LATCH(LTCH) - 2025 Q4 - Annual Results

Financial Performance - Total revenue for Q1 2025 was $15.8 million, representing a 31% year-over-year increase[5] - Software revenue reached $5.2 million, a 2% year-over-year increase[5] - Operating expenses decreased by $1.8 million, a 9% year-over-year improvement[5] - Net loss for Q1 2025 was $(11.3) million, an 18% year-over-year improvement[5] - Adjusted EBITDA for Q1 2025 was $(7.4) million, a 22% year-over-year decrease[5] Liquid Assets and Cash Flow - As of December 31, 2025, total liquid assets were approximately $34.7 million, a decrease of $40.7 million from December 31, 2024[7] - The decrease in liquid assets was partly due to $18.9 million in outflows related to legal fees and settlements[7] - The company anticipates that total cash outflows from operating and non-recurring activities will be significantly lower in 2026 compared to 2025[7] Strategic Focus and Risks - The company is focused on completing its SEC filings and advancing the DOOR platform to enhance long-term value for stakeholders[4] - The company continues to operate under the legal name Latch, Inc., with shares trading under the symbol "LTCH" until a corporate name update is made[15] - The Company emphasizes the importance of implementing its business plans to achieve revenue forecasts[27] - There are potential risks including unexpected delays and expenditures that could impact future performance[27] - The Company does not guarantee that it will meet its expectations as outlined in forward-looking statements[27]