$LTCH
Latch, Inc.

2021 Q1 Form 10-Q Financial Statement

#000119312521165471 Filed on May 18, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q4
Revenue $6.600M $0.00
YoY Change
Cost Of Revenue $6.162M
YoY Change
Gross Profit $438.0K
YoY Change
Gross Profit Margin 6.64%
Selling, General & Admin $21.45M $899.0K
YoY Change
% of Gross Profit 4896.35%
Research & Development $9.615M
YoY Change
% of Gross Profit 2195.21%
Depreciation & Amortization $653.0K
YoY Change
% of Gross Profit 149.09%
Operating Expenses $31.71M $899.0K
YoY Change
Operating Profit -$31.25M
YoY Change
Interest Expense -$6.915M -$5.754M
YoY Change
% of Operating Profit
Other Income/Expense, Net -$6.854M
YoY Change
Pretax Income -$38.10M -$7.389M
YoY Change
Income Tax $0.00
% Of Pretax Income
Net Earnings -$38.10M -$7.389M
YoY Change 139.01%
Net Earnings / Revenue -577.29%
Basic Earnings Per Share -$3.65
Diluted Earnings Per Share -$3.65 -$197.0K
COMMON SHARES
Basic Shares Outstanding 10.44M shares
Diluted Shares Outstanding 10.44M shares

Balance Sheet

Concept 2021 Q1 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $739.5K $60.53M
YoY Change
Cash & Equivalents $739.5K $60.53M
Short-Term Investments $0.00
Other Short-Term Assets $582.7K $626.7K
YoY Change
Inventory $12.34M $8.293M
Prepaid Expenses $582.7K $626.7K
Receivables $2.228M $8.227M
Other Receivables
Total Short-Term Assets $1.322M $80.36M
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $968.0K $753.0K
YoY Change
Goodwill
YoY Change
Intangibles $295.0K
YoY Change
Long-Term Investments $300.0M $300.0M
YoY Change
Other Assets $1.112M $1.082M
YoY Change
Total Long-Term Assets $300.0M $9.251M
YoY Change
TOTAL ASSETS
Total Short-Term Assets $1.322M $80.36M
Total Long-Term Assets $300.0M $9.251M
Total Assets $301.3M $89.61M
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.193M $3.732M
YoY Change
Accrued Expenses $3.193M $5.781M
YoY Change
Deferred Revenue $3.552M $2.344M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.240M $11.86M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $42.75M $1.051M
YoY Change
Total Long-Term Liabilities $42.75M $1.051M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.240M $11.86M
Total Long-Term Liabilities $42.75M $1.051M
Total Liabilities $45.99M $83.28M
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$16.48M -$162.2M
YoY Change
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$175.1M -$154.3M
YoY Change
Total Liabilities & Shareholders Equity $301.3M $89.61M
YoY Change

Cashflow Statement

Concept 2021 Q1 2020 Q4
OPERATING ACTIVITIES
Net Income -$38.10M -$7.389M
YoY Change 139.01%
Depreciation, Depletion And Amortization $653.0K
YoY Change
Cash From Operating Activities -$14.33M -$639.7K
YoY Change
INVESTING ACTIVITIES
Capital Expenditures $290.0K
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$300.0M
YoY Change
Cash From Investing Activities -$1.736M -$300.0M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $2.035M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $2.088M 301.8M
YoY Change
NET CHANGE
Cash From Operating Activities -$14.33M -639.7K
Cash From Investing Activities -$1.736M -300.0M
Cash From Financing Activities $2.088M 301.8M
Net Change In Cash -$13.99M 1.147M
YoY Change
FREE CASH FLOW
Cash From Operating Activities -$14.33M -$639.7K
Capital Expenditures $290.0K
Free Cash Flow -$14.62M
YoY Change

Facts In Submission

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us-gaap Income Tax Expense Benefit
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CY2020Q4 tsia Term Of Restricted Investments
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CY2021Q1 tsia Change In Ordinary Shares Subject To Possible Redemption
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CY2021Q1 us-gaap Use Of Estimates
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<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Use of Estimates </div></div></div></div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of financial statements in conformity with U.S. GAAP requires the Company&#8217;s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities during the reporting period and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2021Q1 tsia Number Of Trading Days For Determining Share Price
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CY2021Q1 dei Document Type
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CY2021Q1 dei Amendment Flag
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CY2021Q1 dei Document Transition Report
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CY2021Q1 dei Entity Shell Company
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CY2021Q1 dei Entity Filer Category
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CY2021Q1 dei Entity Incorporation State Country Code
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CY2020Q4 tsia Value Of Common Stock Subject To Possible Redemption
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CY2021Q1 tsia Value Of Common Stock Subject To Possible Redemption
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CY2021Q1 tsia Percentage Outstanding Common Stock To Be Owned To Vote
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CY2021Q1 dei Current Fiscal Year End Date
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CY2021Q1 dei Entity Registrant Name
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TS INNOVATION ACQUISITIONS CORP.

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