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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. logo

Latch, Inc.

OTC:LTCHTechnology
+13.42%$0.1792
Mkt Cap$29.69M
Float130.47M
O/S165.66M
Inst Own0.6%
SI0.2%
Dilution
Latch, Inc. logoOTC:LTCH$0.1792+13.42%
Delisting Issues Timeline
Financials Summary
Revenue$70.12M
Net Income-$53.75M
Total Assets$106.8M
Free Cash Flow-$35.97M
Debt & Equity
Debt 7%
Equity 93%
Total Debt$4.64M
Total Equity$58.01M
Shares Outstanding
Short Interest
Split History1 split
  1. 10:1Forward split
    Aug 29, 20131 share → 10
Balance Sheet Details
Assets$106.8M
Liabilities$48.79M
Accounts Receivable$10.05M
Accounts Payable$4.45M
Inventory$15.26M
PP&E (Net)$835K
Goodwill$13.61M
Intangible Assets$2.3M
Income Statement
PeriodFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019
CurrencyUSDUSDUSDUSDUSDUSDUSD
Period Ending2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
Revenue$70.12M$56.63M$44.96M$42.95M$41.36M$18.06M$14.89M
YoY Growth23.8%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 Margin30.8%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 OS160.40M156.65M159.15M143.62M86.47M141.26M141.26M
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%
Balance Sheet
PeriodFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019
CurrencyUSDUSDUSDUSDUSDUSDUSD
Period Ending2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
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
Cash Flow Statement
PeriodFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020FY 2019
CurrencyUSDUSDUSDUSDUSDUSDUSD
Period Ending2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-31
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