Slide 1: For personal use only
For personal use only
Slide 2: Disclaimer
Disclaimer ‘This document dated 24 February 2022 has been prepared by Life360, Inc. (ARBN 629 412 942) (Company) and is provided for information purposes only. It contains summary informat the date of this document. It should be read i n about the Company and its activities and is current as at conj
Slide 3: Agenda
Agenda Business and Strategy Update Chris Hulls, Co-Founder and CEO Financial Overview Russell Burke, CFO. Outlook Chris Hulls, Co-Founder and CEO Q&A Chris Hulls and Russell Burke Appendix 1. Operating metrics 2. Life360 Membership offering Note : Alll references in this presentation to $ are to US
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Slide 6: CY21 User Highlights
CY21 User Highlights Connecting families and saving lives ZN By ‘al a @ lites6o 2,577,143 Help alerts sent E360 151,647,395,851 Miles driven with Life360 Crash Detection 19,953 Ambulances dispatched 17,558,144,800 Safe arrival notifications 17,969,328 Jiobit safe arrival notifications 66 | have been
Slide 7: Strong CY21 financial performance
Strong CY21 financial performance Strong revenue growth driven by Direct revenue* ($M) Investing for growth** ($M) 1.0 Direct mindirect Hardware 251 22.2 = Other costs mUser Acquisition & TV 48 86.5 Commissions 59.4 OAD 441 Cost of revenue cy19 cyY20 cy21 cyi9 cyY20 cy21 EBITDA Loss reflects growth
Slide 8: Accelerating revenue growth post COVID-19
Accelerating revenue growth post COVID-19 AMR has more than doubled since the IPO in May 2019 Quarterly Revenue* ($M) Quarterly Annualised Monthly Revenue ($M) 40.0 Direct mIndirect = Hardware or) a 140.0 30.0 120.0 22 100.0 20.0 80.0 15.0 60.0 10.0 40.0 5.0 | | 20.0 oo www ee ll a PLL ekeEEEbEeewer
Slide 9: Global MAU reaching new peak
Global MAU reaching new peak Year-on-year growth of 34% Monthly Active Users (MAU)(M) International MAU (M) - Key Territories 2021 Q1 to Q4 TikTok surge. 10.9) 89 95 10.4] 85 7 5.4 16.39 16.3 7.0 47 127 3 8 77 27 e320 2 TH16 2H16 IHI7 2H17_ 1HI8 2HI8 1HI9 2HI9 1H20 2H20 1H21 2H21 2021Q1 2021 Q2 2021
Slide 10: Direct Revenue
Direct Revenue Year-on-year increase of 48% Direct revenue* ($M) Direct revenue as a % revenue (CY21) Hardware — $im BUS fm International Indirect 74 68 77.2 37.4 ne International Usieliesi™ Direct cy19 cyY20 cy2i *CY20 revenue is normalised revenue excluding non-recurring adjustment. Direct revenue
Slide 11: Accelerating Paying Circle growth
Accelerating Paying Circle growth Paying Circle acceleration combining with higher ARPPC to drive Direct Revenue Paying Circles by product line (000s) Average Revenue Per Paying Circle (ARPPC) ($) US ====International $96 mLegacy Driver Protect mLegacy Plus/Other na = Membership New cohort Membershi
Slide 12: Accelerating Paying Circle net additions
Accelerating Paying Circle net additions Increasing conversion despite low levels of marketing spend Recovering US registrations + Improving conversion == Accelerating Paying Circle net additions 000s lo 9 C#VID-19 fe) c#VID-19 a 70 50 30 i" [ e | ll Q120 Q220 320 Q420 QI21 Q221 Q321 Q421 Q120 Q220
Slide 13: Indirect Revenue
Indirect Revenue Year-on-year increase of 13% Indirect revenue ($M) 25 2.0 ss 20.2 22.6 14.5 cy19 cyY20 cy2i US alnternational * US Direct revenue includes $2.3m (1.5%) of Jiobit subscription revenue @ lites6o Indirect revenue as a % revenue (CY21) Hardware Indirect International Direct $im US Direc
Slide 14: Data and Lead generation
Data Data revenue increased YoY, with performance ahead of expectations in light of changes to Identifier for Advertisers (IDFA) usage guidelines New partnership with Placer.ai in January 2022 to transition Life360 solely to sales of aggregated insights. Minimum revenue guarantee based on the size o
