Latch Stock Price, News & Analysis

Latch, Inc. (LTCH), which has rebranded its customer-facing identity as DOOR, is a software-driven Building Intelligence company in the information sector. According to company disclosures, DOOR describes itself as a business that is redefining how buildings operate by combining hardware, software, and services into a single system. The company’s common stock continues to trade on the OTC Markets under the ticker symbol LTCH, and it continues to operate under the legal name Latch, Inc. while it transitions to the DOOR brand.

In its "About" statements, Latch explains that it "makes spaces better places to live, work, and visit through a system of software, devices, and services." Under the DOOR brand, the company characterizes itself as a Building Intelligence and residential living platform that brings together access control, Internet of Things (IoT) integrations, and automated services. DOOR states that its approach is intended to help properties "think ahead, reduce overhead, and quietly improve life inside" residential portfolios and purpose-built communities.

Business focus and platform

Company communications describe a platform centered on a DOOR app and related software tools that connect with devices and services in multi-family and other residential buildings. DOOR states that the app brings together products, services, technology, and community to reduce costs for building owners and deliver the connected living experience residents expect. The platform is anchored by an AI assistant referred to as the "Doorman," which the company says combines building-specific technology and data to provide timely and relevant information to residents and property managers.

Latch highlights its heritage in access control and entry systems and notes that DOOR is built on this foundation. The company emphasizes solutions for multifamily access control, smart building management, and monitoring of building conditions. Its communications reference a "full suite of products" designed to help customers operate buildings more efficiently and intelligently, with the goal of supporting property managers, owners, and residents.

Products, devices, and services

Public announcements describe a range of hardware and IoT offerings that connect to Latch and DOOR software:

• Smart sensors and IoT products – Latch has introduced a suite of smart sensors and IoT devices that can be monitored through its applications. Examples mentioned by the company include the Latch Leak Detector, Latch Lasso, Latch Field Station, Latch Temperature and Humidity Sensor, and Latch Connected Thermostat. These devices are described as tools to help detect water leaks, monitor environmental conditions, and support building oversight.
• DOOR Bug – The company announced DOOR Bug as an AI-powered event and leak detector intended to monitor for running toilets, sink leaks, and other household issues and to alert property managers about potential problems before they escalate.
• Access control and retrofit solutions – Latch communications reference access control products such as the M3 Retrofit Lock, designed to retrofit common mortise locks, and the Latch R2 door access reader. The R2 Retrofit Kit is described as a way to replace outdated door access readers with the mobile-enabled Latch R2 using existing wiring, with an emphasis on ease of installation and cost efficiency.
• Intercom and signage – DOOR Link is described as a QR code-powered intercom that can be installed at an entryway and scanned with a smartphone to open a virtual intercom, without requiring a power source or subscription. The DOOR Solar Sign is presented as an exterior sign for buildings managed by DOOR Property Management to increase awareness of who manages the property, with a version under development that incorporates the Link QR code.
• Property management and services – The company has discussed DOOR Property Management, which it associates with operating the "entire property stack" from physical management to technology solutions. It has also referenced the acquisition of HelloTech, described as a service platform for on-demand installation, setup, and connected device support, and the James app, which it describes as an app that enables drivers to book clients and manage their businesses.

Across these offerings, Latch and DOOR emphasize affordability, ease of installation, and the goal of helping building owners and operators monitor properties, prevent avoidable damage, and support residents.

Technology and analytics

In its descriptions of the DOOR platform, the company emphasizes the use of AI and machine learning. DOOR states that the DOOR app and its AI assistant leverage building data and automation to reduce costs for building owners while enhancing the residential living experience. The company also notes that its DOOR Bug sensor uses AI to detect events such as leaks and that, through software updates, the same hardware is expected to be adaptable to monitor additional building systems.

Company materials also reference the use of key business metrics and non-GAAP measures such as Adjusted EBITDA to evaluate performance, identify trends, and inform strategic decisions. Latch and DOOR state that they monitor these metrics to understand operating performance and to guide business planning, while noting limitations and differences in how other companies may calculate similar measures.

Corporate evolution and trading venue

Latch has communicated several significant corporate developments. The company reported that it received an expected Nasdaq delisting determination in 2023 related to periodic filing obligations and indicated that its securities were expected to trade on the OTC Expert Market. Later updates state that the company’s shares trade on the OTC Markets under the symbol LTCH. Latch has also described a multi-year process of restating historical financial statements and working to become current with SEC reporting obligations, including the filing of a restated 2022 Annual Report on Form 10-K and subsequent 2024 and 2025 SEC reports.

In parallel, the company has described a brand transition from Latch to DOOR. Multiple press releases refer to Latch, Inc. as "soon to be DOOR" or note that DOOR continues to operate under the legal name Latch, Inc. while the corporate name and ticker update are expected at a later date. The DOOR brand is presented as the umbrella for the company’s Building Intelligence platform, DOOR app, and related products and services.

Headquarters and organizational focus

Company announcements state that DOOR is headquartered in St. Louis. Latch has highlighted the establishment of a headquarters and warehouse in St. Louis and has noted that its leadership team is based there. The company describes its focus as serving owners, operators, and residents across residential portfolios and purpose-built communities, with an emphasis on multifamily buildings.

