Matterport Inc (MTTR) 2021 Q3 法說會逐字稿

Thank you for standing by, and welcome to the Matterport Inc. Fiscal 2021 Q3 Earnings Conference Call. (Operator Instructions) As a reminder, today's conference call is being recorded. I would now like to turn the conference over to your host, Mr. Soohwan Kim, Vice President of Investor Relations.

感謝您的支持，歡迎來到 Matterport Inc.。2021 財年第三季財報電話會議。（操作員說明）提醒一下，今天的電話會議正在錄音。現在我想將會議交給東道主投資者關係副總裁 Soohwan Kim 先生。

Thank you. Before we begin, I'd like to remind you that today's call contains forward-looking statements within the meaning of federal securities laws, including, but not limited to, statements regarding Matterport's future financial results and management's expectations and plans for the business. These forward-looking statements are subject to numerous risks and uncertainties that may cause actual results to differ materially from those discussed in today's call. Additional information regarding the risks and uncertainties that could cause actual results to differ from forward-looking statements can be found in our filings with the SEC. Any forward-looking statements made on this call speak only as of today and Matterport has no obligation to update or revise them whether as a result of new developments or otherwise, except as required by law.

謝謝。在開始之前，我想提醒您，今天的電話會議包含聯邦證券法含義內的前瞻性陳述，包括但不限於有關 Matterport 未來財務業績以及管理層對業務的預期和計劃的陳述。這些前瞻性陳述面臨眾多風險和不確定性，可能導致實際結果與今天電話會議中討論的結果有重大差異。有關可能導致實際結果與前瞻性陳述不同的風險和不確定性的更多信息，請參閱我們向 SEC 提交的文件。本次電話會議中所做的任何前瞻性陳述僅代表今天，Matterport 沒有義務更新或修改這些陳述，無論是由於新的發展還是其他原因，除非法律要求。

In addition, these call may include discussion of non-GAAP financial measures. These measures should be considered as a supplement to and not a substitute for GAAP financial measures. Reconciliation of each of these non-GAAP financial measures to the most directly comparable GAAP measures can be found in today's earnings deck, which is available on the company's. Hosting today's call are RJ Pittman, Chairman and Chief Executive Officer, of Matterport; and J D. Fay, Chief Financial Officer.

此外，這些電話會議可能包括對非公認會計原則財務措施的討論。這些措施應被視為對 GAAP 財務措施的補充而不是替代。這些非公認會計原則財務指標與最直接可比較的公認會計原則指標的調節可以在今天的收益表中找到，該收益表可以在公司的網站上找到。今天的電話會議由 Matterport 董事長兼執行長 RJ Pittman 主持。和財務長 J D. Fay。

Now I would like to turn it over to RJ to begin.

現在我想把它交給 RJ 來開始。

Thanks, Soohwan. Good afternoon, everyone, and thank you for joining us today. I'm excited to share our third quarter financial results with you. This is the second earnings call as a public company, and we had another strong quarter, delivering on our products, strategy and results.

謝謝，蘇萬。大家下午好，感謝您今天加入我們。我很高興與您分享我們第三季的財務表現。這是作為一家上市公司的第二次財報電話會議，我們又經歷了一個強勁的季度，交付了我們的產品、策略和業績。

Our subscriber base more than doubled to over 439,000 subscribers, and we delivered over $15 million in subscription revenue, up 36% from 1 year ago, further increasing its percentage of the revenue mix, with total revenue for the quarter of $27.7 million. This includes an all-time monthly shipment record for our Pro 2 camera for the month of September.

我們的訂閱人數增加了一倍多，達到439,000 多名訂閱者，我們的訂閱收入超過1500 萬美元，比一年前增長36%，進一步提高了其在收入組合中的比例，本季度總收入為2770 萬美元。這包括我們的 Pro 2 相機 9 月的歷史月度出貨量記錄。

I would like to talk about 4 key initiatives that we have recently brought to market. Matterport for Android, our entry into the public sector, BIM file for the AEC category and an update on our partnership with Facebook, now Meta. Before handing over the call to JD to discuss our financial results for the quarter in more detail.

我想談談我們最近推向市場的 4 項關鍵舉措。Android 版 Matterport、我們進入公共部門、AEC 類別的 BIM 檔案以及我們與 Facebook（現為 Meta）合作夥伴關係的更新。在將電話轉交給京東之前，請更詳細地討論我們本季的財務表現。

Let's start with Android and our capture ubiquity strategy. We've had tremendous success with our breakthrough Pro 2 camera, selling over $100 million of hardware in the first 10 years of our history. We also knew that Pro 2 would be just one of the many ways in which we would capture the built world digitally.

讓我們從 Android 和我們的捕獲無處不在的策略開始。我們憑藉突破性的 Pro 2 相機取得了巨大成功，在我們歷史的前 10 年裡銷售了超過 1 億美元的硬體。我們也知道 Pro 2 只是我們以數位方式捕捉建築世界的眾多方式之一。

Over the past 3 years, we've opened up our capture ecosystem to a number of third-party cameras, including the high-precision Leica BLK 360 LiDAR camera, followed by support for low-cost, highly portable 360 cameras. It was at this point that Matterport unveiled scalable, true 3D capture from standard digital photography. This breakthrough is powered by Cortex, our artificial intelligence engine that can accurately predict 3D geometry of any space because it was trained on the accurate 3D data captured over the years with Pro 2.

在過去 3 年裡，我們向許多第三方相機開放了我們的拍攝生態系統，包括高精度 Leica BLK 360 LiDAR 相機，隨後支援低成本、高度便攜的 360 度相機。正是在此時，Matterport 推出了標準數位攝影的可擴展、真正的 3D 捕捉。這項突破由 Cortex 提供支持，Cortex 是我們的人工智慧引擎，可以準確預測任何空間的 3D 幾何形狀，因為它接受了 Pro 2 多年來捕獲的準確 3D 數據的訓練。

In 2020, we took Cortex even further, training the AI to accurately predict 3D building geometry from flat photos taken from an iPhone. The early beta product was well received, attracting more subscribers to our platform in 3 days than in the first 8 years of the company. To say that Matterport for iPhone has been an important part of our SaaS subscriber growth strategy would be an understatement.

2020 年，我們對 Cortex 進行了更進一步的研究，訓練人工智慧根據 iPhone 拍攝的平面照片準確預測 3D 建築幾何形狀。早期的測試版產品廣受好評，在 3 天內吸引了比公司成立前 8 年更多的訂閱者到我們的平台。如果說 iPhone 版 Matterport 一直是我們 SaaS 用戶成長策略的重要組成部分，這還算輕描淡寫。

As we approach 0.5 million Matterport subscribers today, it is almost hard to imagine, we had just over 13,000 subscribers on the platform at the start of 2019, making the first Matterport space free for our new customers is very important to our business. This compelling offer removes any friction from getting started and becoming successful with their first digital twin of any space, a home, office or hotel, all from just a smartphone in their pocket, just download and go.

如今，我們的Matterport 訂戶數量已接近50 萬，這幾乎難以想像，截至2019 年初，我們平台上的訂戶數量剛剛超過13,000 名，為我們的新客戶免費提供第一個Matterport 空間對我們的業務非常重要。這款引人注目的產品消除了任何空間、家庭、辦公室或飯店的第一個數位孿生的入門和成功的任何障礙，所有這些都只需口袋裡的智慧型手機，只需下載即可使用。

Later in 2020, Matterport exited beta with another groundbreaking announcement, full support for iPhones and iPads with Apple's new LiDAR sensor added to the device's camera system. Matterport's partnership with Apple has continued to flourish, including our technical input on LiDAR software controls, ensuring Matterport seamless integration on these new devices, while also creating solutions for Apple's global enterprise customer base.

2020 年晚些時候，Matterport 退出測試版，發布了另一項突破性聲明，全面支援 iPhone 和 iPad，並將 Apple 的新型 LiDAR 感測器添加到裝置的相機系統中。Matterport 與 Apple 的合作關係持續蓬勃發展，包括我們對 LiDAR 軟體控制的技術投入，確保 Matterport 在這些新設備上的無縫集成，同時也為 Apple 的全球企業客戶群創建解決方案。

The results of Matterport Plus high precision, enterprise-ready LiDAR capture solution that fits in your pocket. It is simply game changing.

Matterport Plus 高精度、企業級 LiDAR 捕獲解決方案的成果，可放入您的口袋中。這簡直就是改變遊戲規則。

Now during that same period, Matterport recognized that our big ambitions for smartphone capture would only be partially fulfilled without Android, which represents nearly 75% of active smartphones in the world today. And with companies like Samsung, Xiaomi and Google shipping more than 1 billion new Android phones every year, the potential is massive.

現在，在同一時期，Matterport 意識到，如果沒有 Android，我們在智慧型手機市場上的雄心壯志只能部分實現，而 Android 佔當今世界活躍智慧型手機的近 75%。三星、小米和谷歌等公司每年出貨超過 10 億部新 Android 手機，潛力巨大。

I'm happy to confirm that we have delivered on that commitment with the full release of Matterport for Android in the Google Play store on October 28 for 175 countries around the world, enabling both existing and new customers to experience Matterport using just the Android phone in their pocket. Together, Matterport for Android and Matterport for iPhone provide a 3D capture solution for the vast majority of the world's digital citizens, and we call it Matterport for Mobile. And as always, your first full-featured Matterport for Mobile digital twin is free.

我很高興地確認，我們已經兌現了這一承諾，於10 月28 日在Google Play 商店中向全球175 個國家/地區全面發布了Matterport for Android，讓現有客戶和新客戶僅使用Android 手機即可體驗Matterport在他們的口袋裡。Matterport for Android 和 Matterport for iPhone 共同為全球絕大多數數位公民提供 3D 捕捉解決方案，我們稱之為 Matterport for Mobile。像往常一樣，您的第一個全功能 Matterport for Mobile 數位孿生是免費的。

From here forward, we will be rolling Matterport for Mobile across all of our key vertical markets and geographies, starting with travel and hospitality, insurance, residential real estate and the enterprise. This highly portable, all-in-one solution makes 3D capture more convenient than ever for homeowners, hospitality hosts, facilities managers alike. Here is a quick take of Matterport for Mobile's powerful value propositions in each of these global markets.

