<span item_type="fundamental" item_id="507e6fe8bd49e4136dbdd5a9ed1e7dcd" counter_id="ST/US/LTCH" env="prod"></span><span item_type="announcement" item_id="604543936858166785" env="prod"></span><p>Revenue: As of FY2025 Q1, the actual value is USD 15.77 M.</p><p></p><h3>Q1 2025 Financial Highlights</h3><h4>Software Revenue</h4><ul><li>For the three months ended March 31, 2025, software revenue was $5.2 million, representing a 2% year-over-year increase of $0.1 million, totaling $5,159 thousand in 2025 compared to $5,037 thousand in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li></ul><h4>Total Revenue</h4><ul><li>Total revenue for the three months ended March 31, 2025, reached $15.8 million, marking a 31% year-over-year increase of $3.7 million, totaling $15,774 thousand in 2025 compared to $12,035 thousand in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li></ul><h4>Operating Expenses</h4><ul><li>Operating expenses were reduced by $1.8 million, showing a 9% year-over-year improvement for the three months ended March 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li></ul><h4>Net Loss</h4><ul><li>The net loss for the three months ended March 31, 2025, was - $11.3 million, an 18% year-over-year improvement of $2.4 million, totaling - $11,250 thousand in 2025 compared to - $13,637 thousand in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li></ul><h4>Adjusted EBITDA (Non-GAAP)</h4><ul><li>Adjusted EBITDA for the three months ended March 31, 2025, was - $7.4 million, representing a 22% year-over-year decrease of $1.3 million, totaling - $7,384 thousand in 2025 compared to - $6,077 thousand in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li><li>Latch, Inc. defines “Adjusted EBITDA” as net loss excluding the impact of depreciation and amortization expense, net interest income or expense, provision for income taxes, change in fair value of warrant liability, trading securities or derivative instruments, restructuring costs, transaction-related costs, net impairment of intangible assets, non-ordinary course legal fees and settlement reserves, stock-based compensation expense, and gain or loss on extinguishment of debt.<span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/lat-20260113.htm"></span></li></ul><h3>Year-End 2025 Cash Position Update</h3><h4>Liquid Assets</h4><ul><li>As of December 31, 2025, Latch, Inc. estimated its total preliminary, unaudited cash and cash equivalents and current and non-current available-for-sale securities (“Liquid Assets”) to be approximately $34.7 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li><li>Liquid Assets decreased by approximately $40.7 million from December 31, 2024, to December 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li><li>Liquid Assets were $75.4 million on December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li><li>On March 31, 2025, Liquid Assets were $50.7 million, with a period-over-period change of $24.7 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li><li>On June 30, 2025, Liquid Assets were $47.2 million, with a period-over-period change of $3.5 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li><li>On September 30, 2025, Liquid Assets were $44.3 million, with a period-over-period change of $2.9 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li><li>On December 31, 2025, Liquid Assets were $34.7 million, with a period-over-period change of $9.6 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li></ul><h4>Specific Outflows Affecting Liquid Assets</h4><ul><li>The decrease in Liquid Assets included approximately $18.9 million of outflows attributed to approximately $12.0 million related to legal fees and settlements for stockholder litigation and the pending SEC investigation, approximately $3.3 million related to professional service fees for 2023 SEC reports, and approximately $3.6 million in one-time outflows associated with the transition of engineering contractors in the first half of 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li></ul><h4>Litigation, Untimely Audit, and Restructuring Fees</h4><ul><li>These costs amounted to $11.3 million for the quarter ended March 31, 2025, $2.3 million for June 30, 2025, $2.0 million for September 30, 2025, and $3.3 million for December 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li></ul><h3>Outlook / Guidance</h3><ul><li>Latch, Inc. is working to complete its remaining 2025 SEC filings to regain current SEC reporting status and intends to provide a finalized comprehensive financial position upon becoming current.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li><li>While expenses related to stockholder litigation and SEC investigation are expected into 2026, the company anticipates that total cash outflows from operating and non-recurring activities will be meaningfully lower in 2026 compared to 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li><li>The company also anticipates updating its corporate name and stock symbol from LTCH at a later date.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1826000/000182600026000008/ltchq125resultsprfinal.htm"></span></li></ul>

Latch | 8-K: FY2025 Q1 Revenue: USD 15.77 M