Q2 2024 Life360 Inc Earnings Call Transcript
Key Points
- Life360 Inc (ASX:360) achieved a 31% year-on-year increase in monthly active users, reaching 70.6 million.
- The company saw a significant increase in net paying circles, with a record addition of 132,000 in Q2.
- International growth was strong, with international MAUs up 48% and international paying circles up 42% year over year.
- Revenue from the UK and New Zealand increased by 76% and 69% year over year, respectively.
- Life360 Inc (ASX:360) reported positive adjusted EBITDA for the seventh consecutive quarter, increasing to $11 million from $5.7 million in the prior year.
- Q2 gross margin decreased slightly to 75% from 77% in the prior year.
- The company reported a net loss of $11 million, up from $4.4 million in the prior year, due to IPO-related costs and higher income tax expenses.
- Operating expenses increased by 12%, with R&D costs up 17% and general and administrative expenses up 17% year on year.
- Life360 Inc (ASX:360) anticipates a seasonal increase in expenses in Q3, impacting EBITDA and adjusted EBITDA.
- The company faces potential risks from recessionary pressures at retail for hardware and managing seasonal hardware inventory.
Greetings, everyone, and welcome to our second quarter 2024 earnings conference call. This call is being conducted as a Zoom audio webinar. (Event Instructions) As a reminder, we will be making forward-looking statements regarding future events and potential financial performance during this call, which are subject to material risks and uncertainties that can cause actual results to differ materially from such statements.
A summary of these risks may be found in the risk factors section in our Form 10-Q filing with the ASX and the SEC dated August 8, 2024. These forward-looking statements are based on assumptions that we believe to be reasonable as of today's date, August 8, 2024, and we have no obligation to update these statements as a result of new information or future events except from required by law.
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 and
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
