Jane's GHVI up 6% to $15 Stoney.
The MatterHorn!
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Q1 Financial and Operational Highlights:
Total revenue was $26.9 million, up 108% year over year
Subscriber revenue of $13.8 million, up 84% year over year
Annual Recurring Revenue (ARR) of $55.2 million
Spaces Under Management (SUM) grew to 4.9 million, up 88% from a year ago, surpassing 5 million in April
Subscribers increased to 331,000, up 531% year over year
Broadened market reach with the release of Matterport Capture app on Android
Added
LiDAR Support to Matterport for iPhone to capitalize on Apple's new depth sensor and increase the fidelity and accuracy of Matterport digital twins
Increased the capabilities of Capture Services™, our online services platform that delivers a convenient turnkey solution for enterprises seeking to rapidly scale the digitization of their global real estate assets
Expanded into South Africa and the Middle East by establishing relationships with key value added resellers
Invested for growth by increasing total headcount by more than 20% from a year ago. Recent key leadership hires include VP of Solutions Engineering, VP of Customer Operations, VP of Investor Relations, and VP of International Marketing.
In February, announced a definitive agreement to enter into a business combination with Gores Holdings VI (NASDAQ: GHVI, GHVIU, and GHVIW) and in April, Gores Holdings VI filed a Registration Statement on Form S-4 relating to the transaction
"We are pleased to report another record quarter, with revenue more than doubling from the same period a year ago. As demand to digitize the built world continues to rise, our subscriber base has increased exponentially, bolstered by big advances across our iPhone, Android, and Enterprise platform and service offerings," said RJ Pittman, Chief Executive Officer of Matterport. "This quarter once again reflects our enduring, strong execution – across product innovation, expanding service offerings, extended global reach, and most importantly, adding to our world-class talent base. We have also made excellent progress on our proposed merger with Gores Holdings VI, and the closing is on track for early in the third quarter. This transaction enables Matterport to more aggressively achieve significant global scale as a public company. Matterport has been digitizing the built world for a decade and we are very well positioned to capitalize on this enormous opportunity in front of us," Pittman added.