Matterport, Inc/de 8-K filings
Current reports — the filing a company makes when something happens that shareholders need to know about before the next quarterly report.
CoStar Group successfully acquired Matterport, combining their expertise to advance AI-driven digital twin technology in the global real estate market.
Matterport reports a 33% increase in square feet under management and a 14% rise in total subscription revenue year-over-year, while awaiting acquisition by CoStar Group.
Matterport reported record third-quarter revenue of $43.8 million, an 8% increase year-over-year, alongside significant growth in subscribers and managed square footage.
Matterport reported a 16% year-over-year increase in annualized recurring revenue to a record $96.6 million and a 71% improvement in non-GAAP net loss per share for the second quarter of 2024.
Matterport stockholders have approved the merger agreement with CoStar Group at a special meeting held on July 26, 2024.
The proposed merger between Matterport and CoStar Group has been delayed due to a second request for information from the Federal Trade Commission (FTC).
Matterport's 2024 Annual Meeting saw the election of a Class III director, ratification of the company's auditor, and approval of executive compensation, but a proposed amendment to the corporate charter was not approved.
Matterport has been ordered to pay $79 million plus interest to a former shareholder due to a share restriction dispute, but the company plans to appeal the ruling.
Matterport's Q1 2024 results show significant improvements in key metrics, including a 21% increase in subscription revenue and an 86% improvement in non-GAAP net loss per share, alongside the announcement of its acquisition by CoStar Group.
CoStar Group will acquire Matterport for $5.50 per share in a cash and stock transaction, aiming to enhance real estate marketing and management through advanced 3D digital twin technology.
Matterport has amended its corporate charter regarding corporate opportunities to resolve a shareholder lawsuit, agreeing to pay $90,000 in fees.
Matterport announces it has surpassed one million subscribers, marking a significant milestone in its digital twin platform growth.
Matterport's Q4 2023 results show a 23% year-over-year increase in annualized recurring revenue, reaching $94.7 million, and a reaffirmed target for profitability in 2024.