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 (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.
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.
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