Matterport Announces Record Third Quarter 2024 Financial Results

MATTERPORT INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
 
  
   September 30,   December 31, 
  2024  2023 
ASSETS        
Current assets:        
Cash and cash equivalents$63,358  $82,902  
Restricted cash 95,182     
Short-term investments 206,818   305,264  
Accounts receivable, net 14,918   16,925  
Inventories 7,582   9,115  
Prepaid expenses and other current assets 9,145     8,635    
      Total current assets   397,003       422,841    
Property and equipment, net   30,356       32,471    
Operating lease right-of-use assets   226       625    
Long-term investments   39,824       34,834    
Goodwill   69,593       69,593    
Intangible assets, net   7,792       9,120    
Other assets   8,129       7,671    
      Total assets $ 552,923     $ 577,155    
LIABILITIES AND STOCKHOLDERS’ EQUITY                
Current liabilities                
Accounts payable $ 7,812     $ 7,586    
Deferred revenue   26,885       23,294    
Accrued expenses and other current liabilities   108,308       13,354    
      Total current liabilities   143,005       44,234    
Warrants liability   1,185       290    
Deferred revenue, non-current   1,969       3,141    
Other long-term liabilities         206    
      Total liabilities   146,159       47,871    
Commitments and contingencies                
Stockholders’ equity:                
Common stock   32       31    
Additional paid-in capital   1,400,614       1,307,324    
Accumulated other comprehensive income   707       403    
Accumulated deficit   (994,589 )     (778,474 )  
      Total stockholders’ equity   406,764       529,284    
Total liabilities and stockholders’ equity $ 552,923     $ 577,155    
   



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