Results of Operations and Financial
On June 9, 2021, Latch, Inc. (the “Company”) issued a press
release (the “Press Release”) announcing financial results for the
quarter ended March 31, 2021. A copy of the Press Release is
furnished as Exhibit 99.1 to this Current Report on Form
8-K (this “Report”).
The information set forth in Item 2.02 (including Exhibit 99.1)
shall not be deemed “filed” for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”),
or otherwise subject to the liabilities of that section, nor shall
it be deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended (the “Securities Act”), or the
Exchange Act, except as expressly set forth by specific reference
in such a filing.
In the Press Release, the Company has included the “non-GAAP financial measure,” as
defined in Item 10 of Regulation S-K of the Exchange Act, of net loss,
excluding the impact of stock-based compensation expense,
depreciation and amortization expense, interest income, interest
expense, provision for income taxes, restructuring, one-time litigation expenses, loss on
extinguishment of debt, gain or loss on change in fair value of
derivative instruments and certain transaction related expenses
(“Adjusted EBITDA”). In the Press Release, the Company has provided
reconciliations of Adjusted EBITDA to net loss, the most directly
comparable financial measure calculated and presented in accordance
with generally-accepted accounting principles (“GAAP”) in the
United States. In addition, in the Press Release, the Company has
provided the reasons why the Company believes the non-GAAP financial measure of Adjusted
EBITDA provides useful information to investors.
Regulation FD Disclosure.
On June 9, 2021, the Company posted an investor presentation
to the Company’s website. The presentation, which includes updated
information regarding the Company’s financial results for the
quarter ended March 31, 2021, can be found at
https://www.latch.com/investors. The content of the Company’s
website is not incorporated by reference in this Report. Except as
may be required by federal securities laws, the Company undertakes
no duty or obligation to update or revise the information contained
in the presentation; however, the Company may update this
information or post additional information regarding the Company
through the filing of other reports or documents with the SEC,
through press releases or through other public disclosures,
including by posting to the “Investors” section of the Company’s
website listed above.
The information set forth in Item 7.01 shall not be deemed “filed”
for purposes of Section 18 of the Exchange Act or otherwise
subject to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act or
the Exchange Act, except as expressly set forth by specific
reference in such a filing.
Financial Statement and Exhibits.