Latch reported full-year revenue of $70.117 million and a basic and diluted net loss per common share of $(0.34), reflecting revenue growth driven by software and professional services while the company remains unprofitable on a net basis. Despite an operating loss, Latch narrowed its net loss year over year and saw improvements in operating results compared with the prior year. Management highlights continued platform adoption and expanded service capabilities following strategic changes in its channel mix.

Financial Highlights

• Total revenue: $70.117 million, up $13.487 million (23.8%) versus prior year.
• Gross Profit: $26.850 million (as reported).
• Loss from operations (Operating Income): $(52.721) million, an improvement of $6.693 million (11.3%) versus prior year.
• Net loss (Net Income): $(53.747) million, improved $3.849 million (6.7%) versus prior year.
• Basic and diluted net loss per common share (Net Income Per Share): $(0.34), improved $0.03 versus prior year.

Business Highlights

• Revenue growth drivers: Growth was driven by software revenue and a significant 55.9% increase in professional services.
• Channel and product mix: Expansion of services channel following the HelloTech merger complemented hardware and software offerings, broadening end-to-end deployment capabilities.
• Brand and platform adoption: Rebranded to DOOR in August 2025 and continued adoption of the DOOR Platform for smart access and smart home integrations.
• Operational expansion: Expanded HelloTech’s nationwide technician network and added property management offerings to support full deployment and service delivery.
• Cost and operations focus: Management is emphasizing cost discipline and inventory optimization in response to increased professional services and inventory-related costs.

Original SEC Filing: Latch, Inc. [ LTCH ] - 10-K - Mar. 31, 2026