Latch, Inc. (LTCH) Financial Statements (2025 and earlier)

Company Profile

Business Address 1220 N PRICE ROAD
OLIVETTE, MO 63132
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 5072 - Hardware (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments250,227258,643263,952283,755328,441471,999
Cash and cash equivalents112,32080,59890,959124,782240,306471,999
Short-term investments137,907178,045172,993158,97388,135 
Receivables7,60812,58928,96725,64218,64812,143
Inventory, net of allowances, customer advances and progress billings33,09528,69218,99611,6159,9768,966
Inventory33,09528,69218,99611,6159,9768,966
Other undisclosed current assets11,84811,54712,04711,60610,1363,077
Total current assets:302,778311,471323,962332,618367,201496,185
Noncurrent Assets
Inventory, Noncurrent10,5048,425    
Operating lease, right-of-use asset  430   
Property, plant and equipment7,6652,9472,7552,0391,6531,157
Long-term investments and receivables2,74132,43171,058102,878104,138 
Long-term investments2,74132,43171,058102,878104,138 
Intangible assets, net (including goodwill)153688767846  
Intangible assets, net (excluding goodwill)153688767846  
Other noncurrent assets2,7562,9332,9292,2941,4521,134
Other undisclosed noncurrent assets14,12013,66013,21411,62913,03710,145
Total noncurrent assets:37,93961,08491,153119,686120,28012,436
TOTAL ASSETS:340,717372,555415,115452,304487,481508,621
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities33,39437,46930,44430,41318,00715,468
Accounts payable6,2538,0965,7576,2295,9454,397
Accrued liabilities27,14129,37324,68724,18412,06211,071
Deferred revenue10,4439,9197,2116,0164,5413,686
Other liabilities1,9061,3732,9354,3422,7241,101
Total current liabilities:45,74348,76140,59040,77125,27220,255
Noncurrent Liabilities
Liabilities, other than long-term debt31,44130,94428,66224,19019,37717,439
Deferred revenue31,21330,80328,48424,19018,81816,880
Other liabilities228141178 559559
Other undisclosed noncurrent liabilities4328213,5209,78717,60018,667
Total noncurrent liabilities:31,87331,76532,18233,97736,97736,106
Total liabilities:77,61680,52672,77274,74862,24956,361
Equity
Equity, attributable to parent263,101292,029342,343377,556425,232452,260
Common stock161632252115
Additional paid in capital729,897724,285718,305706,713699,866692,600
Accumulated other comprehensive income (loss)(2,305)(2,574)(2,292)(676)(57)4
Accumulated deficit(464,507)(429,698)(373,702)(328,506)(274,598)(240,359)
Total equity:263,101292,029342,343377,556425,232452,260
TOTAL LIABILITIES AND EQUITY:340,717372,555415,115452,304487,481508,621

Income Statement (P&L) ($ in thousands)

12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
Revenues8,8399,83013,65514,52211,1979,012
Gain (loss) on disposition of assets for financial service operations (1,960)(2,500)1,000   
Cost of revenue(6,805)(13,080)(13,033)(18,481)(11,153)(8,242)
Cost of goods and services sold  (665)(514)  
Gross profit:2,034(3,250)622(3,959)44770
Operating expenses(34,482)(47,256)(51,237)(57,059)(34,391)(22,726)
Operating loss:(32,448)(50,506)(50,615)(61,018)(34,347)(21,956)
Nonoperating income (expense)(2,351)(1,093)6,4017,063198(18,105)
Other nonoperating income (expense) (78)(29)(2)6(89)23
Interest and debt expense      (1,469)
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Loss from continuing operations before equity method investments, income taxes:(34,799)(51,599)(44,214)(53,955)(34,149)(41,530)
Other undisclosed income from continuing operations before income taxes     1,469
Loss from continuing operations before income taxes:(34,799)(51,599)(44,214)(53,955)(34,149)(40,061)
Income tax expense (benefit)(10)(17)(17)47(90)(10)
Loss from continuing operations:(34,809)(51,616)(44,231)(53,908)(34,239)(40,071)
Loss before gain (loss) on sale of properties:(44,231)(53,908)(34,239)(40,071)
Net loss available to common stockholders, diluted:(34,809)(51,616)(44,231)(53,908)(34,239)(40,071)

Comprehensive Income ($ in thousands)

12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
Net loss:(34,809)(51,616)(44,231)(53,908)(34,239)(40,071)
Comprehensive loss:(34,809)(51,616)(44,231)(53,908)(34,239)(40,071)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent269(282)(1,616)(619)(61)2
Comprehensive loss, net of tax, attributable to parent:(34,540)(51,898)(45,847)(54,527)(34,300)(40,069)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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