Matterport, Inc. is a software-application company based in Sunnyvale, California. The company specializes in digitization and datafication of the built world. It offers a range of 3D camera solutions and fully managed services for a variety of industries, including residential and commercial real estate, facilities management and retail, AEC, insurance and repair, and travel and hospitality.
Matterport has several flagship products. Its Matterport Capture Services are a fully managed solution for enterprise subscribers. Its Smartphone Capture offers a smartphone capture solution for both iOS and Android. Its Matterport Pro3 is a 3D camera that scans properties, while its Matterport Pro2 is a 3D camera that captures spaces. The company also offers 360 Cameras and Matterport Axis, a motorized mount to capture 3D digital twins of any physical space with increased speed, precision, and consistency.
The company is currently led by Co-Founder and CEO, Bill Brown. Matterport, Inc. employs around 590 people and has its headquarters in Sunnyvale, California. Its website is https://matterport.com.
Matterport Inc. is a 3D media technology company that provides virtual reality experiences for the real estate, hospitality, and retail industries. Over the past year, the company has seen strong growth, reporting an impressive revenue growth rate of 33.30%. As of the latest financial reporting period, the company reported total revenue of 145.61M for the year, which is up from 109.30M reported in the previous year.
Despite posting impressive revenue growth, matterport has seen its gross margins drop from 41.07% to 38.70%. This lack of profitability has also contributed to a negative return-on-assets figure of -22.95%.
Matterport has managed to maintain a healthy balance sheet, with total assets exceeding total liabilities by 34.34M. With respect to total debt, it stands at 1.29M, which is down from 1.48M reported in the previous year. In addition, the company currently holds a quick ratio of 10.34, which is a good indication of its ability to meet short-term financial obligations.
Looking ahead, analysts have attributed mattersport a “hold” recommendation with a price target of 4.60. Considering its current price of 2.83, it presents an opportunity for investors to get into the stock at an attractive price with potential upside.
Matterport has experienced significant success for its products and services during the COVID-19 pandemic, with an increase in demand in the number of users coming to use its platform. Matterport’s success is primarily due to its ability to provide immersive digital experiences to its users, which has been found to be far more effective and efficient for conducting virtual tours and open houses compared to traditional methods that are more time consuming and require added costs.
The company’s use of digital twin technology and 3D camera solutions has provided more opportunities for its customers to capture physical spaces in a virtual environment, allowing them to interact with product features such as floor plans and measurements all while enjoying a more immersive and personalized experience.
Matterport’s platform is also offering numerous features such as improved floor plan accuracy and impact maps detailing the changes from previous tours to help manage costs associated with on-site visits. Additionally, the use of 3D cameras also allows real estate professionals and other professionals to capture and share accurate 3D models of their property without having to conduct in-person site visits. This helps to reduce travel costs and efficiently show and share properties on the platform, making it easier to showcase the product and space to potential buyers.
The company has also been able to weather the coronavirus-induced economic recession due to its low-touch approach to business. This has allowed it to produce innovative solutions for customers while having limited human interaction and associated costs. Furthermore, Matterport’s low-touch approach has enabled it to target potential investors with its technologically advanced and budget-friendly solutions, making it more attractive for potential investors and acquisition targets.
When facing high inflation, Matterport has a few strategies to help weather the economic situation. First, the company will strive to ensure cost-effectiveness in its activities. It will seek to identify and resolve any inefficiencies or waste in its operations, processes, and pricing strategies to ensure its survival. It will also focus on increasing customer satisfaction and value to create customer loyalty and gain market share.
Moreover, the company will look to enhance its products in order to retain repeat customers and increase word-of-mouth referral traffic. This will involve launching better and more comprehensive services, launching marketing campaigns and using social media to engage customers, and improving customer service.
The company will also pursue strategies such as diversifying its product and services offerings. This could involve expanding into new markets and introducing new services and offerings to existing markets, as well as forming partnerships and alliances with other businesses. Additionally, investment in research and development will be a priority, in order to stay ahead of competition and keep up with industry advances.
Finally, Matterport will also focus on enhancing its cash flow and providing additional liquidity. This could involve streamlining the receivables cycle, collecting payments faster, and introducing financing options to customers. The company might also look to secure long-term contracts and expand its credit based on improved financial performance. This could help the company maintain a cash cushion and better manage any inflationary pressure.
In conclusion, Matterport is dedicated to proactively managing the economic environment in order to remain fully viable during times of high inflation. This includes employing cost-effective measures, investing in innovation, and seeking additional sources of liquidity. By following these strategies, the company can ensure its continued success and longevity.
Despite the potential upside, investors should keep in mind that Matterport, Inc. carries a high degree of risk as it is a relatively new company with limited product offerings. Therefore, potential investors should carry out their own research before investing in the company’s stock and exercise caution if they do choose to invest.
