Why Matterport Stock Was Falling Today
Shares of Matterport (NASDAQ: MTTR) were heading lower today as the real estate technology company offered disappointing guidance in its fourth-quarter earnings report.
As of 2:45 p.m. EST, the stock was down 7%.
Matterport, which is known for 3D building renderings used in real estate transactions and architecture, said that revenue jumped 52% to $41.1 million, though much of that growth came from its product segment, which actually has negative gross margins, showing it's selling its hardware below cost to grow subscriptions. That revenue figure still beat the consensus at $39.7 million.
Source Fool.com
