Core Insights - Life360 achieved approximately 79.6 million Monthly Active Users (MAUs), marking a 30% year-over-year increase [10][15] - The company reported total quarterly revenue of $115.5 million, a 33% increase year-over-year, and annualized monthly revenue of $367.6 million, up 34% year-over-year [6][20] - Life360 reached positive net income of $8.5 million in Q4 2024 and a record positive Adjusted EBITDA of $45.5 million for the year [3][30] Financial Highlights - Q4 2024 subscription revenue was $78.8 million, a 32% increase year-over-year, while core subscription revenue rose 36% year-over-year to $73.1 million [6][18] - Total revenue for the full year 2024 was $371 million, reflecting a 22% year-over-year growth [3][17] - Operating expenses increased by 24% year-over-year, but the total operating expenses as a percentage of revenue decreased to 69% from 74% [22][24] Operating Metrics - Life360 added 2.8 million net MAUs in Q4 2024, with U.S. MAUs increasing by 19% year-over-year and international MAUs by 46% [15][20] - The number of Paying Circles grew to 2.3 million, a 25% increase year-over-year, with average revenue per Paying Circle (ARPPC) rising by 6% [10][15] - The company ended Q4 2024 with cash, cash equivalents, and restricted cash of $160.5 million, an increase of $89.7 million from Q4 2023 [28] Strategic Developments - Life360 launched its advertising business in 2024, which is expected to unlock new growth opportunities [2] - The company aims to reach 150 million MAUs and surpass $1 billion in annual revenue by focusing on family safety and connectivity [3] - Life360 completed its U.S. IPO in 2024, enhancing its public profile and capital position [2][3] 2025 Outlook - For FY 2025, Life360 expects consolidated revenue between $450 million and $480 million, with positive Adjusted EBITDA projected between $65 million and $75 million [7][33] - The company plans to invest $8 million in developing and launching a new pet device in 2025 [33]

Financial Performance - Life360 reported total revenue of $371.5 million for the year ended December 31, 2024, representing a year-over-year increase of 22% from $304.5 million in 2023[35]. - Subscription revenue reached $277.8 million in 2024, up 26% from $220.8 million in 2023, while hardware revenue was $57.6 million, a slight decrease from $58.2 million in 2023[35]. - The company reported a net loss of $4.6 million in 2024, an improvement from a net loss of $28.2 million in 2023[35]. - Revenue from key data partners represented approximately 7%, 7%, and 10% of total revenue for the years ended December 31, 2024, 2023, and 2022, respectively[126]. - Life360 has incurred operating losses each year since its inception and may not achieve or maintain profitability in the future[137]. - Revenue, excluding Tile and Jiobit revenue, has increased each quarter since 2016, but future growth is uncertain due to potential increased competition and market size reduction[137]. User Metrics and Engagement - The company had approximately 79.6 million Monthly Active Users (MAUs) as of December 31, 2024, reflecting a 30% increase year-over-year, and 2.3 million global Paying Circles, a 25% increase[27]. - Member retention and engagement are critical, as any decline could materially impact revenue and financial performance[71]. - Life360's member metrics, including MAUs and subscription fees, are subject to inherent challenges in measurement, which may lead to inaccuracies affecting business decisions[135]. - Life360 has historically experienced member and subscription growth seasonality in the third quarter, with hardware sales peaking in the fourth quarter due to holiday demand[147]. Product Development and Innovation - Research and development expenses were $113.1 million in 2024, compared to $101.0 million in 2023, indicating a continued commitment to enhancing customer offerings[43]. - The company has invested significantly in developing new products and services, which may take time to yield returns[87]. - The company must continuously innovate to maintain its competitive position, as failure to do so could lead to decreased market share[87]. - The company has invested in new business strategies and partnerships, such as the Hubble Agreement for satellite Bluetooth technology, but these investments carry risks and uncertainties[134]. Compliance and Regulatory Risks - The company is subject to high compliance costs due to U.S. and foreign laws and regulations, which are expected to increase as the business grows and expands geographically[52]. - The company processes sensitive personal data and is subject to numerous data privacy and security obligations, including the CCPA and GDPR, which may increase compliance obligations and exposure for noncompliance[54]. - The EU Digital Services Act (DSA) and the UK Online Safety Act may increase compliance costs and require changes to user interfaces and business