Virginia-based CoStar Group has completed its purchase of spatial mapping company Matterport. The companies expected to finish the deal by the end of March, putting them ahead of schedule
Total revenue was $169.7M, up 8% compared to a year earlier, boosted by its 1.2 million subscribers as the company bolstered its ongoing revenue streams
Total revenue grew to $42.2M during Q2 2024, up from $39.6M the previous year, as the company worked to increase its market share
The company's net loss was 36% less than in 2023, according to Matterport's earnings from the quarter. Revenue rose 5% for the quarter
The company said it expects to grow total revenue 19% to 22% this year as it continues its expansion as an industry leader
Matterport posted second-quarter revenues of $39.6M — a 39% increase from the same period a year earlier that squeaked past analyst estimates of $39.2M, according to a Tuesday earnings call
The company previously thought subscriber numbers would be flat in Q1, but ultimately they ended up jumping 37% year over year, according to a quarterly earnings call Tuesday
The virtual tour software company posted $38M in revenue, up from $28.4M in Q2, avoiding headwinds that have ensnared others in the real estate space, according to earnings on Thursday