MTTR Earnings Prediction
The chart below shows how MTTR performed 10 days before and after its earnings report, based on data from the past quarters. Typically, MTTR sees a +1.78% change in stock price 10 days leading up to the earnings, and a +6.81% change 10 days following the report. On the earnings day itself, the stock moves by +2.30%. This data can give you a slight idea of what to expect for the next quarter's release.
MTTR Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
39.55M
-3.88%
-2.70%
Gross Margin
46.07%
60.19%
-5.90%
Operating Margin
-124.26%
-18.03%
2.23%
Net Margin
-111.13%
-24.24%
0.92%
EPS
-0.14
-33.33%
-6.67%
No Data Available
MTTR Earnings Analysis
Matterport, Inc. Corporation (MTTR.O) Earnings Conference Call
Positive
- Matterport closed 2023 with strong fourth quarter results, with total revenue of $39.5 million, powered by a 23% year-over-year growth in subscription revenue, reaching a record $23.7 million for the period. This demonstrates the platform's growing credibility in boosting productivity and reducing operational costs for customers across industries.
- Matterport's key metrics continue to grow, with space under management reaching $11.7 million and the subscriber base expanding to 938,000. The company's ability to deliver robust subscription growth, while driving significant operating improvements, led to a 56% year-on-year improvement in loss per share to $0.04, highlighting a path to positive cash flow expected to be achieved this year.
- Net dollar expansion rate improved to 109% from 106% in the prior quarter, the highest level in two years, reflecting increased adoption and deeper understanding of the broader applications of Matterport's technology. This growth is pivotal to the company's product strategy and sets a strong foundation for future growth.
- Matterport's ability to adapt to changing market conditions paid off in 2023, with a comprehensive restructuring strategy to align the business with core competencies and high-growth areas. The company grew total revenue by 16% amidst industry challenges, with residential real estate subscription revenue growing by 14% and subscription revenue outside of real estate in verticals like facilities management and construction growing more than 20%.
- Matterport digitized over 9 billion square feet of real estate in 2023, closing the year with 38 billion square feet under management, a 36% increase led by Pro3 adoption and usage. This rapid growth demonstrates market leadership and is pivotal to the company's product strategy, setting them apart from the competition.
- The launch of Property Intelligence, a suite of AI-powered features for the next generation of intelligent digital twins, showcases Matterport's commitment to innovation and customer value. This advancement propels the company ahead by introducing automated features designed to elevate every property listing and save customers valuable time and effort, setting a new standard in property marketing.
- Matterport's partnerships and collaborations across various industries, including travel and hospitality, construction, and Fortune 1000 clients like John Deere and Siemens, demonstrate the company's expanding presence and the value its solutions bring to a wide range of customers. These partnerships contribute to revenue growth and position Matterport as a leader in the digital twin space.
Negative
- Despite positive results, Matterport reported a non-GAAP loss per share of $0.04 for the quarter, which was an improvement of 56% year-on-year but still indicates ongoing losses.
- Services revenue for the fourth quarter remained flat at $8.3 million, which may suggest challenges in scaling this revenue stream.
- The limited growth in product revenue for the quarter at $7.5 million, despite promotions like Black Friday and Cyber Monday, might indicate potential challenges in maintaining product sales volumes.
- Operating expenses were $38.2 million in Q4, representing a 12% reduction year-on-year, which, while showing improvement, may still be a concern for achieving profitability.
- The company's full-year 2023 non-GAAP loss per share was $0.22, a 46% improvement from the prior year, but indicates ongoing losses that need to be addressed.
- Despite steady revenue growth, Matterport's cash used in operations was $10.4 million in the quarter, albeit a 46% improvement from the prior year, signaling continued cash outflow that needs to be managed.
- While Matterport reported total revenue growth of 16% in 2023, challenges in certain sectors like residential real estate and product sales may need to be addressed for sustained growth.
