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, maker of LatchOS, a comprehensive software-as-a-service platform, announced its participation in the KeyBanc Future of Technology Series Conference. CEO Luke Schoenfelder will present on August 9, 2021, at 2:30 PM ET. Latch is recognized for enhancing living and working environments, with its products used in over 10% of new U.S. apartments. The company's operating system, LatchOS, serves clients across 39 states. For more details, visit Latch's website.
Latch, Inc. (NASDAQ: LTCH) will announce its second quarter 2021 financial results on August 12, 2021, after market close. A conference call for investors and analysts is scheduled for the same day at 5:00 p.m. ET. Interested parties can join by dialing (833) 562-0132 in the U.S. or Canada, or (661) 567-1107 internationally, using Conference ID: 7130858. The webcast will be available live on its Investor Relations webpage, with a recording accessible afterward. Latch's platform, LatchOS, is significantly integrated into over 10% of new U.S. apartments.
Latch reported robust financial results for Q1 2021, with revenue of $6.6 million, a 143% year-over-year increase. Booked ARR reached $38.9 million and total bookings amounted to $71.7 million, reflecting increases of 120% and 89%, respectively. Despite these positive growth metrics, the company incurred a GAAP net loss of $38.1 million, a 139% rise from the previous year. Looking ahead, Latch expects Q2 revenue between $9 million and $10 million and full-year revenue guidance of $47 million to $51 million.
Latch, Inc. (NASDAQ: LTCH) will participate in two upcoming investor conferences. The first is the Bank of America 2021 Global Technology Conference on June 10 at 9:15 am ET, featuring CEO Luke Schoenfelder and CFO Garth Mitchell. The second is the Baird 2021 Global Consumer, Technology & Services Conference, also on June 10 at 2:00 pm ET. Both presentations will be available via live webcasts. Latch's software platform, LatchOS, is currently used in over 10% of new U.S. apartment constructions, enhancing living and working spaces nationwide.
Latch, the creator of the full-building SaaS platform LatchOS, has officially begun trading on NASDAQ under the ticker LTCH on June 4, 2021. This follows its merger with TS Innovation Acquisitions Corp., which was approved on June 3, 2021. Latch has secured approximately $453 million in cash proceeds, intended for growth initiatives such as expanding its platform and entering new markets. The company plans to report its Q1 2021 financial results on June 9, 2021, and aims to enhance shareholder value through strategic objectives and product innovations.