Matterport Announces Second Quarter 2022 Financial Results, with Stronger-than-Expected Subscription Revenue and Non-GAAP EPS
1. Subscription revenue rose 20% year-over-year, above Company guidance
2. Services revenue increased 74% year-over-year
3. Q2 GAAP loss per share of $0.23
4. Non-GAAP loss per share of $0.12, better than Company guidance
5. Matterport increases full year revenue guidance range to $132 to $138 million, narrows full year guidance range for non-GAAP loss per share to $0.46 to $0.50
6. Balance sheet remains strong with $562 million cash and investments and no debt
SUNNYVALE, California, Wednesday, August 10, 2022 (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 ended June 30, 2022.
“We delivered another strong quarter, increasing our subscriber count by 52% to 616,000 subscribers. We expanded Spaces Under Management by 44% to over 8 million spaces,” said RJ Pittman, Chairman and Chief Executive Officer of Matterport. “We continue to see strength in our enterprise subscriber base, and believe that customers who adopt digital twins will realize increased revenues and lower their operating costs, gaining a powerful advantage in any economic environment. Our laser focus on delivering measurable customer value for large enterprises and small businesses alike is fueling our growth and scaling our platform. Our recent acquisition of VHT Studios extends our offering to satisfy the growing demand for digital twins and integrated marketing solutions for the residential, commercial and hospitality real estate industries,” Pittman added.
Matterport media release continues in the We Get Around Network Forum (www.WGANForum.com).