Matterport(MTTR) - 2024 Q4 - Annual Results

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]