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) 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.
Matterport, Inc. (Nasdaq: MTTR) has expanded its relationship with Design Miami/ and the Miami Design District, marking the second year of partnership. Utilizing the new Pro3 3D camera, Matterport created digital twins for the Design Miami/ fair and the Annual Neighborhood Commission, enhancing global accessibility to design exhibits. This initiative showcases 50 exhibitions over 73,000 square feet, fostering online engagement and interactive purchasing options. The collaboration reflects a commitment to innovation and expands Matterport's involvement in the design community.
Matterport, Inc. (Nasdaq: MTTR) has announced its participation in upcoming investor conferences. The Credit Suisse 26th Annual Technology Conference is scheduled for November 29, 2022 in Scottsdale, AZ, while the Wells Fargo 6th Annual TMT Summit will be held on November 30, 2022 in Las Vegas, NV, with a presentation at 1:50 p.m. PT. Both events will be webcast live on Matterport's investor relations website. Matterport is focused on transforming physical spaces into digital data to enhance their value and accessibility.
Matterport reported record financial results for Q3 2022, achieving total revenue of $38.0 million, up 37% year-over-year. Subscription revenue reached $19.0 million (+21% YoY), while services revenue surged 204% to $10.0 million. Despite a GAAP loss per share of $0.20, the company exceeded guidance. Total subscribers rose 50% to 657,000, and Spaces Under Management grew 40% to 8.7 million. The balance sheet remains robust with $495 million in cash and investments.
Matterport, Inc. (Nasdaq: MTTR) is set to release its fiscal 2022 third quarter financial results on November 10, 2022, after market close. The company's management will conduct a conference call at 1:30 PM PT to discuss the results. Interested parties can access the financial results and the live webcast on Matterport's investor website. With a strong focus on the digital transformation of the built world, Matterport continues to leverage its spatial data platform, enhancing building lifecycle processes. Investors can expect an audio replay available for one year.
Matterport, Inc. (Nasdaq: MTTR) recently released survey findings indicating that 33% of US homebuyers purchased properties sight unseen, with 89% considering 3D virtual tours essential in their buying process. The survey conducted by OnePoll in June 2022 highlights the effectiveness of digital twins in boosting home sales, particularly amidst rising interest rates. The findings show 62% of buyers see virtual tools as crucial for future purchases, while 31% spent more time on listings featuring 3D tours. The demand for home office space is driving buyer relocations and preferences for virtual tours.
Matterport, Inc. (Nasdaq: MTTR) announced a groundbreaking collaboration with Emmy Award-winning creative director David Korins and hyperrealist artist Robin Eley to create an immersive 3D digital twin of Eley's limited-run exhibition in New York City. This innovative project allows global audiences to experience 18 significant artworks that are usually inaccessible. Utilizing the new Pro3 Camera, the digital twin attracted nearly 2.5 times more visitors than the physical gallery, showcasing the potential of Matterport’s technology to enhance art accessibility and engagement.
Matterport recently unveiled its new Pro3 Camera along with significant updates to its digital twin platform, enhancing 3D capture technology for various enterprises. The Pro3 camera is designed for high-accuracy digital twins, suitable for both outdoor and indoor applications. Demand for digital twins is increasing, with a reported 52% growth in subscribers. Additionally, businesses utilizing these tools have experienced notable productivity gains and cost reductions. The Pro3 is priced at $5,999, with availability starting in September 2022.
Matterport, a leader in spatial data technology, has announced a partnership with the North Carolina Regional MLS (NCRMLS) to integrate its Digital Twin Platform with the new showing management system, BrokerBay. This collaboration aims to facilitate virtual tours and open houses, enhancing the homebuying experience for Realtors and clients. With studies indicating that 34% of recent homebuyers relocated over 50 miles, the integration will support remote buyers significantly. NCRMLS will also provide training for Realtors to leverage Matterport’s tools effectively.
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