practices, potentially affecting member retention and service provision[55]. - The updated COPPA rule effective January 16, 2025, introduces new requirements for the collection and use of children's personal information, potentially increasing compliance costs[161]. - The company may face significant penalties for violations of privacy laws, including fines of up to $7,500 per intentional violation under the CCPA[159]. - The company is subject to stringent data privacy and security laws, which could lead to regulatory investigations, litigation, and reputational harm if compliance is not maintained[157]. Market and Competitive Landscape - The company faces significant competition in the family safety and location-based services market, which is characterized by low switching costs and a constant influx of new entrants[76]. - The digital consumer subscription products market is evolving, and the company's future success depends on its ability to anticipate and satisfy changing consumer preferences[83]. - Economic conditions, including inflation and consumer confidence, may adversely affect discretionary spending and demand for Life360's products and services[145]. Supply Chain and Operational Risks - The company relies on a limited number of suppliers for smart trackers, and any loss or change with these partners could negatively impact product availability and quality[65]. - The company relies on a single manufacturer for its Tile and Jiobit devices, increasing risks related to supply chain disruptions and production delays[111]. - A significant portion of annual retail orders occurs in the last quarter of the year, which includes critical selling periods, placing pressure on the supply chain[118]. - The company prioritizes hardware inventory allocation for bundled subscription offers over retail sales due to ongoing supply chain issues[114]. Cybersecurity and Data Privacy - Cybersecurity threats, including ransomware attacks, pose significant risks to the company's operations and data integrity[180]. - The company has identified certain vulnerabilities in its information systems and is taking steps to mitigate risks, but there is no assurance these measures will always be effective[184]. - Security incidents could disrupt the company's ability to provide services and may lead to unauthorized access to sensitive data[185]. - The company may incur significant costs to protect against security incidents and comply with data privacy obligations[186]. Intellectual Property and Legal Risks - The company’s success depends on protecting its intellectual property rights, which are critical for brand loyalty and recognition[201]. - The company has received patents and filed patent applications for certain aspects of its technology, but there are no assurances that these will provide adequate protection against competitors[203]. - The company may be involved in expensive and time-consuming intellectual property-related litigation, which could materially impact its financial condition and results of operations[214]. - The company anticipates an increase in patent and intellectual property claims as it gains public recognition and faces heightened competition[216].

Company Overview - Life360 is a leading family connection and safety company that provides services such as location sharing, safe driver reports, and crash detection with emergency dispatch [2][5] - The company has approximately 76.9 million monthly active users globally as of September 30, 2024, and operates in over 170 countries [5] Growth and Recognition - Life360 ranked No. 393 on the Deloitte Technology Fast 500™, reflecting a growth of 278% from 2020 to 2023 [1][3] - The recognition highlights Life360's focus on audience growth, expansion of paid offerings and subscriptions, and operational efficiency to drive profitability [2] Services and Technology - Life360's mobile app and Tile tracking devices empower users to stay connected to their loved ones, pets, and belongings [2][5] - The company emphasizes delivering peace of mind and enhancing everyday family life through its services [5] Eligibility for Recognition - To qualify for the Deloitte Technology Fast 500, companies must have proprietary intellectual property or technology that contributes to a majority of their operating revenues, with base-year revenues of at least US$50,000 and current-year revenues of at least US$5 million [4]

