Total revenue was $38.0 million, up 33% year-over-year.Spaces under management increased to 9.9 million, up 36% year-over-year.Total subscribers increased to 771,000, up 37% year-over-year.As a result, we are raising our full year financial guidance for 2023.” The strength in our business and our continued focus on operating efficiency also resulted in bottom line performance well above our guidance range for the quarter. “Subscription revenue reached $19.8 million, a new record that brings our annual recurring revenue up to $79.4 million. “Our subscriber base expanded to 771,000, buoyed by strong enterprise adoption and improving subscriber growth rates in small and medium businesses in the quarter,” said JD Fay, Chief Financial 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. “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. (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. ![]() SUNNYVALE, Calif., (GLOBE NEWSWIRE) - Matterport, Inc. Company raises 2023 guidance driven by strong customer adoption and continued focus on operating efficiency.Strong balance sheet with $456 million in cash and investments and no debt.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.Q1 subscription revenue reached record $19.8 million, above high end of guidance range.Q1 total revenue of $38.0 million, up 33% year-over-year and above high end of guidance range.
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