Matterport, Inc. (MTTR): history, ownership, mission, how it works & makes money

A Brief History of Matterport, Inc. (MTTR)

Founding and Early Development

Founded in 2011 by Matt Bell, Ben Johnson, and Dave Gibbons, Matterport initially sought to create a new way to capture and visualize spaces using 3D technology. Early in its development, the company introduced its first 3D camera, the Matterport Pro 3D Camera, in 2014.

Funding and Growth

From its inception, Matterport has attracted significant venture capital funding, totaling over $100 million by 2019. Notable investors include Greylock Partners, SoftBank, and Draper Associates.

Technological Advancements

In 2017, Matterport launched the Matterport Cloud, a platform that allows users to upload and share 3D scans. This was followed by the introduction of the Matterport Capture app, enabling mobile users to create 3D models using smartphones and tablets.

Market Expansion

By 2020, Matterport had expanded its presence within various industries including real estate, hospitality, and architecture. The demand for virtual tours surged, particularly during the COVID-19 pandemic, resulting in a dramatic increase in user engagement.

Public Offering

Matterport went public on July 23, 2021, through a merger with a special purpose acquisition company (SPAC), Gores Metropoulos II, Inc.. The transaction valued Matterport at approximately $1.3 billion.

Financial Performance

In 2021, Matterport reported revenues of approximately $49 million, representing a year-over-year increase of 22%. By Q2 2022, the company's revenue reached around $27 million, reflecting the ongoing growth trajectory.

Future Prospects

As of 2023, Matterport continues to innovate and expand its technological offerings, including enhanced AI-driven features and additional industry-specific tools. The company aims to scale its market reach and improve its financial performance while solidifying its position as a leader in spatial data technology.

Current Market Position

The stock price of Matterport (MTTR) fluctuated around $3.50 per share in October 2023, with a market capitalization of approximately $1 billion.

A Who Owns Matterport, Inc. (MTTR)

Overview of Matterport, Inc.

Founded in 2011, Matterport, Inc. is a technology company specializing in 3D spatial data and virtual reality. As of October 2023, it is publicly traded on the NASDAQ under the ticker symbol MTTR.

Shareholder Structure

The ownership of Matterport is distributed among various institutional investors, individual shareholders, and company founders. The following table details the major shareholders as of the latest available data in October 2023.

Market Capitalization

As of October 2023, Matterport, Inc. has a market capitalization of approximately $1.2 billion.

Financial Performance

For the financial year ending December 2022, Matterport reported revenues of $109 million with a net loss of $51 million. The revenue growth year-over-year was 27%.

Stock Performance History

MTTR's stock performance has seen considerable volatility since its IPO, which took place on July 23, 2021. The following table presents the significant stock price metrics.

Future Ownership Trends

With the increasing adoption of 3D technologies across various industries, ownership dynamics are expected to fluctuate. Institutional investors are likely to increase their stakes as the company scales its operations and generates sustained revenues.

Conclusion of Ownership Analysis

Understanding the ownership structure and key financial metrics of Matterport, Inc. provides insight into its market positioning and potential growth trajectory. As institutional investors continue to play a significant role in the company, their strategies and decisions will likely influence future stock performance and governance.

Matterport, Inc. (MTTR) Mission Statement

Overview of Matterport, Inc.

Matterport, Inc. specializes in 3D spatial data and solutions, primarily targeting real estate, architecture, and construction industries. The company aims to transform how spaces are captured and shared digitally.

Mission Statement

As of October 2023, Matterport's mission statement focuses on the goal of "digitizing the physical world and making it accessible and engaging." The company emphasizes innovation, creativity, and a commitment to technology as means to enhance the customer experience.

Financial Performance

In the fiscal year 2022, Matterport reported revenues of $112.0 million, reflecting a significant increase from $95.9 million in 2021. The gross profit for the same period was approximately $85.5 million, indicating a gross margin of around 76.3%.

