Matterport Announces 4Q22 and Full Year 2022 Results Today (Feb., 22, 2023)18321
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 WGAN ForumFounder & WGAN-TV Podcast Host Atlanta, Georgia |
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| Matterport Media Release --- PDF Version ---  Source: Matterport February 22, 2023 | Fourth Quarter 2022 Financial Results  Source: Matterport February 22, 2023 | Fourth Quarter 2022 Financial Results  Source: Matterport February 22, 2023 | Fourth Quarter 2022 Financial Results  Source: Matterport February 22, 2023 | Fourth Quarter 2022 Financial Results Video: Matterport Announces Record Fourth Quarter And Full Year 2022 Financial Results | #mttr | Video courtesy of WGAN-TV YouTube Channel WGAN Forum Podcast | Episode Number: 170 Matterport Announces Record Fourth Quarter And Full Year 2022 Financial Results 1. Q4 total revenue rose to a record $41.1 million, above Company guidance 2. Q4 subscription revenue rose to a record $19.3 million, above Company guidance 3. Q4 product revenue rose to a record $13.6 million, up 51% sequentially from the prior quarter 4. Q4 GAAP loss per share of $0.21 and Non-GAAP loss per share of $0.09, at the high end of the Company’s guidance range 5. 2022 annual revenue rose to a record $136.1 million, up 22% from 2021 6. Balance sheet remains strong with $477 million in cash and investments and no debt SUNNYVALE, California, Wednesday, February. 22, 2023 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR) (“Matterport” or the “Company”), the leading spatial data company driving the digital transformation of the built world, today announced record financial results for the quarter and year ended December 31, 2022. “We delivered record revenue again in the fourth quarter, as our subscriber base continued to grow and our spaces under management exceeded 9 million,” said RJ Pittman, Chairman and Chief Executive Officer of Matterport. “Enterprise demand remains robust as customers across many verticals, such as manufacturing, AEC, and travel and hospitality, are increasingly turning to Matterport’s digital twins for remote facilities management, saving companies measurable travel time and money while boosting productivity. As our digital twin platform ecosystem continues to grow, customers investing in our powerful add-ons will gain more insights and value from their facilities, storefronts, real estate, and office spaces.“ “Our record total revenue for the fourth quarter and year, combined with the actions we have taken to control costs, are yielding significant benefits to our bottom line,” said JD Fay, Chief Financial Officer of Matterport. “Subscription revenue reached $19.3 million, a new record, and we demonstrated broad-based adoption of our solution with subscribers exceeding the 700,000 milestone. At the same time, our disciplined approach to managing operating expenses enabled us to deliver a non-GAAP loss per share of $0.09 in the fourth quarter, at the high-end of our guidance range. I believe the momentum we saw in the second half of 2022 is carrying through to 2023 and sets the stage for another record-breaking year.” Fourth Quarter Financial Highlights 1. Total subscribers increased to 701,000, up 39% year-over-year 2. Spaces Under Management (SUM) increased to 9.2 million, up 37% year-over-year 3. Total revenue was $41.1 million, up 52% year-over-year 4. Subscription revenue was $19.3 million, up 17% year-over-year 5. Product revenue was $13.6 million, up 107% year-over-year 6. Services revenue was $8.3 million, up 122% year-over-year 7. Annualized Recurring Revenue (ARR) exiting the fourth quarter was $77.2 million 8. Non-GAAP net loss was $0.09 per share Recent Business Highlights 1. Announced that Airbnb is using Matterport’s Property Intelligence offering to analyze and verify a collection of Airbnb homes to ensure they met accessibility standards for guests with mobility needs, as part of its “Adapted” short-term rental category. Property Intelligence, currently being piloted by select customers, opens a universe of new opportunities for customers to leverage analytics to grow their businesses with reliable and highly accurate insights 2. Unveiled private beta integration with AWS IoT TwinMaker to enable enterprise customers to seamlessly connect IoT data into visually immersive and dimensionally accurate Matterport digital twins 3. Announced that John Deere selected Matterport’s Digital Twin Platform and 3D capture technology to build a virtual Operations Center for remote management of over 60 facilities across North America, Europe and India 4. Announced collaborations with two leading art and design organizations, Design Miami/ and the Miami Design District. Using the new Pro3 3D camera, Matterport captured and produced immersive digital twins that allow visitors to partake virtually in this year’s Design Miami/ fair and the Miami Design District’s Annual Neighborhood Commission First Quarter and Full Year 2023 Outlook The Company is providing the following financial guidance for the first quarter and full year 2023. The Company believes that 2023 can be another strong growth year while continuing to drive toward profitability. This guidance will be discussed in greater detail on today’s conference call.  