從現在開始，我們將在所有主要垂直市場和地區推出 Matterport for Mobile，從旅遊和酒店、保險、住宅房地產和企業開始。這種高度便攜的一體式解決方案使房主、酒店主人、設施經理等的 3D 捕捉比以往任何時候都更加方便。以下是 Matterport for Mobile 在每個全球市場中強大的價值主張的簡要介紹。

For travel and hospitality, property owners want to maintain, promote and feel confident managing multiple properties online with these. For insurance, building owners can quickly document a home, assets, warranties, upgrades, personal property and even keep active records of how the property, its content and condition have changed over the years. They can also easily capture a Matterport model on a loss to quickly document things such as subrogation, insurance fraud, sub bids, approval questions and resolution disputes.

對於旅遊和酒店業，業主希望透過這些來維護、推廣並自信地在線管理多個房產。對於保險，業主可以快速記錄房屋、資產、保固、升級、個人財產，甚至保留財產、其內容和狀況多年來如何變化的活躍記錄。他們還可以輕鬆捕捉損失的 Matterport 模型，以快速記錄代位求償、保險詐欺、分標、審批問題和解決爭議等事項。

For residential real estate, property owners and agents can easily and freely start capturing properties with no special camera required, allowing them to quickly add 3D tours to improve their online engagement and visitor conversions.

對於住宅房地產，業主和代理商可以輕鬆、自由地開始拍攝房產，無需特殊相機，使他們能夠快速添加 3D 遊覽，以提高線上參與度和訪客轉換率。

For enterprise, large companies and facilities managers gain the ability to enlist teams of people to head out and accurately capture many buildings and spaces at the same time, each using smartphone in their pocket. This is just a sampling of the enormous opportunity that Matterport for Mobile will bring to our capture Ubiquity strategy in the years to come.

對於企業來說，大公司和設施經理能夠招募團隊，同時準確地捕捉許多建築物和空間，每個人都使用口袋裡的智慧型手機。這只是 Matterport for Mobile 將在未來幾年為我們的捕獲無處不在策略帶來的巨大機會的一個例子。

Next, I would like to explain our entry into the public sector, extending Matterport into this important and meaningful part of the built world. The market opportunity for digitizing the public sector is substantial, spanning federal, state and local government agencies, the segments include education, law enforcement, military, infrastructure and health care, building assets, infrastructure and other physical spaces within the U.S. Federal government alone exceeds $260 billion in value, according to a study done by the Obama administration in 2017, representing hundreds of thousands of buildings and spaces and infrastructure budgets that are measured in the trillions of dollars in the U.S. alone.

接下來，我想解釋一下我們進入公共部門的情況，將 Matterport 擴展到建築世界這個重要且有意義的部分。公共部門數位化的市場機會巨大，涵蓋聯邦、州和地方政府機構，包括教育、執法、軍事、基礎設施和醫療保健、建築資產、基礎設施和其他物理空間，僅美國聯邦政府就超過了根據奧巴馬政府2017 年進行的一項研究，價值2,600 億美元，相當於數十萬棟建築、空間和基礎設施預算，光是在美國就達到了數兆美元。

The appeal of this enormous market opportunity stems from our established offerings across the property lifecycle, including construction, facilities management, insurance and remote access, training and inspection of facilities from anywhere in the world.

這個巨大市場機會的吸引力源於我們在整個財產生命週期內提供的既定產品，包括建築、設施管理、保險和遠端存取、培訓和對世界各地設施的檢查。

Matterport's decade of experience is a distinct advantage to the sector that will provide government agencies and departments a jump-start that would otherwise take years to develop and deploy with more expensive and complex solutions. We are going to market with 2 strong partners. First, we recently announced a strategic partnership with In-Q-Tel, or IQT. For more than 20 years, the intelligence and national security communities have relied on IQT to anticipate its technology questions, needs and achieve solutions. We are thrilled that IQT is advocated for and representing Matterport to secure federal agencies in a way that will help these government organizations stay ahead of the technology curve and ensure the national security of the U.S. and its allies.

Matterport 十年的經驗對該行業來說是一個明顯的優勢，它將為政府機構和部門提供一個快速啟動的機會，否則需要數年的時間來開發和部署更昂貴和複雜的解決方案。我們將與兩個強大的合作夥伴一起進入市場。首先，我們最近宣布與 In-Q-Tel（IQT）建立策略夥伴關係。20 多年來，情報和國家安全界一直依靠 IQT 來預測其技術問題、需求並實現解決方案。我們很高興 IQT 得到倡導並代表 Matterport 保護聯邦機構的安全，從而幫助這些政府組織保持技術領先地位並確保美國及其盟國的國家安全。

Second, our long-standing partnership with Amazon's AWS division expands with the launch of AWS GovCloud. This will be the platform where we deploy and manage our first FedRAMP compliant offering. As we work together with AWS as a new member of the AWS Public Sector Partner program.

其次，隨著 AWS GovCloud 的推出，我們與 Amazon AWS 部門的長期合作關係得到了擴展。這將是我們部署和管理第一個符合 FedRAMP 標準的產品的平台。我們作為 AWS 公共部門合作夥伴計畫的新成員與 AWS 合作。

Upon formally entering the public sector in Q3, the demand was immediate. We have signed a number of customers with compelling use cases, including a large public school district in the United States to capture an initial footprint of 60 schools for first responder coordination, situational awareness and space planning and facilities management longer term. In the event of an incident or crisis, the police departments, fire departments will now have detailed knowledge of the building layout, ingress, egress and where the critical infrastructure is located from a remote location and long before entering the building.

在第三季正式進入公共部門後，需求就迫在眉睫。我們已經與許多具有引人注目的用例的客戶簽約，其中包括美國的一個大型公立學區，以捕獲 60 所學校的初始足跡，用於急救人員協調、態勢感知、空間規劃和長期設施管理。如果發生事件或危機，警察部門、消防部門現在可以在進入建築物之前很久就從遠端位置詳細了解建築物的佈局、入口、出口以及關鍵基礎設施的位置。

Now moving on to the category of architecture, engineering and construction, or AEC. I'd like to introduce our next big product for this industry, the Matterport BIM file.

現在轉到建築、工程和施工（AEC）類別。我想介紹我們這個產業的下一個​​重要產品，Matterport BIM 檔案。

Building Information Modeling, or BIM is a process for creating and managing information on a construction or design project across the project lifecycle. BIM brings together all of the information about every component of a building into one place. Creating a digital BIM enables those who interact with the building to optimize their actions, resulting in a greater whole life value for the asset. Using software, such as Autodesk Revit, professionals can create models for conceptual design, visualization, analysis and construction.

建築資訊模型（BIM）是在整個專案生命週期中創建和管理建築或設計專案資訊的過程。BIM 將建築物每個組件的所有資訊匯集到一個地方。創建數位 BIM 使與建築物互動的人員能夠優化他們的操作，從而為資產帶來更大的整個生命週期價值。使用 Autodesk Revit 等軟體，專業人員可以建立用於概念設計、視覺化、分析和施工的模型。

Building information models are not limited to just the dimensions and geometry aspects of the building. Project stakeholders can include information about behavior, performance, material types, costs and more within the BIM model. BIM objects contain whatever information designers input in the system. Until now, it has required a considerable amount of measurements and CAD translation labor to put all the data into the system to realize the full benefits of BIM. The process can take several weeks or longer, depending on the size and complexity of the project.

建築資訊模型不僅限於建築物的尺寸和幾何形狀。專案利害關係人可以在 BIM 模型中包含有關行為、性能、材料類型、成本等的資訊。BIM 物件包含設計者在系統中輸入的所有資訊。到目前為止，需要大量的測量和 CAD 翻譯工作才能將所有資料放入系統中，以實現 BIM 的全部優勢。這個過程可能需要幾週或更長時間，具體取決於專案的規模和複雜性。

Today, we are speeding this process sub dramatically with the launch of the Matterport BIM file add-on service, available to every Matterport digital twin on the platform today. Our customers can quickly transform a Matterport digital twin into a ready-to-use Autodesk BIM file at the click of a button. Receiving the final output in days versus weeks or months, and most importantly, delivered at a fraction of the cost. Architects, designers and building engineers can now accurately reflect the current state of any building and its content in pad faster, easier and more cost effectively than ever before.

今天，我們推出了 Matterport BIM 檔案附加服務，大大加快了這一過程，該服務目前可供平台上的每個 Matterport 數位孿生使用。我們的客戶只需點擊一個按鈕，即可將 Matterport 數位孿生快速轉換為即用型 Autodesk BIM 檔案。在幾天內即可收到最終輸出，而不是幾週或幾個月，最重要的是，交付成本僅為一小部分。建築師、設計師和建築工程師現在可以比以往更快、更輕鬆、更經濟高效地在 Pad 中準確反映任何建築物的當前狀態及其內容。

As with all of our new vertical market applications, we don't beta test in small corners of the industry. We have been working with Autodesk on the technology and the early deployments are with some of the biggest and most recognized firms in the industry, including the legendary firm ERA and HH Angus. Together, we are delivering the fastest and most convenient path from Matterport reality capture to BIM in just days from the click of a button. BIM is at the center of the global construction industry today. It is equivalent to the PDF document standard for any design-build project in the modern age.

與我們所有新的垂直市場應用程式一樣，我們不會在行業的小角落進行 Beta 測試。我們一直在與 Autodesk 合作開發這項技術，早期部署是與業內一些最大、最受認可的公司合作，包括傳奇公司 ERA 和 HH Angus。我們共同提供從 Matterport 現實捕捉到 BIM 的最快、最便捷的路徑，只需點擊一個按鈕，只需幾天的時間。BIM 是當今全球建築業的中心。它相當於現代任何設計建置專案的 PDF 文件標準。

Matterport's BIM file add-on offers breakthrough scan to BIM performance for any building project large or small, enabling Matterport to accelerate the creation of the built world in both physical and digital forms simultaneously. Our spatial data platform continues to unlock enormous opportunities for the company. At the end of Q2, we announced a collaboration with Facebook AI research, now Meta, through which we made the largest ever data set of 3D indoor spaces available for academic research across the fields of robotics and autonomy to train AI systems to function in both the physical and virtual worlds.

