Latch, Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $70.1M | $56.6M | $45.0M | $43.0M | $27.6M | $13.0M | $14.9M |
| Cost of Revenue | — | $43.3M | $31.6M | $32.6M | $46.9M | $32.7M | $15.6M | $17.3M |
| Gross Profit | — | $26.9M | $25.0M | $12.3M | $-3.9M | $-5.0M | $-2.6M | $-2.4M |
| Gross Margin | — | 38.3% | 44.1% | 27.4% | -9.1% | -18.3% | -20.2% | -16.2% |
| Operating Expenses | ||||||||
| Research & Development | — | $18.3M | $17.3M | $33.8M | $54.9M | $46.2M | $25.8M | $18.3M |
| SG&A Expense | — | $24.0M | $44.5M | $66.2M | $55.3M | $60.8M | $19.9M | $15.1M |
| Operating Income | — | $-52.7M | $-59.4M | $-110.3M | $-165.2M | $-149.5M | $-63.2M | $-49.7M |
| Operating Margin | — | -75.2% | -104.9% | -245.3% | -384.7% | -541.4% | -486.0% | -333.9% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | — | $-53.7M | $-57.6M | $-107.5M | $-162.2M | $-167.1M | $-67.4M | $-50.2M |
| Income Tax Expense | — | $0 | $2.0K | $30.0K | $89.0K | $53.0K | $8.0K | $50.0K |
| Net Income | — | $-53.7M | $-57.6M | $-107.5M | $-162.3M | $-167.1M | $-67.4M | $-50.2M |
| Net Margin | — | -76.7% | -101.7% | -239.2% | -377.9% | -605.3% | -518.8% | -337.4% |
| EPS (Basic) | — | $-0.34 | $-0.37 | $-0.72 | $-1.13 | $-1.93 | $-0.78 | $-0.64 |
| EPS (Diluted) | — | $-0.34 | $-0.37 | $-0.72 | $-1.13 | $-1.93 | $-0.78 | $-0.64 |
| Shares Outstanding (Basic) | 164.3M | 160.4M | 156.7M | 149.6M | 143.6M | 86.5M | 86.9M | 78.8M |
| Shares Outstanding (Diluted) | 164.3M | 160.4M | 156.7M | 149.6M | 143.6M | 86.5M | 86.9M | 78.8M |
| Dividends Per Share | — | — | — | — | — | — | — | — |