Business
Life360 Reports Record Q2 2024 Results
Monthly Active Users Reached Approximately 71 million for the Quarter Paying Circles Reached Over 2 million with a Record for Global Net Additions Total
About this update from Life360, Inc.
[{"type":"text","content":"Monthly Active Users Reached Approximately 71 million for the Quarter\nPaying Circles Reached Over 2 million with a Record for Global Net Additions\nTotal Revenue Grew 20% Year-Over-Year to $84.9 million \nGuidance Upgraded for Total Revenue and Adjusted EBITDA\nSAN FRANCISCO, Aug. 8, 2024 /PRNewswire/ -- San Francisco area-based Life360, Inc. (Life360 or the Company) (NASDAQ: LIF) (ASX: 360) today reported unaudited financial results for the quarter ended June 30, 2024. The Company achieved record quarterly results in Monthly Active Users (\"MAUs\"), Paying Circles, and Subscription Revenue. Life360 also successfully completed its initial public offering (IPO) in the United States and began trading on the NASDAQ Global Select Market on June 6, 2024.\n\n \n \n \n \n \n \n\n \n\"Q2'24 was excellent for Life360, as we set new records in business and financial performance, and completed our U.S. IPO,\" said Life360 Co-founder and Chief Executive Officer Chris Hulls. \"Our positive results in Q2'24 continued across our strategic growth priorities. First, we grew our free members base by 4.3 million MAUs and reached 70.6 million overall. Next, we increased net Paying Circles by 132 thousand in Q2'24 compared to the 96 thousand increase in Q1'24, a new quarterly record for global net additions. Our focus on international growth also contributed significantly to our performance, as we grew our international MAUs by 48% YoY and our international Paying Circles by 42% YoY. We believe that we are very early on in penetrating our global market opportunity, and that we have significant headroom to grow as we expand to new regions, and launch new safety, connection, and location features that make everyday family life better throughout all life stages.\"\n\"We also continue to make excellent progress in creating new revenue streams from our existing member base,\" continued Hulls. \"Earlier this year, we launched a new advertising offering, which is now live for U.S. members, and available soon globally. Importantly, we are focused on providing our members with contextually relevant ads that enhance their user experience by leveraging our extensive first-party location data.\" Hulls further elaborated, \"Following the rapid development of our programmatic ad capability, and positive signals in early testing with both users and advertisers, w...