Latch Q1 software revenue rises on DOOR platform subscription growth

Latch

15/05/2026 21:26

Overview

US building intelligence platform's Q1 revenue was flat yr/yr as software gains offset services decline

Software revenue grew 19% on continued subscription growth

Net loss narrowed 47% and adjusted EBITDA loss improved 46% amid lower operating expenses

Outlook

Company aims to grow revenue by adding new buildings to the DOOR ecosystem in 2026

Company expects to reduce cash usage going forward

Company expects debt refinancing to reduce 2026 debt service costs by about $0.9 mln

Result Drivers

SOFTWARE SUBSCRIPTION GROWTH - Software revenue rose 19% yr/yr, driven by continued subscription growth on the DOOR platform

HARDWARE SHIPMENTS - Hardware revenue grew 7.9% yr/yr due to higher unit shipments

PROFESSIONAL SERVICES DECLINE - Professional services revenue fell 20.9% yr/yr, primarily due to lower installation activity

Company press release: ID:nPnPlK0Sa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$15.70 mln
Q1 Net Income
-$5.94 mln
Q1 Adjusted EBITDA
-$3.95 mln
Q1 Software Revenue
$6.14 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)