What is Latch Inc's earnings per share (EPS)?

Latch Inc (LTCHW) reported diluted earnings per share of $-0.34 for fiscal year 2025. This represents a 8.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Latch Inc Financials

LTCHW

Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Latch Inc (LTCHW) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LTCHW FY2025 2026-04-22

A leaner cost base is driving progress toward break-even, while losses are still being funded by drawing down cash.

In FY2025, free cash flow of -$36.0M was almost identical to operating cash flow of -$35.9M, showing that nearly all cash burn came from the business itself rather than from expansion spending. The remaining gap to break-even therefore sits mainly in the core economics and fixed-cost structure, not in heavy reinvestment.

The operating loss has narrowed much faster than revenue has grown because gross margin repair was paired with a much smaller overhead burden. FY2025 gross margin was 38.3% and selling and administrative costs were $24.0M, which points to a business being resized for durability instead of relying on scale alone to solve losses.

Leverage remains modest with debt-to-equity at 0.1x and a current ratio of 2.3x, so creditors are not the primary source of financial pressure. The tighter constraint is internal liquidity: cash dropped from $94.7M in FY2023 to $34.6M in FY2025, meaning recent losses were financed mostly by consuming assets already on the balance sheet.

Financial Health Signals

Financial health score pending refresh

We are recalculating Latch Inc's peer-relative financial health score against the latest fiscal year. It will appear here once the refresh completes. The signals and metrics below are current.

Piotroski F-Score Weak

3/9

Latch Inc passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality

0.67x

For every $1 of reported earnings, Latch Inc generates $0.67 in operating cash flow (-$35.9M OCF vs -$53.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-17.6x

Latch Inc earns $-17.6 in operating income for every $1 of interest expense (-$52.7M vs $3.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$70.1M

YoY+23.8%

5Y CAGR+40.1%

Latch Inc generated $70.1M in revenue in fiscal year 2025. This represents an increase of 23.8% from the prior year.

EBITDA

-$47.4M

YoY+9.1%

Latch Inc's EBITDA was -$47.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.1% from the prior year.

Net Income

-$53.7M

YoY+6.7%

Latch Inc reported -$53.7M in net income in fiscal year 2025. This represents an increase of 6.7% from the prior year.

EPS (Diluted)

$-0.34

YoY+8.1%

Latch Inc earned $-0.34 per diluted share (EPS) in fiscal year 2025. This represents an increase of 8.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$36.0M

YoY+52.8%

Latch Inc generated -$36.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 52.8% from the prior year.

Cash & Debt

$34.6M

YoY-50.7%

5Y CAGR-10.6%

Latch Inc held $34.6M in cash against $3.3M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

164M

YoY+2.0%

Latch Inc had 164M shares outstanding in fiscal year 2025. This represents an increase of 2.0% from the prior year.

Margins & Returns

Gross Margin

38.3%

YoY-5.8pp

5Y CAGR+58.5pp

Latch Inc's gross margin was 38.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 5.8 percentage points from the prior year.

Operating Margin

-75.2%

YoY+29.7pp

5Y CAGR+410.8pp

Latch Inc's operating margin was -75.2% in fiscal year 2025, reflecting core business profitability. This is up 29.7 percentage points from the prior year.

Net Margin

-76.6%

YoY+25.1pp

5Y CAGR+442.2pp

Latch Inc's net profit margin was -76.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 25.1 percentage points from the prior year.

Return on Equity

-92.7%

YoY-40.8pp

Latch Inc's ROE was -92.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 40.8 percentage points from the prior year.

Capital Allocation

R&D Spending

$18.3M

YoY+5.9%

5Y CAGR-6.6%

Latch Inc invested $18.3M in research and development in fiscal year 2025. This represents an increase of 5.9% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$79K

YoY-89.7%

5Y CAGR-21.7%

Latch Inc invested $79K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 89.7% from the prior year.

