Matterport Announces Record Second Quarter 2021 Financial Results
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MATTERPORT, INC. | |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |
FOR THE SIX MONTHS ENDED JUNE 30, 2021 AND 2020 |
(unaudited)
(In thousands) | | |
Six Months Ended June 30, | | |
2021 | |
2020 |
CASH FLOWS FROM OPERATING ACTIVITIES
| | | | | Net Loss | $ | (9,081 | ) | | $ | (11,798 | ) | | Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | | | | | Depreciation and amortization | | 2,608 | | | | 2,349 | | | Amortization of debt discount | | 135 | | | | 108 | | | Stock-based compensation, net of amounts capitalized | | 1,259 | | | | 1,164 | | | Loss on extinguishment of debt and convertible notes | | - | | | | 954 | | | Allowance for doubtful accounts | | 151 | | | | 241 | | | Loss on disposal of property, plant, and equipment | | 7 | | | | - | | | Other | | 43 | | | | 9 | | | Changes in operating assets and liabilities: | | | | | Accounts receivable | | (2,918 | ) | | | (4,421 | ) | | Inventories | | 1,024 | | | | 248 | | | Prepaid expenses and other assets | | (1,269 | ) | | | (673 | ) | | Accounts payable | | 1,466 | | | | 2,980 | | | Deferred revenue | | 3,024 | | | | 3,054 | | | Other liabilities | | 920 | | | | 2,808 | | | Net cash used in operating activities | | (2,631 | ) | | | (2,977 | ) | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | Purchases of property and equipment | | (326 | ) | | | (20 | ) | | Capitalized software and development costs | | (3,256 | ) | | | (2,454 | ) | | Investment in convertible notes | | (1,000 | ) | | | - | | | Net cash used in investing activities | | (4,582 | ) | | | (2,474 | ) | |
CASH FLOW FROM FINANCING ACTIVITIES: | | | | | Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs | | - | | | | 43,689 | | | Proceeds from exercise of stock options | | 1,342 | | | | 51 | | | Proceeds from debt | | - | | | | 5,302 | | | Proceeds from convertible notes, net of issuance costs | | - | | | | 8,457 | | | Repayment of debt | | (2,390 | ) | | | (5,922 | ) | | Payment of deferred transaction costs | | (1,204 | ) | | | - | | | Other | | - | | | | (81 | ) | | Net cash (used in) provided by financing activities | | (2,252 | ) | | | 51,496 | | | Net change in cash, cash equivalents, and restricted cash | | (9,465 | ) | | | 46,045 | | | Effect of exchange rate changes on cash | | (104 | ) | | | (130 | ) | | Cash, cash equivalents, and restricted cash at beginning of year | | 52,250 | | | | 10,152 | | | Cash, cash equivalents, and restricted cash at end of period | $ | 42,681 | | | $ | 56,067 | | | | | | |
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Matterport’s Pro2 3D Camera is Now Available on Amazon in Europe
