Latch Q2 software revenue rises on expanding platform adoption

Latch

10/08/2026 13:26

Overview
US building intelligence software provider's Q2 software revenue grew 17% yr/yr, total revenue fell 18%
Net loss for Q2 narrowed 12% yr/yr, adjusted EBITDA loss improved 38%
Company announced restructuring plan to cut annualized operating costs by $10-12 mln

Outlook
Company expects restructuring plan to reduce annualized operating costs by $10 mln to $12 mln
Latch plans to focus resources on AI-enabled software and Building Intelligence platform
Company anticipates several additional AI-enabled product launches in coming months

Result Drivers
SOFTWARE SUBSCRIPTION GROWTH - Co said software revenue rose 17% yr/yr due to expanding adoption of its platform solutions
HARDWARE AND SERVICES DECLINE - Co said total revenue fell mainly due to lower hardware shipments and professional services installation activity versus an elevated prior-year quarter
COST CONTROL AND MARGIN IMPROVEMENT - Co attributed improved gross margin and reduced net loss to a more favorable revenue mix and lower operating expenses

Company press release: ID:nPn6jhQfTa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$15.62 mln
 
Q2 Net Loss
 
$6.90 mln
 
Q2 Adjusted EBITDA
 
-$3.56 mln
 
Q2 Software Revenue
 
$6.12 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.)