Key Financial Metrics

Market Position

Matterport holds a significant share in the 3D scanning market, which was valued at $4.95 billion in 2022, projected to reach $17.97 billion by 2030 with a CAGR of 17.8% from 2023 to 2030.

Customer Segments

• Real Estate Professionals
• Architects and Designers
• Construction Firms
• Facility Managers
• Retail and Hospitality Industries

Technological Innovation

Matterport's innovation is evident in its proprietary technology, including the Matterport Pro2 camera, which captures high-resolution 3D images. The company's software platform is designed to provide users with accessible tools for creating and sharing digital twins of physical spaces.

Recent Developments

As of October 2023, Matterport continued to expand its partnerships, including collaborations with industry leaders like Google and Autodesk to enhance integration and functionality in real estate and construction sectors.

Employee Metrics

As of Q3 2023, Matterport employed approximately 400 people, with a significant portion dedicated to research and development, reflecting the company's focus on enhancing its technology and capabilities.

How Matterport, Inc. (MTTR) Works

Business Model

Matterport, Inc. operates on a subscription-based model that allows users to create and manage 3D spaces. The company generates revenue through various channels, including software subscriptions, hardware sales, and service offerings. As of Q3 2023, Matterport reported a total revenue of $40 million.

Subscription Tiers

The company offers several subscription tiers that cater to different customer needs:

Hardware Sales

Matterport also sells its proprietary hardware to facilitate 3D capturing. The most notable product is the Matterport Pro3 Camera, priced at approximately $3,995. In Q3 2023, hardware sales contributed approximately 15% of the total revenue.

Target Markets

Primary target markets for Matterport include:

• Real Estate
• Architecture and Engineering
• Construction
• Travel and Hospitality
• Insurance

Global Reach

As of the end of 2023, Matterport has over 5 million spaces captured across over 150 countries. The company has partnerships with major industry players to expand its footprint.

Financial Performance

In Q3 2023, Matterport reported the following financial performance metrics:

Technological Integration

Matterport leverages advanced technologies such as artificial intelligence and cloud computing for its services. The platform offers machine learning capabilities to enhance the 3D modeling and visualization processes.

Market Competition

Key competitors include companies like:

• Circle Imaging
• Gnarrative
• 3D Vista
• Google Street View

Growth Strategies

Future growth strategies for Matterport include:

• Expanding product offerings
• Enhancing technological capabilities
• Entering new markets
• Strengthening partnerships

Customer Base

Matterport has a diversified customer base that includes:

• Real estate agents
• Architectural firms
• Construction companies
• Tourism boards

Investment and Funding

As of Q3 2023, Matterport raised approximately $160 million in funding since its inception. The company went public through a SPAC merger valued at $2.9 billion in 2021.

How Matterport, Inc. (MTTR) Makes Money

Revenue Streams

Matterport, Inc. generates revenue through several key streams:

• Subscription Services
• Sales of Hardware
• Professional Services
• Marketplace Transactions

Subscription Services

As of Q2 2023, Matterport reported $35.5 million in subscription revenue, which accounted for approximately 70% of its total revenue. The company's subscription plans offer various tiers, including:

Sales of Hardware

In 2022, Matterport's hardware sales amounted to $11.2 million. This includes devices such as the Matterport Pro2 3D camera, which is essential for creating 3D models. The Pro2 camera retails for around $3,500.

Professional Services

Matterport also provides professional services, contributing $4 million in revenue for the fiscal year 2022. Services include:

• 3D scanning services
• Modeling and data analysis
• Custom development solutions

Marketplace Transactions

Through its Marketplace, Matterport facilitates transactions between users, which generated approximately $2 million in revenue for the year ending 2022. This platform allows users to buy and sell virtual tours, 3D models, and other content.

Financial Performance Overview

Matterport's financial performance is reflected in its quarterly earnings:

Market Position and Growth Opportunities

Matterport has positioned itself as a leader in spatial data technology, with a market growth rate estimated at 24.6% CAGR through 2026. The company's focus on expanding its software capabilities and enhancing customer engagement is pivotal for future revenue growth.