Latch, Inc.

Latch, Inc. announced the adoption of updated restricted stock unit (RSU) and stock option grant agreements, along with a new common stock grant agreement, under its 2021 Incentive Award Plan. These new forms include modifications related to settlement timing, tax withholding, and administrative procedures. Concurrently, the Compensation Committee approved grants of time-based RSUs to Principal Executive Officer Dave Lillis (968,179 RSUs), Principal Financial Officer Jeff Mayfield (130,000 RSUs), and Chief Product and Technology Officer Ryan Salmons (500,000 RSUs). A unique vesting structure was implemented, with vesting commencement dates preceding the grant date to recognize prior service, resulting in a portion of the RSUs vesting immediately.

DOOR (formerly Latch, Inc.) reported its first quarter 2026 financial results, showing significant improvements in profitability and cash management. Software revenue grew 19.1% to $6.1 million, while total revenue remained flat at $15.7 million. The company narrowed its net loss by 47.2% to $(5.9) million and reduced cash usage by $18.6 million year-over-year. Additionally, DOOR refinanced its debt with a new $5.0 million revolving credit facility, which is expected to save $0.9 million in debt service for 2026.

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.

Latch, Inc. (LTCH) announced its 2026 Annual Meeting of Stockholders will be held virtually on June 10, 2026. Stockholders of record as of April 15, 2026, are eligible to vote on the election of six directors, the ratification of BDO USA, P.C. as the independent auditor, and an advisory vote on executive compensation. The Board recommends voting for all proposals.