Latch Inc
latch.comWhat Do They Do?
Sells smart access hardware and building software, and provides installation and on-demand home services to multifamily property owners, managers, developers, residents and service providers.
10-K for FY2025, filed Mar 31, 2026Latch is a technology company delivering an integrated ecosystem of hardware, software and services designed to enhance operations and…View ↗
Our core offering is built around a proprietary, cloud-based software-as-a-service (“SaaS”) platform (the “DOOR Platform”) that powers and…View ↗
Our customers, which include real estate developers, builders, owners and property managers in the United States and Canada, typically…View ↗
Our professional services offerings are integral to ensuring successful deployment of the DOOR Platform and ongoing support for our…View ↗
Complementing our multifamily installation capabilities, our wholly-owned subsidiary, HelloTech, Inc. (“HelloTech”), provides a scalable…View ↗
How Do They Make Money?
Customers buy hardware directly or through channel partners and are generally charged when it ships. They pay fixed software subscription fees in advance, annually or monthly; installation work is billed as it progresses, while other service fees are earned as services are completed and subscriptions over their terms.
10-K for FY2025, filed Mar 31, 2026The Company generates hardware revenue primarily from the sale of its portfolio of devices. The Company sells hardware to customers, which…View ↗
The Company generates software revenue primarily through the license of its software-as-a-service (“SaaS”) cloud-based platform to…View ↗
The SaaS licenses provided by the Company are considered stand-ready performance obligations where customers benefit from the services…View ↗
The Company provides smart access hardware installation and activation services to select customers. The revenues associated with these…View ↗
Through the HelloTech platform, a network of independent contractors provides in-home technology services and support such as installation…View ↗
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10-K for FY2025, filed Mar 31, 2026
FY2025 revenue by product or service ↗
$70.1M
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10-K for FY2025, filed Mar 31, 2026
$70.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Hardware
Sold outright
10-K for FY2025, filed Mar 31, 2026 |
28%
FY2022: 57%
|
Hardware, FY2025
$19.8M Sources
|
Sold outright |
|
Software
Recurring
10-K for FY2025, filed Mar 31, 2026 |
32%
FY2022: 30%
|
Software, FY2025
$22.1M Sources
|
Recurring |
|
Professional services
|
40%
FY2022: 13%
|
Professional services, FY2025
$28.2M Sources
|
Who Are Their Customers?
Real estate developers, builders, building owners and property managers buy hardware directly or through channel partners, and license the software directly. Residents and property managers also use HelloTech for technical and home services.
10-K for FY2025, filed Mar 31, 2026Our customers, which include real estate developers, builders, owners and property managers in the United States and Canada, typically…View ↗
Complementing our multifamily installation capabilities, our wholly-owned subsidiary, HelloTech, Inc. (“HelloTech”), provides a scalable…View ↗
Our primary go-to-market strategy involves distributing our hardware through a network of third-party channel partners. These partners…View ↗
10-K for FY2025, filed Mar 31, 2026
Significant customers are those that represent more than 10% of the Company’s total revenue or gross accounts receivable balance at each…View ↗
Do Revenues Turn Into Profits?
No. It lost $53.7M in FY2025.
10-K for FY2025, filed Mar 31, 2026
−$52.7MView ↗
10-K for FY2025, filed Mar 31, 2026
−$53.7MView ↗
10-K for FY2025, filed Mar 31, 2026
−$36MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 10, 2026
−$6.9MView ↗
- ▼ −12% (Loss)
- vs −$7.8M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 10, 2026
Open tableView ↗
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Aug 10, 2026
Company reaches settlement in principle with SEC staff
The proposed settlement includes a $1.0 million civil penalty, subject to Commission approval.
Sources
8-K, filed Aug 10, 2026
SEC Investigation Settlement - The Company reached a settlement in principle with the Securities and Exchange Commission (the “SEC”) Staff…View ↗
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Aug 5, 2026
Company announces workforce cuts and plans to exit property management
The restructuring plan includes a workforce reduction and discontinuation of DOOR Property Management.
Sources
8-K, filed Aug 5, 2026
On August 3, 2026, the Board of Directors of Latch, Inc. (the “Company”) authorized a restructuring plan (the “Restructuring Plan”)…View ↗
Growing. Revenue grew 2.5x in 4 years, from $27.6M in FY2021 to $70.1M in FY2025, about 26% a year.
Broader platform focus
The latest report describes an integrated building platform spanning access, smart home devices and building operations, expanding beyond the earlier focus on access and in-unit device control.
10-K for FY2022, filed Dec 19, 2024 10-K for FY2025, filed Mar 31, 2026
Expanded services
The latest report includes HelloTech's on-demand technical and home services and a property management business; the older report described property management and service-provider businesses as recent additions still being integrated.
10-K for FY2022, filed Dec 19, 2024In addition to our core smart access business described above, we recently acquired certain property management and service-provider…View ↗
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