Matterport Announces Fourth Quarter 2024 Financial Results, with Over 50 Billion in Square Feet Under Management, up 33%, and Total Subscription Revenue up 14%, Year-over-Year

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]