Latch, Inc. — Third Quarter 2026 Earnings Summary

Latch, Inc., operating as DOOR, reported third-quarter 2026 total revenue of $14.1 million, an 18.9% decrease year-over-year driven by lower hardware shipments and professional services activity. Software revenue grew 18.1% to $6.3 million, contributing to an expanded gross margin of 55.2% despite a net loss of $20.5 million that included a $13.6 million non-cash goodwill impairment charge. The company launched its OpenDOOR developer platform and executed a restructuring plan expected to reduce annualized operating costs by $10 million to $12 million. Additionally, DOOR settled a Securities and Exchange Commission investigation with a $1.0 million civil penalty and aims to achieve positive cash flow by the second half of 2027.