Matterport Inc Stock Price, News & Analysis

Matterport announced a new integration with Autodesk Construction Cloud to enhance project management workflows for construction teams. This integration streamlines the Request for Information (RFI) process, transitioning from traditional methods to immersive digital twin technology. With this new capability, stakeholders can visualize issues in the 3D representation of job sites, improving communication and reducing project delays. Construction projects often face inefficiencies due to RFI management; however, Matterport's solution aims to address these by enabling real-time tracking of requests within the digital environment. This collaboration marks an evolution in their partnership.

Matterport, Inc. (Nasdaq: MTTR), a leader in spatial data technology, announced its participation in several upcoming investor conferences.

Key events include:

• Wolfe Research "March Madness" Software Conference on March 1, 2023, in New York City.
• Morgan Stanley Technology, Media & Telecom Conference on March 7, 2023, in San Francisco at 3:20 p.m. PT.
• Loop Capital Markets Conference on March 13, 2023, virtually.
• Berenberg Thematic Software Conference on March 14, 2023, in New York City.

These presentations will be webcast live and archived on Matterport's investor relations website.

Matterport reported record Q4 2022 total revenue of $41.1 million, surpassing guidance, driven by subscription revenue of $19.3 million and product revenue of $13.6 million. Annual revenue reached $136.1 million, up 22% year-over-year. The company posted a Q4 GAAP loss per share of $0.21 and a non-GAAP loss per share of $0.09, within guidance. With a strong balance sheet showing $477 million in cash and no debt, Matterport's subscriber base hit 701,000, up 39% year-over-year. The outlook for Q1 2023 estimates revenue between $34 million and $36 million, indicating 19%-26% growth.

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.