Matterport Inc Stock Price, News & Analysis

Matterport, Inc. (Nasdaq: MTTR) will release its fiscal 2022 second quarter financial results on August 10, 2022, after market close. A conference call will be held at 1:30 p.m. PT (4:30 p.m. ET) to discuss these results, accessible via dial-in at (412) 902-4209, conference ID: 10168897. Additionally, investors can find a financial results press release and live webcast on the company's website. Matterport specializes in digital transformation of physical spaces, converting buildings into immersive digital twins. Financial results are anticipated to reflect the company's performance in this innovative sector.

Matterport has partnered with Burns & McDonnell to utilize its Digital Twin Platform, targeting a 30% reduction in project schedules and 80% less travel for clients. This collaboration enables businesses in the energy, utilities, and manufacturing sectors to enhance documentation and operational safety through 3D digital twins. Clients like Central Lincoln People’s Utility District report significant savings and efficiency gains since adopting this technology. Matterport aims to streamline collaboration and project management across the architecture, engineering, and construction industry.

Matterport, Inc. (Nasdaq: MTTR) announced the appointment of Susan Repo to its board of directors effective July 11, 2022. Repo, currently CFO at ICEYE, brings extensive experience from leadership roles at Tesla, MariaDB, Juniper Networks, and Agilent Technologies. She will also chair the audit committee, enhancing Matterport's strategic direction as the company expands into new sectors leveraging its Digital Twin technology. The board will now consist of five directors, four being independent.

Matterport (Nasdaq: MTTR) announced its acquisition of VHT Studios, enhancing its real estate digital marketing services. This strategic move aims to merge Matterport's digital twin technology with VHT’s visual media services, including photography and drone capture. The acquisition targets increased adoption of digital twin technology and expansion into commercial real estate, travel, and retail markets. Matterport currently holds around $600 million in cash, which supports this integration and future growth opportunities.

Matterport, Inc. (Nasdaq: MTTR) will be included in the Russell 2000® Index as part of the annual reconstitution effective June 27, 2022. This membership signifies a validation of Matterport's position in the market, following its public listing and successful capital raise of $745 million. The company specializes in turning physical spaces into digital twins for various sectors, supported by over 100,000 businesses worldwide. Inclusion in the Russell 2000 enhances the visibility of Matterport's services in a large asset class valued at $327 trillion.

Matterport (Nasdaq: MTTR) will participate in the Wells Fargo 4th Annual Bricks to Clicks Digital Conference on June 28, 2022, at 12:00 p.m. ET. The presentation will be available via a live webcast and archived on Matterport's investor relations website.

Matterport is recognized as a leader in the digital transformation of the built world, enhancing the value and accessibility of buildings through its spatial data platform, which has created digital twins of millions of spaces across 177 countries.

Matterport (Nasdaq: MTTR) has reported that GUESS? Inc. has achieved a 200% increase in productivity and a 30% decrease in travel costs through the adoption of Matterport's digital twins and Bigtincan's sales enablement solution. Since using digital twins, GUESS has also realized a 95% reduction in departmental printing costs. This technology supports remote training, enhances brand consistency, and facilitates a seamless virtual experience for buyers, doubling showroom appointments and improving global collaboration.

Matterport (Nasdaq: MTTR) has formed a partnership with CGS to integrate digital twins into augmented and virtual reality training solutions for frontline workers. This collaboration aims to enhance training efficiency, reduce costs, and support remote workforce training using CGS's TeamworkAR platform alongside Matterport's photorealistic digital twins. With over 100,000 businesses utilizing Matterport's platform, the solution is expected to significantly accelerate training processes and improve operational effectiveness during workforce shortages.

Matterport, Inc. (Nasdaq: MTTR) announced a partnership with SBP, a disaster relief non-profit, to enhance recovery efforts for marginalized homeowners. Through its Exploration to Equity program, Matterport donated products and services to help SBP create digital twins of damaged properties, aimed at accelerating FEMA assistance for families affected by tornadoes in December 2021. SBP intends to initially support at least 100 low-income tornado survivors with this technology, streamlining damage assessments and appeals for FEMA support.