Q4 2023 Life360 Inc Earnings Call Transcript
Key Points
- Life360 Inc (ASX:360) achieved its first full year of positive adjusted EBITDA and operating cash flow.
- The company saw a 26% year-over-year increase in monthly active users (MAU) to over 61 million.
- International growth was particularly strong, with a 40% year-over-year increase in MAU.
- Life360 Inc (ASX:360) reported a 33% year-over-year increase in revenue.
- Core subscription revenue grew by 52% year-over-year, driving consolidated subscription revenue growth of 44%.
- Despite the positive EBITDA, Life360 Inc (ASX:360) still reported a net loss of $28.2 million.
- GAAP operating expenses increased by 4% year-over-year.
- The company experienced a one-time spike in churn due to price increases for legacy customers.
- There was a modest year-on-year decline in other revenue, reflecting the transition to a single data partnership.
- The advertising strategy is still in its early stages, with significant setup costs expected to impact short-term profitability.
(audio in progress) Q4 and full-year results conference call. This is Jolanta Masojada and I head up Investor Relations for Life360. This call is being conducted as a Zoom audio webinar. (Operator Instructions)
Just a reminder that we'll be making forward-looking statements regarding future events and financial performance, which are subject to material risks and uncertainties. Some of these risks have been set forth in the risk factors in our filings with the ASX and SEC.
These forward-looking statements are based on assumptions that we believe to be reasonable as of today, and we have no obligation to update these statements as a result of new information or future events. Additionally, we will present both GAAP and non-GAAP financial measures on today's call. These non-GAAP measures are not intended to be considered in isolation from, a substitute for or superior to our GAAP results.
The agenda for this morning's call, we will begin with a business overview by Co-Founder and CEO, Chris Hulls; and CFO, Russell Burke. This
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