Total revenue grew to $42.2 million during the second quarter of 2024, up from $39.6 million the previous year, as the company worked to increase its market share.
Matterport appeals lower court ruling that awarded $79 million to former CEO Bill Brown over rules that prevented him from selling his shares when the company went public.
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William Brown, who served as CEO of the company through 2018, is entitled to damages after Matterport prevented him from selling all of his shares when the company went public in 2021.
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The company's net loss was 36 percent less than in 2023, according to Matterport's earnings from the quarter. Revenue rose 5 percent for the quarter.
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The company said it expects to grow total revenue 19 percent to 22 percent this year as it continues its expansion as an industry leader.
Matterport posted second-quarter revenues of $39.6 million — a 39 percent increase from the same period a year earlier that squeaked past analyst estimates of $39.2 million, according to a Tuesday earnings call.
When it comes to effectively marketing one's personal brand, there are a number tools and tactics that might cost time, money, energy or repeat business, and therefore, it's imperative to parse through what's worth the investment and what's not.
Disruptive sales models, lead aggregators and search products have transformed proptech into a true marketplace while freeing venture capitalists up to become more than mere power brokers.
Matterport earned $136.1 million in 2022, which wasn't enough to offset $26.5 million in losses for the final three months of 2022 and $116.6 million for the year, according to the company's latest earnings release on Wednesday. That was more than double the $46.9 million in losses Matterport reported in 2021.