Latch, Inc. (LTCH)
Latch, Inc. operates as an enterprise technology firm, serving clients across the United States and Canada. At the core of its offerings is LatchOS, a sophisticated operating system. This platform enhances building operations by providing smart access capabilities, streamlining delivery and guest management, integrating smart home functionalities with various sensors, ensuring robust connectivity, and enabling personalized services for users. The company's software portfolio includes the Latch Resident Mobile Applications for occupants, alongside the Latch Manager Web and Latch Manager Mobile Applications, designed for property administration. Complementing its software, Latch offers a variety of hardware devices. These encompass their M, C, and R series door-mounted access control units, and the Latch Intercom, which seamlessly integrates with its core access systems to facilitate remote unlocking through audio and video calls. Other hardware includes the Latch Camera, a dome surveillance unit; the Latch Hub, a crucial connectivity solution that links smart access, smart home, and sensor devices throughout properties; and the Latch Leak Detector, engineered to help building owners and residents prevent, detect, and resolve water leaks. Furthermore, Latch provides innovative features such as NFC unlock on Android devices, allowing users to open doors without interacting with their phone. It also offers Latch Visitor Express, a contactless system for guest entry, and LatchID, an identification management solution. Latch, Inc. maintains its corporate headquarters in New York, New York.
Sector: Wholesale-Hardware
Industry: Software - Application
Latch, Inc.
- 10:1Forward splitAug 29, 20131 share → 10
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Revenue | $70.12M | $56.63M | $44.96M | $42.95M | $41.36M | $18.06M | $14.89M |
| YoY Growth | 23.8% | 26.0% | 4.7% | 3.9% | 129.0% | 21.3% | - |
| Cost of Revenue | $48.54M | $31.64M | $39.63M | $46.88M | $44.04M | $20.24M | $17.3M |
| Gross Profit | $21.57M | $24.99M | $5.33M | -$3.92M | -$2.68M | -$2.18M | -$2.41M |
| Gross Margin | 30.8% | 44.1% | 11.9% | -9.1% | -6.5% | -12.1% | -16.2% |
| Research and Development | $18.34M | $17.32M | $30.84M | $54.93M | $45.85M | $25.31M | $18.34M |
| Selling, General, and Administrative | $39.36M | $57.04M | $78.25M | $98.87M | $96.8M | $32.92M | $28.23M |
| Other | -$3.13M | $10.05M | $0 | $7.51M | $3.24M | $1.38M | $723K |
| Total Operating Expenses | $54.56M | $84.41M | $109.09M | $161.32M | $145.89M | $59.62M | $47.29M |
| Operating Income (EBIT) | -$32.99M | -$59.41M | -$103.75M | -$165.24M | -$148.57M | -$58.12M | -$49.7M |
| Operating Margin | -47.0% | -104.9% | -230.8% | -384.7% | -359.2% | -321.8% | -333.9% |
| Interest Expense | $3M | $4.48M | $5.79M | $7.44M | $7.78M | $3.17M | $0 |
| Interest Income | $1.89M | $0 | $8.1M | $4.48M | $0 | $0 | $443 |
| Other Income (Expense) | -$20.76M | $1.82M | -$3.75M | $3M | -$17.7M | -$7.87M | -$473K |
| Income Before Tax (EBT) | -$53.75M | -$57.59M | -$107.51M | -$162.25M | -$166.27M | -$65.99M | -$50.18M |
| Income Tax Expense | $0 | $2K | $30K | $89K | $53K | $8K | $50K |
| Net Income | -$53.75M | -$57.6M | -$107.54M | -$162.34M | -$166.32M | -$65.99M | -$50.23M |
