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Matterport Announces Record Quarterly Financial Results matterport.com/news/matterport-announces-record-quarterly-financial-results Matterport Reports Revenue of $ 27 Million , an Increase of 108 % Year over Year , While Subscriber Growth Jumps 531 % to 331,000 SUNNYVALE , Calif . Matterport , Inc. , the leading spatial data company driving the digital transformation of the built world , today announced financial results for the quarter ended March 31 , 2021. In February 2021 , Matterport announced that it has entered into a definitive agreement to enter into a business combination with Gores Holdings VI ( NASDAQ : GHVI , GHVIU , and GHVIW ) , a special purpose acquisition company sponsored by an affiliate of The Gores Group , LLC , that will result in Matterport becoming a publicly listed company . Upon closing of the proposed business combination , the combined company will be named " Matterport , Inc. " and intends to remain listed on NASDAQ under the ticker symbol " MTTR . " 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 TM , our online services platform that delivers a convenient turnkey solution for enterprises seeking to rapidly scale then 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 1/5