Matterport Announces Record Third Quarter 2024 Financial Results

MATTERPORT, INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In thousands, except per share amounts)
(unaudited)
 
  
  Three Months Ended
September 30,
  Nine Months Ended
September 30,

 
  2024  2023  2024  2023 
GAAP net loss$(38,401) $(44,754) $(216,115) $(155,132) 
Stock-based compensation related charges (1) 31,445   29,721   93,793   97,281  
Restructuring charges (2)    3,147      3,147  
Acquisition-related costs (3) 4,271          12,194          
Amortization expense of acquired intangible assets   443       443       1,329       1,329    
Change in fair value of warrants liability (4)   (169 )     (513 )     895       (564 )  
Litigation expense (5)               95,000          
Non-GAAP net loss $ (2,411 )   $ (11,956 )   $ (12,904 )   $ (53,939 )  
                                 
GAAP net loss per share attributable to common stockholders, basic and
diluted
$ (0.12 )   $ (0.15 )   $ (0.68 )   $ (0.52 )  
Non-GAAP net loss per share attributable to common stockholders, basic and
diluted
$ (0.01 )   $ (0.04 )   $ (0.04 )   $ (0.18 )  
                                 
Weighted-average shares used to compute net loss per share, basic and diluted   321,151       303,432       317,002       298,226    
   
   
(1) Consists primarily of non-cash share-based compensation expense related to our stock incentive plans, and the employer payroll
taxes related to our stock options and restricted stock units.
 
(2) Consists of severance and other employee separation costs, and cease use charges for operating lease right-of-use assets due to
reduction of leased office spaces.
 
(3) Consists of acquisition transaction costs incurred for the proposed transaction with CoStar Group, Inc.  
(4) Consists of the non-cash fair value measurement change for private warrants.  
(5) Represents charges associated with our litigation for the nine months ended September 30, 2024.  
   

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