Core Insights - Life360 achieved record quarterly results in Monthly Active Users (MAUs), Paying Circles, Subscription Revenue, and Annualized Monthly Revenue for Q3 2024, with MAUs reaching approximately 76.9 million, a 32% year-over-year increase [1][3][11] - Total revenue for Q3 2024 grew 18% year-over-year to $92.9 million, with subscription revenue increasing 27% year-over-year to $71.8 million [10][25] - The company raised its outlook for 2024 Adjusted EBITDA, expecting positive Adjusted EBITDA of $39 million to $42 million [11][36] User Growth and Engagement - The member base grew by 32% year-over-year, adding 6.3 million new MAUs in Q3 2024 [3][23] - Paying Circles saw a record net increase of 159 thousand, a 35% year-over-year growth, bringing the total to nearly 2.2 million [11][23] - International MAUs increased by 51% year-over-year, contributing significantly to overall growth [3][23] Revenue Performance - Annualized Monthly Revenue (AMR) increased by 30% year-over-year to $336.2 million [10][11] - Average Revenue Per Paying Circle (ARPPC) grew by 6% year-over-year, driven by a shift towards higher-priced products in the U.S. market [11][23] - Core subscription revenue increased by 34% year-over-year, primarily due to a 25% increase in Paying Circles [26] Product and Market Strategy - Life360 launched a new lineup of Tile devices, which significantly differentiates the company from competitors with its SOS feature [4][5] - The advertising initiative, particularly the partnership with Uber, is showing significant potential for monetization [7][8] - The company is focusing on international expansion, which is critical for future growth, and has started to reach tipping points in multiple countries [2][3] Financial Highlights - Q3 2024 net income was $7.7 million, marking a significant improvement from a net loss in the prior year [10][33] - Operating cash flow for Q3 2024 was $6.3 million, reflecting a 55% year-over-year increase [10][30] - Total operating expenses increased by 10% year-over-year, demonstrating strong operating leverage despite revenue growth [29] Future Outlook - Life360 updated its 2024 guidance, expecting consolidated revenue of $368 million to $374 million and maintaining core subscription revenue growth of over 25% year-over-year [11][36] - The company anticipates achieving positive EBITDA in Q4 2024 and sustaining positive Adjusted EBITDA on a quarterly basis moving forward [37][36]

Financial Performance - Q3'24 revenue reached $92.36 million, representing an 18% year-over-year growth[5] - Q3'24 total revenue reached $92.9 million, an 18% increase year-over-year from $78.6 million in Q3'23[39] - Subscription revenue grew to $71.8 million, reflecting a 27% year-over-year increase from $56.6 million[39] - Annualized Monthly Revenue (AMR) increased to $336.2 million, a 30% growth compared to $259.1 million in the previous year[39] - Net income for Q3'24 was $7.7 million, a significant improvement from a net loss of $6.5 million in Q3'23[39] - Other revenue surged by 43% year-over-year to $9.3 million, driven by increases in data and partnership revenue[50] - The company expects consolidated revenue for 2024 to be between $368 million and $374 million, with core subscription revenue growth projected at over 25% year-over-year[53] - Positive Adjusted EBITDA is anticipated to be between $39 million and $42 million for 2024, upgraded from previous estimates[53] - Adjusted EBITDA increased to $9.0 million in Q3 2024, up from $5.5 million in Q3 2023, reflecting a significant improvement in operational efficiency[63] - EBITDA for Q3 2024 was $(2.6) million, an improvement from $(4.2) million in Q3 2023, showing a trend towards profitability[63] User Growth and Engagement - Monthly active users (MAU) increased to approximately 76.9 million, with a consistent growth trend observed[5] - As of September 30, 2024, Life360 reported approximately 76.9 million global monthly active users (MAU), reflecting a 32% year-over-year growth[38] - Life360's global Monthly Active Users (MAU) grew by 32% year-over-year in Q3'24[42] - The company has around 2.2 million global paying circles, with a quarterly net addition of 159,000, marking an all-time record[38] - Life360 reported a significant increase in daily active users (DAU), ranking high among social networking apps in the U.S.[15] Market Expansion and Strategy - Life360's U.S. penetration rate is projected to grow from 6% in 2020 to 14% by 2024, indicating significant market expansion potential[14] - Life360's international penetration is expected to increase, with the United Kingdom projected to grow from 2% to 9% by 2024[14] - The company is targeting a total addressable market (TAM) of approximately $80 billion across various services, including family finance and auto insurance[7] - Life360 aims to expand its global presence while maintaining strong growth in existing markets, with a focus on user experience and feature parity[13] - The company is targeting high-income markets internationally, focusing on regions with a driving culture to drive subscription revenue growth[23] Product Development and Innovation - The company plans to enhance its product offerings, including roadside assistance and emergency dispatch services, to drive user engagement[8] - Life360's new product launch, including the integration of Tile devices, aims to enhance user engagement and expand market