1 Explosive Growth Stock to Buy With Just $5 Before 2022 Ends
Shares of Matterport (NASDAQ: MTTR) have been in the doghouse for almost the entire year, losing 82% of their value and dropping to less than $4 as of this writing. But the spatial data company gave investors a big reason to cheer when it released its third-quarter 2022 results on Nov. 10.
Matterport stock jumped nearly 25% on the day following the earnings release, as its numbers were ahead of expectations. Additionally, the company's guidance points toward a nice acceleration in its growth. Let's see what's working for Matterport, whose solutions allow customers to capture real-world spaces in 3D and create digital twins -- a fast-growing market that's set to explode in the long run.
Matterport's Q3 revenue increased 37% year over year to a record $38 million, driven by healthy growth in the company's subscription and services businesses. Subscription revenue was up 21% year over year to $19 million, while services revenue jumped 204% over the prior-year period to $10 million.
Source Fool.com
