FAQ
What is the current stock price of Matterport (MTTR)?
What is the market cap of Matterport (MTTR)?
What does Matterport, Inc. do?
How does Matterport generate revenue?
What is Matterport's latest achievement?
What industries use Matterport's technology?
What are digital twins?
How has Matterport made 3D capture technology accessible?
What recent partnerships has Matterport announced?
What are AI-powered features in Matterport's platform?
Where can I find more information about Matterport?
What is the significance of Matterport's digital transformation?
