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Tag: Matterport Inc.

  • Matterport Inc. (MTTR) stock Further Down After Hours Following Q4 Fiscal 2021 Results

    Matterport Inc. (MTTR) stock Further Down After Hours Following Q4 Fiscal 2021 Results

    On February 16, Matterport Inc. (MTTR) declared its unaudited financial results for the fourth quarter of fiscal 2021. The company also provided an outlook for its ongoing quarter and fiscal 2022. Consequently, the stock went further down in the after-hours on Wednesday.

    During the regular trading session, the stock remained in the red with a loss of 5.60% at its close of $7.92. The day saw a heavy volume of 20.54 million at 190% of its average. Following the announcement, MTTR stock’s fall escalated in the after-hours as it lost a further 12.50%. Hence, the stock was trading at $6.93 per share at an after-hours volume of 3.38 million shares on Wednesday.

    The spatial data company, Matterport Inc. is headquartered in Sunnyvale, CA. Currently, its 242.5 million outstanding shares trade at a market capitalization of $2.03 billion. MTTR stock has lost 61.63% year to date while it subtracted 60.60% last year.

    MTTR’s Q4 2021 Results

    In Q4 2021, the company had total revenue of $27.1 million with an increase of 15% YOY.

    Moreover, the total subscribers saw an increase of 98% in the quarter to 503,000.

    MTTR’s spaces under management (SUM) was 6.7 million in Q4 2021, which shows an increase of 53% YOY.

    In addition, the company had a net loss of $0.66 per basic and diluted share in Q4 2021.

    Future Outlook

    For fiscal 2022, the company expects revenue to be in the range of $125 to $135 million.

    Furthermore, MTTR expects recurring subscription revenue of $80-$82 million with 31%-34% YOY growth for fiscal 2022.

    Additionally, for Q1 2022, the total revenue is expected to be $25.5 to $27.5 million and RSR $17.1 to $17.4 million.

    MTTR’s Leadership Team Changes

    On February 10, the company announced new additions to its leadership team. Firstly, Florence Shaffer was appointed as Vice President, Strategy & Operations, Chief of Staff to CEO. With over two decades of experience, Shaffer will report to RJ Pittman, MTTR’s CEO, and help drive the company’s strategic and operational mandate.

    Secondly, Deepti Illa was appointed as the company’s Vice President, Global Integrated Marketing. Illa will be reporting to the company’s Chief Marketing Officer, Tom Klien. She will be responsible for global marketing efforts for the elevation of the company brand and to scale adoption.

    Matterport AxisTM

    On February 08, the company announced its revolutionary motorized mount, Matterport AxisTM. The mount works with smartphones for capturing 3D digital twins of any physical space with speed, precision, and consistency. Currently available at a prelaunch price, the mount will be officially launched on April 1, 2022.

  • Here’s why Matterport, Inc. (MTTR) Stock Dipped in Aftermarket

    Matterport, Inc. (MTTR) is an online global transformation company engaged in improving each and every part of the building lifecycle. The company’s innovative spatial figures portfolio turns buildings into data to transform them into more valued and accessed space.

    The price of MTTR stock during the regular trading on February 2, 2022, was $8.72 with a steep dip of 9.07%. At last check in the aftermarket, the stock was down by 7%.

    MTTR: Events and Happenings

    On February 02, 2022, MTTR announced the utilization of its Capture Services by Orangetheory to scan and produce online twins of its studios. On January 27, 2022, MTTR updated about enabling of cost and time-savings for a bunch of its retail customers by Retail VR. It utilizes MTTR’s Pro2 3D cameras and software development portfolios.

    On January 20, 2022, MTTR reported about the international expansion of its Capture Services to five more countries including Canada, France, Singapore Ireland, and the Netherlands.  On January 06, 2022, MTTR accomplished the purchase of Enview, Inc. The company acquired all of its issued and outstanding equity interests for the acquisition price of 1.59 million shares of its common stock.

    On December 16, 2021, MTTR reported on winning Best Company Culture and Best Company for Women awards. The company was ranked in the top 50 for small/medium-sized businesses in both groups.

    On December 09, 2021, MTTR updated about its adoption to accelerate the immediate redesign and renovation of RPM Pizza stores. On November 04, 2021, MTTR management participated in the following investor conferences.

    • Berenberg US CEO Conference on November 9.
    • P. Morgan Digital Twin Seminar on November 10.
    • Credit Suisse 25th Annual Technology Conference on November 30, and
    • Wells Fargo 5th Annual TMT Summit on December 1, 2021.

    MTTR: Key Financials

    On November 03, 2021, MTTR released its financial results for the quarter ended September 30, 2021. Some of the key updates are as follows.

    Revenue

    Total revenue in Q3 2021 was $27.7 million compared to $25 million in the same period of 2020. The company’s revenue incline by 10% over the period of the year. The company missed on the estimated revenue by $1.49 million.

    EPS

    Basic and diluted net loss per share in Q3 2021 was $168 million or $0.86 versus net income of $0.9 million in the same period of 2020. The company beat the estimated EPS by $0.02 per share.

    Conclusion

    MTTR performance dipped by 41% from the past six months due to the impact of the financial downturn as a result of the pandemic. The company’s stock again showed a declining trend in Wednesday’s aftermarket session after the announcement of the adoption of its digital twins by Orangetheory. The analysts are believing that the company should invest in advanced manufacture and marketing strategies of its products to elevate its overall position.