Matterport reports Q3 EPS (9c), consensus (13c)

Reports Q3 revenue $37.99M, consensus $35.94M. Total subscribers increased to 657,000, up 50% compared to the third quarter of 2021. "We delivered outstanding third quarter results, with record total revenue, demonstrating that our strategy is working," said RJ Pittman, chairman and CEO of Matterport. "We successfully launched our new Enterprise Essentials subscription suite as well as our new, high speed, LiDAR-enabled, Pro3 camera, which began shipping in the third quarter. We also completed the acquisition of VHT Studios, which brings together an industry-leading real estate marketing platform with Matterport’s immersive digital twin technologies. Further, customer demand remained robust in the quarter as enterprises leveraged the deflationary power of Matterport digital twins to improve operating efficiency and productivity, resulting in strong revenue growth across our target markets," Pittman added.