Matterport to Join Russell 2000® Index
SUNNYVALE, Calif., June 27, 2022 (GLOBE NEWSWIRE) -- Matterport, Inc. (Nasdaq: MTTR), the leading spatial data company driving the digital transformation of the built world, will join the Russell 2000® Index at the conclusion of the 2022 Russell indexes annual reconstitution. The Russell 2000® Index is a subset of the Russell 3000® Index composed of small-cap stocks. The annual reconstitution will be effective after the US market opens on June 27, according to a preliminary list of additions posted June 3.
Membership in the Russell 2000 Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“We are pleased Matterport has been added to the Russell 2000 Index,” said JD Fay, Chief Financial Officer at Matterport. “This further validates the company's industry leading position, strong execution, and significant accomplishments over the last year including going public on the Nasdaq and raising a total of $745 million. The Index will help to increase awareness and extend the reach of Matterport’s compelling value proposition for the $327 trillion asset class we call the built world. Our key markets include the Fortune 1000 as well as small and medium sized businesses in residential and commercial real estate, facilities management and retail, travel and hospitality, and insurance all over the world.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
Matterport’s market-leading spatial data platform transforms any physical space into a dimensionally accurate and photorealistic digital twin, providing customers with unparalleled data insights needed to manage spaces more effectively. More than 100,000 businesses use the Matterport digital twin to support their digital transformation initiatives, including KLM, Orangetheory Fitness, and Cushman and Wakefield and we extend the reach of our technology through leading technology companies such as Autodesk and AWS.
For more information on the Russell Microcap® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website. To learn how businesses can benefit from Matterport digital twins, visit matterport.com/enterprise.
Matterport, Inc. (Nasdaq: MTTR) is leading the digital transformation of the built world. Our groundbreaking spatial data platform turns buildings into data to make nearly every space more valuable and accessible. Millions of buildings in more than 177 countries have been transformed into immersive Matterport digital twins to improve every part of the building lifecycle from planning, construction, and operations to documentation, appraisal and marketing. Learn more at Matterport.com and visit our Discover page to browse a collection of digital twins captured by our customers.
©2022 Matterport, Inc. All rights reserved. Matterport is a registered trademark and the Matterport logo is a trademark of Matterport, Inc. All other marks are the property of their respective owners.
Soohwan Kim, CFA
VP, Investor Relations
This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the benefits of the business combination, the services offered by Matterport, Inc. (“Matterport”) and the markets in which Matterport operates, business strategies, debt levels, industry environment, potential growth opportunities, the effects of regulations and Matterport’s projected future results. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “forecast,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions (including the negative versions of such words or expressions).
Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including the expected benefits of Matterport’s inclusion in the Russell 2000 Index, Matterport’s ability to implement business plans, forecasts, and other expectations in the industry in which Matterport competes, and identify and realize additional opportunities. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Matterport from time to time with the U.S. Securities and Exchange Commission (the “SEC”). These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Matterport assumes no obligation and, except as required by law, does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Matterport does not give any assurance that it will achieve its expectations.