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.
Latch, Inc. (LTCH), operating under the DOOR brand, reports on a building-intelligence business that combines hardware, software and automated services for residential portfolios and purpose-built communities. Company news centers on access control and smart-building solutions for property owners, operators and residents, along with financial updates that discuss software revenue, total revenue, net loss, adjusted EBITDA and liquid assets.
Recent corporate updates also cover the company’s return to current SEC reporting, its completed restatement of prior financial statements, OTC market status for LTCH shares, leadership changes and disclosure matters tied to revenue recognition, internal controls, stockholder litigation and an SEC investigation.
Latch (NASDAQ: LTCH) has announced significant leadership changes as Garth Mitchell transitions out of the company after three years. Barry Schaeffer will take over as interim CFO, while Junji Nakamura becomes the Chief Accounting Officer. These adjustments signal the company's commitment to growth and operational excellence. Schaeffer, who has been with Latch since August 2021, has a strong background in finance and will play a critical role during this transition. Latch's CEO expressed gratitude for the departing executives’ contributions towards revenue growth and emphasized the importance of these leadership changes for future success.
Latch, Inc. reported a strong fourth quarter of 2021 with revenue of $14.5 million, up 94% year-over-year. Total bookings reached $96.8 million, a 113% increase compared to 2020, while booked ARR surged by 130% to $71.5 million. For the full year, revenue climbed 129% to $41.4 million. However, the net loss grew to $166.3 million, up 152% from the previous year. Latch provided strong guidance for 2022, expecting total revenue between $75 million and $100 million, signaling continued growth.
Latch, Inc. (NASDAQ: LTCH) will report its financial results for Q4 and the year ending December 31, 2021, on February 24, 2022, after market close. The company will hold a conference call for investors and analysts at 5:00 p.m. ET on the same day to discuss these results. Investors can dial in or access the live webcast on the Latch website. The company provides LatchOS, a SaaS platform, and has a presence in over 43 states, with more than 10% of new U.S. apartments featuring its products.
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Latch, Inc. (NASDAQ: LTCH) has achieved significant recognition, ranking #101 on the Deloitte Technology Fast 500™. This ranking underscores Latch's rapid revenue growth from 2017 to 2020. The company's innovations include LatchOS, enhancing real estate management. In 2021, Latch went public and introduced several new products and partnerships, strengthening its market position.
Serve Robotics announced the appointment of Euan Abraham as Senior Vice President of Hardware Engineering, effective January 2022. With over two decades of experience, Abraham has previously held senior positions at notable companies like Apple and GoPro. His leadership is expected to enhance the development of Serve's sustainable, self-driving delivery robots. The company aims to expand its contactless delivery services in more cities, backed by support from investors like Uber. Serve Robotics has completed tens of thousands of deliveries in Los Angeles and San Francisco.
Latch, Inc. (NASDAQ: LTCH) has announced new partnerships with Marks USA, TownSteel, and plans to partner with dormakaba. These alliances aim to enhance their LatchOS platform, expanding its reach to residents, property managers, and guests. Key offerings will include the new Latch Lens integration with Marks’ locks, an interconnect lock solution with TownSteel, and a connection with dormakaba’s devices to broaden geographic access. The partnerships are seen as pivotal for Latch's growth in new market segments and lock formats, addressing rising demand and improving user experience.
Latch, Inc. (NASDAQ: LTCH) reported a record revenue of $11.2 million for Q3 2021, reflecting a 120% year-over-year growth. Total bookings reached $96.0 million, a 181% increase, while booked ARR hit $59.8 million, up 126%. Despite strong growth, the company posted a GAAP net loss of $34.2 million, a 116% increase compared to Q3 2020. Latch has updated its 2021 guidance, projecting revenue between $38 million and $42 million for the year. The launch of the new Latch M mortise lock and the hiring of industry expert Lee Odess as GM for New Market Development were also key highlights.
Latch, Inc. (NASDAQ: LTCH) announced it will report third-quarter financial results on November 9, 2021, after market close. The company will host a conference call at 5:00 p.m. ET to discuss these results, accessible by calling (833) 562-0132 (U.S.) or (661) 567-1107 (international). Latch, known for its LatchOS software platform, is a key player in the construction of modern apartments, with over 10% of new builds in the U.S. incorporating its products. For further details, visit Latch's investor relations page.
Latch (NASDAQ: LTCH) reported impressive financial results for Q2 2021, with Total Bookings reaching $95.8 million, up 102% year-over-year. Revenue soared to $9.0 million, marking a 227% increase compared to the same period last year. Despite strong growth, the company posted a GAAP net loss of $40.1 million. Looking ahead, Latch expects Total Bookings for Q3 to be between $85 million and $90 million, while full-year revenue guidance is set at $38 million to $42 million.