---
title: "Latch - CW26 | 8-K: FY2026 Q1 Revenue: USD 15.7 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286632733.md"
datetime: "2026-05-16T04:14:45.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286632733.md)
  - [en](https://longbridge.com/en/news/286632733.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286632733.md)
generator: "portal-rs"
---

# Latch - CW26 | 8-K: FY2026 Q1 Revenue: USD 15.7 M

Revenue: As of FY2026 Q1, the actual value is USD 15.7 M.

EPS: As of FY2026 Q1, the actual value is USD -0.04.

EBIT: As of FY2026 Q1, the actual value is USD -5.221 M.

#### Segment Revenue

-   **Software Revenue**: Increased by 19.1% year-over-year to $6.1 million in Q1 2026, driven by continued subscription growth .
-   **Hardware Revenue**: Grew 7.9% to $4.4 million in Q1 2026, due to higher unit shipments .
-   **Professional Services Revenue**: Declined 20.9% to $5.2 million in Q1 2026, primarily due to lower installation activity .
-   Total revenue for the first quarter of 2026 was $15.7 million, which was essentially flat year-over-year, representing a -0.5% change from $15,774 thousand in the first quarter of 2025 .

#### Operational Metrics

-   **Net Loss**: Narrowed by 47.2% year-over-year to - $5.9 million in Q1 2026, compared to - $11,250 thousand in Q1 2025 .
-   **Adjusted EBITDA Loss (Non-GAAP)**: Narrowed by 45.7% year-over-year to - $3.9 million in Q1 2026, compared to - $7,266 thousand in Q1 2025 . The Adjusted EBITDA loss narrowed by approximately $3.3 million compared to Q1 2025 .
-   **Operating Expenses**: Decreased by 25.6% year-over-year to $13.8 million in Q1 2026, reflecting disciplined expense management and streamlining of the cost structure .
-   **Gross Profit**: Increased $0.7 million year-over-year to $8.2 million in Q1 2026 .
-   **Gross Margin**: Expanded to 52.3% in Q1 2026 from 47.4% in Q1 2025, driven by operational efficiencies in professional services and a more favorable product mix .
-   **Loss from Operations**: - $5,544 thousand in Q1 2026, significantly improved from - $11,024 thousand in Q1 2025 .

#### Cash Flow and Position

-   **Cash and Investments**: DOOR ended the quarter with $28.5 million in cash and investments as of March 31, 2026 .
-   **Cash Usage**: The company reduced cash usage by $18.6 million compared to the first quarter of 2025 . Total cash and cash equivalents and available-for-sale securities decreased by approximately $6.1 million from December 31, 2025, to March 31, 2026, an improvement compared to a decrease of approximately $24.7 million in the prior year period .
-   **Net Cash Used in Operating Activities**: - $5,143 thousand in Q1 2026, an improvement from - $10,137 thousand in Q1 2025 .
-   **Net Cash Used in Investing Activities**: - $1,395 thousand in Q1 2026, compared to - $935 thousand in Q1 2025 .
-   **Net Cash Used in Financing Activities**: - $333 thousand in Q1 2026, compared to - $223 thousand in Q1 2025 .
-   **Net Inventory**: $25.0 million as of March 31, 2026 .
-   **Debt Refinance**: The company entered into a new $5.0 million revolving credit facility with Truist Bank, maturing in May 2028, which is expected to reduce cash used for debt service by approximately $0.9 million for 2026 .

#### Outlook / Guidance

DOOR remains focused on three priorities for the remainder of 2026: continued revenue growth by adding new buildings to its ecosystem, disciplined expense management as legacy costs normalize, and ongoing progress toward profitability and operating cash flow improvement . The company believes its current resources support the execution of its 2026 plan, and management aims to further reduce cash usage going forward .

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