Quarterly ResultMay 15, 2026, 04:09 PM
Latch Q1 Net Loss Narrows to $5.94M; Revenue $15.70M
AI Summary
Latch, Inc. reported a net loss of $5.94 million for the first quarter of 2026, a significant improvement compared to the $11.25 million net loss in the same period last year. Total revenue for the quarter was $15.70 million, a slight decrease from $15.77 million in Q1 2025. Basic and diluted net loss per common share improved to $(0.04) from $(0.07). The company also noted the termination of its Loan Agreement on May 11, 2026, and the receipt of $1.7 million cash from a private company acquisition on May 1, 2026.
Key Highlights
- Net loss narrowed to $5.94 million in Q1 2026 from $11.25 million in Q1 2025.
- Total revenue was $15.70 million in Q1 2026, a slight decrease from $15.77 million in Q1 2025.
- Basic and diluted net loss per share improved to $(0.04) in Q1 2026 from $(0.07) in Q1 2025.
- Net cash used in operating activities decreased to $5.14 million in Q1 2026 from $10.14 million in Q1 2025.
- Cash and cash equivalents stood at $27.95 million as of March 31, 2026.
- The Loan Agreement with Customers Bank was terminated on May 11, 2026.
- Received $1.7 million cash from a private company acquisition on May 1, 2026.
Price Impact
More from LTCH