Matterport 的 BIM 檔案外掛程式為任何大大小小的建築專案提供突破性的 BIM 效能掃描，使 Matterport 能夠同時加速實體和數位形式的建築世界的創建。我們的空間數據平台持續為公司釋放巨大的機會。在第二季末，我們宣布與Facebook AI 研究機構（現為Meta）合作，透過該合作，我們提供了有史以來最大的3D 室內空間資料集，可用於機器人和自主領域的學術研究，以訓練AI系統在這兩個領域發揮作用物理世界和虛擬世界。

The program is off to a fast start, exceeding all expectations with hundreds of high-quality institutions and research groups qualifying for the program and beginning their work, including Cornell University and Carnegie Mellon to name just 2. Matterport and Meta recognized years ago that our digital twins of the built world and powerful spatial data hold a unique potential to transform the ways in which we work, live and play. This was foundational to the partnership and looking ahead, potentially very relevant to the development of the Metaverse.

該計劃啟動很快，超出了所有人的預期，數百家高品質機構和研究小組有資格參加該計劃並開始工作，其中包括康奈爾大學和卡內基梅隆大學等。Matterport 和Meta 多年前就認識到，我們的建築世界的數位孿生和強大的空間數據具有改變我們工作、生活和娛樂方式的獨特潛力。這是合作關係的基礎，也是展望未來的基礎，可能與元宇宙的發展非常相關。

Matterport for Mobile, BIM file, the spatial data partnership with Meta and our public sector initiative are 4 significant examples of how Matterport is delivering on our platform first strategy to accelerate the digitization of the built world across industries. Q3 was another proof point with clear signals of industry buy-in, key customer wins, and breakthrough product launches. We have more exciting launches coming, and I look forward to sharing them with all of our investors in the coming quarters. I will now turn it over to JD, who will discuss our financial performance for the third quarter and the continued strength of our business model.

Matterport for Mobile、BIM 文件、與 Meta 的空間資料合作夥伴關係以及我們的公共部門計劃是 Matterport 如何在我們的平台優先策略上實施加速跨行業建築世界數位化的 4 個重要範例。第三季是另一個證據，顯示了行業認可、贏得關鍵客戶和突破性產品發布的明確訊號。我們即將推出更多令人興奮的產品，我期待在未來幾季與所有投資者分享。我現在將其交給京東，他將討論我們第三季的財務表現以及我們業務模式的持續優勢。

Thank you, RJ. I am delighted to report that our Q3 was another solid quarter for Matterport, delivering record third quarter revenue of $27.7 million, up 10% from Q3 last year, which is on top of one of the Company's all-time best quarters last year. In addition, we are reporting continued growth in our annual recurring revenue metric to a record $62.7 million at quarter end. We continue to make significant progress on our mission to transform the world's buildings and spaces into data through digitization and datafication. Our offerings continue to resonate with customers in our target segments, as evidenced by our growth in total subscribers year-over-year.

謝謝你，RJ。我很高興地向大家報告，第三季度對Matterport 來說又是一個穩健的季度，第三季度收入達到創紀錄的2770 萬美元，比去年第三季度增長10%，高於去年公司歷史上最好的季度之一。此外，我們報告稱，季度末年度經常性收入指標持續成長，達到創紀錄的 6,270 萬美元。我們繼續在透過數位化和數據化將世界建築和空間轉化為數據的使命上取得重大進展。我們的產品繼續引起目標細分市場客戶的共鳴，我們的訂戶總數逐年增長就證明了這一點。

We had another stellar quarter of customer acquisition, increasing our subscribers 116% to 439,000 in Q3. We had strong growth in both free and paid categories. Our free subscribers grew 136% to 385,000, while our paid subscribers increased 35% to 54,000.

我們在第三季的客戶獲取量又表現出色，訂閱用戶數量增加了 116%，達到 439,000 名。我們在免費和付費類別中都有強勁成長。我們的免費訂閱者成長了 136%，達到 385,000 名，而付費訂閱者則成長了 35%，達到 54,000 名。

I will now discuss our Q3 financial results in more detail. This discussion includes some non-GAAP financial measures, and we have included tables that provide reconciliations between non-GAAP and GAAP financial measures in the quarterly presentation available on our website.

我現在將更詳細地討論我們第三季的財務表現。本討論包括一些非 GAAP 財務指標，我們在我們網站上提供的季度簡報中提供了提供非 GAAP 和 GAAP 財務指標之間調整表。

Revenue was led by continued growth in subscription revenue. License revenue was as expected and product sales came in below expectations given the environment, which we will discuss a bit later. The majority of our revenue is comprised of recurring subscription revenue. Subscription revenue was up 36% from a year ago to $15.7 million. Subscription revenue as a percent of total revenue continues to grow and was 57% of total revenue in the third quarter compared to 46% in the year ago period.

訂閱收入的持續成長帶動了收入的成長。考慮到環境，授權收入符合預期，產品銷售低於預期，我們稍後會討論這一點。我們的大部分收入來自經常性訂閱收入。訂閱收入較去年同期成長 36%，達到 1,570 萬美元。訂閱收入佔總收入的百分比持續成長，第三季佔總營收的 57%，去年同期為 46%。

Subscriptions are core to our growth strategy, and we use the other revenue lines, product, services and license, to continue to build subscription revenue over time. The growth of subscription revenue also naturally results in more of our revenue becoming recurring with high gross margin.

訂閱是我們成長策略的核心，我們利用其他收入線、產品、服務和許可證，隨著時間的推移繼續增加訂閱收入。訂閱收入的成長自然也會導致我們更多的收入成為高毛利率的經常性收入。

Our subscribers are also increasing their spent with us at a healthy rate. Our net dollar expansion rate was 114% in Q3. While this growth rate does not match the record high we saw in Q2, I have said in prior calls that our historical growth rate for this metric is around 110%, and I am pleased that Q3 was comfortably above our historical trend. I mentioned in the past that our net dollar expansion rate can be driven by our enterprise customers, where we still have relatively low penetration, and we had another successful quarter moving enterprise customers upward to higher plans as they grew their use of Matterport.

我們的訂戶也在以健康的速度增加我們的支出。第三季我們的淨美元擴張率為 114%。雖然這成長率與我們在第二季看到的歷史新高不符，但我在先前的電話會議中說過，我們這項指標的歷史成長率約為110%，我很高興第三季遠遠高於我們的歷史趨勢。我過去提到過，我們的淨美元擴張率可以由我們的企業客戶推動，我們在這些客戶中的滲透率仍然相對較低，而且隨著企業客戶增加對Matterport 的使用，我們又成功地推動了企業客戶升級到更高的計畫。

License revenue was $0.1 million compared to $3 million last year. As I noted on our last earnings call, license revenue can be very lumpy from quarter-to-quarter depending on the timing of completed transactions and any associated implementation work that we must perform to recognize revenue.

授權收入為 10 萬美元，而去年為 300 萬美元。正如我在上次財報電話會議上指出的那樣，許可證收入每季可能會非常不穩定，具體取決於完成交易的時間以及我們為確認收入而必須執行的任何相關實施工作。

Services revenue for the third quarter was $3.3 million, up 41% year-on-year. We provide a variety of services, including in-app purchases and capture services. In-app purchases provide our customers additional digital assets for their spaces, such as schematic floor plans or scan to BIM files that RJ discussed earlier.

第三季服務收入為330萬美元，年增41%。我們提供各種服務，包括應用程式內購買和捕獲服務。應用程式內購買為客戶的空間提供了額外的數位資產，例如平面圖或掃描到 RJ 之前討論的 BIM 檔案。

Capture services is an offering by which enterprise customers hire us to subcontract the capture of their spaces in high volume, enabling them to get onto our platform more quickly and at scale. We offer capture services around the world by leveraging a large network of service partners. We also briskly expanded our footprint and availability of a new service, capture services on demand, now covering 80 cities in the U.S. and another 4 internationally in the U.K.

捕獲服務是企業客戶聘請我們分包大量空間捕獲的一項服務，使他們能夠更快、更大規模地進入我們的平台。我們利用龐大的服務合作夥伴網路在世界各地提供捕獲服務。我們也迅速擴大了新服務「按需捕獲服務」的覆蓋範圍和可用性，目前已覆蓋美國 80 個城市和英國另外 4 個城市。

Our product revenue was $8.6 million, up 4% year-on-year. We saw strong demand in the quarter, and we're building momentum, shipping at a record pace. Toward the end of the quarter, however, we started to experience impacts from the global supply chain constraints. We sold out of high demand stock at the end of the quarter as a result. Without this factor, we believe that we could have shipped up to an additional 15% of products in the third quarter.

我們的產品收入為 860 萬美元，年增 4%。我們在本季度看到了強勁的需求，我們正在積蓄動力，以創紀錄的速度發貨。然而，到了本季末，我們開始受到全球供應鏈限制的影響。結果，我們在季度末售出了高需求庫存。如果沒有這個因素，我們認為第三季我們的產品出貨量可能會增加 15%。

Moving on to gross margin. Our total non-GAAP gross margin for the third quarter was 55%. We increased gross margin for both subscription and services, while we had minimal margin contribution from license revenue in the third quarter. Our subscription gross margin was 77%, up 240 basis points from a year ago. I am pleased with the continued growth in subscription margin, which was above our expectations. As we have noted before, we expect subscription gross margin to vary by 100 to 200 basis points from quarter-to-quarter as we invest in additional research and development activities.

轉向毛利率。我們第三季的非公認會計準則總毛利率為 55%。我們增加了訂閱和服務的毛利率，而第三季授權收入的利潤貢獻微乎其微。我們的認購毛利率為 77%，比去年同期成長 240 個基點。我對認購利潤率的持續成長感到高興，這超出了我們的預期。正如我們之前指出的，隨著我們投資額外的研發活動，我們預計訂閱毛利率將按季度變化 100 至 200 個基點。

Product gross margin was 23% as compared to 37% a year ago as we continue to use our Pro 2 camera as an on-ramp for subscriptions. As such, we routinely experiment with competitive plans and promotions to drive adoption. In the third quarter, we started bundling accessories for the first time and launched promotions to share these offerings with our target audience. Accordingly, our product margin was lower than in earlier quarters this year, but consistent with our growth plans.

由於我們繼續使用 Pro 2 相機作為訂閱的入口，產品毛利率為 23%，而一年前為 37%。因此，我們經常嘗試競爭性計劃和促銷活動來推動採用。第三季度，我們首次開始捆綁配件，並進行促銷活動，與目標受眾分享這些產品。因此，我們的產品利潤率低於今年前幾季度，但與我們的成長計劃一致。

Additionally, toward the end of the quarter, we began expediting materials where possible to meet customer demand, which also increased our product cost of goods sold. Reviewing non-GAAP operating expenses in Q3, research and development expenses were $7.8 million, up from $3.7 million in the prior year period. The growth in spending is planned and is primarily attributable to investments in headcount to increase our product development capabilities and throughput.