LTCHW Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$70.1M+23.8%	$56.6M+26.0%	$45.0M+4.7%	$43.0M+55.6%	$27.6M+112.5%	$13.0M
Cost of Revenue	$43.3M+36.8%	$31.6M-3.1%	$32.6M-30.4%	$46.9M+43.6%	$32.7M+109.0%	$15.6M
Gross Profit	$26.9M+7.4%	$25.0M+102.8%	$12.3M+414.1%	-$3.9M+22.1%	-$5.0M-91.9%	-$2.6M
R&D Expenses	$18.3M+5.9%	$17.3M-48.7%	$33.8M-38.5%	$54.9M+18.9%	$46.2M+79.1%	$25.8M
SG&A Expenses	$24.0M-46.0%	$44.5M-32.8%	$66.2M+19.7%	$55.3M-9.1%	$60.8M+205.1%	$19.9M
Operating Income	-$52.7M+11.3%	-$59.4M+46.1%	-$110.3M+33.3%	-$165.2M-10.5%	-$149.5M-136.7%	-$63.1M
Interest Expense	$3.0M-32.9%	$4.5M-22.7%	$5.8M-22.2%	$7.4M-18.2%	$9.1M+165.5%	$3.4M
Income Tax	$0-100.0%	$2K-93.3%	$30K-66.3%	$89K+67.9%	$53K+562.5%	$8K
Net Income	-$53.7M+6.7%	-$57.6M+46.4%	-$107.5M+33.8%	-$162.3M+2.9%	-$167.1M-147.9%	-$67.4M
EPS (Diluted)	$-0.34+8.1%	$-0.37+48.6%	$-0.72+36.3%	$-1.13+41.5%	$-1.93	$-9.31

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$15.7M-12.1%	$17.9M+2.5%	$17.4M-8.5%	$19.1M+20.8%	$15.8M-5.6%	$16.7M+11.9%	$14.9M+15.5%	$12.9M
Cost of Revenue	$7.5M-48.1%	$14.4M+48.4%	$9.7M-10.6%	$10.9M+30.9%	$8.3M-18.5%	$10.2M+14.8%	$8.9M+26.6%	$7.0M
Gross Profit	$8.2M+137.7%	$3.5M-55.2%	$7.7M-5.8%	$8.2M+9.6%	$7.5M+14.5%	$6.5M+7.5%	$6.1M+2.4%	$5.9M
R&D Expenses	$3.8M-15.6%	$4.5M+19.5%	$3.8M-15.6%	$4.5M-20.9%	$5.6M+6.2%	$5.3M+8.8%	$4.9M+65.8%	$2.9M
SG&A Expenses	$4.7M-12.9%	$5.4M+7.3%	$5.0M-14.3%	$5.9M-24.6%	$7.8M+153.2%	$3.1M-76.1%	$12.8M-23.3%	$16.7M
Operating Income	-$5.5M+80.0%	-$27.8M-339.3%	-$6.3M+16.6%	-$7.6M+31.2%	-$11.0M-7.7%	-$10.2M+41.1%	-$17.4M+2.3%	-$17.8M
Interest Expense	$568K-15.6%	$673K-4.4%	$704K-7.1%	$758K-12.6%	$867K-3.5%	$898K-2.6%	$922K-16.2%	$1.1M
Income Tax	$0	$0	$0	$0	$0	$0	$0	$0
Net Income	-$5.9M+78.8%	-$28.1M-326.4%	-$6.6M+16.1%	-$7.8M+30.2%	-$11.3M-12.9%	-$10.0M+41.6%	-$17.1M-0.7%	-$16.9M
EPS (Diluted)	$-0.04	N/A	$-0.04+20.0%	$-0.05+28.6%	$-0.07	N/A	$-0.110.0%	$-0.11

