{"url_path":"/sec/ltch/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1826000/0001826000-26-000043-index.html","accession_number":"0001826000-26-000043","cik":"0001826000","ticker":"LTCH","issuer_name":"Latch, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1826000/0001826000-26-000043-index.html","primary_entity_key":"0001826000","primary_entity_name":"Latch, 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STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nFORM 10-Q\n\n(Mark One)\n\n☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\n☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor transition period from         to\n\nCommission File Number 001-39688\n\nLatch, Inc.\n\n(Exact name of registrant as specified in its charter)\n\nDelaware85-3087759\n\n(State or other jurisdiction of incorporation or organization)\n\n(I.R.S. Employer Identification Number)\n\n1220 N. Price Road, Suite 2\n\nOlivette, Missouri 63132\n\n(314) 227-1100\n\n(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)\n\nSecurities registered pursuant to Section 12(b) of the Act: None.\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\nLarge accelerated filer☐Accelerated filer☐\n\nNon-accelerated filer☒Smaller reporting company☒\n\nEmerging growth company☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): Yes ☐ No ☒\n\nAs of May 13, 2026, there were 164,257,801 shares of the registrant’s common stock outstanding.\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS\n\nThis Quarterly Report on Form 10-Q (this “Form 10-Q”) contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements other than statements of historical facts contained in this Form 10-Q, including statements concerning possible or assumed future actions, business strategies, events or results of operations, and any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.\n\nIn some cases, you can identify forward-looking statements by terms such as “may,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these terms or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. These forward-looking statements speak only as of the date of this Form 10-Q and are subject to a number of important factors that could cause actual results to differ materially from those in the forward-looking statements, including the risks, uncertainties and assumptions described under the section in our Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Annual Report”) filed with the Securities and Exchange Commission (the “SEC”), titled “Risk Factors,” as updated by Part II, Item 1A. “Risk Factors” in this Form 10-Q. These forward-looking statements are subject to numerous risks, including, without limitation, the following:\n\n•our ability to remediate the material weaknesses we identified in our internal control over financial reporting or other findings in the Company’s 2022-2023 internal investigation, and the timing of such remediation;\n\n•the performance of our common stock, particularly given the limited liquidity and depressed trading prices of our common stock, which is trading on OTC Markets Group Inc.’s (“OTC”) OTCID Basic Market (the “OTCID Market”), and may not be listed on the OTCQX or OTCQB markets or a national securities exchange;\n\n•developments in the pending derivative actions or other legal proceedings;\n\n•regulatory disputes and governmental inquiries, including the SEC Investigation (as defined below);\n\n•privacy and data protection laws, privacy or data breaches, or the loss of data;\n\n•the impact of changes in consumer spending patterns, consumer preferences, local, regional and national economic conditions, crime, weather, demographic trends and employee availability;\n\n•increases in component costs, long lead times, supply shortages and other disruptions to our supply chain;\n\n•delays in construction timelines at our customers’ building sites;\n\n•any defects in new products or enhancements to existing products;\n\n•our ability to continue to develop new products, services and innovations to meet constantly evolving customer demands;\n\n•our ability to hire, retain, manage and motivate employees, including key personnel;\n\n•the impact of workforce reductions on our business, financial condition and results of operations;\n\n•our ability to