Latch (Now DOOR) Files Q3 2025 SEC Report and Provides Q3 2025 Financial Update

Core Viewpoint - DOOR, formerly known as Latch, Inc., has filed its Q3 2025 SEC report, marking the completion of its transition to current reporting obligations after a lengthy process that began with a restatement of historical financial statements in August 2022 [1]. Financial Highlights - Adjusted EBITDA for Q3 2025 was $(4.6) million, reflecting a $7.4 million (62%) year-over-year improvement [1]. - The net loss for Q3 2025 was $(6.6) million, a $10.5 million (61%) year-over-year improvement [1]. - Operating expenses decreased to $14.0 million, down $9.4 million (40%) year-over-year [1]. - Total revenue reached $17.4 million, an increase of $2.5 million (17%) year-over-year [1]. - Software revenue was $5.4 million, a $0.3 million (6%) year-over-year increase [1]. Business Operations - The company is focused on completing its Annual Report on Form 10-K for the year ended December 31, 2025 [1]. - Following the filing of the Quarterly Report, DOOR anticipates moving its shares to the OTC Pink Limited Market and is applying to the OTCID Market [1]. - The company plans to evaluate options for trading or listing its securities on the OTCQB or OTCQX Market or a national securities exchange [1]. Key Business Metrics - For the three months ended September 30, 2025, software revenue was $5,370,000, compared to $5,077,000 in 2024, marking a 6% increase [2]. - Total revenue for the nine months ended September 30, 2025, was $52,255,000, a 31% increase from $39,916,000 in 2024 [2]. - The net loss for the nine months ended September 30, 2025, was $(25,681,000), a 46% improvement from $(47,630,000) in 2024 [2].