--- title: "Latch - CW26 | 10-K: FY2025 Revenue: USD 70.12 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/281181191.md" datetime: "2026-03-31T11:53:36.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281181191.md) - [en](https://longbridge.com/en/news/281181191.md) - [zh-HK](https://longbridge.com/zh-HK/news/281181191.md) generator: "portal-rs" --- # Latch - CW26 | 10-K: FY2025 Revenue: USD 70.12 M Revenue: As of FY2025, the actual value is USD 70.12 M. EPS: As of FY2025, the actual value is USD -0.34. EBIT: As of FY2025, the actual value is USD -51.61 M. Latch, Inc. operates as a single operating and reporting segment, though it rebranded as DOOR in August 2025, while its legal name remains Latch, Inc. #### Revenue - **Total Revenue**: Increased by $13,487 thousand, or 23.8%, to $70,117 thousand in 2025 from $56,630 thousand in 2024 . - **Hardware Revenue**: Increased by $1,486 thousand, or 8.1%, to $19,772 thousand in 2025 from $18,286 thousand in 2024 . - **Software Revenue**: Increased by $1,885 thousand, or 9.3%, to $22,140 thousand in 2025 from $20,255 thousand in 2024 . - **Professional Services Revenue**: Increased by $10,116 thousand, or 55.9%, to $28,205 thousand in 2025 from $18,089 thousand in 2024, primarily due to a $6.6 million contribution from the HelloTech Merger, a $2.1 million increase in installation revenue, and a $1.4 million increase in property management revenue . #### Operational Metrics - **Net Loss**: Decreased to - $53,747 thousand in 2025 from - $57,596 thousand in 2024 . - **Adjusted EBITDA**: Improved to - $27,089 thousand in 2025 from - $35,966 thousand in 2024 . - **Total Cost of Revenue**: Increased by $11,631 thousand, or 36.8%, to $43,267 thousand in 2025 from $31,636 thousand in 2024 . - **Hardware Cost of Revenue**: Increased by $4,038 thousand, or 26.4%, to $19,308 thousand in 2025 from $15,270 thousand in 2024, which included a $4.9 million write-off of prepaid inventory deposits in 2025 . - **Software Cost of Revenue**: Increased by $16 thousand, or 0.8%, to $2,029 thousand in 2025 from $2,013 thousand in 2024 . - **Professional Services Cost of Revenue**: Increased by $7,577 thousand, or 52.8%, to $21,930 thousand in 2025 from $14,353 thousand in 2024, primarily due to the full year of costs from the HelloTech Merger ($5.2 million), increased installation services costs ($1.6 million), and property management costs ($0.8 million) . - **Operating Expenses**: Decreased by - $4,837 thousand, or -5.7%, to $79,571 thousand in 2025 from $84,408 thousand in 2024 . - **Research and Development**: Increased by $1,020 thousand, or 5.9%, to $18,338 thousand in 2025, mainly due to higher compensation expense . - **Sales and Marketing**: Increased by $2,758 thousand, or 21.9%, to $15,326 thousand in 2025, primarily due to HelloTech-related compensation and digital marketing expenses . - **General and Administrative**: Decreased by - $20,441 thousand, or -46.0%, to $24,030 thousand in 2025, largely due to reduced investigation, legal, and settlement fees . - **Depreciation and Amortization**: Decreased by - $1,925 thousand, or -26.7%, to $5,277 thousand in 2025 . - **Impairment of Goodwill**: Latch, Inc. recorded a $16,600 thousand impairment charge in 2025, reducing the goodwill balance to $13,605 thousand . - **Impairment of Intangible Assets, Net**: No impairment was recorded in 2025, compared to $2,849 thousand in 2024 related to the James ride share application . - **Interest (Expense) Income, Net**: Shifted from $1,416 thousand income in 2024 to - $1,113 thousand expense in 2025, primarily due to lower average principal investment balances and a decrease in interest expense related to software contracts and promissory notes . #### Cash Flow - **Net Cash Used in Operating Activities**: Decreased by $39,513 thousand, to - $35,893 thousand in 2025 from - $75,406 thousand in 2024 . This reduction was mainly due to a $19.5 million decrease in net loss (adjusted for non-cash items), a $19.3 million decrease in cash outflows from an investment payable settlement, and a $12.8 million decrease in inventory purchases . - **Unrestricted Cash and Cash Equivalents and Available-for-Sale Securities**: Totaled $34,600 thousand as of December 31, 2025, down from $75,400 thousand as of December 31, 2024 . #### Other Key Metrics - **Net Inventory**: Totaled $27,300 thousand as of December 31, 2025, compared to $30,500 thousand as of December 31, 2024 . #### Outlook / Guidance Latch, Inc. expects to generate sufficient liquidity to fund its operations for at least 12 months beyond the filing date . The company plans to continue monitoring its cash flow and may implement additional cost-saving measures, including potentially exiting unprofitable business units, to preserve liquidity . However, there is no assurance that additional outside capital can be secured on acceptable terms, especially given the minimal public market for its securities on the OTCID Market . ### Related Stocks - [LTCHW.US](https://longbridge.com/en/quote/LTCHW.US.md) ## Related News & Research - [2024 Lamborghini Revuelto listed at $200K, far below market value](https://longbridge.com/en/news/296401601.md) - [My cats hate each other, but this automatic feeder is helping](https://longbridge.com/en/news/296612149.md) - [Congressman Has Bought Nothing but Apple Since 2024, and It's All on Autopilot](https://longbridge.com/en/news/296533571.md) - [Rossi Residencial files delayed 2025 financial statements after late 2024 accounts release](https://longbridge.com/en/news/296291749.md) - [GXO Logistics names Christina Carvalho chief accounting officer effective Sept. 14](https://longbridge.com/en/news/296536214.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**