Matterport (MTTR) Q4 2024 earnings summary

Executive summary

• Achieved record full year total revenue of $169.7 million, up 8% year-over-year.

• Subscription revenue reached $99.6 million, up 14% year-over-year.

• Total subscribers grew 23% to 1.2 million; square feet under management rose 33% to 50.7 billion.

• Launched 2025 Winter Release and Matterport Marketing Cloud, introducing advanced AI and automation features.

• Pending acquisition by CoStar Group, Inc., expected to close in Q1 2025.

Financial highlights

• Q4 total revenue was $43.8 million; Q4 annualized recurring revenue reached $104.2 million.

• Q4 net loss per share was $0.12 (GAAP) and $0.02 (Non-GAAP), a 50% year-over-year improvement.

• FY2024 net loss per share was $0.80 (GAAP) and $0.06 (Non-GAAP), a 73% year-over-year improvement.

• Gross profit for FY2024 was $82.9 million, up from $70.5 million in FY2023.

• Cash, cash equivalents, and restricted cash at year-end totaled $153.6 million.

Outlook and guidance

• No financial guidance provided for the upcoming quarter due to the pending CoStar acquisition.