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MARKETS / BALCAO / LTCH
BALCAO · WHOLESALE-HARDWARE · SMALL CAP

Latch, Inc. LTCH

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$70.1M
▲ 23.8% YoY
$-53.7M
$-36.0M
In brief

What this company does

The company's core offering is built around a proprietary, cloud-based software-as-a-service (SaaS) platform, the DOOR Platform, that powers and manages its suite of smart access control devices, including locks, readers and intercoms, and smart home devices, and integrates with other connected devices within a building. The company's customers, which include real estate developers, builders, owners and property managers in the United States and Canada, typically purchase its hardware devices, directly or indirectly through its channel partner network, and directly license its SaaS platform. As of December 31, 2025, the company had approximately 120 full-time employees, all of which were based in the United States. TS Innovation Acquisitions Corp. was incorporated in Delaware on September 18, 2020 as a special purpose acquisition company formed to acquire one or more operating businesses through a business combination, and later merged to become Latch.

Written from the business description in Latch, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 31 March 2026. Every sentence was checked against that document before publication.

Growth
USD 70.1M
Revenue, FY2025 · full 7-year series below
Revenue $M Net income $M
FY2025 · Revenue 70.1 · Net income -53.7
25.0M50.0M-80.0M-160.0M2019202020212022202320242025
Compound annual growth
+17.7%
+40.1%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +40.1% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−77 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -75.2% · Net -76.7%
-200%-400%-600%2019202020212022202320242025
ROE
FY2025 · ROE -63.5%
-50%-100%-150%2019202020212022202320242025

Each USD of equity lost 64 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -36.0
-50M-100M2019202020212022202320242025

Total assetsUSD 106.8M
EquityUSD 58.0M
CashUSD 34.6M
Gross debtUSD 4.6M
Net debtUSD -30.0M
Current ratio2.30×

The company holds more cash than debt.

The 7-year record
7 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019
Revenue $B0.10.10.00.00.00.00.0
Operating income $B−0.1−0.1−0.1−0.2−0.1−0.1−0.0
EBITDA $B−0.0−0.1−0.1−0.2−0.1−0.1−0.0
Income tax $B0.00.00.00.00.00.00.0
Net income $B−0.1−0.1−0.1−0.2−0.2−0.1−0.1
Free cash flow $B−0.0−0.1−0.1−0.1−0.1−0.1−0.0
EPS, diluted $−0.34−0.37−0.72−1.13−1.93−9.31−7.65
Dividend / sh $·······
Payout %·······
ROE %−63.5−41.1−52.5−52.8−153.3··
Shares out B0.160.160.180.140.140.01·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 26 reconciliationsAUDITED

Reconciled in 7 of 19 fiscal years. 62 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityWholesale-Hardware
Listed onOTC market
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2019

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