Matterport Announces Fourth Quarter 2024 Financial Results20745
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 Matterport News Matterport Announces Fourth Quarter 2024 Financial Results, with Over 50 Billion in Square Feet Under Management, up 33%, and Total Subscription Revenue up 14%, Year-over-Year ✓ Record full year subscription revenue of $99.6 million, up 14% year-over-year ✓ Q4 annualized recurring revenue (ARR) grows to $104.2 million ✓ Record full year total revenue of $169.7 million ✓ Total subscribers grew to 1.2 million, up 23% year-over-year SUNNYVALE, California, Wednesday, February 26, 2025 (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 financial results for the quarter and year ended December 31, 2024. “I’m pleased to share our fourth quarter and full year 2024 results, highlighting our continued success driving efficient growth while doubling down on innovation. Total square feet digitized and managed reached a significant company milestone of 50.7 billion, up 33% year-over-year, with annual recurring revenue continuing to grow to a record $104.2 million,” said RJ Pittman, Chairman and CEO of Matterport. “Matterport’s 2025 Winter Release redefines what’s possible for digital twins and real estate marketing, introducing advanced automation and AI-driven capabilities that streamline property workflows and elevate listings. With the launch of Matterport Marketing Cloud, agents now have an all-in-one platform that simplifies every step of the property marketing process. Customers are raving about our one-click defurnish tool, now available to all users, making listings cleaner and more market-ready in an instant. New features like tag management and Model Merge are unlocking new efficiencies for customers tackling large or complex projects,” Pittman added. “In 2024, we achieved a record $99.6 million in total subscription revenue, representing a 14% increase from the prior year,” said JD Fay, Chief Financial Officer of Matterport. “In the fourth quarter, we reported total revenue reaching a new high of $43.8 million and non-GAAP net loss per share saw a dramatic 50% improvement from the prior year, resulting in a net loss per share of only $0.02. These accomplishments highlight our steadfast dedication to achieving strong revenue growth and profitability, which we believe positions Matterport for continued success in the future.” Fourth Quarter and Full Year 2024 Financial Highlights ✓ Q4 Annualized Recurring Revenue (ARR) was $104.2 million ✓ Q4 total revenue of $43.8 million ✓ Q4 net loss of $0.12 per share, and Q4 Non-GAAP net loss of $0.02 per share, a 50% improvement year-over-year ✓ FY2024 total revenue of $169.7 million, up 8% from prior year ✓ FY2024 net loss of $0.80 per share, and annual Non-GAAP net loss of $0.06 per share, a 73% improvement year-over-year ✓ FY2024 square feet under management reached 50.7 billion, up 33% year-over-year ✓ FY2024 spaces under management reached 14.1 million, up 21% year-over-year ✓ FY2024 total subscribers reached 1.2 million, up 23% year-over-year Recent Business Highlights ✓ Just launched the 2025 Winter Release: Productivity Multiplied, a suite of new capabilities designed to boost productivity and streamline workflows for real estate agents, designers, property managers, and contractors. Key developments include: -- Unveiled Matterport Marketing Cloud, powered by Property Intelligence, Matterport’s proprietary AI, delivering a seamless, all-in-one platform that simplifies property marketing from start to finish. Marketing Cloud integrates media creation, editing, distribution, and analytics into a single, intuitive experience—fully optimized for MLS listings. -- Model Merge – Multiple users can now scan a property simultaneously and combine their work into a single digital twin, significantly accelerating project completion. -- Field tags – Teams can now create real-time annotations while capturing a space, ensuring accurate documentation from the start. -- Tag management – Easily copy tags from one digital twin to another, eliminating redundant work. ✓ Launched the 2024 Fall Release: Insights Meets Imagination introducing generative AI-powered design tools that transform digital twins into interactive, creative canvases—helping professionals reimagine, redesign, and market spaces with ease. ✓ Achieved Manufacturing and Industrial Competency status, along with AWS Energy Competency status in the Health, Safety, and Environment category. These recognitions underscore Matterport’s leadership in helping businesses leverage AWS cloud technology through advanced software and service offerings. ✓ Celebrated the Top 5 Most Viewed Spaces of 2024, showcasing the world’s most captivating digital twins—from iconic landmarks to immersive travel experiences. This annual list highlights the most-loved digital destinations while reinforcing Matterport’s industry-defining innovation. Transaction with CoStar Group, Inc. Given the pending acquisition of Matterport by CoStar Group, Inc. that was announced on April 22, 2024, Matterport will not be holding a conference call or live webcast to discuss quarterly financial results. Also, in light of the pending transaction, the Company had previously suspended its financial guidance and will not be providing financial guidance for the upcoming fiscal quarter. At a special meeting of stockholders held on July 26, 2024, Matterport stockholders approved the transaction with CoStar Group, Inc. The completion of the transaction remains subject to the satisfaction or waiver of customary closing conditions specified in Matterport’s agreement with CoStar Group, Inc. The transaction is expected to close in the first quarter of 2025. 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: www.matterport.com ©2025 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 via Globe Newswire |
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    Source: Matterport via Globe Newswire |
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