Latch LTCH

Latch, Inc. is a technology company delivering an integrated ecosystem of hardware, software and services designed to enhance operations and experiences within buildings, primarily serving the multifamily rental market. The company rebranded as DOOR in August 2025 while maintaining its legal name as Latch, Inc. Its core offering is built around a proprietary, cloud-based software-as-a-service platform that powers and manages smart access control devices, smart home devices, and integrates with other connected devices within a building. Latch, Inc. provides solutions that streamline building management for property owners and operators, offer modern convenience and security for residents, and simplify interactions for visitors and service providers. The company is actively expanding its DOOR Platform and device integrations to encompass broader smart home solutions, including sensors, thermostats, and lighting, to create more connected and efficient buildings.

Latch, Inc. generates revenue through the sale of hardware devices, licensing of its SaaS platform, and professional services. Customers typically purchase hardware devices directly or indirectly through a channel partner network and directly license the DOOR Platform software from the company. Residents interact with the DOOR Platform through the DOOR mobile application and its predecessor Latch mobile application to access common areas, unlock residential doors, provide guest access, manage smart home devices, and book services. Professional services include connecting multifamily property customers with partners for installation of Latch and third-party smart access and smart home hardware, as well as on-demand technical services through its wholly-owned subsidiary HelloTech, Inc., which offers TV mounting, smart home device installation, furniture assembly, and handyman services. Additionally, Latch, Inc. operates a comprehensive property management service in and around Boston, Massachusetts.

The company operates through the following segments:

• DOOR Platform: This segment encompasses the company's central software platform that unifies the building experience for all stakeholders. It includes DOOR OS, a web-based application for building owners, property managers, and channel partners to manage access permissions, oversee building operations, monitor connected devices, streamline resident turnover, and resolve operational issues remotely. The DOOR App, available on iOS and Android, is used by residents and building operators for unlocking doors, managing guest and service provider access, and controlling and monitoring integrated smart home devices. Additional components include Concierge Pro, an optional 24/7 remote receptionist service, and OpenKit, which provides SDKs and APIs for partners to integrate their applications with the DOOR Platform.
• Hardware Devices: This segment includes Latch-designed smart locks for unit doors (Latch C, M, and Interconnect series) and readers for common areas and building entrances (Latch R), designed to meet industry standards and building codes. Connectivity and other devices such as the Latch Intercom, Latch Link (a QR-code based virtual intercom), DOOR Camera, and DOOR Hub enable communication between the DOOR Platform and various smart access, smart home, and sensor devices within a building. The Latch Lens program allows third-party hardware manufacturers to embed Latch technology in their products, enabling seamless operation with the DOOR Platform and expanding hardware choices for customers while maintaining a unified software experience.
• Professional Services: This segment involves connecting multifamily customers to a vetted network of technicians and service providers for the installation and deployment of Latch and third-party smart access and smart home hardware products within multifamily properties. The HelloTech business operates as a platform linking a nationwide network of independent, vetted technicians and service providers with single-family and multifamily property residents and property managers requiring on-demand technical services such as TV mounting, smart home device installation and set-up, as well as broader home services like furniture assembly and handyman services. HelloTech also offers a subscription service that includes discounted home services, 24/7 online support, home technology checkups, and antivirus and password manager software support.

Latch, Inc. operates in the competitive smart building technology market, which includes traditional lock manufacturers, other smart access control providers, and specialized smart home device and platform companies. The company believes its key competitive strengths lie in its SaaS revenue model, which provides a recurring revenue stream tied to DOOR Platform deployment; its unified management experience that reduces complexity for property managers; its established channel partner network providing broad market reach across the United States and portions of Canada; its end-to-end service capability through professional installation services and the HelloTech platform; and its intellectual property portfolio, which includes approximately 100 patents, with approximately 45 utility patents protecting inventive aspects and approximately 55 design patents protecting ornamental designs of hardware products, none of which expire prior to 2035 except one foreign design patent expected to expire in 2026.

Latch, Inc. serves real estate developers, builders, owners, and property managers in the United States and Canada. The company's customers include entities such as The Broadway Company and Boston Realty Advisors, from which it acquired property management businesses in March and June 2024, respectively, to launch Door Property Management, LLC. Residents interact with the DOOR Platform through the DOOR App to access building amenities and services. The company also works with channel partners that market, sell, install, and provide activation services for its solutions, and engages in direct sales and service arrangements with certain customers.