Matterport, Inc. - MTTR STOCK NEWS

Matterport, Inc. (Nasdaq: MTTR) has announced a new integration with AWS IoT TwinMaker to enhance the digital twin technology for enterprise customers. This integration allows seamless connection of IoT data into Matterport's immersive 3D digital twins, facilitating remote optimization of building operations, improving production output, and enhancing safety standards.

With this collaboration, companies like INVISTA are already leveraging the technology for predictive maintenance and operational efficiencies. The integration simplifies the creation of digital representations, increases equipment uptime, and supports remote training, thereby contributing to cost reductions and sustainability goals. The new capabilities reflect Matterport's commitment to driving digital transformation across various industries.

Matterport, Inc. (Nasdaq: MTTR) has promoted Vinatha Kutagula to Chief Customer Operations Officer and Lou Marzano to Chief Hardware Officer as of April 10, 2023. These promotions reflect their significant contributions to the company's growth in a challenging business landscape. Kutagula, with a strong background in B2B and B2C operations, has enhanced customer success and support since joining in 2021, achieving improvements in Net Promoter Score and customer satisfaction. Marzano has been instrumental in hardware R&D since 2018, successfully navigating supply chain challenges during COVID-19 and leading development of the Pro3 3D Camera. CEO RJ Pittman emphasized the company's focus on employee growth and professional development.

Matterport announced a new integration with Autodesk Construction Cloud to enhance project management workflows for construction teams. This integration streamlines the Request for Information (RFI) process, transitioning from traditional methods to immersive digital twin technology. With this new capability, stakeholders can visualize issues in the 3D representation of job sites, improving communication and reducing project delays. Construction projects often face inefficiencies due to RFI management; however, Matterport's solution aims to address these by enabling real-time tracking of requests within the digital environment. This collaboration marks an evolution in their partnership.

Matterport, Inc. (Nasdaq: MTTR), a leader in spatial data technology, announced its participation in several upcoming investor conferences.

Key events include:

• Wolfe Research "March Madness" Software Conference on March 1, 2023, in New York City.
• Morgan Stanley Technology, Media & Telecom Conference on March 7, 2023, in San Francisco at 3:20 p.m. PT.
• Loop Capital Markets Conference on March 13, 2023, virtually.
• Berenberg Thematic Software Conference on March 14, 2023, in New York City.

These presentations will be webcast live and archived on Matterport's investor relations website.

Matterport reported record Q4 2022 total revenue of $41.1 million, surpassing guidance, driven by subscription revenue of $19.3 million and product revenue of $13.6 million. Annual revenue reached $136.1 million, up 22% year-over-year. The company posted a Q4 GAAP loss per share of $0.21 and a non-GAAP loss per share of $0.09, within guidance. With a strong balance sheet showing $477 million in cash and no debt, Matterport's subscriber base hit 701,000, up 39% year-over-year. The outlook for Q1 2023 estimates revenue between $34 million and $36 million, indicating 19%-26% growth.

Matterport (Nasdaq: MTTR) has launched Digital Pro, a new affordable marketing solution for real estate agents in the United States. This offering combines 3D digital twin technology with various marketing assets, including HDR photos, 3D tours, and floor plans, all delivered within 1-2 business days for a low, flat rate. According to recent studies, 67% of home buyers find floor plans useful, while 89% value 3D tours. By simplifying the marketing process, Digital Pro aims to help agents win listings and sell homes faster, making advanced technology accessible to all property types.

Matterport, Inc. (Nasdaq: MTTR) has announced the release date for its fourth quarter and full year 2022 financial results, set for February 22, 2023, after market close. A conference call will follow at 1:30 p.m. PT (4:30 p.m. ET) to discuss these results, with dial-in access available. The financial results press release and a live webcast will be accessible on the Matterport investor website. Matterport is known for its innovative spatial data platform, which transforms buildings into digital twins, enhancing their value through improved operations, marketing, and documentation across more than 177 countries.

Matterport, Inc. (Nasdaq: MTTR) announced a partnership with John Deere to utilize its digital twin platform for enhancing operations management across more than 60 facilities globally. The collaboration aims to create virtual replicas of manufacturing sites, enabling remote asset tracking and real-time collaboration. Using Pro2 and Pro3 cameras, John Deere will capture high-resolution digital twins to optimize facility operations, reduce site visits, and monitor vehicles. This strategic move is expected to improve overall productivity and cost-efficiency.