79% of enterprises to increase reliance on packet capture in 2025 Packet capture contributes to MTTR reduction and 4X increase in sub-hour resolution VIAVI's unified network and security solution will be showcased at Cisco Live! booth 2643 from June 8-12 in San Diego, CA.CHANDLER, Ariz., June 5, 2025 /PRNewswire/ -- According to the 2025/2026 State of the Network study by VIAVI Solutions Inc. (VIAVI) (NASDAQ: VIAV), reliance on packet capture to improve mean times to detection (MTTD) and resolution (MTTR) ...

Core Insights - Matterport, Inc. reported a quarterly loss of $0.02 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.01, marking an earnings surprise of -100% [1] - The company generated revenues of $43.82 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 2.52% and showing an increase from $39.55 million year-over-year [2] - Matterport's stock has increased by approximately 13.9% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is breakeven on revenues of $43.39 million, while for the current fiscal year, it is $0.02 on revenues of $183.4 million [7] - The estimate revisions trend for Matterport is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Context - The Technology Services industry, to which Matterport belongs, is currently ranked in the top 28% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8] - Another company in the same industry, Viant Technology, is expected to report quarterly earnings of $0.23 per share, reflecting a year-over-year increase of 64.3% [9]

Financial Performance - Total revenue increased by $12.0 million, or 8%, to $169.7 million for the year ended December 31, 2024, from $157.7 million for the year ended December 31, 2023[324]. - Subscription revenue grew by $12.2 million, or 14%, to $99.6 million in 2024, compared to $87.3 million in 2023[324]. - Services revenue increased by $3.6 million, or 10%, to $41.3 million in 2024, up from $37.6 million in 2023[324]. - Product revenue decreased by $3.9 million, or 12%, to $28.8 million in 2024, down from $32.8 million in 2023[324]. - Gross profit rose by $12.4 million, or 18%, to $82.9 million in 2024, with a gross margin of 49% compared to 45% in 2023[324]. - Loss from operations widened by $59.6 million, or 28%, to $273.9 million in 2024, compared to a loss of $214.2 million in 2023[324]. - Net loss for 2024 was $256.6 million, an increase of $57.5 million, or 29%, from a net loss of $199.1 million in 2023[324]. - Total revenue for 2024 increased to $169.699 million, up 7.3% from $157.748 million in 2023[408]. - Subscription revenue rose to $99.590 million, a 14.3% increase from $87.348 million in 2023[408]. - The net loss for the year ended December 31, 2024, was $256.6 million, compared to a net loss of $199.1 million in 2023, reflecting an increase of 29%[416]. Revenue Composition - Subscription revenue accounted for approximately 59%, 55%, and 54% of total revenue for the years ended December 31, 2024, 2023, and 2022, respectively[274]. - Services revenue represented approximately 24%, 24%, and 20% of total revenue for the years ended December 31, 2024, 2023, and 2022, respectively[276]. - Product revenue accounted for approximately 26% of total revenue in 2022, 21% in 2023, and 17% in 2024, indicating a declining trend in product revenue contribution[281]. Market and Growth Potential - The company estimates its total addressable market to exceed $240 billion, with potential expansion beyond $1 trillion as digitization efforts grow[258][259]. - The company estimates a market opportunity exceeding $240 billion in property digitization and datafication, with potential growth to over $1 trillion as the spatial data library expands[291]. - Subscribers outside the United States accounted for approximately 43% of subscription revenues for the year ended December 31, 2024, highlighting the company's international market penetration[299]. Operational Changes and Strategy - The 2023 restructuring plan resulted in a workforce reduction of approximately 30% and was completed by December 31, 2023, with total restructuring charges of $4.296 million in 2023[268][269]. - The company is focused on scaling execution across various growth vectors, including international expansion and increased R&D investment[260]. - The company aims to enhance sales efficiency and recurring revenue growth from large enterprises while serving customers of all sizes[272]. - The company is focused on expanding its AI-powered spatial data platform globally, with significant partnerships established in Latin America and the Middle East[299]. - The company aims to deepen market penetration by leveraging its comprehensive solutions across various industries, including real estate, facilities management, and travel[298]. Cash Flow and Financial Position - Free cash flow improved to $(30.9) million for the year ended December 31, 2024, compared to $(68.6) million in 2023[347]. - Total cash, cash equivalents, and investments decreased from $423.0 million in 2023 to $304.2 million in 2024, a decline of approximately 28.1%[349]. - Net cash used in operating activities improved from $58.7 million in 2023 to $21.3 million in 2024, a reduction of approximately 63.7%[354][355]. - Net cash provided by investing activities increased significantly from $19.5 million in 2023 to $89.8 million in 2024, an increase of approximately 359.5%[356][357]. - Cash provided by financing activities decreased from $4.8 million in 2023 to $2.6 million in 2024, a decline of approximately 45.8%[358][359]. - The company reported a significant increase in cash, cash equivalents, and restricted cash at the end of the period, totaling $153.6 million, up from $82.9 million in 2023[416]. Merger and Acquisition Activity - Matterport entered into a merger agreement with CoStar Group, with each Matterport share to be converted into $2.75 in cash plus shares of CoStar Group common stock[261][262]. - The merger is expected to be completed in the first quarter of 2025, pending regulatory approvals and other closing conditions[264]. - Transaction costs related to the CoStar Group Merger were approximately $15.9 million for the year ended December 31, 2024, primarily included in selling, general, and administrative expenses[428]. Risks and Challenges - Macroeconomic and geopolitical conditions, including inflation and supply chain challenges, are impacting demand for Matterport's products[267]. - The company is subject to market risk primarily related to potential losses from adverse changes in foreign currency exchange rates[384]. - The strengthening of the U.S. dollar may decrease revenue, particularly for prices fixed in foreign currencies[385]. - The company has not engaged in any hedging strategies to manage foreign currency risk[385]. - Inflation has not had a material effect on the company's business or financial condition[386]. - A material weakness in internal control over financial reporting was identified as of December 31, 2024[392]. Research and Development - Research and development expenses decreased by $6.4 million, or 9%, to $60.9 million for the year ended December 31, 2024, primarily due to a decrease in salary and stock-based compensation expenses[335]. - The company plans to focus on in-house innovation while considering opportunistic acquisitions to enhance platform functionality[301].

