|
MATTERPORT INC.
CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) | |||||||
| Year Ended December 31, | |||||||
| 2023 | 2022 | ||||||
| (unaudited) | |||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 82,902 | $ | 117,128 | |||
| Short-term investments | 305,264 | 355,815 | |||||
| Accounts receivable, net | 16,925 | 20,844 | |||||
| Inventories | 9,115 | 11,061 | |||||
| Prepaid expenses and other current assets | 8,635 | 13,084 | |||||
| Total current assets | 422,841 | 517,932 | |||||
| Property and equipment, net | 32,471 | 30,559 | |||||
| Operating lease right-of-use assets | 625 | 2,515 | |||||
| Long-term investments | 34,834 | 3,959 | |||||
| Goodwill | 69,593 | 69,593 | |||||
| Intangible assets, net | 9,120 | 10,890 | |||||
| Other assets | 7,671 | 4,947 | |||||
| Total assets | $ | 577,155 | $ | 640,395 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities | |||||||
| Accounts payable | $ | 7,586 | $ | 8,331 | |||
| Deferred revenue | 23,294 | 16,731 | |||||
| Accrued expenses and other current liabilities | 13,354 | 23,916 | |||||
| Total current liabilities | 44,234 | 48,978 | |||||
| Warrants liability | 290 | 803 | |||||
| Deferred revenue, non-current | 3,141 | 1,201 | |||||
| Other long-term liabilities | 206 | 5,502 | |||||
| Total liabilities | 47,871 | 56,484 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ equity: | |||||||
| Common stock | 31 | 29 | |||||
| Additional paid-in capital | 1,307,324 | 1,168,313 | |||||
| Accumulated other comprehensive income (loss) | 403 | (5,034 | ) | ||||
| Accumulated deficit | (778,474 | ) | (579,397 | ) | |||
| Total stockholders’ equity | 529,284 | 583,911 | |||||
| Total liabilities and stockholders’ equity | $ | 577,155 | $ | 640,395 | |||
Matterport Announces Fourth Quarter and Full Year 2023 Financial Results Demonstrating Strong Recurring Revenue Growth and Reaffirms 2024 Profitability Target
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