| Net Income Margin | -76.7% | -101.7% | -239.2% | -377.9% | -402.1% | -365.4% | -337.4% |
| Supplementary Data | |||||||
| EPS | -0.34 | -0.37 | -0.68 | -1.13 | -1.92 | -0.47 | -0.36 |
| Diluted EPS | -0.34 | -0.37 | -0.68 | -1.13 | -1.92 | -0.47 | -0.36 |
| Weighted Average OS | 160.40M | 156.65M | 159.15M | 143.62M | 86.47M | 141.26M | 141.26M |
| EBITDA | -$27.71M | -$50.39M | -$94.52M | -$157.73M | -$145.33M | -$61.43M | -$48.98M |
| EBITDA Margin | -39.5% | -89.0% | -210.2% | -367.2% | -351.4% | -340.1% | -329.0% |
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Assets | |||||||
| Current Assets | |||||||
| Cash and Cash Equivalents | $34.62M | $70.2M | $94.67M | $109.83M | $124.78M | $60.53M | $54.22M |
| Short-Term Investments | $0 | $5.19M | $84.86M | $120.23M | $158.97M | $0 | $0 |
| Cash and Short-Term Investments | $34.62M | $75.39M | $179.54M | $230.06M | $283.75M | $60.53M | $54.22M |
| Accounts Receivable | $10.05M | $9.86M | $22.9M | $7.03M | $25.64M | $8.23M | $7.03M |
| Inventory | $15.26M | $14.38M | $16.56M | $29.43M | $11.62M | $8.29M | $6.15M |
| Other Current Assets | $5.01M | $30.52M | $5M | $11.39M | $11.61M | $0 | $1.56M |
| Total Current Assets | $64.94M | $130.15M | $236.85M | $278.86M | $332.62M | $80.36M | $68.95M |
| Long-Term Assets | |||||||
| Property, Plant & Equipment Net | $835K | $1.07M | $1.47M | $2.47M | $2.04M | $753K | $1.06M |
| Goodwill | $13.61M | $30.2M | $25.32M | $0 | $0 | $0 | $0 |
| Intangible Assets | $2.3M | $2.58M | $14.55M | $13.89M | $12.47M | $7.42M | $3.31M |
| Long-Term Investments | $0 | $0 | $0 | $4.84M | $102.88M | -$189K | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $189K | $0 |
| Other Long-Term Assets | $25.13M | $32.41M | $16.24M | $16.62M | $2.29M | $1.08M | $239K |
| Total Long-Term Assets | $41.87M | $66.27M | $57.58M | $37.81M | $119.69M | $9.25M | $4.62M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $106.8M | $196.42M | $294.43M | $316.66M | $452.3M | $89.61M | $73.57M |
| Liabilities | |||||||
| Current Liabilities | |||||||
| Accounts Payable | $4.45M | $7.82M | $3.64M | $6M | $6.23M | $3.73M | $3.79M |
| Short-Term Debt | $1.31M | $1.31M | $22M | $300K | $3.4M | $0 | $0 |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $11.24M | $11.9M | $10.84M | $10.69M | $6.02M | $2.34M | $0 |
| Other Current Liabilities | $11.25M | $36.16M | $55.76M | $36.59M | $18.72M | $4.54M | $3.89M |
| Total Current Liabilities | $28.25M | $57.19M | $94.34M | $44.26M | $40.77M | $11.86M | $7.68M |
| Long-Term Liabilities | |||||||
| Long-Term Debt | $3.33M | $4.51M | $0 | $0 | $0 | $57.2M | $0 |
| Long-Term Unearned Revenue | $15.14M | $21.28M | $28.74M | $31.24M | $24.19M | $13.18M | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $160.6M | $0 |
| Other Long-Term Liabilities | $2.08M | $23.53M | $2.21M | $31.5M | $9.79M | $1.05M | $0 |
| Total Long-Term Liabilities | $20.55M | $28.05M | $30.96M | $31.64M | $33.98M | $232.03M | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $48.79M | $85.24M | $125.3M | $75.91M | $74.75M | $243.89M | $7.68M |
| Stockholders' Equity | |||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $150.31M |
| Common Stock | $19K | $19K | $19K | $16K | $25K | $0 | $0 |
| Retained Earnings | -$712.47M | -$658.72M | -$601.13M | -$493.59M | -$328.51M | -$162.19M | -$96.19M |