LTCHW Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$106.8M-45.6%	$196.4M-33.3%	$294.4M-7.0%	$316.7M-29.6%	$449.6M+401.7%	$89.6M
Current Assets	$64.9M-50.1%	$130.2M-45.0%	$236.9M-15.1%	$278.9M-15.9%	$331.4M+312.4%	$80.4M
Cash & Equivalents	$34.6M-50.7%	$70.2M-25.8%	$94.7M-13.8%	$109.8M-12.0%	$124.8M+106.2%	$60.5M
Inventory	$15.3M+6.1%	$14.4M-13.2%	$16.6M-43.7%	$29.4M+27.6%	$23.1M+178.2%	$8.3M
Accounts Receivable	$8.0M-19.3%	$9.9M+64.4%	$6.0M-14.6%	$7.0M-40.9%	$11.9M+44.5%	$8.2M
Goodwill	$13.6M-55.0%	$30.2M+19.3%	$25.3M	$0	N/A	N/A
Total Liabilities	$48.8M-42.8%	$85.2M-32.0%	$125.3M+65.1%	$75.9M+0.4%	$75.6M-69.2%	$245.5M
Current Liabilities	$28.2M-50.6%	$57.2M-39.4%	$94.3M+113.1%	$44.3M+3.9%	$42.6M+259.4%	$11.9M
Long-Term Debt	$3.3M-26.2%	$4.5M	$0	N/A	N/A	$5.5M
Total Equity	$58.0M-47.8%	$111.2M-34.3%	$169.1M-29.7%	$240.8M-35.6%	$374.0M+339.8%	-$155.9M
Retained Earnings	-$712.5M-8.2%	-$658.7M-9.6%	-$601.1M-21.8%	-$493.6M-49.0%	-$331.2M-104.2%	-$162.2M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$99.4M-7.0%	$106.8M-24.6%	$141.6M-8.6%	$155.0M-11.0%	$174.1M-11.3%	$196.4M-8.0%	$213.5M-7.4%	$230.5M
Current Assets	$57.7M-11.2%	$64.9M-18.4%	$79.6M-14.8%	$93.4M-16.3%	$111.6M-14.2%	$130.2M-13.1%	$149.8M-12.4%	$171.0M
Cash & Equivalents	$27.9M-19.3%	$34.6M-18.7%	$42.6M-8.9%	$46.7M-20.4%	$58.7M-16.4%	$70.2M-15.0%	$82.6M-5.6%	$87.5M
Inventory	$12.7M-16.7%	$15.3M+0.9%	$15.1M-16.9%	$18.2M-6.4%	$19.4M+35.3%	$14.4M+8.4%	$13.3M+13.1%	$11.7M
Accounts Receivable	$5.9M-25.8%	$8.0M+0.5%	$7.9M-31.6%	$11.6M-7.6%	$12.5M+27.0%	$9.9M-9.5%	$10.9M-14.4%	$12.7M
Goodwill	$13.6M0.0%	$13.6M-55.0%	$30.2M0.0%	$30.2M0.0%	$30.2M0.0%	$30.2M0.0%	$30.2M+16.8%	$25.9M
Total Liabilities	$47.1M-3.4%	$48.8M-12.5%	$55.7M-11.1%	$62.7M-15.2%	$74.0M-13.2%	$85.2M-1.1%	$86.1M-2.0%	$87.9M
Current Liabilities	$28.1M-0.6%	$28.2M-15.4%	$33.4M-13.2%	$38.5M-19.4%	$47.8M-16.5%	$57.2M+3.1%	$55.5M-7.9%	$60.2M
Long-Term Debt	$3.0M-9.7%	$3.3M-8.9%	$3.7M-8.1%	$4.0M-7.5%	$4.3M-4.7%	$4.5M-6.7%	$4.8M	N/A
Total Equity	$52.3M-9.9%	$58.0M-32.5%	$85.9M-6.9%	$92.3M-7.9%	$100.2M-9.9%	$111.2M-12.7%	$127.4M-10.7%	$142.6M
Retained Earnings	-$718.4M-0.8%	-$712.5M-4.1%	-$684.4M-1.0%	-$677.8M-1.2%	-$670.0M-1.7%	-$658.7M-1.5%	-$648.8M-2.7%	-$631.7M

