Latch reported a narrower adjusted EBITDA loss and 19.1% software revenue growth despite a slight year-over-year revenue decline.
Latch Inc. reported a first-quarter GAAP loss of $0.04 per share on revenue of $15.7 million, down 0.6% from the same period last year. The company’s adjusted EBITDA loss improved by 45.7% year-over-year to $3.9 million.
Software revenue rose 19.1% to $6.1 million, driven by subscription growth on its DOOR platform. The prior-year quarter saw a wider adjusted EBITDA loss and lower software revenue, though overall revenue was slightly higher.
The results reflect ongoing efforts to narrow losses while expanding its software segment.