Matterport Inc Stock Price, News & Analysis

Shapiro Haber & Urmy LLP has announced that Legacy Matterport shareholders may have valuable claims against Matterport (NASDAQ: MTTR). This stems from the July 2021 business combination transaction where Legacy Matterport became public via a SPAC merger. Shareholders who received new Matterport shares during this transaction might be entitled to significant money damages, regardless of whether they still own the shares or have sold them.

The law firm is offering to provide additional information about legal rights in this matter. Interested parties can contact Ian McLoughlin at imcloughlin@shulaw.com or (617) 439-3939. Shapiro Haber & Urmy LLP specializes in representing shareholders and consumers in class actions against corporate defendants, as well as in derivative actions.

Matterport (Nasdaq: MTTR) reported Q2 2024 financial results, showing significant growth and operational improvements. Annualized Recurring Revenue (ARR) reached a record $96.6 million, a 16% increase year-over-year.

Subscription revenue grew 16% to $24.2 million, comprising over 57% of total revenue. Total revenue was $42.2 million.

Total subscribers grew by 28% year-over-year to 1.06 million. Square feet under management reached 44 billion, up 33%.

Net loss per share was $0.45, while Non-GAAP net loss was $0.02 per share, a 71% improvement year-over-year. Cash used in operating activities improved by 64% year-over-year to $11.8 million.

Recent highlights include a pending acquisition by CoStar Group valued at approximately $2.1 billion, the launch of avoided emissions reporting, and partnerships with Crunch Fitness, BMO, and FBS.

Matterport (MTTR) has released its third ESG Report, setting ambitious targets for reducing carbon emissions and fostering gender equality. The company aims to reach net-zero emissions by 2050, transition to recyclable/renewable packaging for Pro3 cameras by 2025, reduce Scope 1 and 2 GHG emissions by 20% by 2030, and achieve gender parity among full-time employees by 2030.

The report highlights Matterport's success in helping customers reduce their carbon footprint through digital twins. Since 2022, each digital twin creator avoids an estimated 0.55 tCO2e per year, while each digital twin prevents about 0.15 tCO2e emissions. Matterport has also partnered with a carbon accounting firm to develop avoided emissions reporting for enterprise customers, providing insights into carbon savings enabled by their platform.

With over 1 million subscribers and 12 million digitized spaces across 178 countries, Matterport continues to drive sustainable practices in various industries, including real estate, construction, retail, and manufacturing.

Matterport (Nasdaq: MTTR), the leading spatial data company, has announced it will release its fiscal 2024 second quarter financial results on Tuesday, August 6, 2024, after market close. The company, which is driving the digital transformation of the built world, will not be holding a conference call or live webcast to discuss these results due to its pending acquisition by CoStar Group, Inc., which was announced on April 22, 2024. Investors and interested parties can access the financial results press release from the Matterport website at investors.matterport.com.

Matterport has achieved AWS IoT Competency status, showcasing its proficiency in IoT technologies. This designation highlights Matterport's ability to help enterprises implement and manage IoT-enabled digital twin projects using AWS cloud services. Matterport's technology excels in data acquisition, management, analysis, and device management, facilitating comprehensive digital twin solutions for businesses. The collaboration with AWS IoT TwinMaker allows for real-time monitoring and predictive maintenance, enhancing operational efficiency. Matterport's achievement underscores its expertise in leveraging AWS to drive cloud transformation and IoT innovation.

Matterport (Nasdaq: MTTR) has partnered with FBS to integrate their digital twin technology into the Flexmls platform, enhancing the property listing process. This collaboration allows Flexmls users to upload Matterport digital twins, which automatically populate property data and media assets, including measurements, dimensions, and media files. This innovation streamlines the listing process, minimizes errors, and saves time by eliminating manual data entry. The partnership aims to provide accurate dimensional data to improve the buying experience for home seekers and enhance efficiency for real estate professionals. This new functionality benefits over 320,000 real estate professionals who use Flexmls, supporting informed decision-making and accelerating the home buying process.

Matterport announced the launch of avoided emissions reporting for select enterprise customers to measure carbon savings via its digital twin platform. Developed with independent carbon accounting experts, the reports help companies understand emissions avoided by remote collaboration instead of on-site visits. These reports support businesses' sustainability goals by showcasing reductions in Scope 3 emissions. They also highlight cost savings and productivity gains. Currently available to select customers, the reports will be broadly released later this year, with enhancements based on feedback.

Land & Buildings Investment Management, holding over 3% of SmartRent (NYSE: SMRT) shares, sent a public letter to SmartRent's Board highlighting the company's consistent failure to execute its growth strategy and achieve targets since its 2021 listing. Shares have dropped over 80% from their peak. Despite SmartRent's strong market position and valuable assets in the multifamily PropTech sector, Land & Buildings believes the company must explore strategic alternatives, including a potential sale, to maximize shareholder value, potentially earning a 150%+ premium. Operational and governance issues, alongside missed targets and poor communication, have led to a crisis of confidence among shareholders.

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.