Matterport, Inc. (NASDAQ:MTTR) Q1 2022 Earnings Conference Call May 10, 2022 4:30 PM ET
Company Participants
Soohwan Kim - Vice President, Investor Relations
RJ Pittman - Chairman & Chief Executive Officer
JD Fay - Chief Financial Officer
Conference Call Participants
John Walsh - Credit Suisse
Bhavin Shah - Deutsche Bank
Elizabeth Porter - Morgan Stanley
Yun Kim - Loop Capital Market
Wayne Trinh - Piper Sandler
Operator
Hello and welcome to the Matterport Inc. Fiscal 2022 First Quarter Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions [Operator Instructions] Please note, today's event is being be recorded.
I would now like to turn the conference over to Soohwan Kim, Vice President of Investor Relations. Mr. Kim, please go ahead.
Soohwan Kim
Thank you. Before we begin, I'd 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 risks and uncertainties that could cause actual results to differ from forward-looking statements can be found in our filings with the SEC. Any forward-looking statements made on this call speak only as of today and Matterport assumes no obligation to update or revise them whether as a result of new developments or otherwise except as required by law.
In addition today's call may include discussion of non-GAAP financial measures. These measures should be considered as a supplementary and not a substitute for GAAP financial measures.
Reconciliation of these non-GAAP financial measures to the most directly comparable GAAP measures can be found in today's earnings deck, which is available on the company's website. Hosting today's call are RJ Pittman, Chairman and Chief Executive Officer of Matterport and JD Fay, Chief Financial Officer.
Now, I'd like to turn it over to RJ to begin.
RJ Pittman
Thanks Soohwan. Good afternoon, everyone, and thank you for joining us today. I'm excited to share our first quarter financial results with you. We had another strong quarter delivering on our product strategy, market expansion, and key results.
Total revenue for the quarter was $28.5 million, $1 million above the top end of guidance, and we delivered over $17 million in subscription revenue, up 24% from a year ago. We reported strong operating metrics with our subscriber base growing 70% to over 562,000 subscribers, with spaces under management increasing 49% to 7.3 million spaces.