此外，在本季末，我們開始盡可能加快材料以滿足客戶需求，這也增加了我們的產品銷售成本。回顧第三季的非 GAAP 營運費用，研發費用為 780 萬美元，高於去年同期的 370 萬美元。支出的成長是計劃中的，主要歸因於對員工人數的投資，以提高我們的產品開發能力和吞吐量。

SG&A expenses were $21 million as compared to $9.5 million a year ago. We continue to invest in sales and marketing initiatives to drive further growth. We have also added capabilities in our G&A organization as we transitioned to being a public company in the quarter. Operating loss was $13.6 million in the third quarter and as expected, compared to an operating profit of $1.9 million in the year ago period.

SG&A 費用為 2,100 萬美元，而一年前為 950 萬美元。我們繼續投資於銷售和行銷活動，以推動進一步成長。隨著我們在本季度轉型為上市公司，我們也增強了 G&A 組織的能力。第三季營業虧損為 1,360 萬美元，符合預期，去年同期營業利潤為 190 萬美元。

During the early days of the pandemic in 2020, we rightsized our cost structure to drive toward profitability, prioritizing that objective over revenue growth at the time. Now that we have strengthened our balance sheet considerably as a public company and as COVID's initial impact on the world economy has stabilized, we had planned to invest to drive rapid growth in light of the market opportunity in front of us.

在 2020 年疫情爆發初期，我們調整了成本結構以實現盈利，並將這一目標置於當時的收入成長之上。現在，作為一家上市公司，我們的資產負債表已經大大增強，而且新冠疫情對世界經濟的初步影響已經穩定，我們計劃根據擺在我們面前的市場機會進行投資，以推動快速增長。

Non-GAAP net loss was $14 million and diluted non-GAAP loss per share was $0.06 for the quarter, as expected, using a weighted average share count of roughly 226 million shares.

根據加權平均股數約為 2.26 億股，本季非 GAAP 淨虧損為 1,400 萬美元，攤薄後非 GAAP 每股虧損為 0.06 美元，符合預期。

Moving on to our balance sheet. We ended the quarter with over $614 million in cash and investments. Having a strong balance sheet will give us tremendous flexibility to accelerate our growth, both organically and inorganically over time.

繼續我們的資產負債表。本季結束時，我們擁有超過 6.14 億美元的現金和投資。擁有強大的資產負債表將為我們提供巨大的靈活性，以隨著時間的推移加速我們的有機和無機成長。

Turning to our outlook. We believe the long-term opportunity and end market demand for Matterport remain intact, and our pace of product innovations further elevate our competitive moat. Notwithstanding our momentum, we know that the technology industry is facing supply chain bottlenecks and a tight labor market. We are taking a cautious view of those factors and updating our annual guidance accordingly. We expect full year 2021 total revenue to be in the range of $107 million to $110 million. While this range is lower than our previous expectations of $120 million to $126 million for total revenue in 2021. We are continuing on our growth trajectory as 2021 is expected to be up from 2020 revenue of $86 million, and up from 2019 revenue of $46 million.

轉向我們的展望。我們相信 Matterport 的長期機會和終端市場需求仍然完好無損，我們的產品創新步伐進一步提升了我們的競爭護城河。儘管我們勢頭強勁，但我們知道科技業正面臨供應鏈瓶頸和勞動力市場緊張。我們正在謹慎看待這些因素，並相應更新我們的年度指引。我們預計 2021 年全年總收入將在 1.07 億美元至 1.1 億美元之間。雖然這個範圍低於我們先前預期的 2021 年總收入 1.2 億美元至 1.26 億美元。我們將繼續沿著成長軌跡前進，預計 2021 年的營收將高於 2020 年的 8,600 萬美元，也高於 2019 年的 4,600 萬美元的收入。

I will next describe each revenue line in more detail to provide additional context. The biggest contributor to the change in our guidance range is attributed to the changes in our expectations for product revenue, as outlined already; and second, a change, which we believe is a positive over time and how a customer's licensed transaction will be recognized.

接下來我將更詳細地描述每個收入線以提供更多背景資訊。正如已經概述的那樣，我們指導範圍變化的最大貢獻者是我們對產品收入預期的變化；其次，我們認為隨著時間的推移，以及如何認可客戶的授權交易，這將是積極的變化。

For the next quarter, we are seeing component shortages and extended lead times in the supply chain, which are impacting our ability to build Pro 2 cameras in the quarter. Accordingly, we expect that we will experience a full quarter impact of these constraints, which means our expectations for product revenue are lower than they would be if the conditions were normalized.

在下個季度，我們會看到供應鏈中的零件短缺和交貨時間延長，這影響了我們在本季度製造 Pro 2 相機的能力。因此，我們預計我們將經歷這些限制的整個季度影響，這意味著我們對產品收入的預期低於情況正常化時的預期。

Additionally, we are experiencing challenges in hiring to our internal plans in several areas, including in our capture services business. We expect our capture services growth to be constrained by this factor. Therefore, while we experienced record enterprise bookings at the end of the third quarter, we expect it will take longer for enterprise customers to ramp their digitization efforts under those contracts than originally planned.

此外，我們在多個領域（包括我們的捕撈服務業務）的內部計劃招聘方面遇到了挑戰。我們預計我們的捕撈服務成長將受到此因素的限制。因此，儘管我們在第三季末經歷了創紀錄的企業預訂，但我們預計企業客戶在這些合約下加大數位化工作的時間將比原計劃更長。

In sum, despite solid order growth as we've increased our coverage area, it has been difficult to ramp up to meet the demand. We are starting to experience the tight labor market in more than just our services groups. While we have been successful hiring key talent during the quarter, it has been difficult to hire all the personnel we need as quickly as desired to meet our goals. We ended the quarter with 401 employees bringing on 75 new colleagues during the quarter. We are adding talent across the board in technology, sales, marketing, et cetera, to help achieve our plans, expanding our workforce is crucial to achieving new levels of capacity and productivity. We are somewhat behind our headcount plans, but we believe we can recruit and continue to leverage our raised profile as a public company.

總而言之，儘管隨著我們擴大覆蓋範圍，訂單穩步增長，但仍很難滿足需求。我們開始感受到勞動市場的緊張，而不僅僅是我們的服務部門。雖然我們在本季度成功聘用了關鍵人才，但很難盡快聘用我們需要的所有人員來實現我們的目標。本季結束時，我們有 401 名員工，並在本季新增了 75 名新同事。我們正在全面增加技術、銷售、行銷等領域的人才，以幫助實現我們的計劃，擴大我們的員工隊伍對於實現新的產能和生產力水平至關重要。我們的員工人數計劃在一定程度上落後於我們，但我們相信我們可以招募並繼續利用我們作為上市公司的形象。

Moving to license revenue. We expect the Q4 license revenue to be consistent with Q3, which is under $100,000. As we discussed previously, our license revenue can be lumpy. As of our Q2 earnings call, we expected a license transaction that was signed in the past to move to license revenue during Q4. We have been able to move this project forward very positively, and we expect that it will be recognized in the fourth quarter. However, it will move directly into the subscription phase.

轉向許可收入。我們預計第四季的授權收入將與第三季保持一致，均低於 10 萬美元。正如我們之前討論的，我們的授權收入可能不穩定。截至第二季財報電話會議，我們預計過去簽署的授權交易將在第四季轉化為授權收入。我們已經能夠非常積極地推動這個項目，我們預計它將在第四季度得到認可。不過，它將直接進入訂閱階段。

We are pleased with this development because it meets our long-term objective with license transactions, which is to offer solutions on a subscription basis rather than on a onetime license fee basis. Thus, the transaction, we expect to recognize as revenue in the fourth quarter would be recognized not as a onetime larger license revenue item, but recognized as recurring subscription revenue over the next several quarters.

我們對這一進展感到滿意，因為它滿足了我們在授權交易方面的長期目標，即以訂閱方式而不是一次性許可費的方式提供解決方案。因此，我們預計在第四季度確認為收入的交易將不會被確認為一次性較大的許可收入項目，而是被確認為未來幾季的經常性訂閱收入。

We believe this is a net positive as it validates our approach of bringing new features to market via a license structure and moving the arrangement to a subscription model. Finally, with respect to subscription revenue, in light of our changes in expectations for product revenue and services revenue, we expect there will be some impact to our subscription revenue in the fourth quarter. Part of our growth in subscription revenues generated from sales of our Pro 2 cameras, which generate new paid subscriptions and from growth in our capture services deployments, which generate both paid subscriptions as well as growth in existing paid subscription plans.

我們相信這是一個淨積極因素，因為它驗證了我們透過許可結構將新功能推向市場並將安排轉移到訂閱模式的方法。最後，關於訂閱收入，鑑於我們對產品收入和服務收入預期的變化，我們預計第四季度的訂閱收入將會受到一些影響。我們的訂閱收入成長的一部分來自 Pro 2 相機的銷售，這產生了新的付費訂閱，而我們的拍攝服務部署的成長則產生了付費訂閱以及現有付費訂閱方案的成長。

With activities in those areas constrained, as discussed earlier, we expect to see a modest impact in the subscription revenue line item in the fourth quarter, although still expect subscription revenue to grow sequentially in Q4. We also generate new subscriptions from customers who use third-party cameras to come on to the platform, including 360 cameras and smartphones. With last week's announcement of Matterport for Mobile, which includes Matterport Capture for Android, we are optimistic that we will generate significant subscriber growth, which can lead to further subscription revenue growth. Given the launch was just last week, it is premature for us to forecast revenue growth in the fourth quarter from this new offering and market expansion.

如同前面所討論的，由於這些領域的活動受到限制，我們預計第四季度的訂閱收入項目將受到適度影響，儘管我們仍然預計第四季度的訂閱收入將環比增長。我們也為使用第三方相機（包括 360 度相機和智慧型手機）的客戶提供新的訂閱。隨著上週發布的 Matterport for Mobile（其中包括適用於 Android 的 Matterport Capture），我們樂觀地認為我們將帶來顯著的用戶成長，這可能會導致訂閱收入進一步成長。鑑於上週才剛推出，我們現在預測第四季新產品和市場擴張帶來的營收成長還為時過早。

Finally, as we sit here today, we expect the current environment affecting technology companies to continue for some time into 2022. We will have a further update on 2022 in our next quarter conference call. And given that we do not see any change in the end market demand for our products and services, as the economy returns to a more normalized state, we would expect to grow our annual total revenue around the 50% range.

