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

Core Insights - The company, Latch, Inc., has rebranded as DOOR and reported a total revenue increase of 24% year-over-year for 2025, reaching $70.1 million [1][4][5]. Financial Performance - The net loss for the year ended December 31, 2025, was $(53.7) million, which reflects a $3.8 million (7%) year-over-year improvement [3][5]. - Operating expenses decreased by $4.8 million (6%) year-over-year to $79.6 million [5]. - Software revenue increased by $1.9 million (9%) year-over-year, totaling $22.1 million [5]. Business Highlights - The company experienced a significant negative impact from non-cash items, including a $16.6 million impairment of goodwill and a $4.9 million inventory-related write-off [3][5]. - Adjusted EBITDA improved by $8.9 million (25%) year-over-year, reaching $(27.1) million [5][6]. Strategic Overview - The company is focused on redefining building operations through a combination of hardware, software, and automated services [6]. - The new brand and platform experience are now live at DOOR.com, indicating a strategic shift towards enhancing customer engagement [7].