Latch, Inc. (DOOR) Reports Third Quarter 2026 Financial Results
PR Newswire•12/11/2026•07:49 ET
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Key Highlights
- ➤Software revenue $6.3 million, up 18.1% year-over-year
- ➤Total revenue $14.1 million, down 18.9% year-over-year
- ➤Gross margin expanded to 55.2% from 44.3%
- ➤Restructuring targets $10 million-$12 million in annualized operating savings
- ➤SEC settlement includes $1.0 million civil monetary penalty
Expert Statements
David Lillis, Chief Executive Officer of DOOR
“The third quarter results reflect our continued focus on driving profitability, highlighted by our improvement in gross margin,”
David Lillis, Chief Executive Officer of DOOR
“Our priorities are clear: strengthen our best-in-class integrated hardware and software platform, streamline operations, and build a more profitable and sustainable company.”
David Lillis, Chief Executive Officer of DOOR
“We are concentrating our resources on the products and services that deliver the greatest value to our customers while maintaining complementary services that support our broader business objectives.”
David Lillis, Chief Executive Officer of DOOR
“We are leaning into what we do best and exiting non-core operations to focus our resources on higher-margin offerings.”
David Lillis, Chief Executive Officer of DOOR
“The restructuring plan we announced in August, which is expected to reduce annualized operating costs by $10 million to $12 million, is progressing as planned and should accelerate our path to profitability.”
David Lillis, Chief Executive Officer of DOOR
“We are already seeing the benefits of those actions, which should meaningfully support our goal of generating positive cash flow by the second half of 2027.”
David Lillis, Chief Executive Officer of DOOR
“DOOR pioneered Building Intelligence, and growing industry adoption of this approach validates the strategy we set in motion.”
David Lillis, Chief Executive Officer of DOOR
“Following the launch of DOOR Scout, we publicly introduced our developer platform OpenDOOR and our first public partner EliseAI this quarter, and we expect additional releases through year-end.”
David Lillis, Chief Executive Officer of DOOR
“We are focused on executing our Building Intelligence strategy, expanding customer adoption, and creating long-term value for our stockholders.”
Latch, Inc. (DOOR) Reports Third Quarter 2026 Financial Results PR Newswire
DOOR Launches OpenDOOR Platform and Advances Automation Capabilities as Software Revenue Grows 18% and Gross Margin Expands to 55%
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