Latch, Inc., now known as DOOR, filed its Quarterly Report on Form 10-Q for the three months ended March 31, 2025, with the SEC, marking progress towards regaining current reporting status.
DOOR reported significant financial and business highlights for Q1 2025, including a 31% year-over-year increase in total revenue and a 9% reduction in operating expenses.
The company also provided insights into its cash position as of December 31, 2025, showing a decrease in liquid assets from the previous year.
Strong Revenue Growth
Total revenue increased by 31% year-over-year, reaching $15.8 million in Q1 2025.
Operating Efficiency
DOOR achieved a remarkable 9% reduction in operating expenses compared to the previous year's results.
Cash Position Update
As of December 31, 2025, DOOR's estimated liquid assets were approximately $34.7 million, reflecting a decrease from the previous year due to various outflows.
- DOOR's Q1 2025 performance showcased improved efficiency and discipline, highlighting growth potential for the company.
- The decrease in liquid assets from December 31, 2024, to December 31, 2025, was mainly attributed to legal fees, professional service fees, and one-time outflows related to the company's transition activities.
DOOR's filing of the Q1 2025 report underscores its commitment to transparency and regulatory compliance. The financial and operational improvements demonstrate a positive trajectory for the company.