LTCHW Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$35.9M+52.4%	-$75.4M-15.0%	-$65.6M+51.5%	-$135.2M-27.0%	-$106.5M-96.3%	-$54.3M
Capital Expenditures	$79K-89.7%	$766K+134.3%	$327K-85.4%	$2.2M+45.3%	$1.5M+472.9%	$269K
Free Cash Flow	-$36.0M+52.8%	-$76.2M-15.6%	-$65.9M+52.1%	-$137.5M-27.2%	-$108.1M-98.2%	-$54.5M
Investing Cash Flow	$1.7M-97.7%	$72.9M+44.4%	$50.5M-60.1%	$126.4M+145.6%	-$277.0M-5612.8%	-$4.8M
Financing Cash Flow	-$1.2M+94.4%	-$22.0M	$0+100.0%	-$6.0M-101.3%	$447.8M+584.6%	$65.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$5.1M+33.7%	-$7.8M-58.4%	-$4.9M+62.7%	-$13.1M-29.3%	-$10.1M+24.5%	-$13.4M+23.2%	-$17.5M-30.7%	-$13.4M
Capital Expenditures	N/A	$5K+266.7%	-$3K-103.9%	$77K	$0-100.0%	$536K+182.1%	$190K+533.3%	$30K
Free Cash Flow	N/A	-$7.8M-58.4%	-$4.9M+62.8%	-$13.2M-30.1%	-$10.1M+27.4%	-$14.0M+21.0%	-$17.7M-31.8%	-$13.4M
Investing Cash Flow	-$1.4M-994.2%	$156K-85.2%	$1.1M-25.3%	$1.4M+250.9%	-$935K-192.4%	$1.0M-92.0%	$12.6M-10.2%	$14.1M
Financing Cash Flow	-$333K+0.3%	-$334K-0.3%	-$333K0.0%	-$333K-49.3%	-$223K	$0	$0+100.0%	-$22.0M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

LTCHW Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	38.3%-5.8pp	44.1%+16.7pp	27.4%+36.5pp	-9.1%+9.1pp	-18.3%+2.0pp	-20.2%
Operating Margin	-75.2%+29.7pp	-104.9%+140.3pp	-245.3%+139.4pp	-384.7%+156.7pp	-541.4%-55.4pp	-486.0%
Net Margin	-76.6%+25.1pp	-101.7%+137.5pp	-239.2%+138.7pp	-377.9%+227.4pp	-605.3%-86.5pp	-518.8%
Return on Equity	-92.7%-40.8pp	-51.8%+11.8pp	-63.6%+3.8pp	-67.4%-22.7pp	-44.7%	N/A
Return on Assets	-50.3%-21.0pp	-29.3%+7.2pp	-36.5%+14.7pp	-51.3%-14.1pp	-37.2%+38.1pp	-75.2%
Current Ratio	2.30+0.0	2.28-0.2	2.51-3.8	6.30-1.5	7.78+1.0	6.78
Debt-to-Equity	0.06+0.0	0.04+0.0	0.00-0.3	0.32+0.1	0.20	N/A
FCF Margin	-51.3%+83.2pp	-134.5%+12.1pp	-146.6%+173.4pp	-320.1%+71.3pp	-391.4%+28.3pp	-419.6%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	52.3%+33.0pp	19.4%-24.9pp	44.3%+1.3pp	43.0%-4.4pp	47.4%+8.3pp	39.1%-1.6pp	40.6%-5.2pp	45.9%
Operating Margin	-35.3%+120.3pp	-155.6%-119.3pp	-36.3%+3.5pp	-39.8%+30.1pp	-69.9%-8.6pp	-61.3%+55.1pp	-116.3%+21.2pp	-137.6%
Net Margin	-37.8%+119.3pp	-157.1%-119.4pp	-37.8%+3.4pp	-41.2%+30.1pp	-71.3%-11.7pp	-59.6%+54.5pp	-114.1%+16.8pp	-130.9%
Return on Equity	-11.4%+37.0pp	-48.4%-40.7pp	-7.7%+0.8pp	-8.5%+2.7pp	-11.2%-2.3pp	-9.0%+4.4pp	-13.4%-1.5pp	-11.9%
Return on Assets	-6.0%+20.3pp	-26.3%-21.6pp	-4.7%+0.4pp	-5.1%+1.4pp	-6.5%-1.4pp	-5.1%+2.9pp	-8.0%-0.6pp	-7.3%
Current Ratio	2.05-0.2	2.30-0.1	2.38-0.0	2.43+0.1	2.34+0.1	2.28-0.4	2.70-0.1	2.84
Debt-to-Equity	0.060.0	0.06+0.0	0.040.0	0.040.0	0.040.0	0.040.0	0.04-0.6	0.62
FCF Margin	N/A	-43.4%-15.3pp	-28.1%+41.1pp	-69.2%-4.9pp	-64.3%+19.3pp	-83.6%+34.7pp	-118.3%-14.6pp	-103.7%

