)
Latch (LTCH) investor relations material
Latch Q2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Q2 2024 increased 27.1% year-over-year to $12.9 million, with software revenue up 13.8% and professional services up 55.3%.
Net loss narrowed by 45.1% to $16.9 million for the quarter, and by 52.1% to $30.6 million for the first half of 2024.
Adjusted EBITDA improved by 50.7% to negative $9.9 million for the quarter and by 61.2% to negative $17.3 million for the first half.
The company completed the HelloTech Merger in July 2024, expanding its service platform for multifamily buildings.
Financial highlights
Hardware revenue grew 31.0% year-over-year in Q2 2024, driven by increased shipments.
Software revenue rose 13.8% in Q2 2024, reflecting growth in subscriptions from delivered hardware units.
Professional services revenue increased 55.3% in Q2 2024, mainly from property management.
Cost of revenue increased 11.6% in Q2 2024, primarily due to higher professional services costs.
Operating expenses decreased 32.7% in Q2 2024, with significant reductions in R&D, sales and marketing, and G&A.
Outlook and guidance
Management expects current cash and investments to fund operational needs for at least 12 months from the report date.
No restructuring costs are anticipated for the remainder of 2025.
Next Latch earnings date
The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
I can't remember the last time an app had such a positive impact on my investment process.
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
Frequently asked questions
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Explore our global coverage
)
)