Welcome to our dedicated page for Latch news (Ticker: LTCH), a resource for investors and traders seeking the latest updates and insights on Latch stock.
News about Latch, Inc. (LTCH), operating under the DOOR brand, centers on its evolution as a Building Intelligence and residential technology company. Press releases highlight the company’s efforts to combine software, devices, and services into a unified platform that supports owners, operators, and residents across residential portfolios and purpose-built communities.
Investors and observers following LTCH news will find updates on DOOR’s progress toward becoming current with its SEC reporting obligations, including the filing of restated and subsequent Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. The company frequently provides financial and business highlights, preliminary unaudited revenue and liquidity estimates, and discussions of Adjusted EBITDA and other key business metrics in these announcements.
Company news also covers product and platform developments. Latch and DOOR have announced smart sensors and IoT products such as the Latch Leak Detector, Latch Lasso, Latch Field Station, Latch Temperature and Humidity Sensor, Latch Connected Thermostat, and the AI-powered DOOR Bug leak and event detector. Additional coverage includes access control and retrofit offerings like the M3 Retrofit Lock, the Latch R2 reader and R2 Retrofit Kit, as well as DOOR Link and DOOR Solar Sign for entry and branding.
Other recurring themes in LTCH news include leadership changes, the establishment of a St. Louis headquarters, marketing campaigns focused on Net Operating Income for multifamily buildings, and the expansion of services such as DOOR Property Management and the integration of HelloTech. For readers tracking LTCH, this news feed provides a view into the company’s financial reporting milestones, product roadmap, and strategic direction in the building technology and residential living space.
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Latch, Inc. (NASDAQ: LTCH) announced on April 5, 2023, that it received approval from a Nasdaq Hearings Panel to continue its listing on the Nasdaq Global Select Market, contingent upon compliance with Listing Rule 5250(c)(1) by August 4, 2023. The company has faced delisting notifications due to failures in filing its Quarterly Reports on Form 10-Q and its Annual Report on Form 10-K, which stem from the ongoing restatement of its financial statements for previous years. Notably, Latch must submit the Annual Report, the delinquent quarterly reports, and the First Quarter 2023 Report to ensure compliance. Failure to meet the deadline may result in delisting from Nasdaq, although the recent notice does not immediately affect trading of its shares. The company highlights risks regarding future reporting and compliance.
On March 13, 2023, Latch (NASDAQ: LTCH) announced its awareness of the FDIC taking control of Silicon Valley Bank (SVB) due to liquidity issues. Latch holds approximately $3.1 million in deposits with SVB, representing less than 2% of its total cash and equivalents of about $215.4 million. The company does not have deposits with Signature Bank, also under FDIC control. Following SVB's closure, Latch plans to transfer its deposits to a reputable bank and does not anticipate material losses from its assets held by U.S. Bank. However, there may be delays in transitioning investment management services previously managed by SVB Asset Management.
Latch, Inc. (Nasdaq: LTCH) announced that the Nasdaq Hearings Panel has granted its request for an extension of the automatic stay of suspension. This decision follows a notification from Nasdaq regarding potential delisting due to the company's failure to file Quarterly Reports on Form 10-Q for the periods ended June 30, 2022, and September 30, 2022. The hearing before the Panel is scheduled for March 23, 2023, where a final determination on the company's listing status will be made.
Latch, Inc. (NASDAQ: LTCH) announced on February 7, 2023, that it received a Staff Delisting Determination from Nasdaq due to non-compliance with Listing Rule 5250(c)(1), which requires timely filing of financial reports. The Company did not file its Quarterly Reports for the periods ending June 30 and September 30, 2022, by the Extension Deadline of February 6, 2023. Latch intends to appeal this determination, which will temporarily stay any suspension or delisting for 15 days. The Company plans to prepare and file the Relevant Financial Statements after audits, but faces uncertainty on meeting deadlines set by the Nasdaq Hearings Panel.
Latch, Inc. (NASDAQ: LTCH) has appointed Jason Keyes as interim CEO and Marc Landy as interim CFO following the resignations of Luke Schoenfelder and other key executives. The Board expressed gratitude for Schoenfelder's leadership since co-founding the company in 2014 and emphasized its confidence in the new leadership team to enhance operational performance. Keyes aims to build upon the company's momentum and strong financial position while focusing on sustainable growth and improved customer experience. A search for permanent executives is underway.
On November 14, 2022, Latch (NASDAQ: LTCH) received a notice from Nasdaq regarding its non-compliance with Listing Rule 5250(c)(1) due to the failure to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2022. This follows a previous failure to file the Second Quarter Form 10-Q. Latch has until November 28, 2022, to update its Compliance Plan. Although this notice does not immediately affect trading, failure to regain compliance could result in delisting. The Company aims to file the reports as soon as possible.
Latch, Inc. (NASDAQ: LTCH) has achieved 100 million annual unlocks via the Latch app, announcing advancements including LatchOS2. This new full-building operating system features Dioramic Controls for a 3D interface, Concierge for service booking, and OpenKit for partner integrations. LatchOS2 aims to enhance operational efficiency for real estate operators by monetizing amenities. New features will begin rolling out this Fall, with full availability expected in 2023. CEO Luke Schoenfelder emphasizes that this positions Latch as a leader in innovative property management solutions.
Latch, Inc. (NASDAQ: LTCH) announced the launch of two innovative products, Latch T and Latch Link, designed for retrofitting properties efficiently. These offerings enable seamless upgrades of existing buildings to a unified mobile access and intercom system. The Latch T can be installed wirelessly and integrates with legacy systems, while the Latch Link provides an affordable, QR code-based intercom solution. Both products enhance the LatchOS ecosystem, aiming to improve residential spaces across the U.S., available this Fall.