LTCH - Latch slashes 25% on guidance for Q1 and FY 2022 below consensus

Latch (LTCH -24.9%) Q4 revenue beat consensus by $0.93M to $14.5M, a 94% Y/Y jump. Total Bookings of $96.8M, up 113% Y/Y Total Booked ARR of $71.5M, up 130% Y/Y. Cumulative Booked Home Units were ~590,000, up 94% Y/Y. Adjusted EBITDA was $(44.4)M, down compared to $(12.9)M prior. GAAP Net loss of $53.9M, Basic EPS of $1.92 “It was another strong quarter for Latch, wrapping up a big 2021 for our team. Not only did we take the company public earlier in the year, but we also experienced really strong growth, resulting in a 129% increase in total revenue,” said Luke Schoenfelder, Co-Founder, CEO, and Chairman of the Board of Directors. “As we look ahead, I’m confident that our focus on partnerships, innovation, and new market expansion will continue to pave the way for the industry and help deliver the power of LatchOS to even more spaces, customers, and users.” Outlook Q1

For further details see:

Latch slashes 25% on guidance for Q1 and FY 2022 below consensus