improve operating and financial results and attain profitability;\n\n•compliance with laws and regulations applicable to our business;\n\n•the impact of macroeconomic conditions on our business, our suppliers and our existing and potential customers;\n\n•our ability to upgrade and maintain our information technology systems;\n\n•our ability to create, acquire and protect intellectual property;\n\n•our ability to successfully identify, complete, integrate and realize synergies from acquisitions, including the ability to retain key personnel from such acquisitions; and\n\n•the potential adverse impact of any future acquisitions, including the potential increase in risks already existing in our operations, poor performance or decline in value of acquired businesses and unexpected costs or liabilities that may arise.\n\nBecause forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond our control, you should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. Moreover, we operate in an evolving environment. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties. As a result of these factors, we cannot assure you that the forward-\n\nlooking statements in this Form 10-Q will prove to be accurate. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.\n\nYou should read this Form 10-Q completely and with the understanding that our actual future results may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements.\n\nLatch, Inc. and Subsidiaries\n\nForm 10-Q\n\nTable of Contents\n\nPage\n\n[Part I - Financial Information](#i3d4183803fce4347811264a61fa7ca2b_13)\n\n[1](#i3d4183803fce4347811264a61fa7ca2b_19)\n\n[Item 1. Financial Statements](#i3d4183803fce4347811264a61fa7ca2b_16) (unaudited)\n\n[1](#i3d4183803fce4347811264a61fa7ca2b_19)\n\n[Condensed Consolidated Balance Sheets (unaudited) as of](#i3d4183803fce4347811264a61fa7ca2b_19)March 31, 2026 [and](#i3d4183803fce4347811264a61fa7ca2b_19)December 31, 2025\n\n[1](#i3d4183803fce4347811264a61fa7ca2b_19)\n\nCondensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) for the three months ended March 31, 2026[and](#i3d4183803fce4347811264a61fa7ca2b_22)2025\n\n[2](#i3d4183803fce4347811264a61fa7ca2b_22)\n\nCondensed Consolidated Statements of Stockholders’ Equity (unaudited) for the three months ended March 31, 2026[and](#i3d4183803fce4347811264a61fa7ca2b_25)2025\n\n[3](#i3d4183803fce4347811264a61fa7ca2b_25)\n\nCondensed Consolidated Statements of Cash Flows (unaudited) for the three months ended March 31, 2026[and](#i3d4183803fce4347811264a61fa7ca2b_28) 2025\n\n[4](#i3d4183803fce4347811264a61fa7ca2b_28)\n\n[Notes to Condensed Consolidated Financial Statements (unaudited)](#i3d4183803fce4347811264a61fa7ca2b_31)\n\n[5](#i3d4183803fce4347811264a61fa7ca2b_31)\n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#i3d4183803fce4347811264a61fa7ca2b_109)\n\n[24](#i3d4183803fce4347811264a61fa7ca2b_109)\n\n[Item 3. Quantitative and Qualitative Disclosures About Market Risk](#i3d4183803fce4347811264a61fa7ca2b_145)\n\n[33](#i3d4183803fce4347811264a61fa7ca2b_145)\n\n[Item 4. Controls and Procedures](#i3d4183803fce4347811264a61fa7ca2b_148)\n\n[33](#i3d4183803fce4347811264a61fa7ca2b_148)\n\n[Part II - Other Information](#i3d4183803fce4347811264a61fa7ca2b_151)\n\n[37](#i3d4183803fce4347811264a61fa7ca2b_151)\n\n[Item 1. Legal Proceedings](#i3d4183803fce4347811264a61fa7ca2b_154)\n\n[37](#i3d4183803fce4347811264a61fa7ca2b_154)\n\n[Item 1A. Risk Factors](#i3d4183803fce4347811264a61fa7ca2b_157)\n\n[37](#i3d4183803fce4347811264a61fa7ca2b_157)\n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#i3d4183803fce4347811264a61fa7ca2b_160)\n\n[37](#i3d4183803fce4347811264a61fa7ca2b_160)\n\n[Item 3. Defaults Upon Senior Securities](#i3d4183803fce4347811264a61fa7ca2b_163)\n\n[37](#i3d4183803fce4347811264a61fa7ca2b_163)\n\n[Item 4. Mine Safety Disclosures](#i3d4183803fce4347811264a61fa7ca2b_166)\n\n[37](#i3d4183803fce4347811264a61fa7ca2b_166)\n\n[Item 5. Other Information](#i3d4183803fce4347811264a61fa7ca2b_169)\n\n[37](#i3d4183803fce4347811264a61fa7ca2b_169)\n\n[Item 6. Exhibits](#i3d4183803fce4347811264a61fa7ca2b_172)\n\n[38](#i3d4183803fce4347811264a61fa7ca2b_172)\n\n[Signatures](#i3d4183803fce4347811264a61fa7ca2b_175)\n\n[39](#i3d4183803fce4347811264a61fa7ca2b_175)\n\nPart I. Financial Information"}