Latch posted a GAAP net loss of $6.9 million, narrowing 12.1% from a year earlier.
Revenue fell 18.1% to $15.62 million, as hardware dropped 41.8% to $3.44 million and professional services slid 23.4% to $6.05 million.
Software revenue rose 16.8% to $6.12 million.
Non-GAAP adjusted EBITDA loss narrowed 37.5% to $3.56 million.
Credit facility update
DOOR Systems drew about $4.4 million on a new $5 million Truist revolving credit facility to repay its Customers Bank term loan, leaving $0.6 million available.
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