The revenue growth and cost reductions are positive, but the large goodwill impairment raises concerns about prior acquisitions and future profitability; monitor upcoming quarters for sustained margin improvement and cash flow trends.
Price Chart
Executive Summary
Latch, Inc. (rebranding as DOOR) filed its 2025 Annual Report, reporting $70.1 million in total revenue (24% YoY growth) and a net loss of $53.7 million, improved from $57.6 million the prior year. The loss was significantly impacted by $21.5 million in non-cash impairments, including a $16.6 million goodwill write-down.
Key Financial Metrics
Key Facts
- Total revenue increased 24% YoY to $70.1 million for 2025
- Net loss narrowed to $53.7 million from $57.6 million in 2024, a 7% improvement
- Company reported $21.5 million in non-cash impairments ($16.6M goodwill, $4.9M inventory)
- Operating expenses decreased 6% YoY to $79.6 million
- Adjusted EBITDA improved 25% YoY to $(27.1) million
Financial Impact
Revenue grew $13.5 million, but net loss remains substantial at $53.7 million, heavily influenced by large non-cash charges
Risk Factors
- Significant goodwill impairment suggests potential overpayment for past acquisitions or declining business value
- Ongoing SEC investigation and shareholder lawsuits create legal and reputational risk
- Company remains on OTC Markets with uncertain timeline for exchange listing
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001826000-26-000032 |
| Document: lat-20260331.htm | 0001826000-26-000032 |
| Document: 0001826000-26-000032-index-headers.html | 0001826000-26-000032 |
| Document: 0001826000-26-000032-index.html | 0001826000-26-000032 |
| Document: 0001826000-26-000032.txt | 0001826000-26-000032 |
| 8-K Data (Synthetic) | 0001826000-26-000032 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 15, 2026 23w ago | 8-K | — | awaiting T+20 | — | — |
Mar 31, 2026 29w ago | 8-K | — | awaiting T+20 | — | — |
US Market Status
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