Matterport Stock Forecast 2023

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Matterport Inc. is a data company that is focused on digitalizing and indexing the built world. The company aims to turn buildings into data to make nearly every space more valuable and accessible. Matterport offers different applications to make the optimal utilization of spaces.

  • Matterport Capture enables to capture of depth, data, and imagery of space using 3D cameras.
  • Matterport Workshop Application helps to customize, add additional details, and share spaces.
  • Matterport Showcase application is used for the audience display. It gives an idea about the final format to the audience
  • Matterport VR is used for virtual reality.

Matterport Stock Forecast: Latest news

  • Matterport, a company that specializes in digital twins, has partnered with Tenzan Sake Brewery Co., one of the world’s oldest sake brewers. The partnership will use Matterport’s technology to digitally preserve the history and culture of the brewery, as well as to reduce the costs of managing the historic facility.
  • Matterport has announced that it is scheduled to release its financial results for the second quarter of 2023 on Tuesday, August 8, 2023, after the market closes.
  • Matterport announced on July 27, 2023 that it had raised $150 million in Series F funding. The round was led by SoftBank Vision Fund 2, with participation from existing investors GV, Kleiner Perkins, and Fidelity Investments. The funding will be used to accelerate Matterport’s growth and expand its reach into new markets.

Matterport Stock Forecast: Price Target

Matterport Stock Price Target for next 12 months$3.3
Morgan Stanley$3
Deutsche Bank$3
Piper Sandler$4

Read: Tesla Stock Forecast 2023: Is Tesla Stock A Good Buy?

Matterport Stock Forecast: Q1 Results

  • Matterport Inc. announced its Q1 2023 financial results, with a total revenue of $38 million, a 33% YoY increase. Annual recurring revenue was reported at $79.4 million. Services revenue stood at $8.7 million, marking a 119% YoY increase.Q1 subscription revenue reached a record of $19.8 million. The subscriber base grew to 771,000, driven by enterprise adoption and improved subscriber growth rates in small and medium businesses.
  • By the end of the quarter, spaces under management increased to 9.9 million, more than double from the beginning of 2021.
  • Noteworthy business highlights include integration with Autodesk Construction Cloud and AWS IoT TwinMaker, a presentation at Hannover Messe 2023, and the announcement of Digital Pro, a marketing solution for real estate agents.
  • The company recorded a GAAP loss per share of $0.18 and a Non-GAAP loss per share of $0.07.A 30% improvement YoY was noted in the Non-GAAP net loss per share, standing at $0.07.
  • The company boasts $456 million in cash and investments and no debt.
  • For Q2 2023, Matterport expects total revenue between $38 and $40 million and subscription revenue between $20.7 and $20.9 million. Non-GAAP loss per share is projected between ($0.09) and ($0.07).
  • For FY 2023, the company raises its total revenue guidance to between $155 and $169 million, and subscription revenue to between $84.5 and $86.5 million. Non-GAAP loss per share is expected to be between ($0.31) and ($0.27).

Matterport Stock Forecast: Q4 Results

  • Matterport Inc. reported a record Q4 2022 total revenue of $41.1 million, surpassing the company’s guidance.Q4 subscription revenue climbed to a record $19.3 million. Product revenue in Q4 reached a record $13.6 million, a 51% sequential increase from the prior quarter.
  • Annual revenue for 2022 rose to a record $136.1 million, a 22% increase from 2021.
  • Subscribers grew, and spaces under management exceeded 9 million in Q4.For Q4, total subscribers increased to 701,000 (39% YoY increase), Spaces Under Management (SUM) rose to 9.2 million (37% YoY increase), and Annualized Recurring Revenue (ARR) was $77.2 million.
  • Notable recent business highlights include Airbnb using Matterport’s Property Intelligence offering, private beta integration with AWS IoT TwinMaker, collaboration with John Deere, and partnerships with art and design organizations, Design Miami/ and the Miami Design District.
  • The company reported a Q4 GAAP loss per share of $0.21 and a Non-GAAP loss per share of $0.09.
  • The balance sheet remained robust with $477 million in cash and investments and no debt.
  • Q1 2023 guidance predicts revenue between $34 and $36 million and subscription revenue between $19.3 and $19.5 million, with a Non-GAAP loss per share between ($0.09) and ($0.11).
  • Full year 2023 guidance estimates revenue between $153 and $169 million, subscription revenue between $84.5 and $86.5 million, and a Non-GAAP loss per share between ($0.32) and ($0.36).

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