reach[27] - The company is expanding its advertising revenue stream, with initial infrastructure established to support this growth[38] Financial Efficiency and Cost Management - The company has a strong capital efficiency model, achieving $6.3 million in operating cash flow in Q3 2024, supported by a scalable tech stack[36] - Operating expenses rose to $75.0 million, a 16% increase from $64.4 million in Q3'23[39] - Operating expenses totaled $75.0 million in Q3 2024, up from $64.4 million in Q3 2023, primarily due to increased research and development costs[58] - Stock-based compensation rose to $11.5 million in Q3 2024, compared to $9.5 million in Q3 2023, suggesting increased employee incentives and retention efforts[63] Revenue Metrics - Life360's annualized monthly recurring revenue (AMR) reached $336.2 million in Q3 2024, representing a 30% year-over-year growth[36] - Average Revenue per Paying Circle (ARPPC) rose to $127.57 in Q3 2024, a 6.4% increase from $119.97 in Q3 2023[55] - Life360's advertising revenue per user (ARPU) is projected to grow significantly, with potential long-term growth in advertising revenue indicated by historical data[33] Cash Flow and Assets - Cash and cash equivalents increased to $159.0 million as of September 30, 2024, compared to $69.0 million at the end of 2023[59] - Total assets grew to $427.4 million as of September 30, 2024, up from $321.7 million at the end of 2023[59] Future Outlook and Strategic Focus - Future strategies include resource allocation and operational assessments to enhance EBITDA and Adjusted EBITDA metrics[64] - The company is focusing on non-GAAP financial measures to provide clearer insights into operational performance, excluding certain non-recurring items[64] - The adjustments in financial measures are aimed at providing investors with a clearer picture of the company's core operational results[64] - The company is transitioning to a new logistics partner, which may incur non-recurring warehouse relocation costs[63]

Revenue Performance - Subscription revenue increased by 27% to $71.833 million for the three months ended September 30, 2024[145] - Hardware revenue decreased by 24% to $11.744 million for the three months ended September 30, 2024[145] - Other revenue increased by 43% to $9.288 million for the three months ended September 30, 2024[145] - Total revenue increased by 18% to $92.865 million for the three months ended September 30, 2024[145] - Subscription revenue increased by $15.2 million (27%) in Q3 2024 compared to Q3 2023, driven by 20% growth in total subscriptions and 25% growth in Paying Circles[150] - Hardware revenue decreased by $3.8 million (24%) in Q3 2024 due to delayed product launch and increased discounts[151] - Other revenue increased by $2.8 million (43%) in Q3 2024, primarily due to a $2.0 million increase in data revenue from the A&R Placer Agreement[152] - Subscription revenue increased by $38.1 million (24%) in the nine months ended September 2024 compared to the same period in 2023[153] - Hardware revenue decreased by $3.3 million (9%) in the nine months ended September 2024, mainly due to a $4.8 million decrease in retail sales[154] - Other revenue increased by $3.6 million (18%) in the nine months ended September 2024, driven by a $2.1 million increase in data revenue[155] Profitability and Margins - Gross profit increased by 21% to $70.012 million for the three months ended September 30, 2024[145] - Hardware gross margin decreased to 5% in Q3 2024 from 26% in Q3 2023 due to increased discounts and fewer units sold[160] - Other gross margin increased to 88% due to higher data and partnership revenue while costs remained flat[165] - Hardware gross margin decreased to 14% from 20%, driven by increased freight costs and fixed hardware costs[164] Expenses - Research and development expenses increased by 18% to $29.012 million for the three months ended September 30, 2024[145] - Sales and marketing expenses increased by 19% to $30.722 million for the three months ended September 30, 2024[145] - Cost of subscription revenue increased by 29% to $10.659 million for the three months ended September 30, 2024[145] - Cost of subscription revenue increased by $2.4 million (29%) in Q3 2024, primarily due to higher technology and personnel-related costs[157] - Cost of subscription revenue increased by $7.7 million (34%) in the nine months ended September 2024, driven by higher technology expenses and premium membership costs[162] - Hardware revenue cost decreased by $0.6 million, or 2%, primarily due to reduced units sold and discontinued battery-related membership benefits[163] - Research and development expenses increased by $8.3 million, or 11%, primarily due to personnel-related and stock-based compensation costs[167] - Sales and marketing expenses increased by $6.4 million, or 9%, driven by Channel Partner commissions and other marketing spend[169] - General and