---
title: "Latch - CW26 | 10-Q: FY2024 Q1 Revenue: USD 12.04 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/264489944.md"
datetime: "2025-11-05T19:43:04.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/264489944.md)
  - [en](https://longbridge.com/en/news/264489944.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/264489944.md)
generator: "portal-rs"
---

# Latch - CW26 | 10-Q: FY2024 Q1 Revenue: USD 12.04 M

Revenue: As of FY2024 Q1, the actual value is USD 12.04 M.

EPS: As of FY2024 Q1, the actual value is USD -0.09.

EBIT: As of FY2024 Q1, the actual value is USD -14.44 M.

### Segment Revenue

-   **Hardware Revenue**: $4.643 million for the three months ended March 31, 2024, compared to $5.345 million for the same period in 2023, a decrease of 13.1%.
-   **Software Revenue**: $5.037 million for the three months ended March 31, 2024, compared to $3.973 million for the same period in 2023, an increase of 26.8%.
-   **Professional Services Revenue**: $2.355 million for the three months ended March 31, 2024, compared to $1.832 million for the same period in 2023, an increase of 28.5%.

### Operational Metrics

-   **Net Loss**: - $13.637 million for the three months ended March 31, 2024, compared to - $32.924 million for the same period in 2023, a decrease in loss of 58.6%.
-   **Total Cost of Revenue**: $5.581 million for the three months ended March 31, 2024, compared to $13.641 million for the same period in 2023, a decrease of 59.1%.
-   **Operating Expenses**: $20.445 million for the three months ended March 31, 2024, compared to $30.636 million for the same period in 2023, a decrease of 33.3%.

### Cash Flow

-   **Net Cash Used in Operating Activities**: - $31.100 million for the three months ended March 31, 2024, compared to - $25.731 million for the same period in 2023.
-   **Net Cash Provided by Investing Activities**: $45.162 million for the three months ended March 31, 2024, compared to $32.597 million for the same period in 2023.

### Future Outlook and Strategy

-   **Core Business Focus**: The company is focusing on expanding its software revenue through increased subscriptions and enhancing its professional services offerings, including property management services.
-   **Non-Core Business**: The company has launched a property management division, Door Property Management, LLC, to gain hands-on experience and refine its products and services.

### Unique Metrics

-   **Adjusted EBITDA**: - $7.395 million for the three months ended March 31, 2024, compared to - $24.444 million for the same period in 2023, an improvement of 69.7%.

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- [LTCHW.US](https://longbridge.com/en/quote/LTCHW.US.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**