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 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.
Matterport, Inc. (Nasdaq: MTTR) announced the appointment of Natalie Lamb as Managing Director of EMEA, effective immediately. With over 20 years of software experience, including a decade at IBM, she will oversee growth in enterprise and SMB segments and expand strategic partnerships in the region. Chief Revenue Officer Jay Remley highlighted her ability to build trusted relationships crucial for accelerating growth in the digital twin market. Lamb expressed enthusiasm for leveraging her experience to enhance Matterport's presence as companies embrace 3D digital solutions.
Matterport, Inc. (Nasdaq: MTTR) announced the appointment of Matthew Zinn as Chief Legal Officer and Mike Knapp as Vice President and Head of Investor Relations. Zinn brings extensive experience from 8x8 and TiVo, focusing on legal, regulatory, and compliance efforts. Knapp has over 20 years in investor relations, previously serving at Knowles Corporation. The leadership changes aim to enhance the company's global growth strategy and investor communications.
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?
