Matterport Announces Second Quarter 2023 Financial Results


 
MATTERPORT INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
 
  June 30,  December 31,
   2023    2022 
ASSETS   
Current assets:   
Cash and cash equivalents$82,316  $117,128 
Short-term investments 363,295   355,815 
Accounts receivable, net 18,649   20,844 
Inventories 12,198   11,061 
Prepaid expenses and other current assets 7,236   13,084 
Total current assets 483,694     517,932  
Property and equipment, net   32,684       30,559  
Operating lease right-of-use assets   1,933       2,515  
Long-term investments         3,959  
Goodwill   69,593       69,593  
Intangible assets, net   10,005       10,890  
Other assets   6,819       4,947  
Total assets $ 604,728     $ 640,395  
LIABILITIES AND STOCKHOLDERS’ EQUITY      
Current liabilities      
Accounts payable $ 8,162     $ 8,331  
Deferred revenue   21,037       16,731  
Accrued expenses and other current liabilities   20,636       23,916  
Total current liabilities   49,835       48,978  
Warrants liability   752       803  
Deferred revenue, non-current   1,820       1,201  
Other long-term liabilities   819       5,502  
Total liabilities   53,226       56,484  
Commitments and contingencies      
Redeemable convertible preferred stock $     $  
Stockholders’ equity:      
Common stock   30       29  
Additional paid-in capital   1,242,360       1,168,313  
Accumulated other comprehensive loss   (1,113 )     (5,034 )
Accumulated deficit   (689,775 )     (579,397 )
Total stockholders’ equity   551,502       583,911  
Total liabilities and stockholders’ equity $ 604,728     $ 640,395  



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