最後，當我們今天坐在這裡時，我們預計目前影響科技公司的環境將持續到 2022 年一段時間。我們將在下個季度的電話會議上進一步介紹 2022 年的最新情況。鑑於我們認為終端市場對我們產品和服務的需求沒有任何變化，隨著經濟恢復到更正常化的狀態，我們預計年度總收入將增加 50% 左右。

Moving to earnings per share. We are narrowing the range to a $0.21 to $0.25 non-GAAP loss per share for the full year from our previous range of $0.17 to $0.25. While our investment level is restrained compared to our original plans, we have also included in our EPS guidance expectations for a onetime litigation expense that we expect to incur in the fourth quarter and which we had not included in last quarter's guidance.

轉向每股收益。我們將全年非 GAAP 每股虧損範圍從先前的 0.17 美元至 0.25 美元縮小至 0.21 美元至 0.25 美元。雖然我們的投資水準與我們最初的計劃相比受到限制，但我們也在每股收益指引預期中納入了我們預計將在第四季度產生的一次性訴訟費用，而我們沒有將其納入上季度的指導中。

Our expectations assume a share count of approximately 202 million shares based on an estimate of weighted average shares. The share count could change based on future warrant and stock option exercise activity. Please refer to our investor presentation on our website for more information about the share count.

根據加權平均股的估計，我們的預期假設股數約為 2.02 億股。股份數量可能會根據未來的認股權證和股票選擇權行使活動而變化。請參閱我們網站上的投資者介紹，以了解有關股份數量的更多資訊。

In sum, we remain very excited about our market opportunity. Demand is there, and we believe we can navigate successfully through the economic turbulence. I am confident in our team's ability to execute. In fact, this team has successfully navigated other challenges in the past. Therefore, we expect to make steady progress towards our long-term objective, which is to digitize and identify the entire built world.

總而言之，我們對市場機會仍然感到非常興奮。需求是存在的，我們相信我們能夠成功度過經濟動盪。我對我們團隊的執行能力充滿信心。事實上，該團隊過去曾成功應對其他挑戰。因此，我們期望在實現我們的長期目標方面取得穩步進展，即數位化和識別整個建築世界。

Now I would like to turn the call back over to RJ. Thank you, JD. In summary, I couldn't be more proud of our team and the innovation we are delivering to our customers every day. We are further cementing our already strong leadership position, and we see significant potential for growth ahead. I am very bullish on our strategy and outlook. It is a matter of timing, sequencing and navigating the waters ahead towards massive adoption. We are successfully managing the macro effects currently impacting the tech industry at large, and we are continuing to stay nimble, adapting quickly to minimize turbulence in the short-term. Our vision, strategy and long-term plans remain as ambitious as ever, and we believe we are well on track to lead the industry over the next decade.

現在我想將電話轉回給 RJ。謝謝你，JD。總之，我為我們的團隊以及我們每天為客戶提供的創新感到無比自豪。我們正在進一步鞏固我們業已強大的領導地位，並且我們看到了未來巨大的成長潛力。我非常看好我們的策略和前景。這是一個時間、順序和引導大規模採用的問題。我們正在成功地管理當前影響整個科技產業的宏觀影響，並且我們將繼續保持靈活性，快速適應以盡量減少短期的動盪。我們的願景、策略和長期計劃仍然一如既往地雄心勃勃，我們相信我們有望在未來十年引領產業。

As we've said before, our growth opportunity ahead will be measured in years and decades to be captured through our proprietary technology platform, thoughtful execution and bold leadership.

正如我們之前所說，我們未來的成長機會將以數年和數十年的時間來衡量，並透過我們的專有技術平台、深思熟慮的執行和大膽的領導力來抓住。

Operator, we are now ready for questions.

接線員，我們現在準備好提問了。

(Operator Instructions) Our first question comes from Dan Ives from Wedbush.

（操作員說明）我們的第一個問題來自 Wedbush 的 Dan Ives。

Yes. Can you talk about just scaling up more enterprise-wide deals? I mean, obviously, you have more success on larger and larger deals, especially when we think about real estate and some of the other verticals. Could you just talk about from a pipeline perspective? And just directionally, how you see that trending from where it is today?

是的。能談談擴大更多企業範圍的交易嗎？我的意思是，顯然，你在越來越大的交易上會取得更大的成功，特別是當我們考慮房地產和其他一些垂直行業時。能從管道的角度談談嗎？從方向上看，您如何看待目前的趨勢？

Sure. Happy to. Thanks, Dan. As I've said before, the fastest-growing and most exciting segment of the business at Matterport is the enterprise. And that absolutely continues to be the case through Q3 and will continue well through Q4 and into '22. And there's a couple of reasons for that. One is these enterprises represent very large footprints, multiple buildings, hundreds, even thousands of buildings and millions and millions of square footage of physical space to digitize, right? And it provides a very efficient mechanism for us through winning a large enterprise account to have long-term revenue -- subscription revenue upside from there. And you mentioned specifically how we look at that from a residential real estate point of view, what we've been doing over the course of the last couple of years, is migrating from Matterport's solution being deployed through SMB, small office, real estate brokerages and offices into enterprise deals themselves, right? You've seen the various announcements, our global partnership with JLL and Cushman Wakefield on the commercial side. We have similar enterprise engagements now with Compass and Keller Williams and many others, where we are now working with much larger portfolios of residential real estate at once, right? And we are building Matterport's offering into the service offerings of the brokerages, so that it becomes a much more seamless component of every listing in residential real estate. We continue to expand our partnership with Redfin and CoStar and Apartments.com and others, where there is enormous traffic from real estate shoppers out there that is putting Matterport front and center in front of all of that traffic.

當然。高興。謝謝，丹。正如我之前所說，Matterport 成長最快、最令人興奮的業務部門是企業。這種情況絕對會持續到第三季度，並將持續到第四季度直至 22 年。這有幾個原因。一是這些企業代表著非常大的佔地面積、多座建築物、數百甚至數千座建築物以及數百萬平方英尺的實體空間來數位化，對吧？它為我們提供了一個非常有效的機制，透過贏得大型企業帳戶來獲得長期收入——訂閱收入的上升。您具體提到了我們如何從住宅房地產的角度看待這個問題，過去幾年我們一直在做的事情是從透過中小企業、小型辦公室、房地產經紀公司部署的 Matterport 解決方案進行遷移和辦公室本身變成企業交易，對嗎？您已經看到了各種公告，以及我們與 JLL 和 Cushman Wakefield 在商業方面的全球合作夥伴關係。我們現在與 Compass 和 Keller Williams 等許多公司都有類似的企業合作，我們現在正在同時處理更大的住宅房地產投資組合，對嗎？我們正在將 Matterport 的產品融入經紀公司的服務產品中，以便它成為住宅房地產中每個上市項目的更無縫的組成部分。我們繼續擴大與 Redfin、CoStar 和 Apartments.com 等的合作夥伴關係，這些網站上有來自房地產購物者的巨大流量，這使得 Matterport 處於所有流量的中心位置。

And just a bit of a follow-up. When you think about partnerships like Facebook or Meta, is that something we should expect more and more of in terms of those types of partnerships, especially as we're starting to see more and more of a focus from tech companies, especially moving to Metaverse? Well, what Matterport has been doing for the past 10 years is reality capture, right? That is creating a dimensionally accurate photorealistic digital twin of any physical space and creating a virtual instantiation of that. In fact, we've got the largest spatial data library of digital twins in the world. And if you think about technology partnerships like that with Facebook. This is a very important engagement for us for the advancement of AI and data science for autonomous agents, both physical robots and virtual agents and virtual assistance, critical foundational work that today can't happen safely or scientifically enough in the physical world, they need these virtual environments to advance those capabilities, and it's critical. And Matterport is very keen to see these advancements that these groups make using our high Fidelity precision digital twins and the implications of that become great value-add, we start to get insights and intelligence about how to interoperate in both the physical world, but also inside these digital twins. And let's remember that every matter for digital twin on our platform is VR-ready. And they happen to look great. They're quite immersive inside an oculus headset or really any VR headset for that matter. And we've known this for years, right? Our platform is providing a proliferation of VR-ready content from Matterport millions of 3 digital twins, including museums, historic landmark, stunning properties and destinations all over the world, it's easy to see how a platform like ours could be very interesting, very relevant in the future of all of these virtual platforms that are getting created, including the Metaverse.

還有一點後續行動。當你想到像Facebook 或Meta 這樣的合作夥伴關係時，我們應該對這些類型的合作夥伴關係抱有越來越多的期望，特別是當我們開始看到科技公司越來越多地關注這一點時，尤其是轉向Metaverse ？那麼，Matterport 在過去 10 年裡一直在做的是現實捕捉，對嗎？這就是為任何實體空間創建尺寸精確、逼真的數位孿生，並創建其虛擬實例。事實上，我們擁有世界上最大的數位孿生空間資料庫。如果你考慮一下與 Facebook 的技術合作關係。對我們來說，這是一項非常重要的參與，旨在推動自主代理（包括實體機器人、虛擬代理和虛擬輔助）的人工智慧和資料科學的發展，這是當今在物理世界中無法安全或科學地進行的關鍵基礎工作，他們需要這些虛擬環境來提升這些功能，這一點至關重要。Matterport 非常熱衷於看到這些團體使用我們的高保真精度數位孿生所取得的進步，以及其影響將成為巨大的增值，我們開始獲得有關如何在物理世界中互操作的見解和情報，而且在這些數字雙胞胎中。讓我們記住，我們平台上數位孿生的所有事項都已為 VR 做好了準備。而且它們恰好看起來很棒。它們在 oculus 耳機或任何 VR 耳機中都具有身臨其境的感覺。我們已經知道這一點很多年了，對吧？我們的平台正在提供來自Matterport 數以百萬計的3 個數位孿生的大量VR 就緒內容，包括博物館、歷史地標、令人驚嘆的房產和世界各地的目的地，很容易看出像我們這樣的平台如何變得非常有趣、非常相關未來所有這些正在創建的虛擬平台，包括元宇宙。

Our next question comes from John Walsh of Crédit Suisse.

