Latch, Inc. (LTCH) Income Statement
LTCH 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsLTCH revenue and net income
Where LTCH's revenue goes
2025Each bar shows an amount and its share of revenue. LTCH kept −76.7% of revenue as net income.
LTCH profit margins
LTCH growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +56.0% | +57.2% | — | — |
| Gross profit | +304.7% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
LTCH quarterly EPS vs estimates
Latch beat the analyst EPS estimate in 3 of the last 6 quarters.
LTCH income statement
| 2025 | 2024 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Revenue | $70.1M | $45.0M | $41.4M | $18.1M | $14.9M |
| Cost of revenue | $48.5M | $39.6M | $44.0M | $20.2M | $17.3M |
| Gross profit | $21.6M | $5.3M | −$2.7M | −$2.2M | −$2.4M |
| Research & development | $18.3M | $30.8M | $45.8M | $25.3M | $18.3M |
| Sales, general & admin | $24.0M | $71.2M | $96.8M | $32.9M | $28.2M |
| Total operating expenses | $54.6M | $109.1M | $145.9M | $59.6M | $47.3M |
| Operating income | −$33.0M | −$103.8M | −$148.6M | −$58.1M | −$49.7M |
| Interest income | — | — | — | $2,260 | — |
| Interest expense | $3.0M | $5.8M | $7.8M | $3.2M | $1.4M |
| Income before taxes | −$53.7M | −$107.5M | −$166.3M | −$66.0M | −$50.2M |
| Income taxes | $2,000 | $30,000 | $53,000 | $8,000 | $50,000 |
| Net income | −$53.7M | −$107.5M | −$166.3M | −$66.0M | −$50.2M |
| EBITDA | −$27.7M | −$94.5M | −$145.3M | −$61.4M | −$49.0M |
| EPS (diluted) | −$0.16 | −$0.40 | −$1.47 | −$0.02 | −$7.18 |
| Gross margin | 30.8% | 11.9% | −6.5% | −12.1% | −16.2% |
| Operating margin | −47.0% | −230.8% | −359.2% | −321.8% | −333.9% |
| Net margin | −76.7% | −239.2% | −402.1% | −365.4% | −337.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Dec '24 | Mar '22 | Dec '21 | Sep '21 | Jun '21 | Mar '21 | Dec '20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $15.6M | $15.7M | $17.9M | $22.8M | $19.1M | $14.0M | $13.7M | $14.5M | $11.2M | $9.0M | $6.6M | $7.5M |
| Cost of revenue | $9.0M | $8.5M | $18.4M | $7.3M | $10.9M | $11.0M | $13.0M | $18.5M | $11.2M | $8.2M | $6.2M | $7.8M |
| Gross profit | $6.6M | $7.2M | −$549,000 | $15.6M | $8.2M | $3.0M | $622,000 | −$4.0M | $44,000 | $770,000 | $467,000 | −$360,000 |
| Research & development | $4.1M | $3.8M | $4.5M | $7.4M | $4.5M | $5.8M | $18.3M | $17.4M | $11.8M | $7.0M | $9.6M | $5.8M |
| Sales, general & admin | $6.0M | $4.7M | $5.2M | $35.1M | $10.0M | $12.0M | $31.5M | $38.5M | $21.8M | $15.0M | $21.4M | $9.3M |
| Total operating expenses | $12.7M | $12.3M | $10.5M | $3.2M | $26.6M | $20.0M | $51.2M | $57.1M | $34.4M | $22.7M | $31.7M | $15.5M |
| Operating income | −$6.1M | −$5.1M | −$10.9M | $12.3M | −$7.6M | −$17.0M | −$50.6M | −$61.0M | −$34.3M | −$22.0M | −$31.2M | −$15.9M |
| Interest income | — | — | — | — | — | — | — | — | — | — | $3,010 | $2,260 |
| Interest expense | $496,000 | $568,000 | $673,000 | $898,000 | — | — | $864,000 | $806,000 | $780,000 | $2.9M | $3.3M | $2.4M |
| Income before taxes | −$6.9M | −$5.9M | −$28.1M | $17.0M | −$7.8M | −$16.4M | −$44.2M | −$54.0M | −$34.1M | −$40.1M | −$38.1M | −$19.2M |
| Income taxes | — | — | — | −$17,000 | — | $19,000 | $17,000 | −$47,000 | $90,000 | $10,000 | $6.9M | $5,000 |
| Net income | −$6.9M | −$5.9M | −$28.1M | $17.0M | −$7.8M | −$16.5M | −$44.2M | −$53.9M | −$34.2M | −$40.1M | −$45.0M | −$19.2M |
| EBITDA | −$5.1M | −$4.1M | −$9.7M | $18.8M | −$6.3M | −$14.6M | −$41.8M | −$52.1M | −$33.5M | −$21.3M | −$34.1M | −$15.4M |
| EPS (diluted) | −$0.04 | −$0.04 | $0.00 | −$0.04 | −$0.05 | −$0.10 | −$0.36 | −$0.26 | −$0.25 | — | — | — |
| Gross margin | 42.5% | 45.9% | −3.1% | 68.2% | 43.0% | 21.5% | 4.6% | −27.3% | 0.4% | 8.5% | 7.0% | −4.8% |
| Operating margin | −38.9% | −32.3% | −60.8% | 54.1% | −39.8% | −122.0% | −370.7% | −420.2% | −306.8% | −243.6% | −471.4% | −212.3% |
| Net margin | −44.2% | −37.8% | −157.1% | 74.6% | −41.2% | −117.9% | −323.9% | −371.2% | −305.8% | −444.6% | −678.2% | −256.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in LTCH's financial statements (latest annual report filed March 31, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
LTCH financial results
In fiscal year 2025 (ended December 31, 2025), Latch reported revenue of $70.1 million, up 56.0% from the year before. It had a net loss of $53.7 million, a net profit margin of −76.7%. Diluted earnings per share came to −$0.16.
See the LTCH stock overview for the latest quote and news, or the LTCH chart for price history and technical indicators.
LTCH income statement FAQ
What is Latch's annual revenue?
Latch reported total revenue of $70.1 million for fiscal year 2025, which ended on December 31, 2025. That was up 56.0% from $45.0 million the previous year.
Is Latch profitable?
No. Latch reported a net loss of $53.7 million in fiscal 2025, a net profit margin of −76.7%; its operating margin was −47.0%.
What is Latch's gross margin?
Latch's gross margin was 30.8% in fiscal 2025: for every $100 of revenue, Latch kept $31 after the direct cost of its products and services.
How much does Latch spend on research and development?
Latch spent $18.3 million on research and development in fiscal 2025, 26.2% of revenue.
What are Latch's earnings per share?
Latch earned $-0.16 per diluted share in fiscal 2025, compared with $-0.40 a year earlier.
When does Latch's fiscal year end?
Latch's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 31, 2026.