Frequently Asked Questions

What is Latch Inc's annual revenue?

Latch Inc (LTCHW) reported $70.1M in total revenue for fiscal year 2025. This represents a 23.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Latch Inc's revenue growing?

Latch Inc (LTCHW) revenue grew by 23.8% year-over-year, from $56.6M to $70.1M in fiscal year 2025.

Is Latch Inc profitable?

No, Latch Inc (LTCHW) reported a net income of -$53.7M in fiscal year 2025, with a net profit margin of -76.6%.

What is Latch Inc's EBITDA?

Latch Inc (LTCHW) had EBITDA of -$47.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Latch Inc have?

As of fiscal year 2025, Latch Inc (LTCHW) had $34.6M in cash and equivalents against $3.3M in long-term debt.

What is Latch Inc's gross margin?

Latch Inc (LTCHW) had a gross margin of 38.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Latch Inc's operating margin?

Latch Inc (LTCHW) had an operating margin of -75.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Latch Inc's net profit margin?

Latch Inc (LTCHW) had a net profit margin of -76.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Latch Inc's return on equity (ROE)?

Latch Inc (LTCHW) has a return on equity of -92.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Latch Inc's free cash flow?

Latch Inc (LTCHW) generated -$36.0M in free cash flow during fiscal year 2025. This represents a 52.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Latch Inc's operating cash flow?

Latch Inc (LTCHW) generated -$35.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Latch Inc's total assets?

Latch Inc (LTCHW) had $106.8M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Latch Inc's capital expenditures?

Latch Inc (LTCHW) invested $79K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Latch Inc spend on research and development?

Latch Inc (LTCHW) invested $18.3M in research and development during fiscal year 2025.

How many shares does Latch Inc have outstanding?

Latch Inc (LTCHW) had 164M shares outstanding as of fiscal year 2025.

What is Latch Inc's current ratio?

Latch Inc (LTCHW) had a current ratio of 2.30 as of fiscal year 2025, which is generally considered healthy.

What is Latch Inc's debt-to-equity ratio?

Latch Inc (LTCHW) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Latch Inc's return on assets (ROA)?

Latch Inc (LTCHW) had a return on assets of -50.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Latch Inc's cash runway?

Based on fiscal year 2025 data, Latch Inc (LTCHW) had $34.6M in cash against an annual operating cash burn of $35.9M. This gives an estimated cash runway of approximately 12 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Latch Inc's Piotroski F-Score?

Latch Inc (LTCHW) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Latch Inc's earnings high quality?

Latch Inc (LTCHW) has an earnings quality ratio of 0.67x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Latch Inc cover its interest payments?

Latch Inc (LTCHW) has an interest coverage ratio of -17.6x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.