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Matterport Matterport Announces Third Quarter 2021 Financial Results November 3 , 2021 • Total subscribers increased 116 % to 439,000 from year - ago period • Paid subscribers rose 35 % to 53,000 from year - ago period • Subscription revenue grew 36 % to $ 16 million from year - ago period • Annual recurring revenue grew to $ 63 million • GAAP loss per share of $ 0.86 , Non - GAAP loss per share of $ 0.06 SUNNYVALE , Calif . , Nov. 03 , 2021 ( GLOBE NEWSWIRE ) -- Matterport , Inc. ( Nasdaq : MTTR ) , ( " Matterport " or the " Company " ) , the spatial data company leading the digital transformation of the built world , today announced financial results for the quarter ended September 30 , 2021 . " We are pleased to report another strong quarter , more than doubling our subscriber count to 439,000 subscribers , and increasing our Spaces Under Management by 62 % to 6.2 million Spaces , " said RJ Pittman , Chairman and Chief Executive Officer of Matterport . " We made significant advances in all of our objectives , including strategic product launches , key industry partnerships , expanded service offerings , and the scaling of our global workforce to address the huge opportunity ahead . We have also been navigating the dynamics of the global supply chain and labor markets to minimize the impact on our hardware and services business . Our recent launch of Matterport for Android is very timely , and dramatically expands our reach for digitizing spaces using just the phone in your pocket , while giving us an important advantage to our global growth plans for Asia Pacific , Europe , the Middle East and Africa . " " We are also pleased to report that we increased our subscription revenue by 36 % , contributing to another quarter of year - over - year double digit growth , " said JD Fay , Chief Financial Officer of Matterport . " The third quarter was a transformational one for Matterport as we closed our merger with Gores Holdings , VI to become a public company . We added over $ 600 million to our balance sheet to fuel the long - term growth of the business worldwide . " Third Quarter 2021 Financial Highlights : • Total revenue was $ 27.7 million , up 10 % compared to third quarter of 2020 ● Subscription revenue of $ 15.7 million , up 36 % compared to third quarter of 2020 • Annual Recurring Revenue ( ARR ) of $ 62.7 million • Spaces Under Management ( SUM ) grew to 6.2 million , up 62 % compared to third quarter of 2020 • Total subscribers increased to 439,000 , up 116 % compared to third quarter of 2020 • GAAP loss per share of $ 0.86 , Non - GAAP loss per share of $ 0.06 Recent Business Highlights : • Announced Matterport for Android , making 3D capture freely available to more than one billion Android mobile devices • Announced the open beta launch of Notes , a conversational , real - time team collaboration , communication and file sharing tool directly inside Matterport digital twins • Entered the public sector with an agreement to develop a compliant Government Cloud ( GovCloud ) offering a strategic partnership with In - Q - Tel , Inc. • Became a public company and raised $ 640 million in gross proceeds by successfully completing a merger with Gores Holdings VI , Inc. • Announced industry partnerships with Verisk , PTC , Apex , SIMLAB , and Facebook ( now known as Meta ) o New integration between Matterport and Verisk's Xactimate allows property professionals to order a TruePlan of a Matterport 3D Space with a single click , eliminating the need for property professionals to manually sketch loss sites o Platform integration with the PTC Vuforia Engine ™ M and Vuforia Studio TM augmented reality ( AR ) software offerings enables customers to view a precise location of an immersive 3D environment and access experiences such as wayfinding , virtual training , real - time information retrieval , and more o Partnership with Apex enables retail brands across the North America to access , collect and evaluate building data and information from all of their stores in a single location • Strategic partnership and investment in SIMLAB , a technology company that specializes in the digitization of buildings throughout the design and construction phases o Partnership with Meta Al Research for advancing research and development of Al systems for the physical and virtual world , which has been adopted by over 180 academic institutions to date • Continued expansion of Capture Services ™ M On - Demand to a total of 80 cities in the United States from 12 in Q2 and launched internationally with four cities in the United Kingdom • Strengthened executive team