Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Latch, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
14.9
13
27.6
43
45
56.6
70.1
Cost of revenue
17.3
15.6
32.7
46.9
32.6
31.6
43.3
Gross profit
-2.41
-2.63
-5.04
-3.92
12.3
25
26.9
Research and development
18.3
25.8
46.2
54.9
33.8
17.3
18.3
Selling and marketing
13.1
13.4
34.4
45.6
15.4
12.6
15.3
General and administrative
15.1
19.9
60.8
55.3
66.2
44.5
24
Operating expenses
47.3
60.5
144
161
123
84.4
79.6
Operating income
-49.7
-63.2
-149
-165
-110
-59.4
-52.7
Interest expense
3.43
9.09
7.44
5.79
4.48
3
Interest income
0.25
1.33
4.48
8.1
5.89
1.89
Other non-operating income
-0.47
-4.27
-17.6
3
2.76
1.82
-1.03
Pre-tax income
-50.2
-67.4
-167
-162
-108
-57.6
-53.7
Income tax
0.05
0.01
0.05
0.09
0.03
0
0
Net income
-50.2
-67.4
-167
-162
-108
-57.6
-53.7
EBITDA
-49
-61.7
-146
-160
-103
-52.2
-47.4
EPS, basic
-8.10
-9.86
-2.04
-1.20
-0.72
-0.37
-0.34
EPS, diluted
-8.10
-9.86
-2.04
-1.20
-0.72
-0.37
-0.34
Shares, basic (weighted)
6.2
6.84
81.7
136
150
157
160
Shares, diluted (weighted)
6.2
6.84
81.7
136
150
157
160
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
54.2
60.5
125
110
94.7
70.2
34.6
Short-term investments
0
159
120
84.9
5.19
0
Receivables
8.23
11.9
7.03
6
9.86
7.96
Inventory
8.29
23.1
29.4
16.6
14.4
15.3
Other current assets
3.31
12.7
12.3
34.8
30.5
7.1
Total current assets
80.4
331
279
237
130
64.9
Property, plant and equipment
0.75
2.04
2.47
1.47
1.07
0.84
Lease right-of-use assets
0.42
2.8
2.78
2.32
Goodwill
0
25.3
30.2
13.6
Intangible assets
0.3
0.85
0.13
4.79
2.58
2.3
Long-term investments
0
103
4.84
0
Other non-current assets
1.08
2.26
3.02
6.1
5.58
4.67
Total assets
89.6
450
317
294
196
107
Accounts payable
3.73
6.52
6.01
3.64
7.82
4.45
Accrued liabilities
5.78
24.3
25.6
55
35.1
10.5
Deferred revenue
2.34
7.26
10.7
10.8
11.9
11.2
Short-term debt
22
1.31
1.31
Total current liabilities
11.9
42.6
44.3
94.3
57.2
28.2
Long-term debt
0
4.52
3.33
Lease liabilities
0.2
Other non-current liabilities
1.05
0
0.18
2.22
2.25
2.08
Total liabilities
83.3
75.6
75.9
125
85.2
48.8
Total debt
5.48
22
5.83
4.64
Paid-in capital
7.9
706
736
770
770
770
Retained earnings
-162
-331
-494
-601
-659
-712
Treasury stock
0
-0
-0
Other comprehensive income
0.01
-0.68
-1.46
0.05
0.02
0.04
Shareholders' equity
-90.9
-156
374
241
169
111
58
Total equity
-90.9
-156
374
241
169
111
58
Total liabilities and equity
89.6
450
317
294
196
107
Shares outstanding
7.71
134
137
175
164
164
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-50.2
-67.4
-167
-162
-108
-57.6
-53.7
Depreciation and amortization
0.72
1.42
3.09
5.5
7.2
7.2
5.28
Stock-based compensation
3.53
1.54
29.1
30.3
18.2
-0.58
0.55
Deferred income tax
0
0
0
0
0
0
0
Change in receivables
-6.45
-0.41
-11.4
3.57
1.95
-2.35
1.55
Change in inventory
-3.38
-2.78
-10.5
-20
16.3
-3.76
3.12
Change in payables
2.87
-0.1
2.77
-0.51
-2.36
3.65
-3.37
Cash from operations
-47.6
-54.3
-107
-135
-65.6
-75.4
-35.9
Capital expenditures
-0.91
-0.27
-1.54
-2.24
-0.33
-0.77
-0.08
Acquisitions
0
0
8.09
-0.95
0
Purchases of investments
0
0
-269
-80.2
-127
-20.3
-6.66
Sales and maturities of investments
2.8
214
171
101
12
Cash from investing
-3.77
-4.85
-277
126
50.5
72.9
1.69
Stock issued
0.3
0.23
3.27
0.72
0
Cash from financing
66.1
65.4
448
-6.04
0
-22
-1.22
Exchange rate effect
0
0.01
-0.01
-0.03
-0.05
Net change in cash
14.7
6.31
64.3
-15
-15.2
-24.5
-35.6
Free cash flow
-48.5
-54.5
-108
-137
-65.9
-76.2
-36
Interest paid
0
0.12
0.35
0.04
0.03
2.1
0.47
Income taxes paid
0.06
0.01
0.07
0.07
0.01
0
-0.01
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $0.15 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
40.6%
Gross profit / revenue.
Operating margin
-70.4%
Operating income / revenue.
EBITDA margin
-63.7%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-71.3%
Pre-tax income / revenue.
Net margin
-71.3%
Net income / revenue.
Operating cash flow margin
-31.6%
Cash from operations / revenue.
Return on equity (ROE)
-103.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-50.8%
Net income / average total assets.
Return on invested capital (ROIC)
-119.2%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
24.2%
Research and development expense / revenue.
Stock-based pay / revenue
1.5%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
6.7%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
23.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
17.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
40.1%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
7.4%
Gross profit vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-47.8%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-37.8%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-45.6%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-30.4%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
3.6%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
2.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
5.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
88.0%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.68x
Current assets / current liabilities.
Quick ratio
1.01x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.73x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.10x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
4.7%
Total debt / total assets.
Liabilities / assets
51.0%
Total liabilities / total assets.
Net debt
-$16.5M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.29
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$0.41
Revenue / diluted weighted shares.
Operating cash flow per share
-$0.13
Cash from operations / diluted weighted shares.
Book value per share
$0.28
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.37x
Market cap / revenue.
P/B
0.54x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.82x
Market cap / tangible book value, when positive.
EV/Sales
0.13x
Enterprise value / revenue.
Earnings yield
-191.1%
Net income / market cap (the inverse of P/E).
What was Latch, Inc.'s revenue in fiscal 2025?
Latch, Inc. reported revenue of $70.1M for fiscal 2025, 23.8% higher than the year before.
Was Latch, Inc. profitable in fiscal 2025?
No. It reported a net loss of $53.7M.
How much free cash flow did Latch, Inc. generate in fiscal 2025?
Cash from operations of $35.9M minus capital expenditures of $79.0K left free cash flow of -$36.0M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.