Matterport Announces Record Fourth Quarter And Full Year 2022 Financial Results

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In thousands, except per share amounts)
(unaudited)

  Three Months Ended December 31,  Year Ended December 31,
  2022  2021  2022  2021
GAAP net loss$(60,350) $(160,990) $(111,339) $(338,060)
Stock-based compensation expense(1) 33,140   68,847   152,788   100,844 
Acquisition-related costs(2)    887   1,294   887 
Amortization expense of acquired intangible assets 443      1,411    
Change in fair value of warrants liabilities(3) (888)  24,194   (27,035)  48,370 
Transaction costs(4)                     565  
Change in fair value of contingent earn-out liability (5)         41,976       (136,043 )     140,454  
Investment impairment   1,093             1,093        
Payroll tax related to contingent earn-out share issuance (6)               1,164        
Non-GAAP net loss $ (26,562 )   $ (25,086 )   $ (116,667 )   $ (46,940 )
               
GAAP net loss per share attributable to common stockholders, basic and diluted $ (0.21 )   $ (0.66 )   $ (0.39 )   $ (2.58 )
Non-GAAP net loss per share attributable to common stockholders, basic and diluted $ (0.09 )   $ (0.10 )   $ (0.41 )   $ (0.23 )
               
GAAP weighted-average shares used to compute net loss per share, basic and diluted   289,164       244,678       283,585       131,278  
Weighted-average effect of potentially dilutive securities (7)                     70,561  
Non-GAAP weighted-average shares used to compute net loss per share, basic and diluted   289,164       244,678       283,585       201,839  

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