{"id":81638,"date":"2023-11-07T08:58:05","date_gmt":"2023-11-07T13:58:05","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/matterport-nasdaqmttr-beats-q3-sales-targets-but-quarterly-guidance-underwhelms\/"},"modified":"2023-11-07T08:58:09","modified_gmt":"2023-11-07T13:58:09","slug":"matterport-nasdaqmttr-beats-q3-sales-targets-but-quarterly-guidance-underwhelms","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=81638","title":{"rendered":"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms"},"content":{"rendered":"<div>\n<div id=\"imgCarousel\" class=\"imgCarousel\">\n<p><span class=\"text\">Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms<\/span><br \/>\n<i class=\"imgGrad\"><\/i>\n<\/div>\n<p>Real estate focused virtual reality platform Matterport (NASDAQ:) reported Q3 FY2023 results topping analysts&#8217; expectations, with revenue up 7% year on year to $40.6 million. Revenue guidance for the full year also exceeded analysts&#8217; estimates but next quarter&#8217;s guidance of $40 million was less impressive, coming in 0.6% below expectations. Turning to EPS, Matterport made a GAAP loss of $0.15 per share, improving from its loss of $0.20 per share in the same quarter last year.<\/p>\n<p>Is now the time to buy Matterport? Find out by reading the original article on StockStory.<\/p>\n<p>Matterport (MTTR) Q3 FY2023 Highlights:<\/p>\n<ul>\n<li><strong>Revenue:<\/strong> $40.6 million vs analyst estimates of $39.1 million (3.9% beat)<\/li>\n<li><strong>EPS (non-GAAP):<\/strong> -$0.04 vs analyst estimates of -$0.06<\/li>\n<li><strong>Revenue Guidance for Q4 2023<\/strong> is $40 million at the midpoint, below analyst estimates of $40.2 million<\/li>\n<li><strong>Free Cash Flow<\/strong> was -$17.8 million compared to -$12.5 million in the previous quarter<\/li>\n<li><strong>Customers:<\/strong> 887,000, up from 827,000 in the previous quarter<\/li>\n<li><strong>Gross Margin (GAAP):<\/strong> 49%, up from 43.1% in the same quarter last year<\/li>\n<\/ul>\n<p>\u201cI\u2019m pleased to report standout third quarter results with both revenue and loss per share surpassing the high end of guidance. Total revenue for the quarter grew to $40.6 million, fueled by strong uptake from enterprises and SMBs. Subscription revenue jumped 20% year-over-year, to a record $22.9 million, underscoring the growing trust in our platform to boost productivity and cut operational costs,\u201d said RJ Pittman, Chairman and Chief Executive Officer of Matterport.<\/p>\n<p>Founded in 2011 before any mass-market VR headset was released, Matterport (NASDAQ:MTTR) provides the hardware and software necessary to turn real-world spaces into 3D visualization.<\/p>\n<p>Design SoftwareThe demand for rich, interactive 2D, 3D, VR and AR experiences is growing, and while the ubiquitous metaverse might still be more of a buzzword than a real thing, what is real is the demand for the tools to create these experiences, whether they are games, 3D tours or interactive movies.<\/p>\n<p>Sales GrowthAs you can see below, Matterport&#8217;s revenue growth has been strong over the last two years, growing from $27.7 million in Q3 FY2021 to $40.6 million this quarter.<\/p>\n<p>Matterport&#8217;s quarterly revenue was only up 7% year on year, which might disappoint some shareholders. Additionally, its growth did slow down compared to last quarter as the company&#8217;s revenue increased by just $1.1 million in Q3 compared to $1.6 million in Q2 2023. While we&#8217;d like to see revenue increase by a greater amount each quarter, a one-off fluctuation is usually not concerning.<\/p>\n<p>Next quarter, Matterport is guiding for a 2.8% year-on-year revenue decline to $40 million, a further deceleration from the 51.9% year-on-year decrease it recorded in the same quarter last year. Looking ahead, analysts covering the company were expecting sales to grow 7.9% over the next 12 months before the earnings results announcement.<\/p>\n<p>Customer Growth Matterport reported 887,000 customers at the end of the quarter, an increase of 60,000 from the previous quarter. That&#8217;s roughly the same customer growth as we observed last quarter and quite a bit above what we&#8217;ve typically seen over the last year, confirming that the company is sustaining a good sales pace.<\/p>\n<p>Key Takeaways from Matterport&#8217;s Q3 ResultsAlthough Matterport, which has a market capitalization of $662.7 million, has been burning cash over the last 12 months, its more than $407.8 million in cash on hand gives it the flexibility to continue prioritizing growth over profitability.<\/p>\n<p>It was good to see Matterport beat analysts&#8217; revenue expectations this quarter. We were also glad its full-year revenue guidance came in higher than Wall Street&#8217;s estimates. On the other hand, its revenue guidance for next quarter underwhelmed. Overall, this was a mixed quarter for Matterport. The stock is up 4.2% after reporting and currently trades at $2.22 per share.