Door (LTCH) Q4 2024 earnings summary

Executive summary

• Achieved a key milestone by filing 2024 Annual and Quarterly SEC reports, progressing toward current reporting status.

• Rebranded from Latch to DOOR, with a new brand and platform experience now live.

Financial highlights

• 2024 software revenue reached $20.3 million, up 14% year-over-year.

• Total 2024 revenue was $56.6 million, a 26% increase year-over-year.

• Net loss for 2024 was $(57.6) million, a 46% improvement year-over-year.

• Adjusted EBITDA for 2024 was $(40.7) million, a 41% year-over-year improvement.

Outlook and guidance

• Preliminary, unaudited revenues for the first nine months of 2025 increased by at least 20% compared to the same period in 2024.

• Anticipates lower cash outflows from operating and non-recurring activities in 2025 compared to 2024.