Financial Performance - Total subscription revenue for 2024 was $99.6 million, representing a 14% increase from the prior year[5] - Q4 total revenue reached $43.8 million, with a non-GAAP net loss per share of $0.02, a 50% improvement year-over-year[8] - FY2024 total revenue was $169.7 million, an 8% increase from the prior year[8] - Annualized recurring revenue (ARR) grew to $104.2 million in Q4[7] - FY2024 net loss per share improved to $0.80, a 73% improvement year-over-year[8] - Net loss for the year ended December 31, 2024, was $256,621 thousand, compared to a net loss of $199,077 thousand in 2023, representing a 29% increase in losses[25] - Non-GAAP net loss for the year ended December 31, 2024, was $18,037 thousand, compared to $65,767 thousand in 2023, indicating a significant reduction in losses[27] Subscriber Growth - Total subscribers increased to 1.2 million, up 23% year-over-year[8] Assets and Liabilities - Total assets decreased from $577,155 thousand in 2023 to $543,668 thousand in 2024, a decline of approximately 5.8%[23] - Current liabilities increased significantly from $44,234 thousand in 2023 to $143,728 thousand in 2024, an increase of approximately 224%[23] - The company reported a total stockholders' equity of $397,143 thousand in 2024, down from $529,284 thousand in 2023, a decrease of approximately 25%[23] - The company’s total current assets decreased from $422,841 thousand in 2023 to $370,409 thousand in 2024, a decline of approximately 12.4%[23] Cash Flow - Cash, cash equivalents, and restricted cash at the end of the period increased to $153,558 thousand in 2024 from $82,902 thousand in 2023, a growth of approximately 85%[25] - The company had a net cash used in operating activities of $21,313 thousand in 2024, an improvement from $58,713 thousand in 2023[25] Stock and Compensation - Stock-based compensation expense for the year was $125,071 thousand in 2024, slightly down from $127,755 thousand in 2023[27] - The company reported a weighted-average shares used to compute net loss per share of 319,015 in 2024, compared to 300,697 in 2023, reflecting an increase in shares outstanding[27] Product Development - The company launched the 2025 Winter Release, introducing advanced automation and AI-driven capabilities[4] Acquisition - Matterport is in the process of being acquired by CoStar Group, with the transaction expected to close in Q1 2025[10] Digitization - Total square feet digitized and managed reached 50.7 billion, up 33% year-over-year[3]

