Latch Misses On Revenue, $166 Million Loss For The Year

By Charles Rollet, Published Feb 25, 2022, 06:58am EST (Research)

********** **** ****** **** **** ******* $500+ ******* ** * $*.*+ ******* valuation, *** ***** *** ***** ********* ~70% *** *** ****** ********** ****** higher ******** *** *****-****-******** ******.

IPVM Image

** **** ****, **** ******** *****'* latest ********** *** **** **** **** for *** ****.

Executive *******

***** ****** *** **** ******* ********** by **%, ****** $** ******* ******* of *** $** ******* ** ********* when ** ******, ***** ****** $*** million *** *** **** *** ******** its **** ******** ******* ** ** least $** *******.

** ** ******** ****, ***** ****** 2021's *** ************* ** ****** ***** disruptions *** **** ** ***** **** reporting '********' ** ******* ***** ** actual ********* *******.

Missed ******* ** $* *******

*********,***** *************** $** ******* ** **** *******:

IPVM Image

**** *** $* ******* ***** **** projected *******'* **** *******,***** ********* $** ******* ** ******* in ****, ** ***% **** **** revenue ** $** *******:

IPVM Image

*******, ** ******, ****************** ******** ** * "***** ** $38 ******* ** $** *******", ******* its ****** ******* ** ** **** with *** *********.

Loses $*** *******

*** ******* **** ********* ****** $***.* million ** **** ("*** ****" ** the ******** ** *** ******/*******):

IPVM Image

***** *** *** ******* *** ***** net ******/**** ** *** *** *******, however, ** ***************** ** -$** *******, ******* *****'* actual **** ****** *** -$***.* ******* i.e. **% ******.

Downgrades **** *******

***** **** ********* ** ******** **** revenue "** *** ***** ** $** million ** $*** *******", * ***** decrease **** *** *** ********** ** $173 *******:

IPVM Image

*****'* ****** **** ******** ******* *** $8.2 ******* **** ******** ******* ** $33.1 *******, ** ******** ** *****'* IPO ********** *** **** ** $** million *** ******** *** $** ******* for ********.

*****'* ******* **** ********** ** *** $14-15 ******* ** ******** *** *** rest ($**-$** *******) ** ******** *****, significantly ***** **** *****'* *** ********** for **** ** $*** ******* ** hardware *** $** ******* ** ******** sales;

Stock *****

*****'* ***** ******* **** **% ***** hours:

IPVM Image

**** ** *******, ******** *** ***** as *****, ** ** ****** **** Latch ********** *** **** ******* ********** and******* ~**%.*****, ******** ********** **** ****, ** *** ****** the *&* ***:

IPVM Image

Supply ***** ****** **** *************

** *********** ****, ***** *** **** ************ **** supply ***** ****** "****** ******** ************ in *** ********** **** *********" ** its ****** ********, ****** "**** ** the **** *********** ****** ***** *** labor ********* **'** **** ** ****** times":

IPVM Image

** * ********, ***** *** ***** key ******* ** *****'* ***** *************, first ******** ******* ** ***** *** logistics, ****** *********** **** ** ******** revenue *** ***** ******** ******* ********** of *** ***** ********. ** ****, bill ** ********* *** ********* ***** skyrocketed *** ** *** ************* ****** chain ********** ****** ** *** **** electronics ********** ******. **** ****** ***** impact ****** ******** ************ ** *** underlying **** ********* ** *** ******** products ******** ** ****. *** *******, our ****** ********** * ****** *** a ******* **% ***** **** **** our ***** ********** * ****** *******. But *** ** **** *********** ****** improvement *** **** *** ** *** supply ***** ***********.

****** ***** ** ********* *** ***** were *** ****** ****** *** *****'******** ********* ** ****** ** ****.** *** ******** *** *****, ** does *** ****** "********** ***********" ** the ****** ***** *****, *** ***** Mitchell ******:

**** ******** ******* ** ********** *********** in *** ******* ****** ***** *** supply ***** ***********.

Missed ************* ** ********

** ********, * *** ************* ******, Latch "*** *** *******" ** **** large *************, **** ************ ******* **********. Schoenfelder **** **** ***** *** "****** in ********** *******" ****** "**********":

IPVM Image

***** ** ******* ****** *** **** software ********* ********** ****, ** *** not ******* ** **** ** *** largest *** ********* ******* ************* **** we *** ****** *** ****. ****** in ********** ******* **** ******** ** a ***** ***** ** ********** ******** revenues *** ****** ** ******** ******** in ****. *** ** ******* **** these ****** *** ********** *** ***'* present ****-**** *********.

