Matterport, Inc. (NASDAQ:MTTR) Q4 2022 Results Conference Call February 22, 2023 4:30 PM ET

Company Participants

Mike Knapp - Vice President of Investor Relations

Raymond Pittman - Chairman and Chief Executive Officer

James Fay - Chief Financial Officer

Conference Call Participants

Elizabeth Porter - Morgan Stanley

Yun Kim - Loop Capital Markets

Bhavin Shah - Deutsche Bank

Operator

Good day and welcome to the Matterport Fiscal Fourth Quarter 2022 Results Conference Call. [Operator Instructions]. Please note today’s event is being recorded.

I would now like to turn the conference over to Mike Knapp, Vice President of Investor Relations. Please go ahead, sir.

Mike Knapp

Thanks and welcome to Matterport’s fourth quarter and full-year 2022 financial results conference call. After the market closed today, Matterport released results for the third quarter and year ended September 30, 2022. The release is available on the Company’s website at investors.matterport.com. This call is being recorded and webcast live. And a link to the recording can be found on the Investor Relations section of the Matterport website.

Before we begin, I would like to remind you that today’s call contains forward-looking statements within the meaning of federal securities laws including, but not limited to, statements regarding Matterport’s future financial results and management’s expectations and plans for the business. These forward-looking statements are subject to numerous risks and uncertainties that may cause actual results to differ materially from those discussed on today’s call.

Additional information regarding the risks and uncertainties can be found in our filings with the SEC. Any forward-looking statements are made as of the day of this call and Matterport assumes no obligation to update or revise them, except as required by law.

In addition, financial references on this call will be on a non-GAAP basis unless otherwise indicated. These measures should be considered as a supplement to and not as a substitute for GAAP financial measures. Reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP measure can be found in today’s earnings deck, which is available on the Company’s website.

Hosting today’s call are R.J. Pittman, Chairman and Chief Executive Officer of Matterport; and J.D. Fay, Chief Financial Officer. And with that, I would like turn it over to R.J. to begin.

Raymond Pittman

Thanks Mike. Good afternoon, everyone, and thank you for joining us today. I am pleased to share that we have delivered record revenue of $41.1 million for the fourth quarter, up 52% from a year-ago, with subscription revenue hitting a record of $19.3 million