Latch Inc (NASDAQ: LTCH) is a property technology company that operates the DOOR Platform, a cloud-based access control and building operations system for multifamily residential properties. Revenue comes from two primary streams: SaaS subscription fees for the DOOR Platform software and professional services fees covering hardware installation, technology and home services, and property management. The company also sells Latch-branded smart locks and readers as hardware. SaaS contracts run one to ten years, with longer-term prepaid arrangements carrying an implicit financing component recognized separately as interest income or expense. Latch went public via SPAC merger in June 2021, with Legacy Latch originally formed in 2014. The company reported a net loss of $53.7 million for FY2025 and an Adjusted EBITDA loss of $27.1 million for FY2025. A property management subsidiary, Door Property Management (DPM), was launched in March 2024 following acquisitions in the Boston multifamily market. Jamie Siminoff holds a Common Stock Restriction Agreement as of November 2024, and David Lillis serves under an amended employment agreement as of February 2025.

Revenue model

SaaS subscription fees (one to ten year terms) for the DOOR Platform recognized ratably over the subscription period; professional services fees from hardware installation and activation, technology and home services via HelloTech, and property management services via DPM subsidiary. Hardware is sold primarily through third-party channel partners.

Products and services

DOOR Platform (cloud-based SaaS for access control and building operations); DOOR OS (web-based management application for building owners and property managers); DOOR App (iOS and Android for residents and operators); Concierge Pro (24/7 remote receptionist service); OpenKit (SDKs and APIs for partner integrations); Latch Access Devices including Latch C, M, and Interconnect series smart locks and Latch R common-area readers; HelloTech (technology and home services marketplace); Door Property Management (DPM, multifamily property management).

Customers and end markets

Building owners, property managers, and multifamily residential operators. Residents and building operators use the DOOR App directly. Enterprise customers receive project-based hardware installation services. Channel partners market, sell, install, and activate hardware solutions.

Value-chain role

Platform provider and hardware OEM. Hardware manufactured by contract manufacturers in Asia and the United States under Latch-approved specifications. Hardware distributed through third-party channel partners. Software licensed directly to customers. Latch owns tooling and equipment required for hardware manufacturing.

Geographic exposure

The filing references contract manufacturers in Asia and the United States and a property management presence in the Boston market. No broader geographic revenue breakdown is disclosed in the excerpts.

Source: SEC 10-K, filed 2026-03-31

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