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.