我們的下一個問題來自瑞士信貸銀行的約翰·沃爾什。

Good afternoon. Yes. Great. So I guess the first question is kind of around expectations of the Android launch. Obviously, you're going to be covering a big installed base. For modeling purposes, should we think the slope looks similar to the iPhone deployment just on a potentially higher number of devices? Or how would you kind of help us think about that slope?

午安.是的。偉大的。所以我想第一個問題是關於 Android 發布的預期。顯然，您將覆蓋一個龐大的安裝基礎。出於建模目的，我們是否應該認為斜率看起來與 iPhone 部署類似，只是在可能數量更多的裝置上？或者你會如何幫助我們思考那個斜坡？

Sure. Let me take you through a couple of things. They are not exactly the same fruit. It's not quite an apples-to-apples comparison, and the slope will be different. First and foremost, yes, the opportunity with Android is enormous. It's 75% of the global smartphone installed base, right? So first of all, it's a massive footprint, and it's especially well-penetrated internationally and for our expansion markets that we're focused on. The benefit that Android gets is more than 2 years of R&D on smartphone capture that we worked on with Apple and iPhone that we're able to bring to the first version of Matterport for Android. So it is a much stronger and more mature product for a 1.0 than we've ever put out before. And as a result of that, we're also bringing it in first to our more mature markets. So rather than a broad umbrella launch to everybody and anyone, we are focusing on bringing it out in a more methodical method across each of our key vertical markets, starting with travel and hospitality and then moving to ROE or residential real estate and an insurance and the enterprise. And so you're going to see a sequence of events and sub launches that follow with this across Q4 and well across -- all across '22, in fact, in a rolling thunder fashion. And we believe that the combination of this with increased marketing and go-to-market for all of our Matterport for Mobile that includes iPhone as well, the powerful capabilities of iPhone plus LiDAR are going to be not only our best mobile offering yet by far and away, but we think it also has the greatest growth potential for the future.

當然。讓我帶您了解幾件事。它們不是完全相同的水果。這不完全是同類比較，斜率也會不同。首先，也是最重要的一點，Android 的機會是巨大的。它佔全球智慧型手機安裝量的 75%，對吧？首先，它的足跡非常廣泛，而且在國際上以及我們重點關注的擴張市場中的滲透率尤其高。Android 獲得的好處是我們與 Apple 和 iPhone 合作進行了 2 年多的智慧型手機捕獲研發，我們能夠將其帶入 Android 版 Matterport 的第一個版本。因此，對於 1.0 來說，它是比我們以前推出的更強大、更成熟的產品。因此，我們也首先將其引入我們更成熟的市場。因此，我們不是向所有人和任何人進行廣泛的總體發布，而是專注於以更有條理的方法在我們的每個關鍵垂直市場中推出它，從旅遊和酒店業開始，然後轉向ROE 或住宅房地產以及保險和企業。因此，您將在第四季度甚至整個 22 年看到一系列事件和子發布，事實上，以滾滾雷霆的方式發生。我們相信，將這一點與我們所有 Matterport for Mobile（包括 iPhone）的營銷和上市相結合，iPhone 和 LiDAR 的強大功能將不僅是我們迄今為止最好的行動產品但我們認為它未來也具有最大的成長潛力。

Great. And then maybe as a second question, when we look at your R&D increase, can you talk about where some of that spending is focused on? And I'd love to get an answer in the context of you benefit from a lot of the camera and device R&D that Apple and the Android device manufacturers are obviously doing to improve their own hardware. So just curious within the context of that, how you think about your R&D priorities and what are some of the projects you're funding?

偉大的。然後也許作為第二個問題，當我們看到你們的研發成長時，您能談談其中一些支出的重點在哪裡嗎？我很想得到一個答案，因為您可以從蘋果和 Android 設備製造商顯然正在做的大量相機和設備研發中受益，以改進自己的硬體。因此，我很好奇，在這種情況下，您如何看待您的研發優先事項以及您資助的一些項目是什麼？

Sure. First, on that piece, our capture Ubiquity strategy that moved us from being exclusively built around our own Pro 2 camera, which still for many of our markets, enterprise, mid-market, SMB, it is an absolute work horse and very critical to the strategy. But if we want to dramatically increase our rate of digitizing the built world, things like smartphone capture and third-party devices are very important. And benefiting from the R&D investments of much bigger technology platforms like Google and Samsung and Apple is hugely beneficial to us. That enables us to shift more of our focus on to the platform. The Matterport Spatial Data platform really represents the future of the company. We are building and deploying enterprise-grade add-ons and capabilities for all of our vertical markets that are dramatically accelerating our penetration and success in construction, like we talked about BIM file in the insurance category with true plan and high fidelity insurance documentations and claim processing, we're kind of changing the game after the capture with all of the value-added technologies and capabilities that we're bringing to the Matterport Spatial Data platform with much, much more to come there. You've heard me talk a lot about the 2 phases of Matterport, Phase I being the digitization of the built world. And then Phase II, what do we do with all of the data once we have it, right? And what we are providing for our customers, what we call the datafication of the built world or unlocking all kinds of digital building insights and analytics that can push the capabilities of their property and asset management much, much further and achieve much greater ROI and value increase using just the digital twin, right? And so this is a very intentional part of the strategy that we embarked on a few years ago that allowed us to put the center of our R&D on the data side of the house.

當然。首先，就這一點而言，我們的捕捉無處不在策略使我們不再完全圍繞我們自己的Pro 2 相機構建，對於我們的許多市場、企業、中端市場、中小企業來說，它仍然是一個絕對的主力，對於策略。但如果我們想大幅提高建築世界的數位化速度，智慧型手機捕捉和第三方設備等技術就非常重要。受益於Google、三星和蘋果等更大技術平台的研發投資對我們來說非常有利。這使我們能夠將更多的注意力轉移到平台上。Matterport 空間資料平台真正代表了公司的未來。我們正在為所有垂直市場構建和部署企業級附加組件和功能，這將極大地加速我們在施工中的滲透和成功，就像我們談到的保險類別中的BIM 文件，具有真實的計劃和高保真保險文件和索賠處理方面，我們在捕獲後利用我們為 Matterport 空間數據平台帶來的所有增值技術和功能來改變遊戲規則，還有更多更多功能。你已經聽我談論過很多關於 Matterport 的兩個階段，第一階段是建築世界的數位化。然後是第二階段，一旦我們獲得了所有數據，我們該如何處理這些數據，對嗎？我們為客戶提供的服務，我們稱之為建築世界的數據化，或者解鎖各種數位建築洞察和分析，可以進一步推動他們的財產和資產管理能力，並實現更大的投資回報率和價值僅使用數字孿生來增加，對嗎？因此，這是我們幾年前開始實施的策略的一個非常有意的部分，該策略使我們能夠將研發中心放在數據方面。

Our next question comes from Brent Bracelin of Piper Sandler.

我們的下一個問題來自 Piper Sandler 的 Brent Bracelin。

A handful of questions. Maybe I'll start with JD and finish with RJ. JD, you talked about some supply constraints impacting late in September. You think you framed that as 15%, a little over $1 million of product revenue. Should we think about that as the monthly run rate drag on product and should think more like a $3 million potential drag on product in Q4? Is that the right thinking? And then also, could you address timing? When would you think you could start to get more of a supply balance? Could that also impact next year? Or do you think you could get this supply chain constraints kind of fixed sooner than that?

幾個問題。也許我會從 JD 開始，以 RJ 結束。京東，您談到了 9 月底影響的一些供應限制。您認為您將其設定為產品收入的 15%，略高於 100 萬美元。我們是否應該考慮到每月運行率會拖累產品，並且應該更多地考慮第四季度 300 萬美元的潛在拖累產品？這是正確的想法嗎？另外，您能談談時間安排嗎？您認為什麼時候可以開始實現更多的供應平衡？這也會影響明年嗎？或者您認為您可以更快地解決供應鏈限制嗎？

Yes. Thanks, Brent. So from the perspective of the constraints themselves, I did -- I think I did say this a bit earlier. I think it will continue into next year. It's a little bit unclear how long it will take for those to be -- for those to subside for us in particular, we're obviously working pretty actively on it now, working with our suppliers and working with the logistics channels to mitigate. And so we'll update the group when new events occur in our next conference call, as we mentioned. From the magnitude, yes, I think that 15%, 15% sort of magnitude persists into Q4. And while these macro events are in front of us, sort of pacing our ability to deploy to the demand that's there, I think that scale of an impact is appropriate looking forward.

是的。謝謝，布倫特。因此，從限製本身的角度來看，我確實——我想我確實早些時候說過了。我認為這種情況會持續到明年。目前尚不清楚這些問題需要多長時間——特別是對我們來說，這些問題會消退，我們現在顯然正在非常積極地努力，與我們的供應商合作，並與物流管道合作以減輕影響。因此，正如我們所提到的，我們將在下次電話會議中發生新事件時更新該小組。從幅度來看，是的，我認為 15%、15% 的幅度持續到第四季。雖然這些宏觀事件就在我們面前，在某種程度上調整了我們根據現有需求進行部署的能力，但我認為，展望未來，影響的規模是適當的。

Fair enough. And then did you see any sort of shift in the quarter as it relates to kind of the residential versus commercial mix, either on new subscribers or pipeline. Can you remind us the mix today? And was there any sort of meaningful change in that mix that you saw in the quarter?

很公平。然後，您是否看到本季有任何變化，因為它涉及住宅與商業組合的類型，無論是新用戶還是管道。能提醒我們今天的搭配嗎？您在本季看到的這種組合是否發生了任何有意義的變化？

Yes. So we like to talk about end customer markets in terms of our 5 now 6 key vertical markets. One, of course, is a big one of real estate. And inside of that, we have residential real estate and commercial real estate, kind of the promotion use cases, you could say. And then the other vertical markets from facilities to insurance, travel and hospitality and so forth. So in terms of the mix, we often talk about real estate and all other. Real estate in the quarter was about 2/3 of the revenue. That has been consistent over the last several quarters. And then, of course, the all other is the balance. And in terms of going forward, we actually have an increasing number of very meaningfully sized enterprise bookings in not just real estate but also in the other vertical markets. So I think it will be a bit dynamic. But I think you'll see as well other vertical markets start to grow as a percentage of the total as those larger bookings start to deploy over the next several quarters.

