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MATTERPORT INC.
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CONDENSED CONSOLIDATED BALANCE SHEETS
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AS OF JUNE 30, 2021 AND DECEMBER 31, 2020
(unaudited) | |||||||
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(In thousands, except share and per share data)
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| June 30, | December 31, | ||||||
| 2021 |
2020
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| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 42,281 | $ | 51,850 | |||
| Restricted cash | 400 | 400 | |||||
| Accounts receivable, net of allowance of $32 and $799, as of June 30, 2021 and December 31, 2020, respectively | 6,692 | 3,924 | |||||
| Inventories | 2,622 | 3,646 | |||||
| Prepaid expenses and other current assets | 3,810 | 2,453 | |||||
| Total current assets | 55,805 | 62,273 | |||||
| Property and equipment, net | 9,373 | 8,210 | |||||
| Other assets | 6,352 | 1,369 | |||||
| Total assets | $ | 71,530 | $ | 71,852 | |||
| LIABILITIES, REDEEMABLE CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS’ DEFICIT | |||||||
| Current liabilities | |||||||
| Accounts payable | $ | 4,903 | $ | 3,434 | |||
| Current portion of long-term debt | 8,427 | 8,215 | |||||
| Deferred revenue | 7,667 | 4,606 | |||||
| Accrued expenses and other current liabilities | 10,739 | 6,995 | |||||
| Total current liabilities | 31,736 | 23,250 | |||||
| Long-term debt | 2,034 | 4,502 | |||||
| Deferred revenue, non-current | 260 | 297 | |||||
| Other long-term liabilities | 293 | 335 | |||||
| Total liabilities | 34,323 | 28,384 | |||||
| Commitments and contingencies (Note 6) | |||||||
| Redeemable convertible preferred stock, $0.001 par value; | |||||||
| 30,443,413 shares authorized as of June 30, 2021 and December 31, 2020; 30,340,098 shares issued and outstanding as of June 30, 2021 and December 31, 2020; and liquidation preference of $166,131 as of June 30, 2021 and December 31, 2020. | 164,168 | 164,168 | |||||
| Stockholders’ deficit: | |||||||
| Common stock, $0.001 par value; | |||||||
| 56,500,000 shares and 56,000,000 shares authorized as of June 30, 2021 and December 31, 2020, respectively; and 10,135,510 shares and 9,463,182 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively | 10 | 10 | |||||
| Additional paid-in capital | 11,948 | 9,153 | |||||
| Accumulated other comprehensive income | 160 | 135 | |||||
| Accumulated deficit | (139,079 | ) | (129,998 | ) | |||
| Total stockholders’ deficit | (126,961 | ) | (120,700 | ) | |||
| Total liabilities, redeemable convertible preferred stock and stockholders' deficit | $ | 71,530 | $ | 71,852 | |||
Matterport Announces Record Second Quarter 2021 Financial Results
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