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Matterport, Inc. (MTTR)
NASDAQ:MTTR
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Matterport
(NASDAQ:MTTR)
62Neutral
Matterport (MTTR) vs. S&P 500 (SPY)
Market Cap
$1.76B
Dividend YieldN/A
Average Volume (3M)5.49M
Price to Earnings (P/E)―
Beta (1Y)2.88
Revenue Growth7.58%
EPS Growth-21.55%
CountryUS
Employees438
SectorTechnology
Sector Strength69
IndustrySoftware
Share Statistics
EPS (TTM)-0.81
Shares Outstanding327,624,000
10 Day Avg. Volume7,814,954
30 Day Avg. Volume5,489,099
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)10.39
Price to Cash Flow (P/CF)-164.60
P/FCF Ratio0.00
Enterprise Value/Market Cap0.61
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit13.03
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Matterport Business Overview & Revenue Model
Company DescriptionMatterport, Inc. is a leading spatial data company that focuses on digitizing and indexing the built world. Headquartered in Sunnyvale, California, Matterport operates primarily in the technology sector, offering innovative solutions for capturing, processing, and visualizing 3D spaces. The company's core products include the Matterport Pro2 3D camera and a cloud-based platform that converts real-world spaces into immersive digital twins. These digital twins are utilized across various industries such as real estate, construction, and retail to enhance design, marketing, and operational efficiencies.
How the Company Makes MoneyMatterport generates revenue through a combination of hardware sales, subscription services, and licensing of its software platform. The company sells its proprietary 3D cameras, which are used to capture physical spaces and convert them into digital formats. Additionally, Matterport offers subscription-based access to its cloud platform, where users can store, process, and share their digital twins. These subscriptions vary in pricing based on the number of spaces hosted and the level of service required. Furthermore, Matterport licenses its technology to third-party companies and developers who integrate its 3D capture capabilities into their own applications. Strategic partnerships with real estate firms and other industry players also contribute to its revenue, enhancing its market reach and adoption of its solutions.
Matterport Financial Statement Overview
Summary
Matterport shows revenue growth and a strong equity position, but faces significant profitability and cash flow challenges. Negative net income and cash flows highlight ongoing financial instability despite the company's market potential.Income Statement
Matterport has shown consistent revenue growth from $46.0M in 2019 to $169.7M in 2024, with a notable Revenue Growth Rate of 7.6% from 2023 to 2024. However, profitability remains a concern as the company continues to report negative Net Income, with a Net Profit Margin of -151.2% in 2024. Gross Profit Margin has improved slightly to 48.9% in 2024, but EBIT and EBITDA margins remain significantly negative, reflecting ongoing operational challenges.45
Neutral
Balance Sheet
Matterport's balance sheet shows stability with a strong equity position, where Stockholders' Equity stands at $397.1M in 2024. The Equity Ratio has improved to 73.0%, indicating a solid asset base supported by equity. The Debt-to-Equity Ratio remains low at 0.0005, reflecting minimal leverage. However, the Return on Equity is negative due to sustained losses, indicating inefficiencies in utilizing equity capital.55
Neutral
Cash Flow
The cash flow statement highlights Matterport's challenges with cash generation, as Free Cash Flow has been negative over the years, with a slight improvement in Free Cash Flow Growth Rate from -$68.6M in 2023 to -$21.6M in 2024. The Operating Cash Flow to Net Income Ratio has improved but remains negative, indicating cash flow issues. Positive Investing Cash Flow suggests strategic investments, but overall cash flow remains under pressure.50
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 169.70M | 157.75M | 136.13M | 111.17M | 85.88M | Gross Profit |
| 82.91M | 70.49M | 51.85M | 59.97M | 47.94M | EBIT |
| -273.85M | -209.94M | -275.49M | -147.77M | -11.56M | EBITDA |
| -155.61M | -179.46M | -96.80M | -331.78M | -7.67M | Net Income Common Stockholders |
| -256.62M | -199.08M | -111.34M | -338.06M | -14.02M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 246.60M | 388.17M | 472.94M | 404.45M | 51.85M | Total Assets |
| 543.67M | 577.15M | 640.39M | 719.18M | 71.85M | Total Debt |
| 206.00K | 1.28M | 1.27M | 0.00 | 12.72M | Net Debt |
| -57.02M | -81.63M | -115.86M | -139.52M | -39.13M | Total Liabilities |
| 146.53M | 47.87M | 56.48M | 451.01M | 28.38M | Stockholders Equity |
| 397.14M | 529.28M | 583.91M | 268.16M | -120.70M |
| Cash Flow | Free Cash Flow | |||
| -21.56M | -68.62M | -132.88M | -46.82M | -8.48M | Operating Cash Flow |
| -21.31M | -58.71M | -118.56M | -38.81M | -3.60M | Investing Cash Flow |
| 89.76M | 19.54M | 95.18M | -541.82M | -4.88M | Financing Cash Flow |
| 2.58M | 4.79M | 277.00K | 668.45M | 50.46M |
Matterport Technical Analysis
Positive
5.38
Price Trends
5.13
Positive
4.94
Positive
4.64
Positive
Market Momentum
0.07
Positive
60.34
Neutral
51.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTTR, the sentiment is Positive. The current price of 5.38 is above the 20-day moving average (MA) of 5.34, above the 50-day MA of 5.13, and above the 200-day MA of 4.64, indicating a bullish trend. The MACD of 0.07 indicates Positive momentum. The RSI at 60.34 is Neutral, neither overbought nor oversold. The STOCH value of 51.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MTTR.
