Life360 Reports Strong CY22 Financial Results

On 17 March 2023, Life360 Inc. (ASX: 360), a family safety app, reported its CY22 financial results with significant year-over-year (YoY) growth. Here are the key points from the company's financial report:

• The CY22 revenue was AU$ 228.3 million, meeting the guidance, and representing a 103% YoY increase.
• The year-end Annualized Monthly Revenue (AMR) (excluding hardware) was AU$ 224.4 million, up by 61%.
• The net loss for CY22 was AU$ 91.6 million, while the Adjusted EBITDA loss was AU$ 40.1 million, both in line with the guidance.
• The year-end cash, cash equivalents, and restricted cash were $90.4 million, meeting the guidance.
• The CY23 guidance forecasts more than 50% YoY growth for core Life360 subscription revenue, with consolidated revenue of AU$300 million - AU$310 million and positive Adjusted EBITDA and Operating Cash Flow of AU$5 million - AU$10 million expected for the full year.

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