Core Insights - Matterport, Inc. reported strong financial results for Q4 and full year 2024, achieving significant growth in digitized square footage and annual recurring revenue [2][4] - The company reached a milestone of 50.7 billion square feet digitized, representing a 33% increase year-over-year, with annual recurring revenue hitting a record $104.2 million [2][7] - The launch of the 2025 Winter Release introduced advanced automation and AI-driven capabilities, enhancing property marketing workflows [3][7] Financial Highlights - Total revenue for FY2024 was $169.7 million, an 8% increase from the previous year, with Q4 total revenue reaching $43.8 million [4][8] - Subscription revenue for FY2024 was $99.6 million, up 14% year-over-year, with total subscribers growing to 1.2 million, a 23% increase [7][8] - Non-GAAP net loss per share improved by 50% year-over-year to $0.02 in Q4, while the FY2024 net loss per share was $0.80, a 73% improvement from the prior year [4][8] Recent Business Developments - The Matterport Marketing Cloud was launched, providing a comprehensive platform for property marketing, integrating various media creation and analytics tools [3][7] - New features such as Model Merge and tag management were introduced to enhance efficiency for users managing complex projects [3][7] - The pending acquisition by CoStar Group, Inc. is expected to close in Q1 2025, with the company suspending financial guidance during this transition [10]

Core Insights - Matterport, Inc. is launching its 2025 Winter Release, which includes AI-driven automation and workflow-enhancing tools aimed at transforming property marketing and management [1][3] - The new features are designed to improve productivity for real estate professionals, enabling them to work smarter and achieve better business results [2] Product Features - The Matterport Marketing Cloud allows real estate agents to receive a complete digital marketing package within approximately 1 to 2 business days, including a 3D virtual tour, high-resolution images, and AI-generated property descriptions [4] - Enhanced tagging tools enable users to copy annotations between digital twins and add field tags in real time, streamlining documentation and reducing the need for extra site visits [4] - The new Merge functionality allows multiple users to scan a property simultaneously, combining up to 2,000 scan points into a single digital twin, significantly reducing turnaround time for large or complex properties [10] User Experience Enhancements - The defurnish tool allows home sellers and agents to remove clutter and personal items from a space with a single click, enhancing the presentation of properties [10] - Users will soon be able to create highlight reels showcasing both furnished and defurnished views, providing a more versatile marketing approach [10]

Core Insights - Matterport, Inc. has launched the Matterport Marketing Cloud, an all-in-one platform designed to streamline real estate marketing for agents and property marketers [1][2][4] - The platform integrates media creation, editing, distribution, and analytics, allowing agents to publish listings quickly and efficiently [2][3] - Matterport Marketing Cloud aims to enhance agent productivity and competitiveness in the real estate market by providing advanced marketing tools [4][6] Product Features - The Matterport Marketing Cloud offers a Digital Pro package that delivers a complete marketing package within 1 to 2 business days in major metropolitan areas [3] - Key features of the package include 3D virtual tours, high-resolution photos, polished videos, AI-generated property descriptions, and detailed floor plans [5] - The platform includes a defurnish tool that allows agents to present properties in a clutter-free manner, enhancing visual appeal [3][5] Market Positioning - The introduction of Matterport Marketing Cloud is part of the company's 2025 Winter Release, which includes new tools for various stakeholders in the real estate industry [6] - The platform is designed to help agents stand out in a competitive market by increasing engagement and conversion rates for listings that utilize Matterport 3D tours [4][6] - Matterport's technology is positioned as an "easy button" for real estate marketing, enabling agents to focus on business growth rather than manual tasks [6] Company Overview - Matterport, Inc. is a leader in digital twin technology and spatial data capture, transforming buildings into data to enhance their value and accessibility [8] - The company has created millions of digital twins across over 177 countries, impacting various stages of the building lifecycle from planning to marketing [8]