Matterport Risk Analysis
Matterport disclosed 43 risk factors in its most recent earnings report. Matterport reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Matterport Peers Comparison
Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $35.13B | ― | -1.21% | ― | 27.77% | 89.39% | |
68 Neutral | $15.00B | ― | -1.24% | ― | 7.32% | 88.51% | |
67 Neutral | $2.99B | 21.26 | 45.56% | ― | 10.74% | 200.08% | |
62 Neutral | $1.76B | ― | -55.40% | ― | 7.58% | -21.55% | |
60 Neutral | $10.95B | 10.52 | -7.07% | 3.00% | 7.30% | -12.04% | |
53 Neutral | $1.22B | ― | 199.35% | ― | -4.16% | -17.19% | |
51 Neutral | $836.29M | ― | -16.25% | ― | 7.45% | -10.76% |
* Technology Sector Average
Performance Comparison
MTTR
Matterport
5.38
0.84
18.50%
TWLO
Twilio
100.11
38.22
61.75%
BL
BlackLine
47.27
-13.64
-22.39%
RDFN
Redfin
9.59
3.39
54.68%
ZS
Zscaler
230.47
53.36
30.13%
FSLY
Fastly
5.86
-2.62
-30.90%
Matterport Earnings Call Summary
Earnings Call Date:Feb 26, 2025
(Q4-2023)
| % Change Since: -1.10%|
Next Earnings Date:May 13, 2025
Earnings Call Sentiment Positive
The earnings call highlighted robust subscription growth and strategic partnerships driving future momentum. Despite challenges in the real estate market and a decline in product revenue, the company showed strong improvements in key metrics such as gross margin and net dollar expansion rate.Q4-2023 Updates
Positive Updates
Strong Revenue Growth
Total revenue for Q4 2023 was $39.5 million, with subscription revenue growing 23% year-over-year to a record $23.7 million. Full-year 2023 revenue grew by 16% to $157.7 million.
Growth in Subscriber Base
The subscriber base expanded to 938,000, with paid subscribers growing by 13% and free subscribers by 36% year-over-year.
Gross Margin Improvement
Overall gross margin improved to 53% from 36% in the previous year, with a 300 basis point improvement in subscription gross margin.
Net Dollar Expansion Rate Increase
Net dollar expansion rate improved to 109%, the highest level in two years, indicating successful customer retention and expansion.
Strategic Partnerships
Partnerships with companies like Vacasa and Visiting Media were established, aimed at enhancing Matterport's platform and broadening customer engagement.
Negative Updates
Product Revenue Decline
Product revenue for Q4 2023 was $7.5 million, down from the previous year due to high prior-year comparisons and slight declines in average selling prices.
U.S. Real Estate Market Challenges
Despite growing revenue, the company faced a challenging U.S. real estate market, with home sales down almost 19%.
Company Guidance
During the Matterport earnings call for the fourth quarter of 2023, management provided a comprehensive overview of the company's financial and strategic performance, emphasizing several key metrics. Total revenue for the quarter was reported at $39.5 million, with subscription revenue showing a robust 23% year-over-year growth to reach $23.7 million, surpassing the high end of their guidance range. The company highlighted a remarkable improvement in their net dollar expansion rate, which rose to 109%, indicating strong customer retention and expansion. Gross margin increased to 53%, up from 36% in the previous year, driven by subscription growth and cost efficiencies. Operating expenses decreased by 12% year-over-year, contributing to a 56% improvement in non-GAAP loss per share, which stood at $0.04. Looking ahead, Matterport projects total revenue for the first quarter of 2024 to be between $39 million and $41 million, with subscription revenue expected to continue growing at approximately 22% year-over-year. The company remains focused on achieving positive cash flow by the end of 2024, leveraging its strategic initiatives in AI and digital twin technologies to drive further growth.Matterport Corporate Events
Delistings and Listing ChangesExecutive/Board ChangesM&A Transactions
CoStar Group Acquires Matterport, Delisting from Nasdaq
Positive
Feb 28, 2025
CoStar Group, a leader in commercial real estate information and analytics, has successfully completed its acquisition of Matterport, a pioneer in 3D digital twin technology. This merger, announced on February 28, 2025, aims to accelerate the adoption of AI-driven digital twin technology in the real estate sector. The acquisition is expected to enhance property insights and drive growth in digital twin technology, positioning the combined entity at the forefront of real estate innovation. As a result of the merger, Matterport’s shares will be delisted from Nasdaq, and its board of directors has been restructured. The merger is set to transform the real estate industry by integrating advanced AI, computer vision, and machine learning technologies.
Product-Related AnnouncementsM&A TransactionsFinancial Disclosures
Matterport Reports Record Revenue and New AI Features
Positive
Feb 26, 2025
Matterport announced its financial results for the fourth quarter and full year ending December 31, 2024, highlighting a record total revenue of $169.7 million, an 8% increase from the previous year. The company also reported a 14% year-over-year growth in subscription revenue, reaching $99.6 million, and a significant milestone of 50.7 billion square feet digitized and managed. With the launch of its 2025 Winter Release, Matterport introduced new AI-driven features and tools to enhance real estate marketing, including the Matterport Marketing Cloud and Model Merge, which streamline property workflows and improve project efficiency. The company is also in the process of being acquired by CoStar Group, Inc., with the transaction expected to close in the first quarter of 2025.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.