<\/p>\n<p><i>The author has no position in any of the stocks mentioned in this report.<\/i><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.investing.com\/news\/stock-market-news\/matterport-nasdaqmttr-beats-q3-sales-targets-but-quarterly-guidance-underwhelms-3224178\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms Real estate focused virtual reality platform Matterport (NASDAQ:) reported Q3 FY2023 results topping analysts&#8217; expectations, with revenue up 7% year on year to $40.6 million. Revenue guidance for the full year also exceeded analysts&#8217; estimates but next quarter&#8217;s guidance of $40 million was less impressive, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2984,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-81638","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms Real estate focused virtual reality platform Matterport (NASDAQ:)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=81638\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms Real estate focused virtual reality platform Matterport (NASDAQ:)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=81638\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-07T13:58:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-07T13:58:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEAB20I9_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=81638#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=81638\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms\",\"datePublished\":\"2023-11-07T13:58:05+00:00\",\"dateModified\":\"2023-11-07T13:58:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=81638\"},\"wordCount\":633,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=81638#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=81638\",\"url\":\"https:\/\/ifintechworld.com\/?p=81638\",\"name\":\"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-11-07T13:58:05+00:00\",\"dateModified\":\"2023-11-07T13:58:09+00:00\",\"description\":\"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms Real estate focused virtual reality platform Matterport (NASDAQ:)\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=81638#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=81638\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=81638#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms | iFintechWorld","description":"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms Real estate focused virtual reality platform Matterport (NASDAQ:)","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=81638","og_locale":"en_US","og_type":"article","og_title":"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms | iFintechWorld","og_description":"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms Real estate focused virtual reality platform Matterport (NASDAQ:)","og_url":"https:\/\/ifintechworld.com\/?p=81638","og_site_name":"iFintechWorld","article_published_time":"2023-11-07T13:58:05+00:00","article_modified_time":"2023-11-07T13:58:09+00:00","og_image":[{"width":800,"height":533,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/LYNXNPEAB20I9_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=81638#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=81638"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms","datePublished":"2023-11-07T13:58:05+00:00","dateModified":"2023-11-07T13:58:09+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=81638"},"wordCount":633,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=81638#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=81638","url":"https:\/\/ifintechworld.com\/?p=81638","name":"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-11-07T13:58:05+00:00","dateModified":"2023-11-07T13:58:09+00:00","description":"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms Real estate focused virtual reality platform Matterport (NASDAQ:)","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=81638#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=81638"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=81638#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Matterport (NASDAQ:MTTR) Beats Q3 Sales Targets But Quarterly Guidance Underwhelms"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/81638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=81638"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/81638\/revisions"}],"predecessor-version":[{"id":81639,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/81638\/revisions\/81639"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/2984"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=81638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=81638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=81638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}