MTTR - Matterport: Waiting Out The Housing Market

2024-03-13 23:33:23 ET

Summary

• Matterport's business continues to grow despite weak conditions in the real estate market, driven by the broader adoption of its subscription solution.
• The introduction of Property Intelligence could provide a tailwind for the Company in the coming years.
• MTTR's losses remain large, driven by stock-based compensation, leading to significant investor dilution.
• Matterport's valuation leaves room for multiple expansions, but this may require the housing market to normalize first.

Matterport's ( MTTR ) business continues to grow, despite weak conditions in its core real estate market, indicating broader adoption of its subscription solution. The introduction of Property Intelligence could also provide a tailwind in coming years. Matterport's losses remain large though, and the company has made little progress towards profitability in recent quarters. While losses are largely the result of non-cash expenses, investors are being significantly diluted....

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