Latch Now Cuts 50%+ of Employees - Financials Analyzed

By John Honovich, Published Aug 03, 2022, 08:59am EDT (Research)

***** *** ********* *** ****** ***** of ******* ** **** **** * months, **** *** **** **** **% of ********* ****** **** ***. ******* this, **** ******** ***** *****'* **** structure ** ***** *** *** **** for *** ********** *** ***** *******.

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** *******, ***** **** *** *** ***** promoting *** ******* *** ***** *** *********. ***, in ****** ****,***** ** ****** *** ******* *** employees.

***** ** *** ******* **** ******* just ** ***** ***, ***** *** almost *** *********, *** ** **** have **** **** ***, ** *** chart ***** ***********:

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****** *** ******** ******* ** *** report, ** ******* *****'* ********* ********* problems ******** **** *** ******** ******** -*****'* ****** ******** ***** ******** (********)***** ** ********* ********* ***** ******* before **** ********.

** *** ******** ****, ***********, ****** off ***+ ****** ** "******** ** result ** ************* $** ******* ** $95 ******* ** ***** ********** ********* savings **** ***** *********."

*******, ** *** ******** ****, ****** these *******, *****'* ********** ********* ******** were $***+ ******* (***** **** ****'* ~$** ******* ** ********* expenses). **** ***** ***** *******, ****** operating ******** **** ** ** *** range ** ~$*** ******* (****** ***** engages ** ******* *******).

Mismatch *** *** ********

*** *********** ******* ** *** **** mismatch ******* *** *******'* ****** ********* Revenue (***) *** *** ********* ********. Operating ******** ** **** * ***** burn ** $*** ******* ******** ***** not ** ******** ** **** ** revenue *** *************** ****. ************* *** Latch, *** ** *** *** ** Q1 **** *** **** $*.* *******, and ***** ******** *** *** ** increase **** $* ******* ** *** end ** **** ****.

** *** ***** ***** **********, **** after *** *******, *****'* *********** ******** are ***** ****** ****** **** *** ARR:

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Burn ******** ********

*** *** ********* *** ** ******* company ********** ** * **** ******** comparing *** **** **** ** ***** used ****** *** **** *** ** growing (*** ***** ****'* *****, *.*.).

****** ********* *** ******** ** ******* at * **** *** *** ****** of **** ****** ** ** ***** somewhat ** **** **** *** **** ARR *** ******* ** ******.

*****'* **** ******** ** ********, *.*., based ** *****'* ** ****** ** $1.6 ******* ** *** ****** *********** cash **** ** -$** *******, *** burn ******** ** * ************ ***, contrasted ******* **** ****'* **********:

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*** ******* ****** **** ********, *.*., if ********** **** ***** ******** *** costs ******** **%, *** **** ******** will *** ** ~***. *******, **** is ***** ********, **** **** ********.

Faster ******* ******

**** ***** ****** ***** ** *** faster ******* ******. *** ***** **** investors ******* **** **** **** *** "spaces" (*.*. ******** **** ***** ***) are ******** ** ** **** ** down *** *** **** ** **** year:

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**** **** *** **** ****** ** what *** ****** ** *****'* ******* will ** **** ****** *** ** many ***********. *********, ***** *****'* ******* problems, **** ** ***** *********** **** likely ** ** ************.

*** ******** ****** ** *** ***** accelerate ******* ****** ***** ************* ******* its ***** ****? ***** *** ***** no ********** ** **** ** ***. Its ** ********* ****** ** ******** and *** **** ***** ** ****.

More *******?

****** ***** *** ******* ********** *******, we ***** ******* ***** ** ******* will ** ********* ** *** *** cost ********* ****** ** **** *** (low) *** ****** **** **.

Cash ******** *** ******

***** *** ~$*** ******* ** **** remaining ($*** ** *** *** ** Q1 **** ********* ** ~$** ******* burn *** ** *** ****) ***** is * ******** *** *** *******. Contrast **** ** * **** **** of ~$*** ******* *** ****, ** least *************, **** * *** ***** until **** *** *** ** ****.

*******, *** ******* *********** ******** ** repeated ******* *** **** ******* ********** to * ******* **** ** ***** struggling ** **** * ****** ******** model, * **** ***** ***** ******.

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