Latch Reports Q3 Revenue Decline to $14.1 Million Amid Lower Hardware Shipments
Latch (LTCH) reported third-quarter financial results characterized by a decline in total revenue, which fell 19.1% year-over-year to $14.1 million. The company posted a GAAP earnings per share (EPS) loss of $0.13 for the period. The revenue contraction was primarily driven by a reduction in hardware shipments and professional services installation activity. However, Latch saw positive momentum in its software segment, where revenue grew 18.1% year-over-year to $6.3 million, fueled by increased subscription growth on its DOOR platform.
Tickers: $LTCH
Topics: earnings report hardware shipments revenue decline software growth