********, ***** * ******* ********** ** Latch's **** ***** (**%), ** **** higher ****** (**% ** **) **** ******** ******* ("** *** zero ** *** ****** ***** ********** range"), *** ** **** ******** *** Latch's ******, **** *** ***** **************"** **** *** ******** ** * vehicle *** *** ******** ** *** high ****** ******** *** ********".

Shift **** '********' ** *******

'********' *** * ***-**** ****** ******** by ***** ***** ******** *** ****** income (****** *** ********), **** ********* actual ******* ****** ********** *****.******* ** *********** ****, ***** *** **** ************ **** Latch ***** "****** *** ****** *******" and **** ************ ***** ***** *** bookings:

IPVM Image

***** ******* *** **** * ***** transition ******, ** **** **** ************ our ***** ***** *** ********, *** sunset *** ****** ******* **** ********** and **********. ******** *** ************ **** our ******* ***** **** **** ** to ***** ** **** *******. ********** to **** ********* ******** *** ******** revenue *** ********** *** *** ************ and ********* ** ****.

************ **** **** *** **** ** Latch's ***** **** ***** ******* "****-**** revenue ********* ** *** **** ********":

IPVM Image

*** *** ***** ** ****-**** ******* execution ** *** **** ******** ** going ** ** *** ******* ********. As * ******* ******* ******* ** create * *** ******* ********. ** relied ** ******** ** * *** to ***** ********* ******* *** ******* growth ** *** ******

**** ********, ********* **** *** ********* positively ** *****'* **** '********' *******, e.g. ***** **** ******** ******** *%** ******, ***** ********* ******* ** the ***** *********. ****** *** ****, Latch **** *** ******** ******** ******** substantially, ********* $*** ******* ** ***** bookings, **** ***** *** $*** ******* from *** ****** ********** *** $*** million ** *** **** **********.

Meeting ********** **** *********** *********

*****'* ***** ******, ****** *******, *** supply ***** ****** ***** ******** ***** whether ** *** **** *** ********** SPAC *********** ** **** ******** ** struggle.

** *** ****** ****, ** ****** chain ****** ******* *** ***** ** able ** ************ ***** ** ****** revenues (** '********'), ***** ***** ********** move ******* * **** *********** ******** with ****** *******"** ****** ********* ** *** ******* to ***** **** *** ********".

Vote / ****

Comments (10)

* **** ** **** * **** bought *** *** * ******** ** a *****!

IPVM Image

Agree
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Informative
Unhelpful
Funny: 3

***** ****** ***** $* *** ***** today, ******** ******** *** ***** **** ~13% ***** ********:

IPVM Image

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Funny

*** **** ****** **%....

Agree
Disagree
Informative: 1
Unhelpful
Funny

***** ******** *** *** ** * new ***-**** ***:

IPVM Image

Agree
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Informative: 2
Unhelpful
Funny

……*** *** **** *** ****** ***** leadership *** *********.

Agree
Disagree
Informative
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Funny: 1

***** **** ********* ** ******** **** revenue "** *** ***** ** $** million ** $*** *******", * ***** decrease **** *** *** ********** ** $173 *******:

**** ******** ** *** ********* ** revenue *********** ** ****** $*****.

Agree
Disagree
Informative: 1
Unhelpful
Funny

*** ****** *** *** ******** *********** with ***** ******* "**** **** *** channel" (**** ******* *** ***?!) *** about **** ******* ******** ** ******* work? *'* ******* ******* * ***** to ***** *** ** **** * couple ***** *** ** ** ********** inquiring ***** *** ************* ** ********** installation/survey/quote ******** *** *** ****** ******* portion ** ***** ********. ** ***** was ******** *** * ***** **** to ***** ****** *** *** **** a ******* ******** **** ** * didn't **** *** * *** ******* (name/ext) **** **** ***** *** **** me.

*'* **** (*********) **** *** ******* but **** **** ************ *** ***** back **** **** ******* *** .... being ********.

Agree
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Informative: 1
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Funny

* **** ********* ******** ******** ***** in ******** * ***** ***********

**** ******** **

***** ******* ** ****

*******

* ** *** ******* ** ******* against ****

Agree
Disagree
Informative: 1
Unhelpful
Funny

*****, **** ** *** **** ** an ***********? ******* ** ****. ******.

Agree
Disagree
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Unhelpful
Funny

** *** ******* **** * ******** manufacturer ** ****** * *******

**** * ******* ******* ***

Agree: 1
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Informative: 1
Unhelpful
Funny
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