Matterport Announces Record Quarterly Financial Results

Additional Information and Where to Find It

In connection with the proposed business combination, Gores has filed a registration statement on Form S-4 that includes a proxy statement of Gores, an information statement of Matterport and a prospectus of Gores. The proxy statement/information statement/prospectus is not yet effective. The definitive proxy statement/information statement/prospectus, when it is declared effective by the SEC, will be sent to all Gores and Matterport stockholders as of a record date to be established for voting on the proposed business combination and the other matters to be voted upon at a meeting of Gores' stockholders to be held to approve the proposed business combination and other matters (the "Special Meeting"). Gores may also file other documents regarding the proposed business combination with the SEC. The definitive proxy statement/information statement/prospectus will contain important information about the proposed business combination and the other matters to be voted upon at the Special Meeting and is not intended to provide the basis for any investment decision or any other decision in respect of such matters. Before making any voting decision, investors and security holders of Gores and Matterport are urged to read the registration statement, the proxy statement/information statement/prospectus and all other relevant documents filed or that will be filed with the SEC in connection with the proposed business combination as they become available because they will contain important information about the proposed business combination.

Investors and security holders will be able to obtain free copies of the proxy statement/information statement/prospectus and all other relevant documents filed or that will be filed with the SEC by Gores through the website maintained by the SEC at   www.sec.gov, or by directing a request to Gores Holdings VI, Inc., 6260 Lookout Road, Boulder, CO 80301, attention: Jennifer Kwon Chou or by contacting Morrow Sodali LLC, Gores' proxy solicitor, for help, toll-free at (800) 662-5200 (banks and brokers can call collect at (203) 658-9400).

Participants in Solicitation

Gores and Matterport and their respective directors and officers may be deemed to be participants in the solicitation of proxies from Gores' stockholders in connection with the proposed business combination. Information about Gores' directors and executive officers and their ownership of Gores' securities is set forth in Gores' filings with the SEC. Additional information regarding the interests of those persons and other persons who may be deemed participants in the proposed business combination may be obtained by reading the proxy statement/information statement/prospectus regarding the proposed business combination. You may obtain free copies of these documents as described in the preceding paragraph.

Disclaimer

This document relates to a proposed business combination between Gores and Matterport. This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

 

MATTERPORT, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

FOR THREE MONTHS ENDED MARCH 31, 2021 AND MARCH 31, 2020

(unaudited)

(In thousands, except share and per share data)

 

Three Months Ended March 31,

 

2021

 

2020

Revenue:

     

Subscription

$          13,800

 

$         7,516

License

2,260

 

-

Services

2,689

 

925

Product

8,180

 

4,499

            Total revenue

26,929

 

12,940

Costs of revenue:

     

Subscription

3,251

 

2,413

License

-

 

-

Services

2,035

 

927

Product

4,915

 

3,068

            Total costs of revenue

10,201

 

6,408

Gross profit

16,728

 

6,532

Operating expenses:

     

            Research and development

6,025

 

4,605

            Selling, general, and administrative

13,058

 

9,797

            Total operating expenses

19,083

 

14,402

Loss from operations

(2,355)

 

(7,870)

Other income (expense):

     

            Interest income

8

 

9

            Interest expense

(308)

 

(387)

            Other (expense) income, net

(198)

 

154

            Total other income (expense)

(498)

 

(224)

Loss before provision for income taxes

(2,853)

 

(8,094)

Provision for income taxes

19

 

14

Net loss

(2,872)

 

(8,108)

Net loss per share attributable to common stockholders, basic
and diluted

$            (0.30)

 

$           (1.04)

Weighted-average shares used in computing net loss per
share attributable to common stockholders, basic
and diluted

 

9,621,163

 

 

7,800,411

Other comprehensive loss, net of tax:

     

            Foreign currency translation loss

(67)

 

(98)

            Unrealized gain on available-for-sale securities, net of tax

40

 

-

Comprehensive loss

$           (2,899)

 

$          (8,206)

       

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