Matterport Inc (MTTR) Q1 2024 Earnings: Narrowing Losses and Expanding Subscriber Base

GuruFocus.com05-07

Revenue: Reported at $39.9 million, slightly below the estimated $40.04 million. Net Loss: Recorded at $0.12 per share, significantly above the estimated loss of $0.03 per share. Annualized Recurring ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2433023044?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-07 05:40","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2433023044","market":"us","top_or_hot":-1,"title":"Matterport Inc (MTTR) Q1 2024 Earnings: Narrowing Losses and Expanding Subscriber Base","media":"GuruFocus.com","content":"<div>\n<p>Revenue: Reported at $39.9 million, slightly below the estimated $40.04 million.\nNet Loss: Recorded at $0.12 per share, significantly above the estimated loss of $0.03 per share.\nAnnualized Recurring ...</p>\n\n<a href=\"https://finance.yahoo.com/news/matterport-inc-mttr-q1-2024-214046317.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Matterport Inc (MTTR) Q1 2024 Earnings: Narrowing Losses and Expanding Subscriber Base</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMatterport Inc (MTTR) Q1 2024 Earnings: Narrowing Losses and Expanding Subscriber Base\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-07 05:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/matterport-inc-mttr-q1-2024-214046317.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue: Reported at $39.9 million, slightly below the estimated $40.04 million.\nNet Loss: Recorded at $0.12 per share, significantly above the estimated loss of $0.03 per share.\nAnnualized Recurring ...</p>\n\n<a href=\"https://finance.yahoo.com/news/matterport-inc-mttr-q1-2024-214046317.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MTTR","symbol_name":"Matterport, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/matterport-inc-mttr-q1-2024-214046317.html","article_id":"2433023044","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2433023044","pubTimestamp":1715031646,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Revenue: Reported at $39.9 million, slightly below the estimated $40.04 million.Net Loss: Recorded at $0.12 per share, significantly above the estimated loss of $0.03 per share.Annualized Recurring Revenue : Reached $96 million, marking a 21% increase year-over-year.Subscribers: Total subscribers grew to 1.0 million, a 30% increase from the previous year.Operational Efficiency: Cash used in operating activities improved by 81% year-over-year.Non-GAAP Net Loss: Improved by 86% year-over-year, with a non-GAAP net loss of $0.01 per share.Strategic Developments: Entered into a definitive agreement to be acquired by CoStar Group, enhancing future growth prospects.GuruFocus has detected 5 Warning Signs with MTTR.Matterport Inc  disclosed its first quarter financial results for 2024 on May 6, showcasing significant improvements in net loss and a robust increase in subscription revenue. The company released these details through its 8-K filing. Matterport, a leader in spatial data with a focus","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"MTTR":"Matterport, Inc.","CSGP":"科斯塔"},"translate_title":"Matterport Inc(MTTR)Q1 2024年收益：收窄亏损和扩大用户群","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MTTR":1,"CSGP":0.9},"content_text":"Revenue: Reported at $39.9 million, slightly below the estimated $40.04 million.\nNet Loss: Recorded at $0.12 per share, significantly above the estimated loss of $0.03 per share.\nAnnualized Recurring Revenue (ARR): Reached $96 million, marking a 21% increase year-over-year.\nSubscribers: Total subscribers grew to 1.0 million, a 30% increase from the previous year.\nOperational Efficiency: Cash used in operating activities improved by 81% year-over-year.\nNon-GAAP Net Loss: Improved by 86% year-over-year, with a non-GAAP net loss of $0.01 per share.\nStrategic Developments: Entered into a definitive agreement to be acquired by CoStar Group, enhancing future growth prospects.\n\n\nWarning! GuruFocus has detected 5 Warning Signs with MTTR.\n\nMatterport Inc (NASDAQ:MTTR) disclosed its first quarter financial results for 2024 on May 6, showcasing significant improvements in net loss and a robust increase in subscription revenue. The company released these details through its 8-K filing. Matterport, a leader in spatial data with a focus on digitizing the built world, reported a net loss of $0.12 per share, a 33% year-over-year improvement. This performance closely aligns with analyst expectations, which predicted a smaller loss of $0.03 per share for the quarter.\nCompany Overview\nMatterport Inc is at the forefront of the digital transformation of physical spaces, providing comprehensive 3D data platforms that convert buildings into valuable digital twins. These digital representations are utilized across various industries for documentation, marketing, and operation enhancements.\nFinancial Performance Insights\nThe first quarter saw Matterport achieving a 21% increase in subscription revenue, reaching $24 million, which now constitutes over 60% of its total revenue. This shift towards a subscription-based revenue model highlights Matterport's strategic focus on recurring revenue streams. The total revenue for the quarter stood at $39.9 million, nearly meeting the analyst's expectation of $40.04 million.\nAnother highlight from the quarter is the substantial growth in Matterport's subscriber base, which soared by 30% year-over-year to reach one million subscribers. The company also reported a 35% increase in square feet under management, now totaling 40.7 billion.\nStrategic Developments and Market Expansion\nSignificant corporate developments include a definitive agreement for acquisition by CoStar Group, which is expected to enhance Matterport's market reach and technological capabilities. This merger underscores the strategic alignment and shared vision between Matterport and CoStar in revolutionizing real estate through digital technology.\nAdditionally, new partnerships with major corporations like Crunch Fitness and Kikkoman Corporation were announced, which leverage Matterport's technology for diverse applications such as marketing and facility management.\nOperational and Financial Metrics\nMatterport's operational efficiency is evident from the 81% improvement in cash used in operating activities, totaling $3.8 million for the quarter. The company's financial health is further highlighted by its strong cash reserves of $419 million, with no debt, providing substantial financial flexibility.\nAnalysis\nThe first quarter results of 2024 reflect Matterport's ongoing commitment to growth and operational efficiency. The improvement in net loss and the expansion of the subscriber base are indicative of effective strategy implementation and market acceptance of Matterport's offerings. The anticipated merger with CoStar Group is likely to further bolster Matterport's market position and enhance shareholder value.\nOverall, Matterport's Q1 2024 performance aligns well with market expectations and positions the company on a positive trajectory amidst its strategic transformations and expanding market presence.\nConclusion\nAs Matterport continues to innovate and expand its platform, the company remains well-poised to capitalize on the growing demand for digital twin technology. Investors and market watchers will undoubtedly keep a close eye on the completion of the CoStar transaction and its integration in the coming months, which promises to be a transformative step for Matterport in its industry.\n Explore the complete 8-K earnings release (here) from Matterport Inc for further details. This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2433023044"}