Why Matterport Stock Is Moving Higher After Hours

Matterport Inc MTTR shares are trading higher in Tuesday's after-hours session after the spacial data company reported better-than-expected financial results.

Matterport said first-quarter revenue increased 6% year-over-year to $28.5 million, which beat the $27.47 million estimate, according to data from Benzinga Pro. The company reported an adjusted loss of 10 cents per share, which beat the estimate for a loss of 14 cents per share.

Total subscribers increased 70% year-over-year to 562,000.

Matterport said it expects second-quarter revenue to be between $28.5 million and $30.5 million versus the $31 million estimate. The company sees a second-quarter adjusted earnings loss of 13 cents to 15 cents per share versus the estimate for a loss of 12 cents per share.

Matterport reaffirmed full-year 2022 revenue guidance of $125 million to $135 million.

MTTR 52-Week Range: $4.16 - $37.60

The stock was up 3.29% in after-hours at $4.40 at press time.

Photo: courtesy of Matterport.

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