Matterport Grows Subscriptions Despite Housing Slowdown, But Path to Profits Remains Long
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Matterport's business continues growing despite weak housing market, indicating broader adoption of its subscription solution. New Property Intelligence features could provide future growth.
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However, Matterport's losses remain substantial with little progress towards profitability recently. Investors face significant dilution.
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Weak housing market is weighing on Matterport's largest revenue segment (residential real estate), but subscription revenue still grew 14% last quarter.
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Partnerships (e.g. with Vacasa, Visiting Media) and new products (CAD file integration) aim to expand Total Addressable Market, but unclear if they will move the needle.
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Matterport has transitioned to a software model with over 60% of revenue from subscriptions now. Profitability is years away, so stock likely remains sensitive to housing swings.