Financial reporting and metrics

In recent updates, DOOR has emphasized progress toward becoming current with SEC filing obligations. It has announced the filing of its 2024 Annual Report on Form 10-K, Quarterly Reports on Form 10-Q for 2024, and a Quarterly Report on Form 10-Q for the first quarter of 2025. The company has provided selected financial and business highlights in press releases, along with preliminary, unaudited estimates of revenues, net loss, Adjusted EBITDA, and liquid assets for certain periods. DOOR cautions that these preliminary figures are subject to change until it completes its financial procedures and becomes current with its SEC filings.

The company also discusses the use of non-GAAP financial measures, particularly Adjusted EBITDA, which it defines in detail in its communications. Latch and DOOR state that Adjusted EBITDA is used by management and the board of directors to understand operating performance, set budgets, and develop operational goals, while noting that such measures are not prepared in accordance with GAAP and have limitations.

Risk, litigation, and restatement context

Latch has disclosed that its audit committee conducted an investigation into key performance indicators and revenue recognition practices for prior periods, which led to a determination that certain historical financial statements should no longer be relied upon and to a comprehensive financial statement review. The company identified errors related to revenue recognition, expense recognition, internally developed software, and stock-based compensation, among other items, and subsequently restated financial statements for specified periods.

In more recent updates, DOOR has noted outflows related to stockholder litigation, a pending SEC investigation, professional service fees associated with preparing SEC reports, and restructuring activities. The company has highlighted these items in the context of changes in its liquid assets and has indicated that such expenses are treated as non-ordinary course legal fees and settlement reserves in its Adjusted EBITDA calculations.

Position within the software and building technology space

Within the broader software publishers and building technology landscape, Latch and DOOR present themselves as focused on the intersection of access control, IoT devices, property management, and AI-enabled building intelligence. Their public communications emphasize residential and multifamily properties, cost management for building owners, and the goal of improving everyday living experiences for residents through integrated hardware, software, and services.

FAQs about Latch, Inc. (LTCH) and DOOR

• What does Latch, Inc. do?
  According to its public statements, Latch, Inc. makes spaces better places to live, work, and visit through a system of software, devices, and services. Under the DOOR brand, the company describes itself as a Building Intelligence business that combines hardware, software, and automated services to help buildings operate more intelligently.
• How is DOOR related to Latch?
  Company communications state that Latch, Inc. has rebranded as DOOR for its customer-facing identity. DOOR continues to operate under the legal name Latch, Inc., and the company has indicated that a corporate name and ticker update are expected at a later date.
• Where is DOOR headquartered?
  Press releases describe DOOR as headquartered in St. Louis. The company has highlighted its St. Louis headquarters and warehouse and has noted that its leadership team is based there.
• On which market does LTCH trade?
  Latch has stated that its common stock trades on the OTC Markets under the symbol LTCH. Earlier communications referenced an expected transition from Nasdaq to the OTC Expert Market following a Nasdaq delisting determination.
• What types of products does Latch/DOOR offer?
  Public announcements describe access control systems, smart locks and readers, QR code-powered intercoms, smart sensors, leak detectors, thermostats, and other IoT devices, along with software applications such as the DOOR app and Latch Manager app. These offerings are presented as tools for monitoring and managing residential buildings.
• What is the DOOR app?
  The company describes the DOOR app as a platform that brings together products, services, technology, and community to enhance residential living and reduce costs for building owners. It is anchored by an AI assistant called the Doorman, which is intended to provide relevant information to residents and property managers and to support tasks such as access control and monitoring building conditions.
• What is DOOR Bug?
  DOOR Bug is described as an AI-powered event and leak detector that monitors for running toilets, sink leaks, and other household problems and alerts property managers to potential issues. The company states that the device is part of its smart sensor lineup and is intended to help prevent costly water damage and other avoidable events.
• What is the R2 Retrofit Kit?
  Latch has announced the R2 Retrofit Kit as a product that enables property managers to replace outdated door access readers with the mobile-enabled Latch R2 reader using existing wiring. The company emphasizes ease of installation, compatibility with existing infrastructure, and cost efficiency for building upgrades.
• What is DOOR Property Management?
  Company communications refer to DOOR Property Management as an offering that allows the business to operate the property stack from physical management to technology solutions. It is mentioned in connection with managing buildings and deploying DOOR’s technology and services.
• Why did Latch restate its financial statements?
  Latch has reported that its audit committee investigated key performance indicators and revenue recognition practices and determined that certain historical financial statements should no longer be relied upon. The company identified errors related to revenue recognition, expense recognition, internally developed software, and stock-based compensation and subsequently restated financial statements for specified periods, as described in its 2022 Annual Report on Form 10-K.
• How does Latch/DOOR use non-GAAP measures like Adjusted EBITDA?
  The company states that it uses Adjusted EBITDA, which excludes certain items such as depreciation and amortization, interest, taxes, restructuring costs, non-ordinary course legal fees and settlement reserves, stock-based compensation, and other specified items, to evaluate operating performance and inform budgeting and operational goals. It notes that Adjusted EBITDA is not a substitute for GAAP measures and has limitations.
• Is Latch, Inc. still working to become current with SEC filings?
  Recent press releases state that DOOR views the filing of its 2024 and 2025 SEC reports as milestones toward regaining current SEC reporting status and that it is working diligently to complete remaining filings. The company has also provided preliminary, unaudited financial information in connection with this effort, with cautions about the preliminary nature of those figures.