Matterport, Inc. (MTTR) Reports Q2 Loss, Lags Revenue Estimates

Core Insights - Matterport, Inc. reported a quarterly loss of $0.02 per share, aligning with the Zacks Consensus Estimate, and an improvement from a loss of $0.07 per share a year ago [1] - The company posted revenues of $42.22 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 4%, but showing growth from $39.57 million year-over-year [2] - Matterport shares have increased approximately 49.8% year-to-date, significantly outperforming the S&P 500's gain of 8.7% [3] Financial Performance - The company has surpassed consensus EPS estimates two times over the last four quarters [1] - Matterport has topped consensus revenue estimates only once in the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is -$0.01 on revenues of $46.33 million, and for the current fiscal year, it is -$0.06 on revenues of $176.04 million [7] Market Outlook - The sustainability of Matterport's stock price movement will largely depend on management's commentary during the earnings call [3] - The estimate revisions trend for Matterport is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] - The Technology Services industry, to which Matterport belongs, is currently in the top 40% of Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8]