Matterport Announces Second Quarter 2022 Financial Results, with

Matterport Announces Second Quarter 2022 Financial Results, with Stronger-than-Expected Subscription Revenue and Non-GAAP EPS

MATTERPORT, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In thousands, except per share amounts)
(unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
		2022			2021			2022			2021
GAAP net income/(loss)	$	(64,634	)	$	(6,209	)	$	7,270		$	(9,081	)
Stock-based compensation expense⁽¹⁾		32,889			601			88,977			1,259
Acquisition-related costs⁽²⁾		900			—			1,072			—
Amortization expense of acquired intangible assets		265			—			525			—
Change in fair value of warrants liabilities ⁽³⁾		(4,714	)		—			(26,147	)		—
Change in fair value of contingent earn-out liability ⁽⁴⁾		—			—			(136,043	)		—
Payroll tax related to contingent earn-out share issuance ⁽⁵⁾		—			—			1,164			—
Non-GAAP net loss	$	(35,294	)	$	(5,608	)	$	(63,182	)	$	(7,822	)

GAAP net income (loss) per share attributable to common stockholders:
Basic	$	(0.23	)	$	(0.15	)	$	0.03		$	(0.22	)
Diluted	$	(0.23	)	$	(0.15	)	$	0.02		$	(0.22	)
Non-GAAP net loss per share attributable to common stockholders, basic and diluted	$	(0.12	)	$	(0.03	)	$	(0.23	)	$	(0.05	)

GAAP weighted-average shares used to compute net income (loss) per share, basic		283,405			41,348			279,289			40,490
Weighted-average effect of potentially dilutive securities ⁽⁶⁾		—			—			34,545			—
GAAP weighted-average shares used to compute net income (loss) per share, diluted		283,405			41,348			313,834			40,490
Excluded anti-dilutive weighted-average potential shares of common stock in calculating non-GAAP loss per share		—			—			(34,545	)		—
Adjustment for common stock issued in connection with the merger ⁽⁷⁾		—			127,499			—			127,499
Non-GAAP weighted-average shares used to compute net loss per share, basic and diluted		283,405			168,847			279,289			167,989