Life360, Inc. Reports Strong Q3 2024 Results

Life360, Inc. ( (LIF) ) has released its Q3 earnings. Here is a breakdown of the information Life360, Inc. presented to its investors.

Life360, Inc., based in San Francisco, is a family connection and safety company providing a mobile application and tracking devices to help users stay connected and safe. The company operates primarily in the technology sector, offering unique features like location sharing and emergency services.

In its Q3 2024 earnings report, Life360 announced record results, with significant increases in monthly active users (MAUs) and paying subscribers. The company reported a total revenue growth of 18% year-over-year, reaching $92.9 million, and an annualized monthly revenue increase of 30% to $336.2 million. Life360 also raised its outlook for adjusted EBITDA for the year.

Key highlights from the report include a 32% year-over-year growth in MAUs, reaching approximately 76.9 million, and a record net addition of 159 thousand paying circles, totaling nearly 2.2 million. The company also noted a 53% increase in average revenue per paying circle in international markets, driven by strategic updates to its pricing models. Despite some challenges with the launch of new Tile devices, including supply chain issues, Life360 remains optimistic about future sales, especially during the upcoming Black Friday season.

Life360’s leadership remains confident in its long-term strategy, emphasizing the potential of its advertising and data partnerships, such as the collaboration with Uber and Placer.ai, to drive future growth. The company is also planning to expand its hardware offerings with new products expected in the coming years.

Looking ahead, Life360 aims to maintain its growth trajectory, focusing on increasing subscriptions and exploring new revenue streams. Management projects continued positive adjusted EBITDA and expects to achieve positive EBITDA by 2025, reflecting a balanced approach to growth and profitability.