Page 1

Matterport Matterport Announces Record Second Quarter 2021 Financial Results August 11 , 2021 • Matterport reports record revenue of $ 30 million , 10 % sequential increase ● Subscription revenue jumps 53 % to $ 15 million from year - ago period Total subscribers increased 158 % to 404,000 from year - ago period SUNNYVALE , Calif . , Aug. 11 , 2021 ( GLOBE NEWSWIRE ) -- Matterport , Inc. ( Nasdaq : MTTR ) , the leading spatial data company driving the digital transformation of the built world , today announced financial results for the quarter ended June 30 , 2021 . " We are thrilled to report another record quarter with strong subscriber and subscription revenue pushing revenue up 10 % sequentially , demonstrating our continued momentum , " said RJ Pittman , Chairman and Chief Executive Officer of Matterport . " It was another quarter of strong execution across all vectors as we announced significant industry partnerships , expanded our service offerings , and strengthened our management team with world - class leaders to continue to scale our business . We are now ready to accelerate our innovation and customer growth , and being public will give us the visibility and financial resources to achieve our ambition of digitizing the built world . " " We continued to expand our business with enterprise customers , which drove our net dollar expansion rate to a record 132 % in the quarter , above the 129 % that we achieved in Q1 , " said JD Fay , Chief Financial Officer of Matterport . " We are still relatively early in our penetration with top enterprise customers and expect additional growth with new and existing enterprise customers . " Second Quarter 2021 Financial Highlights : • Total revenue was $ 29.5 million , up 21 % compared to second quarter of 2020 • Subscription revenue of $ 15.3 million , up 53 % compared to second quarter of 2020 • Annual Recurring Revenue ( ARR ) of $ 61.1 million ● Spaces Under Management ( SUM ) grew to 5.6 million , up 75 % compared to second quarter of 2020 • Subscribers increased to 404,000 , up 158 % compared to second quarter of 2020 Recent Business Highlights : • Became a public company and raised $ 640 million in gross proceeds by successfully completing a business combination with Gores Holdings VI , Inc. • Announced significant industry partnerships with Facebook , PTC , Apex , and SIMLAB • Announced a collaboration with Facebook Al Research ( FAIR ) through which we made the largest - ever dataset of 3D indoor spaces available to teach robots and virtual Al assistants to understand and interact with the complexities of the physical world • Announced platform integration with the PTC Vuforia EngineTM and Vuforia Studio ™ M augmented reality ( AR ) software offerings • Announced a partnership with Apex to enable retail brands across the U.S. and Canada to access , collect and evaluate building data and information from all of their stores in one place • Announced strategic partnership and investment in SIMLAB , a technology company that specializes in the digitization of buildings throughout the design and construction phases • Continued expansion of Capture Services ™ M On - Demand toanother 14 cities , making the service available to customers in a total of 26 cities across the United States • Strengthened executive team • Preethy Vaidyanathan , Head of Product • Brandt Kucharski , Chief Accounting Officer • Paul Thompson , Vice President of Solutions Engineering • Vivian Weiying Pan , Vice President of International Marketing • Vinatha Kutagula , Vice President of Customer Operations • Soohwan Kim , Vice President of Investor Relations Conference Call Information Matterport will host a conference call for analysts and investors to discuss its financial results for the second quarter of fiscal 2021 today at 2:00 p.m. Pacific time ( 5:00 p.m. Eastern time ) . A recorded webcast of the event will also be available following the call for one year on the Matterport's Investor Relations website at investors.matterport.com . Date : Time : Webcast : August 11 , 2021 2:00 p.m. Pacific time ( 5:00 p.m. Eastern time ) investors.matterport.com