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Income Statement
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Latch, Inc.

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-21Dec-31-20Dec-31-19
   10-K10-K10-K
Total revenues  41.418.114.9
            Revenue growth  129.0%21.3% 
Cost of goods sold  44.020.217.3
Gross profit  -2.7-2.2-2.4
            Gross margin  -6.5%-12.1%-16.2%
Selling, general and administrative   [+]96.832.928.2
Research and development  45.825.318.3
Other operating expenses  12.60.9 
EBITDA   [+]-157.9-61.3-49.0
            EBITDA margin  -381.8%-339.3%-329.0%
Depreciation and amortization  3.21.40.7
EBIT   [+]-161.2-62.7-49.7
            EBIT margin  -389.6%-346.9%-333.9%
Non-recurring items  -12.6-0.9 
Interest expense, net   [+]7.83.2-0.4
Other income (expense), net   [+]-9.9-1.0-0.9
Pre-tax income  -166.3-66.0-50.2
Income taxes  0.10.00.1
Net income  -166.3-66.0-50.2
            Net margin  -402.1%-365.4%-337.4%
   
Basic EPS   [+]($1.92)($9.12)($7.65)
Diluted EPS   [+]($1.92)($9.12)($7.65)
   
Shares outstanding (basic)   [+]86.57.26.6
Shares outstanding (diluted)   [+]86.57.26.6
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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