是的。因此，我們喜歡從 5 個現在 6 個關鍵垂直市場的角度來討論最終客戶市場。其中之一當然是房地產。其中，我們有住宅房地產和商業房地產，可以說是促銷用例。然後是其他垂直市場，從設施到保險、旅行和酒店等。因此，就組合而言，我們經常談論房地產和其他所有內容。該季度的房地產業務約佔收入的2/3。這在過去幾個季度中一直保持一致。當然，其他的就是平衡。就未來而言，我們實際上不僅在房地產領域而且在其他垂直市場中都有越來越多的規模非常大的企業預訂。所以我認為它會有點動態。但我認為，隨著這些較大的預訂在接下來的幾個季度開始部署，其他垂直市場在總數中所佔的百分比也開始成長。

Got it. Helpful color there. And then I guess 2 quick ones for RJ, if I should. 2021 has been a transitional year. Obviously, you completed the merger. Recently here, you obviously now dealing with some supply constraints. How should we frame kind of the second half of this year? Is this really a transitional year where you're really focused on trying to drive acceleration next year? Help us just maybe frame kind of how we should think about Q3, Q4? How should we think about the opportunity that you have looking out to 2022?

知道了。那裡有有用的顏色。如果可以的話，我想 RJ 也有 2 個快速的。2021年是過渡的一年。顯然，您完成了合併。最近在這裡，您顯然正在處理一些供應限制。今年下半年我們該如何規劃？今年真的是過渡的一年嗎？您真的會專注於推動明年的加速發展嗎？幫助我們框架一下我們該如何思考第三、第四季？我們該如何看待 2022 年您所期待的機會？

That's right. The first, yes, it was a transformational year for Matterport in many respects with course going public right in the middle of the year. So we didn't have the benefit of a full year post-transaction use of proceeds to really fully fleet up and scale up this business in a full 4-quarter period we're coming out of the transaction in the middle of Q3, and we are accelerating. And we've been accelerating year-on-year in all of the right ways. But there's no question that '21, we have been laying the foundation and building the capacity in the organization for the next stage of growth at Matterport without towns. And despite some of the challenges that we're seeing out there and the market is very dynamic. It's very competitive for talent. We are faring extraordinarily well, I would say, amongst our peers, a couple of interesting data points for you. As we mentioned, we've added over 75 people to the organization, which is a relatively large number when we were sub 300 people prior to that quarter, gives you a sense of the percentage of growth in the organization and of the candidates that are coming in, we're seeing over 90% acceptance rate, which is really top of the industry. And it shows the strength and interest and appeal of Matterport as a future career of choice for a very large employee base that we're going after. So I'm feeling very encouraged by it despite having to navigate these challenges. I think we're faring better than quite a lot of companies out there. And in addition to building and bringing to market a number of our new commercial offerings, which you could see quite a few of them that came to market in Q3 and even right here at the start of Q4, there's going to be a few more coming. There's a lot of building that's happening in this quarter that's setting us up for greater acceleration in '22 without question.

這是正確的。是的，第一年對 Matterport 來說在許多方面都是轉型的一年，課程在年中公開。因此，我們沒有從交易後一整年的收益中受益，無法在整個 4 季內真正全面擴大和擴大這項業務，我們將在第三季中期完成交易，我們正在加速。我們一直在以所有正確的方式逐年加速。但毫無疑問，21 年來，我們一直在為沒有城鎮的馬特波特下一階段的發展奠定基礎並建立組織能力。儘管我們看到了一些挑戰，但市場仍然非常活躍。人才競爭十分激烈。我想說，在我們的同行中，我們的表現非常好，有一些有趣的數據點供您參考。正如我們所提到的，我們已經向組織中增加了超過75 名員工，當我們在該季度之前的員工人數不足300 人時，這個數字相對較大，可以讓您了解組織中的增長百分比以及候選人的成長百分比。進來後，我們看到接受率超過 90%，這確實是業界頂尖的。它展示了 Matterport 的實力、興趣和吸引力，作為我們正在追求的龐大員工群的未來職業選擇。因此，儘管我必須應對這些挑戰，但我還是感到非常鼓舞。我認為我們的表現比很多公司都要好。除了建立我們的許多新的商業產品並將其推向市場之外，您可以看到其中相當多的產品已在第三季甚至第四季初上市，而且還會有更多產品即將推出。本季發生的大量建設無疑為我們在 22 年取得更大的加速做好了準備。

Great. So my last question is on '22. A lot of new things here. As we think about GovCloud offering, Android, you're expanding capture services into 80 cities. Obviously, international push. What are you most excited about as you think about all these things here, what are you most excited about as you think about the opportunity you have for 2022?

偉大的。我的最後一個問題是關於 22 號的。這裡有很多新東西。當我們考慮 GovCloud 產品、Android 時，您正在將採集服務擴展到 80 個城市。顯然，國際推動。當您想到這裡的所有這些事情時，您最興奮的是什麼？當您想到 2022 年的機會時，您最興奮的是什麼？

Sure. There's a lot to be excited about here at Matterport. I think our strategy is firing on all cylinders. Our GEO expansion represents an enormous untapped opportunity, especially in Asia Pacific, where we're really scaling up our nascent group and footprint out of our Singapore headquarters. Europe also represents tremendous growth opportunity. The enterprise, as I spoke about, I'm super thrilled with. It's our fastest-growing segment that we're continuing to double down on. But the thing that really excites me most is datafication. And we are really rounding a corner now of unlocking tremendous value, tremendous revenue add-ons through the platform. Right, and being able to tap into this spatial data and create a services platform after the capture, as I described. And we are putting an enormous amount of focus, attention and resources on really bringing ratification forward in '22. It's really where we're building a big chunk of the future of the company on the just unlimited potential of datafication and the value proposition, not just from Matterport, but from our third-party ecosystem of fantastic enterprise developer partners and just enterprise companies in all of these verticals that are coming on to our platform every week to extend the value proposition and the offering of Matterport much further with our own technologies and solutions running on top of the Matterport spatial data into our top verticals. That's where I'm most excited. Helpful color, very clear. And thanks for taking my questions.

當然。Matterport 有很多令人興奮的事情。我認為我們的策略是全力以赴。我們的 GEO 擴張代表著一個巨大的未開發機會，特別是在亞太地區，我們正在真正擴大我們的新生集團和新加坡總部以外的業務範圍。歐洲也代表著巨大的成長機會。正如我所說，我對這個企業感到非常興奮。這是我們成長最快的細分市場，我們將繼續加倍努力。但真正讓我最興奮的是數據化。我們現在確實即將透過該平台釋放巨大的價值和巨大的收入附加價值。是的，正如我所描述的，能夠利用這些空間資料並在捕獲後創建一個服務平台。我們投入了大量的精力、注意力和資源來真正推動 22 年的批准。這確實是我們在數據化和價值主張的無限潛力上建立公司未來的很大一部分的地方，不僅來自 Matterport，還來自我們由出色的企業開發人員合作夥伴和企業公司組成的第三方生態系統。所有這些垂直領域每週都會出現在我們的平台上，透過我們自己的技術和解決方案在Matterport 空間資料之上運行到我們的頂級垂直領域，從而進一步擴展Matterport 的價值主張和產品。這就是我最興奮的地方。顏色很有幫助，非常清晰。感謝您回答我的問題。

Our next question comes from Yun Kim of Loop Capital Market.

我們的下一個問題來自 Loop Capital Market 的 Yun Kim。

RJ and JD, congrats on a solid quarter, especially on the user growth. First, apologies for the background noise, I'm traveling today. RJ, following up on the earlier question, I know it's early, but what is your expectation regarding the monetization or conversion rate of the Android capture versus the iPhone users, meaning the conversion rate to the paid subscribers? And also, if you can just give us any insight into geographical makeup of the Android versus iPhone app downloads?

RJ 和 JD，恭喜季度表現強勁，尤其是用戶成長。首先，對背景噪音表示歉意，因為我今天要去旅行。RJ，繼續之前的問題，我知道現在還為時過早，但是您對 Android 捕獲者與 iPhone 用戶的貨幣化或轉換率（即付費訂閱者的轉換率）的期望是多少？另外，您能否讓我們深入了解 Android 與 iPhone 應用程式下載的地理構成？

Sure. Well, it is super early days. We're just a couple of days into the launch. So I hesitate to make any bold predictions or extrapolations from the actual data. So I'm going to refrain from doing that. But what I can tell you is we have very strong expectations on conversion, on deployment, on adoption because of how large the Android market share and global footprint is. And I see it being at least as strong and at least as important. And I think potentially reaching even further than Matterport for iPhone, just given the sheer volume and distribution, of active smartphones out there in the world on the Android platform. The difference that I will caution and point out is it's not as easy to roll out to the entire installed base of Android because it's a very fragmented ecosystem. We have hundreds, if not thousands, of different handset manufacturers, and we have a matrix of almost as many different versions of operating systems and layers on top of the operating systems that these vendors will put on in a proprietary fashion. So as you know with all Android developers, that just adds a lot of twists and challenges to building a product that works great on every device. Having said that, we've got one of the best engineering teams in mobile in the industry, and we're making tremendous progress across the lion's share of the most important devices relevant to our capture needs. So with those pieces combined, I'm very bullish on the outlook of what Android can deliver for us. And it also provides a lower cost of ownership for our customers, right? For #1, they can just start using the phone in their pocket. If they want to cross over to Matterport historically, an Android customer have to go out and buy an iOS device, right, a phone or a tablet. And that was not an automatic purchase consideration, and we virtually eliminated that now for really the entire global digital citizens. So I have -- because of that, my expectations are as high as they've ever been for the role that smartphone capture is going to play. And like I said, it's going to play an important role for us in some very new markets, including the enterprise.