Matterport is not able to provide a reconciliation of non-GAAP loss per share to GAAP loss per share because Matterport does not provide specific guidance for the various exclusions adjusted from net loss. These items have not yet occurred, are out of Matterport’s control and/or cannot be reasonably predicted. As a result, reconciliation of the non-GAAP guidance measures to GAAP is not available without unreasonable effort, and Matterport is unable to address the probable significance of the unavailable information. Conference Call Information Matterport will host a conference call for analysts and investors to discuss its financial results for the fourth quarter and full year 2022 today, February 22, 2023, at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). A recorded webcast of the event will also be available following the call for one year on Matterport’s Investor Relations website at investors.matterport.com. The dial-in number will be (412) 902-4209, conference ID: 10174925. The financial results press release and a live webcast of the conference call will be accessible from the Matterport website at investors.matterport.com. An audio webcast replay of the conference call will also be available for one year at investors.matterport.com. About Matterport Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at matterport.com and browse a gallery of digital twins. ©2023 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.      Source: Matterport February 22, 2023 | Fourth Quarter 2022 Financial Results  Source: Matterport February 22, 2023 | Fourth Quarter 2022 Financial Results --- Source: Matterport |
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 WGANStandard Member New York City |
3dVuz private msg quote post Address this user | |
| and I still cant use the Pro3 camera... sigh |
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| @3dVuz This Matterport earnings call starts in 2 minutes. You can listen in .... Matterport will host a conference call for analysts and investors to discuss its financial results for the fourth quarter and full year 2022 today, February 22, 2023, at 1:30 p.m. Pacific time (4:30 p.m. Eastern time). A recorded webcast of the event will also be available following the call for one year on Matterport’s Investor Relations website at investors.matterport.com. The dial-in number will be (412) 902-4209, conference ID: 10174925. Dan |
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selder76 private msg quote post Address this user | |
| Not shown in this report...how they continue to ignore their providers who pay them monthly (and have since the beginning) and further make efforts to solicit their customers. For as much as I love Matterport technology, a lot of this goes bye bye once someone develops a solid competing system and it is only a matter of time. I'd pull my subscription fees (which are ridiculous for simple hosting) in a heartbeat if a better alternative appeared. How about just once we hear some news from Matterport about how they are now marketing on behalf of the registered "Service Providers" to solicit business for those whose investments they built their company on? | ||
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Gerhard private msg quote post Address this user | |
| @selder76 there is a competing system coming to market in the next 2 - 3 months, more to follow. It will end Matterport. Mattreport stop calling it a DIGITAL TWIN, it is not, it's 360 photos, and that is not a Digital Twin, it is false advertising. |
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Philly private msg quote post Address this user | |
| I occasionally hear about Matterport trying to "solicit customers" using your scans metadata. What are the examples of this? What do their attempts look like? | ||
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selder76 private msg quote post Address this user | |
| Care to elaborate on the "competing system"? | ||
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WGAN Forum Founder & WGAN-TV Podcast Host Atlanta, Georgia |
DanSmigrod private msg quote post Address this user | |
| Hi All, Here is the audio recording of the Matterport, Inc. (MTTR) Q4 2022 Earnings Call on Wednesday, 22 February 2023. Edited Transcript (provided by Matterport) Dan |
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