LATCH(US:LTCH)2025-03-27 11:31Financial Performance - Software revenue increased to $17.8 million, a 37% year-over-year increase[4] - Total revenue reached $45.0 million, reflecting a 5% year-over-year increase, while operating expenses were reduced by $38.7 million, a 24% improvement[4] - Net loss improved to $(107.5) million, a 34% year-over-year improvement[4] - Adjusted EBITDA (non-GAAP) was $(68.5) million, a 42% year-over-year improvement[4] Cash Position and Expectations - The company had approximately $75 million in cash and cash equivalents as of December 31, 2024, with a decrease of approximately $104 million during the year[6] - The company expects cash outflows related to operating activities to be significantly lower in 2025 compared to 2024[7] - The company aims to generate positive cash flow through operations by 2026, excluding non-ordinary activities[7] SEC Filings and Compliance - The company is focused on becoming current with its SEC filing obligations and maintaining operational excellence[3] - The company completed its 2023 SEC filings less than four months after the restatement of its 2022 financials[2] - The company is working on completing its outstanding SEC filings for the year ended December 31, 2024[2]