Core Insights - Matterport, Inc. has been recognized as one of HousingWire's 2025 Tech100 Real Estate honorees, showcasing its commitment to innovation in the real estate industry [1][2] - The Tech100 awards program highlights organizations that are reshaping real estate operations, marketing, and client services, serving as a key resource for housing professionals [2][3] Company Innovations - Matterport is transforming the real estate sector by utilizing advanced digital twin technology to create interactive 3D models of real-world spaces, enhancing the buying, selling, and management processes [3][4] - The introduction of Property Intelligence, an AI feature included with every digital twin, provides critical data points like square footage and room dimensions rapidly, streamlining real estate transactions [3][4] - Recent advancements include features such as defurnish for digital decluttering, auto-measurements, property layouts, and AI-generated property descriptions, which are revolutionizing property marketing [4][6] Industry Impact - Matterport's technology enhances transparency, efficiency, and confidence throughout the property lifecycle, indicating a significant shift in how real estate professionals operate [4][6] - The company's spatial data platform is transforming millions of buildings into digital twins across over 177 countries, improving various aspects of the building lifecycle from planning to marketing [6]

Core Insights - Matterport, Inc. is sponsoring the 2025 Digital Twin Awards (DTAs), celebrating creativity and innovation in digital twin technology [1] - The DTAs provide a global platform for showcasing impactful Matterport digital twin projects from over 170 countries [2] - The awards aim to inspire future innovations in digital transformation and highlight the contributions of the global community [3] Award Details - The 2025 DTAs will accept submissions until February 28, 2025, with winners announced on April 4, 2025 [3] - Categories include Best Digital Twin of 2024, Best Digital Twin for Arts & Culture, Best Digital Twin for Education, Best Digital Twin for Real Estate, Most Unique Use of Matterport, Best Digital Twin for Historical Preservation, and a new category for Best Non Pro Series Device Scan [7] - Prizes for winners include Matterport hardware, accessories, and subscriptions, with a total prize pool of $28,000 USD [3] Company Overview - Matterport, Inc. is a leader in digital transformation of the built world, turning buildings into data to enhance their value and accessibility [5] - The company has transformed millions of buildings into immersive digital twins across more than 177 countries, improving various aspects of the building lifecycle [5]

Group 1 - Matterport's Chairman and CEO, RJ Pittman, has been recognized as one of the most innovative and influential leaders in the real estate industry for the third consecutive year by the Inman Power Players awards [1][2] - The Inman Power Players awards highlight executives who are driving growth and innovation in the real estate sector, including advancements in residential markets and proptech [2] - Under Pittman's leadership, Matterport has transformed property transactions through its digital twin technology, which creates interactive 3D models of real-world spaces [3] Group 2 - The introduction of Property Intelligence, powered by advanced AI, allows users to access critical data points such as square footage and room dimensions, enhancing transparency in the property lifecycle [3] - Recent advancements, including the 2024 Winter and Fall Releases, feature tools like defurnish, auto-measurements, and AI-driven property descriptions, further establishing Matterport as a leader in real estate innovation [4] - Matterport's spatial data platform has transformed millions of buildings in over 177 countries into digital twins, improving various aspects of the building lifecycle from planning to marketing [6]