All references to $ are to U.S.dollars. Condensed Consolidated Statements of Cash Flows(Dollars in U.S.$, in thousands)(unaudited) Three Months Ended March 31, 2025 2024 Cash Flows from Operating Activities: Net income (loss)$ 4,378 $ (9,777)Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 2,862 2,295 Amortization of costs capitalized to obtain contracts 283 341 Amortization of operating lease right-of-use asset 84 81 Stock-based compensation expense, net of amounts capitalized 9,889 8,261 Non-cash interest expense, net — 128 Convertible notes fair value adjustment — 608 Derivative liability fair value adjustment — 1,707 Non-cash revenue from investments (367) (446)Provision for credit losses 339 — Changes in operating assets and liabilities, net of acquisition: Accounts receivable, net 5,648 5,144 Prepaid expenses and other assets (4,238) 3,272 Inventory (1,514) (2,239)Costs capitalized to obtain contracts, net (314) (398)Accounts payable (139) 3,492 Accrued expenses and other current liabilities (6,526) (3,073)Deferred revenue 1,771 1,381 Other liabilities, noncurrent (96) (89)Net cash provided by operating activities 12,060 10,688 Cash Flows from Investing Activities: Cash paid for acquisition (2,825) — Internally developed software (1,398) (1,089)Purchase of property and equipment (124) — Net cash used in investing activities (4,347) (1,089)Cash Flows from Financing Activities: Proceeds related to tax withholdings on restricted stock settlements and the exercise of stock options and warrants 12,770 2,401 Taxes paid related to net settlement of equity awards (10,587) (8,110)Net cash provided by (used in) financing activities 2,183 (5,709)Net Increase in Cash, Cash Equivalents, and Restricted Cash 9,896 3,890 Cash, Cash Equivalents and Restricted Cash at the Beginning of the Period 160,459 70,713 Cash, Cash Equivalents, and Restricted Cash at the End of the Period$ 170,355 $ 74,603 Note: The financial information in this announcement may not add or recalculate due to rounding.
These forward-looking statements regarding Life360’s intentions, objectives, plans, expectations, assumptions and beliefs about future events, including Life360’s expectations with respect to the financial and operating performance of its business, including subscription revenue, hardware revenue, other revenue and consolidated revenue and ability to create new revenue streams; the resiliency of Life360’s core subscription business; the ability of Life360 to adapt to and mitigate the impact of macroeconomic considerations including tariffs and trade barriers; its ability to deliver contextually relevant advertisements that enhance the user experience by leveraging its extensive first-party location data; Adjusted EBITDA, and operating cash flow; expectations regarding MAUs and other member metrics; its capital position; future growth and market opportunities; plans to launch new features and products; the impact of price increases and expansion of product offerings in the UK, Australia and New Zealand on future results of operations; its expectations of growth in its data business; its expectation of a new enterprise revenue stream and enhanced location capabilities of its hardware devices as a result of its partnership with Hubble; its focus on developing a GPS lineup, built on Jiobit technology, the timing of new devices, and the potential for the next generation of hardware to drive a new wave of subscription growth; as well as Life360’s expectations of any changes to the information disclosed herein.
All references to $ are to U.S.dollars. Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)(Dollars in U.S.$, in thousands, except share and per share data)(unaudited) Three Months Ended March 31, 2025 2024 Subscription revenue$ 81,874 $ 61,579 Hardware revenue 8,907 10,188 Other revenue 12,843 6,460 Total revenue 103,624 78,227 Cost of subscription revenue 10,141 9,315 Cost of hardware revenue 8,597 8,012 Cost of other revenue 1,337 887 Total cost of revenue 20,075 18,214 Gross profit 83,549 60,013 Operating expenses: Research and development 30,403 27,258 Sales and marketing 35,308 24,733 General and administrative 15,649 14,401 Total operating expenses 81,360 66,392 Income (loss) from operations 2,189 (6,379)Other income (expense): Convertible notes fair value adjustment — (608)Derivative liability fair value adjustment — (1,707)Other income, net 1,975 311 Total other income (expense), net 1,975 (2,004)Income (loss) before income taxes 4,164 (8,383)Provision for (benefit from) income taxes (214) 1,394 Net income (loss) 4,378 — (9,777)Net income (loss) per share, basic$ 0.06 (0.14)Net income (loss) per share, diluted 0.05 (0.14)Weighted-average shares used in computing net income (loss) per share, basic 75,699,493 68,535,626 Weighted-average shares used in computing net income (loss) per share, diluted 83,445,337 68,535,626 Comprehensive income (loss) Net income (loss) 4,378 (9,777)Change in foreign currency translation adjustment 1 1 Total comprehensive income (loss)$ 4,379 $ (9,776) Note: The financial information in this announcement may not add or recalculate due to rounding.
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