View Announces Full Year 2021 Financial Results
Jun 1, 2022 By MarketDepth
View, Inc. (NASDAQ: VIEW) reported financial results for the full year 2021. Record revenue of $74 million, up 125% year-over-year, and exceeding previous guidance range of $65 million to $70 million. GAAP cost of revenue of $195 million, up 61% year-over-year, which against revenue growth of 125% reflects our ability to leverage fixed costs over higher volumes. View launched its Smart Building Platform, delivering a full performance solution that includes a converged secure network infrastructure, Smart Glass panel, Smart Building Technologies, and end-to-end design and deployment services. View acquired IoTium, an edge-cloud security platform for smart buildings, in July 2021, and WorxWell, a user and building data analytics SaaS platform, in December 2021, both of which are complementary to View Smart Building Technologies offerings.
“2021 was a pivotal year for View, with challenges and many accomplishments as we continue to drive real estate industry transformation, improve human health, and address climate change. At the beginning of the year, we said that we would more than double revenues and we did just that, finishing the year with revenues of $74 million and 125% growth from the prior year.”
Dr. Rao Mulpuri, CEO of View
“The restatement of our financials is a challenging process with many lessons learned, and we are building the foundations needed to emerge stronger as a company. I am proud of our team’s demonstration of the ‘View Spirit’ by staying focused and committed to supporting our customers and driving business growth.”
“The real estate industry is going through a once-in-a-lifetime change driven by sustainability, user experience, human health, and digital transformation. The view is committed to this journey, and we intend to play a leadership role in driving this transformation.”
Dr. Rao Mulpuri, CEO of View
The company expects full year 2022 revenue to range from USD 100 to USD 110 Million.
