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.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Matterport's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Matterport's position in the market.
Matterport Inc. (Nasdaq: MTTR) announced its First Quarter 2024 Financial Results, highlighting a record Annualized Recurring Revenue of $96 million, up 21% year-over-year. Net loss improved by 33% year-over-year. Total subscribers reached 1.0 million, up 30% year-over-year. Square feet under management increased to 40.7 billion, up 35% from the prior year. The Company's subscription revenue grew by 21% to reach $24 million for the period, representing over 60% of total revenue. Matterport also entered into a definitive agreement to be acquired by CoStar Group, aiming to transform global real estate through technology and digitization.
BMO leverages Matterport's digital twin platform to streamline site visits across its physical footprint for rebranding and design management at over 500 locations nationwide. The use of digital twins has saved costs, time, and resources, allowing for efficient planning and updates to comply with brand standards.
Matterport, Inc. (Nasdaq: MTTR) has canceled its first quarter 2024 conference call following a definitive agreement to be acquired by CoStar Group. The leading spatial data company driving the digital transformation of the built world will no longer provide quarterly financial guidance due to the pending transaction. Matterport will release its first quarter earnings press release on May 6.
