#United States #St. Louis #SEC Filing #Latch #DOOR

DOOR's Progress Towards SEC Filing Obligations

DOOR, previously known as Latch, Inc., has made significant strides in ensuring compliance with SEC reporting requirements. In a recent announcement made on November 5, 2025, the company disclosed that it has filed its Annual Report for the fiscal year ending December 31, 2024. This report, which is categorized as Form 10-K, is a pivotal step for DOOR as it seeks to regain its standing in the regulatory landscape. Alongside this, quarterly reports for the first three quarters of 2024 were also submitted to the U.S. Securities and Exchange Commission (SEC).

The filings recorded under the company’s previous name mark a transitional phase for DOOR, which is working towards full integration of its new brand identity. The company still trades under the ticker symbol "LTCH" on the OTC Markets, with an update on its corporate name and stock symbol anticipated in the future.

The culmination of these filings underscores DOOR's commitment to transparency and regulatory compliance as it navigates the complexities of updating its reporting practices. David Lillis, CEO of DOOR, expressed pride in the team's capability to demonstrate strong growth while maintaining operational discipline, a dual focus that has become essential during this transformative period.

Financial Highlights from 2024

In its recent reports, DOOR reported impressive financial metrics for 2024:

• - Software Revenue: Achieved $20.3 million, reflecting a 14% increase year-over-year.
• - Total Revenue: Recorded at $56.6 million, which signifies a remarkable 26% growth compared to 2023.
• - Net Loss: The figure stands at $(57.6) million, a 46% improvement from $(107.5) million the previous year.
• - Adjusted EBITDA: Reported at $(40.7) million, improving by $27.7 million (41%) year-over-year.

These results highlight not only the financial health of the company but also underscore significant strides made in enhancing operational efficiencies. In a market characterized by rapidly evolving demands, such growth signals a robust response to shifting trends.

Preliminary Insights for 2025

Looking ahead, DOOR provided preliminary insights for its performance in 2025. The company estimates a revenue increase of at least 20% for the nine months ending September 30, 2025, compared to the same period in 2024. This positive trajectory is a testament to the resilience and adaptability of DOOR's business model amid changing market conditions.

Moreover, as of September 30, 2025, DOOR estimates its liquid assets—comprising cash and cash equivalents—as approximately $44.1 million. This figure signals a decrement of about $31.3 million when comparing it with the previous year's ending balance. A significant portion of this depreciation is attributed to legal fees and restructuring activities as DOOR deals with the financial implications of ongoing stockholder litigation and pending SEC inquiries.

Operational Dynamics Moving Forward

Lillis expressed optimism about the future, mentioning that operational discipline coupled with innovation will be key to sustaining growth. The focus moving forward is not only on meeting financial obligations but also on refining business practices that harness technology and efficiencies that remain pivotal in the industry. DOOR's commitment to streamlined operations and an enhanced customer experience will play an integral role in championing future successes.

The company remains engaged with investors and stakeholders, ensuring transparency regarding its operational status and ongoing developments. As DOOR continues to evolve, it is set to not only maintain compliance with regulatory requirements but also to foster a forward-thinking approach to market challenges.

In conclusion, DOOR is solidifying its place in the evolving landscape of building intelligence, demonstrating its potential for substantial growth while managing existing challenges effectively. Its leadership's strategic focus is on sustained revenue enhancement, a focus that is likely to yield significant developments as they transition to full recognition as DOOR in the marketplace.