Please see below for a reconciliation of Adjusted EBITDA to our closest GAAP metric, net loss, as well as a discussion of why we view Adjusted EBITDA as an important metric. Adjusted EBITDA: Adjusted EBITDA for the three months ended Mawas $(13.9) million, flat as compared to the same period in 2020.Cumulative Booked Home Units: Cumulative Booked Home Units for the three months ended Mawere 368,994, up 109% compared to 176,902 for the same period in 2020.Total Bookings: Total Bookings for the three months ended Mawere $71.7 million, up 89% compared to $38.0 million for the same period in 2020.Booked ARR: Booked ARR for the three months ended Mawas $38.9 million, up 120% compared to $17.6 million for the same period in 2020.Other expenses for the three months ended Mainclude a $3.6 million unfavorable change in the fair value of the derivative liability primarily related to the Company’s convertible notes and a $3.3 million increase in interest expense primarily related to the Company’s convertible notes, each as compared to the three months ended March 31, 2020. Three Months Ended Maand 2020 Financial Highlights We now have a stronger balance sheet and additional capital as we continue to execute our long-term growth initiatives, increase our share of our large and growing market, and drive value for our shareholders.” Additionally, we are pleased to have recently completed our business combination with TS Innovation Acquisitions Corp. Schoenfelder added, “Looking ahead to the rest of the year, we plan to increase our investments in sales and marketing as well as new, innovative experiences and products to meet the growing demand in the multifamily market. “Our strong results demonstrate the increasing market demand for our industry leading products and tangible ROI for our customers.”
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“Latch had a strong start to the year, highlighted by a sharp acceleration in Total Bookings and revenue growth as well as a significant increase in attach rates of non-access LatchOS software modules to 81%,” said Luke Schoenfelder, Latch co-founder, CEO, and Chairman of the Board of Directors. (NASDAQ: LTCH) (“Latch” or the “Company”), maker of LatchOS, the full-building enterprise software-as-a-service (SaaS) platform, today reported financial results for the three months ended March 31, 2021. Total Bookings of $71.7 million, up 89% year-over-year.Booked ARR of $38.9 million, up 120% year-over-year.Revenue of $6.6 million, up 143% year-over-year.
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