| Comprehensive Income & Other | $39K | $21K | $48K | -$1.46M | -$676K | $9K | $0 |
| Other Stockholders' Equity | $770.46M | $769.89M | $770.24M | $734.33M | $706.04M | $7.91M | $156.03M |
| Total Equity | $58.01M | $111.18M | $169.14M | $240.75M | $377.56M | -$154.28M | $59.84M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $106.8M | $196.42M | $294.43M | $316.66M | $452.3M | $89.61M | $67.52M |
| Supplementary Data | |||||||
| Total Debt | $4.64M | $5.83M | $22M | $724K | $3.4M | $57.2M | $0 |
| Net Debt | -$29.98M | -$64.37M | -$72.67M | -$109.1M | -$121.38M | -$3.33M | -$54.22M |
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Operating Activities | |||||||
| Net Income | -$53.75M | -$57.6M | -$107.54M | -$162K | -$166.32M | -$65.99M | -$50.23M |
| Depreciation & Amortization | $5.28M | $7.2M | $7.2M | $5.5M | $3.24M | $1.38M | $723K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $1.7M | $1.37M |
| Stock-Based Compensation | $551K | -$580K | $18.17M | $30K | $29.88M | $1.52M | $3.53M |
| Changes in Working Capital: | |||||||
| Accounts Receivable | $1.54M | -$2.35M | $1.95M | $3.57M | -$19.31M | -$1.27M | -$6.45M |
| Inventory | $3.12M | -$3.76M | $16.33M | -$16.69M | -$3.51M | -$2.29M | -$3.38M |
| Accounts Payable | -$3.37M | $3.65M | -$2.36M | -$506K | $2.5M | -$58K | $2.87M |
| Other Working Capital | -$7.25M | -$23.47M | $3.5M | $9.78M | $31.12M | $10.06M | $3.77M |
| Total Working Capital Change | -$5.96M | -$25.93M | $19.42M | -$3.86M | $10.8M | $6.45M | -$3.18M |
| Other Non-Cash Items | $17.98M | -$24.43M | $15.33M | -$136.75M | $16.54M | $1.29M | $157K |
| Net Cash from Operating | -$35.89M | -$75.41M | -$65.59M | -$135.24M | -$105.86M | -$53.64M | -$47.63M |
| Investing Activities | |||||||
| Capital Expenditures | -$79K | -$766K | -$1.84M | -$7.01M | -$1.54M | -$5.47M | -$3.77M |
| Acquisitions | $0 | -$950K | $8.09M | $0 | $0 | $0 | $0 |
| Purchases of Investments | -$6.66M | -$20.29M | -$127.18M | -$80.43M | -$273.49M | $0 | $0 |
| Sales of Investments | $12M | $101.04M | $171.42M | $213.79M | $4.64M | $0 | $0 |
| Other Investing Activities | -$3.58M | -$6.14M | $0 | $133.37M | -$7.28M | $0 | $0 |
| Net Cash from Investing | $1.69M | $72.89M | $50.48M | $126.36M | -$277.66M | -$5.47M | -$3.77M |
| Financing Activities | |||||||
| Debt Repaid | $1.22M | - | - | - | $5M | -$54.88M | -$8.99M |
| Common Stock Issuance | $0 | $0 | $0 | $724K | $451.19M | $226K | $304K |
| Common Stock Repurchases | $0 | $0 | $0 | -$3K | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | $0 | -$22M | $0 | -$2.67M | $446.16M | $0 | $57.09M |
| Net Cash from Financing | -$1.22M | -$22M | $0 | -$6.04M | $447.78M | $65.41M | $66.09M |
| Forex Effect | -$153K | $48K | -$46K | -$32K | -$6K | $13K | $0 |
| Net Change in Cash | -$35.58M | -$24.47M | -$15.15M | -$14.95M | $64.25M | $6.31M | $14.7M |
| Supplementary Data | |||||||
| Operating Cash Flow | -$35.89M | -$75.41M | -$65.59M | -$135K | -$105.86M | -$53.64M | -$47.63M |
| Capital Expenditure | -$79K | -$766K | -$327K | -$2K | -$8.82M | -$5.47M | -$3.77M |
| Free Cash Flow | -$35.97M | -$76.17M | -$65.91M | -$137K | -$114.68M | -$59.11M | -$51.39M |
| Cash at Beginning | $70.2M | $94.67M | $109.83M | $125K | $60.53M | $54.22M | $39.52M |
| Cash at End | $34.62M | $70.2M | $94.67M | $110K | $124.78M | $60.53M | $54.22M |