Matterport(MTTR)

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Matterport(MTTR) - 2022 Q1 - Earnings Call Presentation
2022-05-10 20:53
| Matterport, 1 May 10, 2022 | First Quarter 2022 Earnings Disclaimers 2 Forward Looking Statements This presentation contains certain forward-looking statements within the meaning of federal securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "forecast," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions ...
Matterport(MTTR) - 2021 Q4 - Annual Report
2022-03-17 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ____________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number 001-39790 ____________________________ MATTERPORT, INC. (Exact n ...
Matterport(MTTR) - 2021 Q4 - Earnings Call Transcript
2022-02-17 00:44
Matterport, Inc. (NASDAQ:MTTR) Q4 2021 Earnings Conference Call February 16, 2022 5:00 PM ET Company Participants Soohwan Kim - Vice President, Investor Relations RJ Pittman - Chairman & Chief Executive Officer JD Fay - Chief Financial Officer. Conference Call Participants Bhavin Shah - Deutsche Bank Yun Kim - Loop Capital Market Brent Bracelin - Piper Sandler John Walsh - Credit Suisse Sophie Lee - Berenberg Capital Operator Thank you for standing by and welcome to the Matterport Inc. Fiscal Year 2022 Four ...
Matterport(MTTR) - 2021 Q4 - Earnings Call Presentation
2022-02-16 21:35
Matterport. 1 February 16, 2022 | Fourth Quarter 2021 Earnings Forward-Looking Statements 2 This presentation contains certain forward-looking statements within the meaning of federal securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "forecast," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions (includ ...
Matterport(MTTR) - 2021 Q3 - Quarterly Report
2021-11-09 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-Q ____________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission file number 001-39790 ________________ ...
Matterport(MTTR) - 2021 Q3 - Earnings Call Presentation
2021-11-04 09:17
Matterport." 1 November 3, 2021 | Third Quarter 2021 Earnings Forward-Looking Statements 2 This presentation contains certain forward-looking statements within the meaning of federal securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "forecast," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions (includi ...
Matterport(MTTR) - 2021 Q3 - Earnings Call Transcript
2021-11-04 02:58
Matterport, Inc. (NASDAQ:MTTR) Q3 2021 Earnings Conference Call November 3, 2021 4:30 PM ET Company Participants Soohwan Kim - VP, IR Raymond Pittman - President, Chairman & CEO James Fay - CFO, Interim CAO & Secretary Conference Call Participants Daniel Ives - Wedbush Securities John Walsh - Cr??dit Suisse Brent Bracelin - Piper Sandler & Co. Yun Kim - Loop Capital Markets Sophie Lee - Berenberg Operator Thank you for standing by, and welcome to the Matterport Inc. Fiscal 2021 Q3 Earnings Conference Call. ...
Matterport(MTTR) - 2021 Q2 - Quarterly Report
2021-08-15 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39790 MATTERPORT, INC. (Exact name of registrant as specified in its Charter) Delaware 85-1695048 (State or ot ...
Matterport(MTTR) - 2021 Q1 - Quarterly Report
2021-05-26 16:00
[PART I—FINANCIAL INFORMATION](index=3&type=section&id=PART%20I%E2%80%94FINANCIAL%20INFORMATION) [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) For Q1 2021, the company reported a $30.0 million net loss, mainly from warrant liability changes, with $346.0 million in assets and a $59.2 million stockholders' deficit [Balance Sheet](index=3&type=section&id=Balance%20Sheet) As of March 31, 2021, total assets were $346.0 million, primarily in the Trust Account, with liabilities increasing to $60.2 million and a stockholders' deficit of $59.2 million Balance Sheet Summary (Unaudited) | Metric | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $176,595 | $633,266 | | Investments and cash held in Trust Account | $345,022,332 | $345,008,625 | | Total assets | $346,034,908 | $346,565,918 | | **Liabilities & Equity** | | | | Total current liabilities | $48,141,857 | $18,690,703 | | Public & Private warrants derivative liability | $44,832,500 | $18,160,000 | | Total liabilities | $60,216,857 | $30,765,703 | | Class A Common Stock subject to possible redemption | $345,000,000 | $345,000,000 | | Total stockholders' equity (deficit) | ($59,181,949) | ($29,199,785) | [Statement of Operations](index=4&type=section&id=Statement%20of%20Operations) The company reported a net loss of $29.97 million for the three months ended March 31, 2021, primarily due to a $26.67 million non-cash warrant liability charge, resulting in a ($0.70) net loss per share Statement of Operations Highlights (Unaudited) | Metric | Three Months Ended March 31, 2021 | | :--- | :--- | | Change in fair value of warrant liability | ($26,672,500) | | Professional fees and other expenses | ($3,238,968) | | Net loss from operations | ($29,961,468) | | **Net loss attributable to common shares** | **($29,974,034)** | | Net loss per share (Class A & F) | ($0.70) | [Statement of Changes in Stockholders' Equity (Deficit)](index=5&type=section&id=Statement%20of%20Changes%20in%20Stockholders%27%20Equity%20%28Deficit%29) The stockholders' deficit increased by $30.0 million to $59.2 million as of March 31, 2021, primarily due to the net loss for the quarter - The total stockholders' deficit increased by approximately **$30.0 million** during the quarter, from **($29,199,785)** on January 1, 2021, to **($59,181,949)** on March 31, 2021, primarily due to the net loss recorded in the period[15](index=15&type=chunk) [Statement of Cash Flows](index=6&type=section&id=Statement%20of%20Cash%20Flows) Net cash used in operating activities was $1.0 million for the three months ended March 31, 2021, with overall cash decreasing by $456,671 to $176,595 Cash Flow Summary (Unaudited) | Metric | Three Months Ended March 31, 2021 | | :--- | :--- | | Net cash used in operating activities | ($1,034,834) | | Net cash used in investing activities | ($13,707) | | Net cash provided by financing activities | $591,870 | | **Increase (Decrease) in cash** | **($456,671)** | | Cash at end of period | $176,595 | [Notes to Interim