$LTCH making sure it can survive the “recession.” Decreasing spend and laying off about a third of its staff.

“The expected increase in operating efficiencies under this plan, in conjunction with the changes announced in May 2022, are expected to result in approximately $85 million to $95 million in total annualized operating savings once fully completed. Latch estimates annualized operating expenses and capital expenditures of $65 million to $75 million following the completion of these changes.”

$LTCH has 91 mil in cash, 173 mil in short term investments, and 71 mil in long term investments. It has no debt.

That’s 331 mil net cash. It now has 4.7 years of cash burn runway up from 2.1 years prior to restructuring.

Its market cap is ** 1**6**2 ** m**i**l. Not a typo. Which is 50% of its net cash