Life360 Inc: Q3 2023 Financial Report Released

Life360 Inc (ASX:360) released its Q3 2023 financial report, showcasing a robust performance. With a total revenue of AU$78.6 million, marking a substantial 38% year-over-year increase, the company saw a surge in core Life360 Subscription revenue, reaching AU$50.6 million, a remarkable 50% increase from the previous year. Notably, the Annualized Monthly Revenue (AMR) rose to AU$259.1 million, up by 41% year-over-year. Despite a net loss of AU$6.5 million, Life360 achieved positive Adjusted EBITDA of AU$5.5 million for the third consecutive quarter and positive Operating Cash Flow (OCF) of AU$4.1 million for the second consecutive quarter.

The company expanded its Global Paying Circles by 17% year-over-year, adding a record-breaking 118 thousand subscribers in Q3, while witnessing a 40% year-over-year increase in U.S. Average Revenue Per Paying Circle (ARPPC) to AU$146.30. Life360 reaffirmed its CY23 guidance, anticipating over 50% YoY growth for core Life360 subscription revenue and consolidated revenue ranging between AU$300 million to AU$310 million. Life360 reconfirmed its CY23 guidance, expecting over 50% YoY growth in core subscription revenue and total revenue in the range of AU$300-310 million. Moreover, their guidance for Positive Adjusted EBITDA was revised upwards to AU$12 million - AU$16 million from AU$9 million - AU$14 million.

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