Latch - CW26 | 8-K: FY2025 Q2 Revenue: USD 19.06 M

Revenue: As of FY2025 Q2, the actual value is USD 19.06 M.

EBIT: As of FY2025 Q2, the actual value is USD -7.568 M.

DOOR (formerly Latch) reported its unaudited financial and business highlights for the second quarter and six months ended June 30, 2025. All figures are in thousands unless otherwise specified .

Q2 2025 Financial Highlights

• Segment Revenue
  • Total Revenue: $19,055, representing a 47% year-over-year increase from $12,938 in Q2 2024 .
  • Software Revenue: $5,244, a 4% year-over-year increase from $5,022 in Q2 2024 .
• Operational Metrics
  • Operating Expenses: $15,800, a $7,800 (34%) year-over-year reduction .
  • Net Loss: -$7,849, a 54% year-over-year improvement from -$16,937 in Q2 2024 .
  • Adjusted EBITDA (Non-GAAP): -$5,689, a 24% year-over-year improvement from -$7,519 in Q2 2024 .

Six Months Ended June 30, 2025 Financial Highlights

• Segment Revenue
  • Total Revenue: $34,829, representing a 39% year-over-year increase from $24,973 in the prior year period .
  • Software Revenue: $10,403, a 3% year-over-year increase from $10,059 in the prior year period .
• Operational Metrics
  • Net Loss: -$19,099, a 38% year-over-year improvement from -$30,574 in the prior year period .
  • Adjusted EBITDA (Non-GAAP): -$12,955, a 5% year-over-year improvement from -$13,596 in the prior year period .

Adjusted EBITDA Reconciliation Items (Three Months Ended June 30)

• Depreciation and amortization: $1,320 in 2025, compared to $1,814 in 2024 .
• Interest expense (income), net: $281 in 2025, compared to -$521 in 2024 .
• Provision for income taxes: $0 in both 2025 and 2024 .
• Change in fair value of warrant liability: $32 in 2025, compared to -$53 in 2024 .
• Restructuring costs: -$30 in 2025, compared to -$10 in 2024 .
• Non-ordinary course legal fees and settlement reserves: $607 in 2025, compared to $6,270 in 2024 .
• Stock-based compensation: -$50 in 2025, compared to $1,918 in 2024 .

Adjusted EBITDA Reconciliation Items (Six Months Ended June 30)

• Depreciation and amortization: $2,842 in 2025, compared to $3,710 in 2024 .
• Interest expense (income), net: $534 in 2025, compared to -$967 in 2024 .
• Provision for income taxes: $0 in 2025, compared to $2 in 2024 .
• Change in fair value of warrant liability: $69 in 2025, compared to $1 in 2024 .
• Restructuring costs: -$88 in 2025, compared to $65 in 2024 .
• Non-ordinary course legal fees and settlement reserves: $2,586 in 2025, compared to $10,179 in 2024 .
• Stock-based compensation: $201 in 2025, compared to $3,988 in 2024 .

Outlook / Guidance

DOOR anticipates regaining current reporting status with the issuance of its upcoming Q3 2025 report, which is expected to be filed in the first quarter of 2026 . This action would bring the company current with its SEC reporting obligations for the first time since mid-2022 .