Matterport Stock Falls After Q4 Sales Miss, Weak Guidance
Portfolio Pulse from Erica Kollmann
Matterport Inc (NASDAQ:MTTR) reported Q4 financial results with sales of $39.55 million, missing the consensus estimate of $40.22 million and showing a 3.88% decrease year-over-year. The company met earnings expectations with losses of 4 cents per share. Despite the miss, subscription revenue grew by 23% year-over-year. Matterport provided weak guidance for Q1 and the full year 2024, expecting lower than estimated revenues and adjusted losses.
February 20, 2024 | 10:08 pm
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NEGATIVE IMPACT
Matterport reported lower than expected Q4 sales and provided weak guidance for Q1 and full year 2024, leading to a 7.09% drop in after-hours trading.
Matterport's Q4 sales miss and the subsequent weak guidance for the upcoming periods are likely to negatively impact investor sentiment in the short term, as evidenced by the after-hours trading drop. However, the growth in subscription revenue indicates some underlying strengths.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100