(In thousands)
| Year Ended December 31, | |||||||
|
2022
|
2021
| ||||||
| (unaudited) | |||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 117,128 | $ | 139,519 | |||
| Restricted cash | — | 468 | |||||
| Short-term investments | 355,815 | 264,931 | |||||
| Accounts receivable, net | 20,844 | 10,879 | |||||
| Inventories | 11,061 | 5,593 | |||||
| Prepaid expenses and other current assets | 13,084 | 16,313 | |||||
| Total current assets | 517,932 | 437,703 | |||||
| Property and equipment, net | 30,559 | 14,118 | |||||
| Operating lease right-of-use assets | 2,515 | — | |||||
| Long-term investments | 3,959 | 263,659 | |||||
| Goodwill | 69,593 | — | |||||
| Intangible assets, net | 10,890 | — | |||||
| Other assets | 4,947 | 3,696 | |||||
| Total assets | $ | 640,395 | $ | 719,176 | |||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
| Current liabilities | |||||||
| Accounts payable | $ | 8,331 | $ | 12,227 | |||
| Deferred revenue | 16,731 | 11,074 | |||||
| Accrued expenses and other current liabilities | 23,916 | 10,026 | |||||
| Total current liabilities | 48,978 | 33,327 | |||||
| Warrants liability | 803 | 38,974 | |||||
| Contingent earn-out liability | — | 377,576 | |||||
| Deferred revenue, non-current | 1,201 | 874 | |||||
| Other long-term liabilities | 5,502 | 262 | |||||
| Total liabilities | 56,484 | 451,013 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ equity: | |||||||
| Common stock | 29 | 25 | |||||
| Additional paid-in capital | 1,168,313 | 737,735 | |||||
| Accumulated other comprehensive loss | (5,034 | ) | (1,539 | ) | |||
| Accumulated deficit | (579,397 | ) | (468,058 | ) | |||
| Total stockholders’ equity | 583,911 | 268,163 | |||||
| Total liabilities and stockholders’ equity | $ | 640,395 | $ | 719,176 | |||
MATTERPORT, INC.
