3 Key Things From Matterport's Earnings Call Investors Should Know
Matterport (NASDAQ: MTTR) stock plunged 17.4% on Thursday, Feb. 17, following the spacial-data company's release of its fourth-quarter and full-year 2021 results on the prior afternoon.
Investors' displeasure was largely attributable to guidance for the first quarter and full year 2022 falling considerably short of the Wall Street consensus estimate for both revenue and earnings. The fourth-quarter bottom line coming in slightly weaker than analysts had expected also likely weighed on the stock.
In the fourth quarter, Matterport's revenue grew 15% year over year to $27.1 million, which was in line with the Street's expectation. Growth was driven by a 32% jump in subscription revenue to $16.5 million. Adjusted net loss was $0.10 per share, a tenfold widening from the year-ago period. This loss was driven by the company's scaling up of its operations following it going public last July via a special purpose acquisition company (SPAC). Measures management took to mitigate the impact to revenue from global supply chain bottlenecks also contributed to the loss.
Source Fool.com
