Latch, Inc. (Now DOOR) Reports First Quarter 2026 Financial Results
Latch, Inc. (trading as LTCH, operating as DOOR) reported Q1 2026 total revenue of $15.7 million, essentially flat year-over-year, but with software revenue growing 19% to $6.1 million. The company narrowed its net loss by 47% to $5.9 million and reduced quarterly cash usage by $18.6 million year-over-year, driven by a 25.6% decline in operating expenses and improved gross margins to 52.3%. DOOR also refinanced its debt with a new $5 million revolving credit facility from Truist Bank, ending the quarter with $28.5 million in cash and investments.
Key figures
- Revenue
- 15702000
- Revenue Yoy
- -0.5%
- Gross margin
- 52.3%
- Net loss yoy
- -47.2%
- Hardware revenue
- 4357000
- Services revenue
- 5202000
- Software revenue
- 6143000
- Operating expenses
- 13763000
- Adjusted ebitda yoy
- -45.7%
- Cash and investments
- 28500000
- Credit facility size
- 5000000
- Hardware revenue yoy
- 7.9%
- Services revenue yoy
- -20.9%
- Software revenue yoy
- 19.1%
- Term loan outstanding
- 4300000
- Operating expenses yoy
- -25.6%
- Cash usage improvement yoy
- 18600000
AI analysis
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