Financial Statements](index=7&type=section&id=Notes%20to%20Interim%20Financial%20Statements) Notes detail the company's SPAC formation, proposed $2.19 billion Matterport merger, key accounting policies for warrants and redeemable stock, and the 24-month business combination deadline - On February 7, 2021, the company entered into a merger agreement with Matterport, Inc. with the aggregate merger consideration valued at **$2,188,750,000**, payable in shares of the company's Class A common stock[22](index=22&type=chunk)[25](index=25&type=chunk) - In connection with the Matterport merger, the company entered into subscription agreements for a private placement (PIPE) of **29,500,000 shares** of Class A common stock at **$10.00 per share**[30](index=30&type=chunk) - The company accounts for its public and private warrants as liabilities at fair value, with changes in fair value recognized in the statement of operations, significantly affecting reported earnings[61](index=61&type=chunk)[62](index=62&type=chunk) - The company has **24 months** from its IPO closing date (December 15, 2020) to complete a business combination, or it will be required to liquidate and return funds held in the Trust Account to public stockholders[41](index=41&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's blank check status, the proposed Matterport merger, the $30.0 million net loss primarily from warrant liability, liquidity sources, and a related stockholder lawsuit - The company is a blank check company formed to effect a business combination and on February 7, 2021, entered into a merger agreement with Matterport[105](index=105&type=chunk)[106](index=106&type=chunk) - For the three months ended March 31, 2021, the company had a net loss of **($29,974,034)**, of which **($26,672,500)** was a non-cash loss from the change in fair value of the warrant liability[118](index=118&type=chunk) - As of March 31, 2021, the company had **$176,595** in cash held outside the Trust Account for working capital, supplemented by a Sponsor loan facility of up to **$2,000,000**, with **$600,000** advanced as of the quarter's end[124](index=124&type=chunk)[125](index=125&type=chunk) - The company and its board were named as defendants in a stockholder lawsuit related to alleged misstatements and omissions in the Form S-4 registration statement for the proposed Matterport transaction[117](index=117&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=23&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's minimal market risk primarily stems from interest rate fluctuations on the $345.0 million Trust Account investments, yielding approximately 0.0015% annualized - The company's primary market risk is interest rate fluctuations on the **$345,022,332** held in the Trust Account, which is invested in money market funds[132](index=132&type=chunk) - As of March 31, 2021, the effective annualized rate of return on the Trust Account investments was approximately **0.0015%**[132](index=132&type=chunk) [Controls and Procedures](index=24&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were ineffective as of March 31, 2021, due to a material weakness in internal control over financial reporting related to warrant accounting, necessitating financial statement restatement - Following a re-evaluation in light of the SEC Staff Statement on April 12, 2021, management concluded that disclosure controls and procedures were not effective as of March 31, 2021[135](index=135&type=chunk) - A material weakness was identified in internal control over financial reporting due to an insufficient risk assessment of the accounting for warrants, which resulted in the need to restate financial statements[135](index=135&type=chunk)[136](index=136&type=chunk) [PART II—OTHER INFORMATION](index=25&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) [Legal Proceedings](index=25&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings under this item, with a stockholder action noted in Part I, Item 2 - The company reported no legal proceedings for the period[139](index=139&type=chunk) [Risk Factors](index=25&type=section&id=Item%201A.%20Risk%20Factors) No material changes to previously disclosed risk factors have occurred as of the report date - As of the date of this report, there have been no material changes to the risk factors disclosed in previous SEC filings[141](index=141&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=25&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details unregistered sales of Founder Shares and private placement warrants, and confirms $345.0 million of public offering proceeds were placed in the Trust Account - The Sponsor purchased **8,625,000 shares** of Class F Common Stock (Founder Shares) for **$25,000**[142](index=142&type=chunk) - The company completed a private sale of **4,450,000 Private Placement Warrants** to the Sponsor at **$2.00 per warrant**, generating **$8,900,000**[143](index=143&type=chunk) - From the Public Offering and Private Placement Warrants, total net proceeds were **$346,055,000**, of which **$345,000,000** was placed in the Trust Account[147](index=147&type=chunk) [Defaults Upon Senior Securities](index=26&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reports no defaults upon senior securities - None[151](index=151&type=chunk) [Mine Safety Disclosures](index=26&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not Applicable[151](index=151&type=chunk) [Other Information](index=26&type=section&id=Item%205.%20Other%20Information) The company reports no other information - None[152](index=152&type=chunk) [Exhibits](index=27&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the quarterly report, including the Matterport Merger Agreement and various corporate and financing documents - Key exhibits filed include the Merger Agreement with Matterport, Inc. and various corporate governance and financing documents[155](index=155&type=chunk)
Matterport(MTTR) - 2020 Q4 - Annual Report
2021-03-11 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 001-39790 GORES HOLDINGS VI, INC. (Exact name of registrant as specified in its Charter) | Delaware | | --- | (State or other jurisdicti ...