Matterport Announces Record Second Quarter 2021 Financial Results


MATTERPORT INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF JUNE 30, 2021 AND DECEMBER 31, 2020 (unaudited)
(In thousands, except share and per share data)
	June 30,			December 31,
	2021			2020
ASSETS

Current assets:
Cash and cash equivalents	$	42,281		$	51,850
Restricted cash		400			400
Accounts receivable, net of allowance of $32 and $799, as of June 30, 2021 and December 31, 2020, respectively		6,692			3,924
Inventories		2,622			3,646
Prepaid expenses and other current assets		3,810			2,453
Total current assets		55,805			62,273
Property and equipment, net		9,373			8,210
Other assets		6,352			1,369
Total assets	$	71,530		$	71,852
LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT
Current liabilities
Accounts payable	$	4,903		$	3,434
Current portion of long-term debt		8,427			8,215
Deferred revenue		7,667			4,606
Accrued expenses and other current liabilities		10,739			6,995
Total current liabilities		31,736			23,250
Long-term debt		2,034			4,502
Deferred revenue, non-current		260			297
Other long-term liabilities		293			335
Total liabilities		34,323			28,384
Commitments and contingencies (Note 6)
Redeemable convertible preferred stock, $0.001 par value;
30,443,413 shares authorized as of June 30, 2021 and December 31, 2020; 30,340,098 shares issued and outstanding as of June 30, 2021 and December 31, 2020; and liquidation preference of $166,131 as of June 30, 2021 and December 31, 2020.		164,168			164,168
Stockholders’ deficit:
Common stock, $0.001 par value;
56,500,000 shares and 56,000,000 shares authorized as of June 30, 2021 and December 31, 2020, respectively; and 10,135,510 shares and 9,463,182 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively		10			10
Additional paid-in capital		11,948			9,153
Accumulated other comprehensive income		160			135
Accumulated deficit		(139,079	)		(129,998	)
Total stockholders’ deficit		(126,961	)		(120,700	)
Total liabilities, redeemable convertible preferred stock and stockholders' deficit	$	71,530		$	71,852

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