Slide 15: Jiobit
Jiobit Delivering subscriber growth momentum despite supply constraints Jiobit total subscriptions up 43% YoY 40,000 35,000 30,000 CITES C&vID-19 20,000 15,000 10,000 5,000 ° 2H19 1H20 *Source: Jiobit from 2H 19 to 1H 21, Life360 from 2H 21 @ lites6o 2H 20 1H21 2H 21 0.5 0.0 Jiobit subscription ARR*
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For personal use only
Slide 17: 2021 successfully delivered against our strategic objectives
2021 successfully delivered against our strategic objectives +9 5) LJ Build Grow Build a large user base Grow Membership 35 million+ Monthly Active Users 1.2m+ Paying Circles New brand campaign and new UA channels Three consecutive quarters of record New free features to improve Paying Circle additi
Slide 18: Tile and Jiobit dramatically expand use cases and TAM
Tile and Jiobit dramatically expand use cases and TAM Improved conversion >Increased ARPPC >Higher retention Everyday Families with college kids © Life360 Aging parents Furry companions My Circle Important things Rover Neor Fist Ave NE 908 Since 312 pm Families with children Biobit C21 Results Febru
Slide 19: 2022 Priorities: Integrate Tile and Jiobit
2022 Priorities Integrate Tile and Jiobit - drive higher Membership growth and conversion rates Find your fomily’s things in Life360! ae Upgrade to gold and free Tiles -> Get a free Tile Slim and Mate with Platinum membership C8 * > Fa Tile is the #1 item tracker for finding and protecting your impo
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Slide 21: 2022 Priorities: Enhance free user experience
2022 Priorities Enhance free user experience: build engagement, resulting in improved conversion to paid Quick messages Family map Fast and easy communication Emotionally engaging experience Johnson Family » Soran =e Noch so + tos esencol ka Noah ser ou Noor W gowles Avenue Since 52 am yesterdoy sor
Slide 22: 2022 Priorities: Membership 2.0
2022 Priorities Membership 2.0 - expanded offering to drive upsell and ARPPC Driver tab 2.0 Expands driving features Latishajust had aperec rive = Nonardrate, phone see, =p 2cceeaion oF igh aed evens nee Setected ents dive Tap 0s congrats 12. 20m 0t8244M @ lites6o Reinforce value Welcome kit, in-app
Slide 23: 2022 Priorities: Expand Membership into new geographies
2022 Priorities Expand Membership offering into new geographies International feature parity International Membership Free crash detection Canada 2021 launch metrics 9:41 ae * Enhance free user experience (x) (=) Increase in ARPPC for and develop feature parity in key markets new Membership sign- >1
Slide 24: 2022 Priorities: Scale profitable marketing spend
2022 Priorities Scale profitable marketing spend Drive increased brand awareness and perception to grow paid registrations * Focus on streaming TV spend which maintains efficiency through high level targeting and brand campaigns which incorporate linear TV and out- of-home during peak season * Scale
Slide 25: ESG: Life360 Core Values are Family Safety and Security
ESG : Life360 Core Values are Family Safety and Security For personal use only Employees - Safety and wellbeing + Development & Training + Grievances and impact + Diversity Governance Environment + Business ethics + Anti-corruption + IP protection - ESG performance disclosure + Product Sustainabilit
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Slide 27: Market leading retention metrics
Market leading retention metrics US Organic User Retention Relative retention by cohort (% total) Month 1 user retention over time + Line chart indicates how long users Mar-17 Mar-18 —Mar-19 a . rae eet) heel cay within a given cohort remain with Life360. Significant uplift in 100% 70% retention of
Slide 28: Unit Economics: cohort revenue uplift
