Matterport Announces First Quarter 2023 Financial Results
1. Q1 total revenue of $38.0 million, up 33% year-over-year and above high end of guidance range
2. Q1 subscription revenue reached record $19.8 million, above high end of guidance range
3. Q1 GAAP loss per share of $0.18 and Non-GAAP loss per share of $0.07, $0.03 better than the midpoint of guidance range
4. Strong balance sheet with $456 million in cash and investments and no debt
5. Company raises 2023 guidance driven by strong customer adoption and continued focus on operating efficiency
Matterport First Quarter 2023 Financial Results - Deck
SUNNYVALE, California, Tuesday, May 9, 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 financial results for the quarter ended March 31, 2023.
“We are off to a great start in 2023, with first quarter revenue of $38 million; $2 million above the high end of our guidance range, along with strong outperformance on the bottom line with a Non-GAAP net loss per share of $0.07, as we accelerate our path to profitability,” said RJ Pittman, Chairman and Chief Executive Officer of Matterport. “We set new records across our key metrics with Spaces Under Management reaching 9.9 million by the end of the quarter, more than double the number of spaces we managed at the start of 2021, and we just crossed the 10 million spaces milestone last month,” Pittman added.
Matterport media release continues in the We Get Around Network (WGAN) Forum (www.WeGetAroundNetworkForum.com).
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