My Top Tech IPO to Buy in May
Still largely untouched by the cloud software movement, the real estate industry is ripe for disruption. That means software outfit Latch -- soon to go public through a merger with SPAC TS Innovation Acquisitions (NASDAQ: TSIA) -- has massive growth potential as it helps upgrade apartment and commercial properties for the 21st century. After the company reported a fantastic start to 2021, I plan on doubling up on my small stake in the month of May. Here's why.
Latch reported booked revenue (revenue under contract but not yet earned) and net revenue of just $167 million and $18 million, respectively, in 2020. As Latch signs up new customers on contracts averaging six years in length, booked revenue will be an important metric to watch in 2021. The growth rate was "only" 49% last year as the pandemic put many construction projects on hold.
Image source: Getty Images.
Source Fool.com
