Matterport, Inc. - MTTR STOCK NEWS

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.

Matterport (Nasdaq: MTTR) has partnered with TD SYNNEX (NYSE: SNX) to enhance its distribution in the North American market, aiming to capitalize on opportunities within the nearly 1 billion physical spaces in the U.S. This collaboration will leverage TD SYNNEX's extensive network of 150,000 resellers to promote Matterport's leading spatial data solutions across various industries, including real estate and construction. The partnership is set to drive the adoption of digital twins technology, providing significant efficiency and cost savings for businesses.

Matterport, Inc. (Nasdaq: MTTR) has announced its participation in several investor conferences. The Deutsche Bank 2022 Technology Conference is set for August 31, 2022, at 7:30 a.m. PT in Las Vegas. Following this, the Wolfe Research TMT Conference will take place on September 9, 2022, in San Francisco. Finally, the Piper Sandler Growth Frontiers Conference is scheduled for September 13, 2022, at 4:30 p.m. CT in Nashville. Live webcasts of the presentations will be available on Matterport's investor relations website.