administrative expenses increased by $4.5 million, or 11%, due to professional services and personnel-related costs[172] Net Income and Comprehensive Income - Net income improved to $7.689 million for the three months ended September 30, 2024, compared to a net loss of $6.541 million in the same period last year[145] - Total comprehensive income improved to $7.689 million for the three months ended September 30, 2024, compared to a total comprehensive loss of $6.558 million in the same period last year[145] Other Income and Expenses - The company recorded a $5.4 million gain from a fair value adjustment of investment in warrants[178] - Other income (expense), net increased by $2.2 million, or 649%, driven by higher dividend and interest income[180] - Provision for income taxes increased by $1.9 million due to the estimated growth in the company's annual effective tax rate[182] User and Subscription Metrics - Annualized Monthly Revenue (AMR) increased by 30% year over year to $336.2 million as of September 30, 2024[186] - Monthly Active Users (MAUs) grew by 32% year over year to 76.9 million as of September 30, 2024[187] - Paying Circles increased by 25% year over year to 2.2 million as of September 30, 2024[189] - Average Revenue per Paying Circle (ARPPC) increased by 6% year over year to $127.57 for the three months ended September 30, 2024[192] - Subscriptions grew by 20% year over year to 2.8 million as of September 30, 2024[194] - Average Revenue per Paying Subscription (ARPPS) increased by 5% year over year to $106.27 for the three months ended September 30, 2024[197] Hardware Metrics - Net hardware units shipped decreased by 24% year over year to 0.8 million for the three months ended September 30, 2024[201] - Net Average Selling Price (ASP) decreased by 4% year over year to $12.69 for the three months ended September 30, 2024[203] Cash and Financial Position - Cash and cash equivalents increased to $159.0 million as of September 30, 2024, up from $69.0 million as of December 31, 2023[205] - Net cash provided by financing activities was $72.5 million for the nine months ended September 30, 2024, primarily due to the U.S. IPO[214] - Principal commitments include obligations under operating leases for office space and other purchase commitments as of September 30, 2024[216] - Cash equivalents invested in cash and money market funds increased to $159.0 million as of September 30, 2024, up from $69.0 million as of December 31, 2023[220] Risk and Compliance - A hypothetical 10% change in interest rates would not materially impact the company's financial statements as of September 30, 2024[220] - The company's revenue is not significantly exposed to foreign currency risk as the majority of sales are denominated in U.S. dollars[221] - A hypothetical 1,000 basis-point change in the U.S. dollar's relative value would not materially affect operating results[221] - Inflation has not had a material effect on the company's business, results of operations, or financial condition[222] - Disclosure controls and procedures were effective as of September 30, 2024[224] - No changes in internal control over financial reporting materially affected the company during the three months ended September 30, 2024[225] - The company may face future regulatory investigations and inquiries related to data protection, consumer rights, and other legal matters[228] - Litigation and regulatory inquiries could have adverse impacts due to defense costs, management resource diversion, and potential operational restrictions[228]

Financial Performance - Q2'24 revenue reached $11.0 million, representing a 13% month-over-month growth[4] - Life360 reported Q2'24 total revenue of $84.9 million, a 20% increase year-over-year, with subscription revenue growing by 25% to $65.7 million[34] - Life360's annualized monthly revenue (AMR) reached $304.8 million, representing a 23% increase compared to the previous year[34] - Operating cash flow for H1 2024 was $13.9 million, demonstrating strong capital efficiency and positive operating cash flow[32] - Adjusted EBITDA for Q2'24 was $11.0 million, marking the seventh consecutive quarter of positive adjusted EBITDA[34] - Adjusted EBITDA for Q2 2024 was $11.0 million, up from $5.7 million in Q2 2023, reflecting improved operational performance[60] - Life360 expects to achieve positive Operating Cash Flow for each quarter of 2024[51] - Life360 plans to continue being Adjusted EBITDA positive on a quarterly basis going forward, aiming for consistent EBITDA positivity in 2025[51] - Life360 has updated its 2024 earnings guidance, expecting consolidated revenue of $370 million - $378 million, an increase from the previous estimate of $365 million - $370 million[51] - Core subscription revenue is projected to grow by over 25% year-over-year, upgraded from the previous guidance of over 20%[51] - The company anticipates positive Adjusted EBITDA of $36 million - $41 million, up from the previous estimate of $30 million - $35 million[51] User Growth and Engagement - Global monthly active users increased to approximately 70.6 million, a 20% year-over-year growth[4] - Life360's Core Monthly Active Users (MAU) reached 30 million, representing a 489% year-over-year growth[10] - Monthly Active Users (MAU) increased to 70.6 million in Q2 2024, up from 66.4 million in Q1 2024, representing a growth of approximately 3.2 million users[53] - Life360 ranked 4th in the U.S. social networking category on iOS by Daily Active Users (DAUs) as of June 2024[13] - The DAU/MAU ratio for Life360 is approximately 64%, indicating high user engagement compared to major social media platforms[14] - Life360's freemium model has driven significant growth, with 82% of U.S. Paying Circles utilizing the service[23] Market Opportunities and Strategy - Life360's U.S. penetration rate for paying users is approximately 10.1 million, indicating a significant market opportunity[4] - The total addressable market (TAM) for subscription services is estimated at $75 billion, with additional opportunities in pet tracking and item tracking[6] - The company is focused on expanding its product offerings, including roadside assistance and ID theft protection, to enhance user value[7] - Life360 aims to grow its audience and scale paid offerings to create new revenue streams[9] - The company is leveraging powerful network effects to drive long-term growth opportunities[9] - Life360's strategy includes meeting family needs at every life stage to strengthen relationships with members[9] - The acquisition of Tile and Jiobil is expected to enhance Life360's service offerings and market position[7] - Life360 has identified new monetization opportunities from its free user base, targeting B2B data providers and advertisers[28] - Life360's global opportunity for international penetration is significant, with current rates at 2% in the UK and 1% in Canada, projected to grow[15] Revenue Streams and Pricing - The company plans to implement price increases for subscriptions in the U.S. and internationally, enhancing revenue potential[24] - Life360's membership offerings include Silver, Gold, and Platinum tiers, with prices ranging from $0.00 to $24.99 per month[22] - The average revenue per paying circle (ARPPC) increased by 8% year-over-year to $152, driven by triple tier membership launches and price increases[42] - The average revenue per paying subscription (ARPPS) increased to $104.00 in Q2 2024, up from $102.02 in Q1 2024[53] - The company is expanding its advertising revenue stream, with an estimated global mobile advertising spend of $402,000 in 2024[30] Operational Costs and Investments - Total operating expenses on a GAAP basis for Q2 2024 were $66.0 million, compared to $59.0 million in Q2 2023, showing an increase in costs[59] - Research and development expenses on a GAAP basis for Q2 2024 were $27.0 million, up from $23.2 million in Q2 2023, highlighting increased investment in innovation[59] - Stock-based compensation for Q2 2024 was $10.8 million, compared to $9.3 million in Q2 2023, indicating a rise in employee compensation costs[60] - Sales and marketing expenses on a GAAP basis for Q2 2024 were $22.5 million, compared to $21.6 million in Q2 2023, showing a slight increase in marketing efforts[59] - The company incurred IPO-related transaction costs of $5.8 million in Q2 2024, which were not present in Q2 2023, indicating ongoing financial activities related to public offerings[64] - Total general and administrative expenses on a GAAP basis for Q2 2024 were $11.2 million, compared to $59.0 million in Q2 2023, suggesting a significant reduction in administrative costs[59] - The company is focusing on restructuring efforts, with workplace restructuring costs recorded at $1.0 million in Q2 2023, reflecting ongoing adjustments to improve operational efficiency[64] Financial Losses - The company reported a net loss of $11.0 million in Q2 2024, compared to a net loss of $4.4 million in Q2 2023[55] - Q2 2024 net loss was $11.0 million, compared to a net loss of $4.4 million in Q2 2023, indicating a significant increase in losses[60] - Adjusted profit from ordinary activities after tax for Q2 2024 was $7.8 million, compared to $5.4 million in Q2 2023, reflecting better profitability metrics[64]