Unit Economics Significant uplift in cohort revenue in the first full month $M Quarter 1 2 1018 1019 1020 Quarter 3 3QI7 sais 3ar9 3020 1021 3a21 Quarter 2 2 2017 2018 2a19 2020 Quarter 4 | [| al q 4017 4a18 4a19 4Q20 2021 4021 * Significant uplift in conversion to paid, and larger user cohorts emer
Slide 29: Unit Economics: User cohort cumulative revenue
Unit Economics User cohort cumulative revenue $M* Quarter 1 Quarter 2 25 25 20 20 18 18 10 10 5 > ° 0 ZPSEPPSSESESSPTESTETEZEZE SSPZSFSSESEEETEERZEZE SSSFRSSERRSRSSEREEE SSSFRSSETRSSSRSGEEE SR S88 2938308 SRSSEBUL RSE 1018 1a19 1020 1021 2017 2018 2a19 2Q20 2Q21 Quarter 3 Quarter 4 25 25 20 20 18 16
Slide 30: Unit Economics: Net subscription revenue retention
Unit Economics Net subscription revenue retention exceeds 100% The strength of Life360's freemium model is reflected in net subscription revenue retention exceeding 100%. This is supported by success in driving free users to paid Net Revenue Retention - Subscription (vs Previous Half)* 120% subscrip
Slide 31: Unit Economics: US ARPPC uplift
Unit Economics Significant US ARPPC uplift from the launch of membership with significant room for growth $130 $120 —__ sno $100 $90 $80 $70 $60 $50 $40 OM 3M 6M 9M 12M 15M 18M 21M. 24M 27M 30M 33M 36M 39M 42M 45M 48M SIM 54M 1018 2018 3Q18 4Qi8 1019 2Q19 3al9 ——4alo 1020 220 3Q20 4Q20 1921 2021 302
Slide 32: Unit Economics: Marketing payback
Unit Economics Marketing payback $M Quarter 1 oma IM 18M 21M 24M 27M 30M 33M 36M 39M (5) (10) 1018 1019 1020 | 1021 Quarter 3 10 5 ° $Me=9M-12M 15M 18M 21M 24M 27M 30M 33M 36M 39M ©) mm @o) 3018 sal ———sa20 | 3021 @ lites6o Quarter 2 10 ° ioe 21M 24M 27M 30M 33M 36M 39M (6) (10) 2018 2019 eee 2020 2
Slide 33: Income statement summary
U.S. revenue Direct 511 77.2 51% Indirect 20.2 22.6 12% International revenue Direct 7A 9.3 26% Indirect 2.0 25 25% Hardware - 1.0 NM Total revenue 80.7 112.6 40% Cost of Revenue (15.0) (22.2) 48% Stock Based Compensation (0.4) (0.8) 25% Total cost of revenue (15.4) (22.7) 47% Gross Profit 65.3 89.9
Slide 34: Balance Sheet Commentary
Balance Sheet Commentary Statutory Statutory e Cash and cash equivalents increased to $231.0 SM Dec 2020 Dec 2021 million reflecting proceeds from the Tile capital Cash and cash equivalents 56.4 231.0 fel, ‘ raising Accounts receivable 9.0 ns Costs capitalised to obtain revenue contracts, net 3.4 13
Slide 35: Cash Flow Commentary
Cash Flow Commentary oh C¥20) vz) e Net cash outflows from operating activities Statutory EBITDA (pre user acquisition) (9.3) (24.3) increased by $4.9m reflecting investment to grow the User acquisition costs (6.7) (7.1) business Statutory EBITDA (16.0) (31.4) Stock-based compensation 81 no e Net ca
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Slide 37: Outlook
Outlook y | use onl For persona Due to potential implications under U.S. federal securities laws, we are not currently able to provide specific guidance for CY22 After a strong CY21 performance we are confident in our ability to drive continued growth, in particular in our core Life360 subscription
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Slide 40: 1. Operating Metrics (Core Life360)
1. Operating Metrics (Core Life360) CY20 HI cy19 cy21 Monthly Active Users (millions) U.S. 12.7 16.3 20.3 16.3 7.0 23.7 International 10.4 89 12.1 10.9 95 1.8 Total 23.1 25.2 32.3 27.2 26.5 35.5 Paying Circles (millions) U.S. 0.55 0.67 0.82 0.65 0.72 1.01 International 0.16 0.17 0.19 0.18 0.17 0.23
Slide 41: 2. Life360 Membership offering
SILVER MEMBERSHIP $4.99/mo Try 7 days free Digital Safety v_ Data Breach Alerts Plus: Location Safety ing Safety 2. Life360 Membership offering Membership tiers MOST POPULAR GOLD MEMBERSHIP > $9.99/mo Digital Safety v_ Data Breach Alerts v ID Theft Protection Y $25k Stolen Funds Reimbursement Plus: