2026-03-31 12:09:06
Latch, Inc. Reports 24% Revenue Growth in 2025 Annual Report
Expected Stock impact: Slightly Positive
On March 31, 2026, Latch, Inc., now rebranded as DOOR, filed its Annual Report on Form 10-K for the year ended December 31, 2025, with the U.S. Securities and Exchange Commission (SEC). The report highlights a significant 24% increase in total revenue, reaching $70.1 million, compared to $56.6 million in the previous year. This growth was driven by a 9% rise in software revenue, amounting to $22.1 million. Despite the positive revenue growth, the company reported a net loss of $53.7 million, although this reflects a $3.8 million improvement from the prior year. The report also noted a reduction in operating expenses by 6%, totaling $79.6 million. Adjusted EBITDA, a non-GAAP financial measure, showed a loss of $27.1 million, which is an $8.9 million improvement year-over-year. The company attributed its net loss to non-cash items, including a $16.6 million impairment of goodwill. CEO David Lillis emphasized the company's ongoing cost-saving efforts and the positive trajectory despite the challenges faced. The filing indicates that Latch is focused on operational execution and strategic growth, which may positively influence investor sentiment and stock performance moving forward.