Financial Performance - Subscription revenue for Q2 2024 reached $65.678 million, a 25% increase from $52.727 million in Q2 2023[145] - Total revenue for Q2 2024 was $84.863 million, up 20% from $70.788 million in Q2 2023[145] - Gross profit for Q2 2024 was $63.626 million, representing a 16% increase compared to $54.783 million in Q2 2023[145] - Net loss for Q2 2024 was $10.964 million, a 148% increase from a net loss of $4.413 million in Q2 2023[145] - Total revenue for the three months ended June 30, 2024, was $84.9 million, representing a $14.1 million, or 20%, increase compared to the same period in 2023[150] - Net loss for the three months ended June 30, 2024, was (13)% of total revenue, compared to (6)% in the same period of 2023[148] Revenue Breakdown - Hardware revenue for Q2 2024 was $11.901 million, a 3% increase from $11.585 million in Q2 2023[145] - Other revenue for Q2 2024 was $7.284 million, a 12% increase from $6.476 million in Q2 2023[145] - Subscription revenue increased by $13.0 million, or 25%, during the three months ended June 30, 2024, primarily due to a 20% growth in total subscriptions and a 25% growth in Paying Circles[150] - Hardware revenue increased by $0.3 million, or 3%, during the three months ended June 30, 2024, primarily due to fewer discounts offered[151] - The company experienced a 12% increase in other revenue during the three months ended June 30, 2024, attributed to a ramp-up of advertising revenue[152] Expenses - Operating expenses for Q2 2024 totaled $65.989 million, a 12% increase from $59.026 million in Q2 2023[145] - Research and development expenses for Q2 2024 were $27.013 million, up 17% from $23.182 million in Q2 2023[145] - Sales and marketing expenses for Q2 2024 were $24.363 million, a 4% increase from $23.347 million in Q2 2023[145] - General and administrative expenses increased by $2.1 million, or 17%, during the three months ended June 30, 2024, primarily due to higher professional and outside services costs[173] - Research and development expenses increased by 22% during the three months ended June 30, 2024, totaling $6.5 million[147] - Sales and marketing expenses increased by $1.0 million, or 4%, during the three months ended June 30, 2024, driven by a $2.1 million increase in commissions to Channel Partners[171] Profitability Metrics - Subscription gross margin decreased to 84% during the three months ended June 30, 2024, down from 88% in the same period of 2023[159] - Hardware gross margin increased to 19% for the six months ended June 30, 2024, up from 16% for the same period in 2023[166] - Average Revenue per Paying Subscription (ARPPS) increased by 6% to $104.00 for the three months ended June 30, 2024, compared to $97.83 for the same period in 2023[187] - Average Revenue per Paying Circle (ARPPC) for the three months ended June 30, 2024, was $125.96, a 6% increase from $119.25 in 2023[193] User Metrics - Monthly Active Users (MAUs) grew by 31% to 70.6 million for the three months ended June 30, 2024, up from 54.0 million in the same period in 2023[187] - Total subscriptions increased by 20% to 2.7 million for the three months ended June 30, 2024, compared to 2.2 million in the same period in 2023[187] - The number of Paying Circles increased to approximately 2.0 million as of June 30, 2024, representing a 25% year-over-year growth from 1.6 million in 2023[191] - Total paid subscribers across Life360, Tile, and Jiobit brands reached approximately 2.7 million as of June 30, 2024, a 20% increase from 2.2 million in 2023[195] Cash Flow and Financial Position - Net cash provided by operating activities for the six months ended June 30, 2024, was $13.9 million, compared to a net cash used of $5.5 million in 2023[209] - As of June 30, 2024, cash and cash equivalents totaled $160.8 million, up from $69.0 million as of December 31, 2023[203] - The company completed its U.S. IPO on June 6, 2024, raising net proceeds of $93.0 million after underwriting discounts and commissions[203] Risks and Regulatory Matters - The company anticipates ongoing regulatory inquiries related to data protection and consumer rights, which may lead to future litigation[228] - The company has not entered into any active hedging arrangements for foreign currency risk, but may consider doing so in the future[220] - The company does not believe inflation has materially affected its business, but significant inflationary pressures could harm its results[222] Internal Controls - As of June 30, 2024, the company's management concluded that its disclosure controls and procedures were effective[224] - There were no changes in internal control over financial reporting that materially affected the company during the three months ended June 30, 2024[225]

10 May 2024 Life360 reports Q1 2024 results San Francisco area-based Life360, Inc. (Life360 or the Company) (ASX: 360) today reported unaudited financial results for the quarter ended March 31, 2024. Life360 Co-founder and Chief Executive Officer Chris Hulls said: "Life360's Q1'24 results showed continued momentum, with net Paying Circles additions nearly doubling to 96 thousand from 54 thousand in Q4'23, achieving a new first quarter record. In addition, our efforts in relation to both our free members and ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________ FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 000-56424 Life360, Inc. (Exact name of registrant as specified in its charter) Delaware 26-0197666 (State or ot ...