Real estate focused virtual reality platform Matterport (NASDAQ:MTTR) will be reporting earnings tomorrow after the bell. Here's what you need to know.
Last quarter Matterport reported revenues of $37.9 million, up 37.3% year on year, beating analyst revenue expectations by 5.69%. It was a very strong quarter for the company, with exceptional revenue growth and a solid beat of analyst estimates. The company added 41,000 customers to a total of 657,000.
Is Matterport buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Matterport's revenue to grow 46.5% year on year to $39.6 million, improving on the 14.8% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.10 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.
Looking at Matterport's peers in the vertical software segment, some of them have already reported Q4 earnings results, giving us a hint what we can expect. Toast delivered top-line growth of 49.3% year on year, beating analyst estimates by 2.1% and Upstart reported revenue decline of 51.8% year on year, exceeding estimates by 10.6%. Toast traded down 6.20% on the results, Upstart was up 0.89%. Read our full analysis of Toast's results here and Upstart's results here.
There has been positive sentiment among investors in the software segment, with the stocks up on average 7.77% over the last month. Matterport is up 16.5% during the same time, and is heading into the earnings with analyst price target of $5.4, compared to share price of $3.6.
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The author has no position in any of the stocks mentioned.