Revenue: As of FY2025, the actual value is USD 70.12 M.

EBIT: As of FY2025, the actual value is USD -52.63 M.

Financial and Operational Highlights for DOOR (Year Ended December 31, 2025)

Revenue

• Total revenue for 2025 was $70.1 million, marking a 24% year-over-year increase from $56.630 million in 2024.
• Software revenue reached $22.1 million in 2025, an increase of 9% year-over-year from $20.255 million in 2024.

Profitability and Expenses

• Operating expenses were $79.6 million in 2025, representing a 6% year-over-year reduction of $4.8 million.
• Excluding a $16.6 million goodwill impairment, operating expenses would have been $63.0 million, a 25% year-over-year improvement.
• Net loss for 2025 was - $53.7 million, showing a 7% year-over-year improvement of $3.8 million compared to a net loss of - $57.596 million in 2024.
  • The 2025 net loss was negatively impacted by a $16.6 million goodwill impairment and a $4.9 million inventory-related write-off.
• Adjusted EBITDA (non-GAAP) was - $27.1 million in 2025, a 25% year-over-year improvement of $8.9 million from - $35.966 million in 2024 (corrected from previously reported - $40.7 million).

Non-GAAP Financial Measures

Latch, Inc. utilizes “Adjusted EBITDA” as a non-GAAP financial measure, defined as net loss, excluding the impact of depreciation and amortization expense, net interest income or expense, provision for income taxes, change in fair value of warrant liability, trading securities or derivative instruments, restructuring costs, transaction-related costs, impairment of assets, non-ordinary course legal fees and settlement reserves, stock-based compensation expense, and gain or loss on extinguishment of debt.

Reconciliation to Adjusted EBITDA (in thousands)

• Net Loss: - $53,747 in 2025 vs. - $57,596 in 2024.
• Depreciation and amortization: $5,277 in 2025 vs. $7,202 in 2024.
• Interest expense (income), net: $1,113 in 2025 vs. - $1,416 in 2024.
• Provision for income taxes: — in 2025 vs. $2 in 2024.
• Change in fair value of warrant liability: - $18 in 2025 vs. - $159 in 2024.
• Restructuring costs: - $93 in 2025 vs. $1,581 in 2024.
• Impairment of goodwill: $16,600 in 2025 vs. — in 2024.
• Impairment of intangible assets, net: — in 2025 vs. $2,849 in 2024.
• Non-ordinary course legal fees and settlement reserves: $3,228 in 2025 vs. $12,151 in 2024 (corrected from previously reported $7.4 million).
• Stock-based compensation: $551 in 2025 vs. - $580 in 2024.

Outlook / Guidance

Neither the Form 8-K filing nor the accompanying press release for Latch, Inc. contains specific financial guidance or forecasts for future periods. The report broadly mentions forward-looking information related to the Company’s cash expenditures, cash flows, revenues, business plans, and branding, but does not provide specific projections.