當然。嗯，現在還很早。我們距離發布僅幾天了。因此，我猶豫是否要根據實際數據做出任何大膽的預測或推論。所以我會避免這麼做。但我可以告訴你的是，由於 Android 市場份額和全球影響力巨大，我們對轉換、部署和採用抱有非常強烈的期望。我認為它至少同樣強大，至少同樣重要。我認為，考慮到全球 Android 平台上活躍智慧型手機的絕對數量和分佈，它的影響力可能會比 iPhone 的 Matterport 更進一步。我要警告並指出的區別是，將其推廣到 Android 的整個安裝基礎並不容易，因為它是一個非常分散的生態系統。我們擁有數百家（如果不是數千家）不同的手機製造商，並且我們擁有幾乎同樣多的不同版本作業系統和作業系統頂層的矩陣，這些供應商將以專有方式安裝這些作業系統。正如所有 Android 開發人員都知道的那樣，這只會為建置在所有裝置上都能正常運作的產品增加許多曲折和挑戰。話雖如此，我們擁有業界最好的行動工程團隊之一，並且我們在與我們的採集需求相關的大部分最重要設備方面取得了巨大進展。因此，將這些內容結合起來，我非常看好 Android 能為我們帶來的前景。它還為我們的客戶提供了更低的擁有成本，對吧？第一，他們可以開始使用口袋裡的手機。如果 Android 客戶想跨界到歷史上的 Matterport，他們必須出去購買 iOS 設備，對吧，手機或平板電腦。這並不是自動購買的考慮因素，我們現在實際上為整個全球數位公民消除了這一點。因此，我對智慧型手機捕捉將發揮的作用抱有前所未有的高期望。正如我所說，它將在一些非常新的市場（包括企業市場）中為我們發揮重要作用。

And then also, RJ, you made some impressive partner announcements over the past couple of quarters. Can you just talk about how those relationships have been ramping? And when can we start to see some material contribution from these high-profile partnership announcements?

RJ，您在過去幾季發布了一些令人印象深刻的合作夥伴公告。您能談談這些關係是如何發展的嗎？我們什麼時候才能開始看到這些備受矚目的合作關係公告帶來的實質貢獻？

Yes. The partnerships are going very well. And it, I think, is an indication of the maturity of our enterprise platform, that third-party ecosystem I'm talking about, it's one thing to agree to terms and agree in principle to lock arms and go-to-market, but to have an actual technology solution that can deliver value immediately is what I'm most excited about, most impressed with. And I can say for a product that we haven't even formally begun marketing and advertising, which is Matterport BIM file. We talked about a little bit earlier in the earnings call. Is already at revenue and has already won some very notable customer wins as a result. But it's a product that's not even been in the market for 30 days yet. And so this is true of all of them. Our Apex announcements in the retail category, bringing Matterport to the use case of remote facilities management for retailers that have thousands of physical locations that want to manage inspections, facilities and contents and buildings from anywhere in the world using just a cell phone. That has been hugely successful with some of the biggest names in retail and the list contingents, right? Our announcements with Verisk and the insurance category for the past couple of years, insurance has been one of our fastest-growing new verticals. And the reason for that is being able to provide new technologies and capabilities for claims processing, claims assessment and management and partnering up with arguably the biggest player in the industry with Verisk, and there claims software platform has been an enormous advantage for us. That's gotten all of these partnerships, not just sort of signed and activated, but really producing. Nothing to report in terms of any specific expectations with the partners. But certainly, from a go-to-market point of view, they've exceeded our expectations in the early going. So I'm looking forward to continuing to scale them very successfully in 2022.

是的。合作夥伴關係進展順利。我認為，這表明我們的企業平台，即我所說的第三方生態系統的成熟度，同意條款並原則上同意鎖定武器並進入市場是一回事，但是擁有一個能夠立即創造價值的實際技術解決方案是我最興奮、印象最深刻的。我可以說，對於一個產品，我們甚至還沒有正式開始行銷和廣告，這就是 Matterport BIM 檔案。我們在財報電話會議的早些時候討論過這一點。已經實現收入，並因此贏得了一些非常引人注目的客戶。但該產品上市不到 30 天。這對他們所有人來說都是如此。我們在零售類別中發布的Apex 公告，將Matterport 引入了遠端設施管理的用例中，這些零售商擁有數千個實體位置，希望僅使用手機即可從世界任何地方管理檢查、設施和內容以及建築物。這對零售業和榜單上的一些知名人士來說非常成功，對吧？過去幾年，我們與 Verisk 和保險類別發布的公告顯示，保險一直是我們成長最快的新垂直產業之一。原因是能夠為索賠處理、索賠評估和管理提供新技術和功能，並與可以說是業內最大的參與者 Verisk 合作，而索賠軟體平台對我們來說是一個巨大的優勢。這就獲得了所有這些合作夥伴關係，不僅是簽署和激活，而且是真正的生產。對於合作夥伴的任何具體期望，無需報告。但可以肯定的是，從進入市場的角度來看，它們超出了我們早期的預期。因此，我期待在 2022 年繼續成功地擴展它們。

Our next question comes from Sophie Lee of Berenberg.

我們的下一個問題來自貝倫貝格的索菲·李。

I just wanted to ask a question on the Android launch. Right now, you have a pretty impressive conversion rate of 8% conversion from free users to paid users. And you say that free users usually convert within 45 days. So if we bring in a lot of Android users to the mix, how would you see the conversion rate and time to conversion change?

我只是想問一個關於 Android 發布的問題。目前，從免費用戶到付費用戶的轉換率為 8%，非常令人印象深刻。而且你說免費用戶通常會在 45 天內轉換。因此，如果我們引入大量 Android 用戶，您會如何看待轉換率和轉換時間的變化？

Yes. So again, we haven't set any specific parameters or defined expectations specifically for Android at this point. And certainly, just a few days in, it would be a little premature for us to call that. Again, what I can tell you about it is there are some things we need to understand with the dynamics of the specific personas and profiles of the Android customers that are coming to Matterport. But we believe that we're going to have long-term, equal, if not greater success with the Android platform and all of our new Android customers as we have with iPhone. And as I get more road under the tires and a bit more traction with it, I will definitely be keeping everybody posted, but we're very excited about it and very optimistic about the road ahead with Android.

是的。再說一次，我們目前還沒有專門針對 Android 設定任何特定參數或定義期望。當然，就在幾天后，我們現在這樣稱呼還為時過早。再說一次，我可以告訴你的是，我們需要了解一些關於即將來到 Matterport 的 Android 客戶的特定角色和個人資料的動態。但我們相信，我們的 Android 平台和所有新的 Android 客戶將取得與 iPhone 一樣的長期、同等甚至更大的成功。隨著我在輪胎下行駛的道路越來越多，牽引力也越來越大，我肯定會隨時向大家通報情況，但我們對此感到非常興奮，並對 Android 的未來發展非常樂觀。

All right. That's very helpful. Just one more question on the expansion opportunity for real estate customers. So Matterport already has top residential and commercial brokerages as customers. But what does the expansion opportunity look like? Is it signing on more models? Or are they requesting to use more add-ons or expanding use cases in other locations globally? And how should we, like, think about the magnitude of these expansions for large commercial and residential real estate brokerages?

好的。這非常有幫助。還有一個關於房地產客戶的擴張機會的問題。因此，Matterport 已經擁有頂級住宅和商業經紀公司作為客戶。但擴張機會是什麼樣的呢？是否會簽約更多車型？或者他們是否要求使用更多附加元件或在全球其他地點擴展用例？我們該如何思考大型商業和住宅房地產經紀公司擴張的規模？

Yes. First and foremost, it is expanding the digital footprint. We're supremely focused on digitizing the built world because it is such a massive TAM, 4 billion buildings, $20 billion monetizable spaces out there once digitized by Matterport. That is what we're going after. And so when we look at residential and commercial, we're signing all of the biggest residential brokerages in the world and the largest commercial real estate brokerages in the world as well as all of the large technology, real estate technology portals to the Matterport platform and partnership ecosystem as well. And what we're keenly focused on there is making sure that the digitization throughput gets as close to 100% as possible, right? We want every building, every space to have its digital twin. We've made it free. If anybody wants to pull out their smartphone in their pocket and do it themselves or commission it through capture services or their brokerage that's now going to have Matterport built in. So we have been laying the foundation for that globally, and there is still work to do internationally without a doubt, especially Asia Pacific and parts of Europe, where we're continuing to put our hooks in and continuing to establish Matterport as the digital twin standard there. It's going very well, but it's earlier days. So the GEO expansion is a key part of that. And that's the sequencing as we see it, right, really pushing for digitization, really pushing for GEO expansion. And then the datafication and the add-ons are right behind it because many of our customers that have been with us now for even 6 months. But certainly, those that have been with us for a year, 2 years or 5 years, all are asking for value-added insights, analytics, add-ons for everything from virtual staging to a, call it, a personal appraisal of a property and for documenting purposes for long-term insurance records. And we love that, right? These are the kinds of things that are both bringing our developers to the platform that have a lot to offer and to sell as add-on subscriptions to our customers with a great unit economics for the customer and great business for the Matterport ecosystem. And that's why I'm so excited about datafication in the future of the company. Ladies and gentlemen, this does conclude today's conference. Thank you all for participating. You may all disconnect. Have a great day.

是的。首先也是最重要的是，它正在擴大數位足跡。我們非常關注建築世界的數位化，因為一旦被 Matterport 數位化，它就是一個巨大的 TAM、40 億棟建築、200 億美元的可貨幣化空間。這就是我們所追求的。因此，當我們考慮住宅和商業時，我們正在與世界上所有最大的住宅經紀公司和世界上最大的商業房地產經紀公司以及 Matterport 平台的所有大型技術、房地產技術入口網站簽約以及合作夥伴生態系統。我們非常關注的是確保數位化吞吐量盡可能接近 100%，對吧？我們希望每棟建築、每個空間都有其數位孿生。我們已經讓它免費了。如果有人想掏出口袋裡的智慧型手機並自行操作或透過捕獲服務或他們的經紀公司委託操作，那麼現在將內建 Matterport。因此，我們一直在全球範圍內為此奠定基礎，毫無疑問，國際上仍有工作要做，特別是亞太地區和歐洲部分地區，我們將繼續在這些地區投入工作，繼續將 Matterport 打造成數位孿生那裡的標準。一切進展順利，但現在還為時過早。因此，GEO 擴張是其中的關鍵部分。這就是我們所看到的順序，對，真正推動數位化，真正推動 GEO 擴張。然後數據化和附加元件就在背後，因為我們的許多客戶已經與我們合作了 6 個月。但可以肯定的是，那些已經在我們工作了一年、兩年或五年的人都在尋求增值見解、分析、附加組件，從虛擬舞台到對房產的個人評估。以及用於長期保險記錄的記錄目的。我們喜歡這樣，對吧？這些事情都將我們的開發人員帶到這個平台，該平台可以提供很多東西，並作為附加訂閱出售給我們的客戶，為客戶帶來巨大的單位經濟效益，並為Matterport 生態系統帶來巨大的業務。這就是為什麼我對公司未來的數據化感到如此興奮。女士們、先生們，今天的會議到此結束。感謝大家的參與。你們都可以斷開連線。祝你有美好的一天。