Matterport Announces First Quarter 2023 Financial Results

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

   Three Months Ended March 31,
    2023    2022 
GAAP net income (loss) $(53,842) $71,904 
Stock-based compensation related charges (1)  33,111   56,088 
Acquisition-related costs (2)     172 
Amortization expense of acquired intangible assets  443   260 
Change in fair value of warrants liability (3)  (222)  (21,433)
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 $(20,510) $(27,888)
     
GAAP net income (loss) per share attributable to common stockholders:    
Basic  $ (0.18 )   $ 0.26  
Diluted   $ (0.18 )   $ 0.23  
Non-GAAP net loss per share attributable to common stockholders, basic and diluted   $ (0.07 )   $ (0.10 )
         
Weighted-average shares used to compute GAAP net income (loss) per share, basic     293,074       275,199  
Weighted-average effect of potentially dilutive securities (6)           37,233  
Weighted-average shares used to compute GAAP net income (loss) per share, diluted     293,074       312,432  
Excluded anti-dilutive weighted-average potential shares of common stock in calculating non-GAAP loss per share           (37,233 )
Weighted-average shares used to compute non-GAAP net loss per share, basic and diluted     293,074       275,199  

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