Life360, Inc. · NASDAQ:LIF
Life360 — Goldman Sachs TechNet Conference Asia Pacific 2023
29 slides from Life360's conference presentation, May 26, 2023
Slide 1: Investor Presentation: Goldman Sachs TechNet Conference Asia Pacific
e Investor Presentation «© Goldman Sachs TechNet Conference Asia Pacific May 2023 @© Life360
Slide 2: Disclaimer
Disclaimer This document dated 25 May 2023 has been prepared by Life360, Inc. (ARBN 629 412 942) (Company) and is provided for information purposes only. it contains summary information ‘about the Company and its activities ond is current as at the date of this document. It should be read in conjunc
Slide 3: Agenda: Business & Strategy Overview, Financial Overview, Q&A
Russell Burke Chief Financial Officer O1 Business & Strategy Overview 02 Financial Overview Q&A
Slide 4: Business & Strategy Overview
Slide 5: Why We Exist
WHY WE EXIST Life360 is on a mission to simplify safety so families can live fully Safety and security is a multi-billion dollar category and the incumbents have not adapted to the needs of digitally native consumers. Life360 is taking a mobile and family first approach to disrupt the market. with F
Slide 6: Significant market opportunity
BUSINESS & STRATEGY OVERVIEW Significant market opportunity . Adjacent Markets Adjacent Potential long-term adjacent markets in which markets we can expand our addressable market: travel insurance, life insurance, residential security, home insurance $190bn ——— Total addressable market TAM Includes
Slide 7: Investment Thesis
Life360 Investment Thesis Unique Positioning Multiple Growth Vectors Value Creation * Competitive moat * Demographic tailwinds from + Durable recurring revenue established from scale and digitally native families model driving consistent growth platform investment * Early penetration with + Reaching
Slide 8: CY22 User Highlights
CY22 USER HIGHLIGHTS Connecting families and saving lives LZ Miles driven with Life360 Crash Detection 2,145,532 34,461 Help alerts sent Ambulances dispatched 6) 223 Billion 700 Billion Tile Bluetooth location updates ea Vv 26 Billion Safe arrival notifications Q 17 Million Tile “items left behind”
Slide 9: Life360's Timeline
LIFE 360’S TIMELINE 15+ years of investment and innovation Timeline of key developments 4 ‘ ‘ Year Founded January: Apr May: July: September: January: The firstfunding _12Million MAU SKIP Life360 ‘Acquisition Acquisition for Life360 - Membership of Jiobit ofTile $275,000 grant launch ti 8 0 winner o
Slide 10: Competition landscape for Life360 subscription
LIFE 360 SUBSCRIPTION Competition landscape for Life360 subscription Direct dinatior @itreseo tation | Moy 202310
Slide 11: Membership
MEMBERSHIP Expanding and deepening our relationship with families through Membership At IPO May 2019 Current Membership Bundles $0.00/mo $2.99/mo $7.99/mo LG fy ¥ a" bh PANO TOR FEliesi Fortes win Praieshin “Sttmory Mala Teollege kids nesters | \agmmparents Families with | Familiogwith teens — | Eol
Slide 12: Life360, Tile and Jiobit Integrated Offering
LIFE360, TILE AND JOIBIT INTEGRATED OFFERING Expanded addressable market and brand reach Com pleting our ‘360’ vision + Bundled offering will have broader applicability to additional demographics of protecting people, pets + Long-term this opens up additional markets such as elder care . a nd th I n
Slide 13: Strategy Update: Our flywheel
STRATEGY UPDATE Our flywheel is driving our accelerating growth + 50m+ MAUs + 1.6m Paying Circles Market + Top 5 social networking Position app Entrenched + 1-in-10 Families use Life360 + High brand awareness . Robust 7 + User acquisition + Membership + Brand campaigns Reinvestment Monetization + Bu
Slide 14: 2023 Key Initiatives
STRATEGY UPDATE 2023 Key Initiatives Invest in Drive Expand the Core Membership internationally I] Uso 01 botén $08 de tte960 st ‘note sientos seguro Amazing user Bundled Tile Launch in the UK experience drives hardware drives provides a base for engagement and improved conversion European expansion
Slide 15: Expand internationally
STRATEGY UPDATE Expand internationally Establish a beachhead for international expansion ircles (Australia, Canada, UK) +172% Enhance global core features to improve International launch of triple the international user experience tier Membership Usa el botén SOS de Life360 si note siontes seguro +
Slide 16: ESG: Progressing Our Sustainability Journey in CY22
ESG : PROGRESSING OUR SUSTAINABILITY JOURNEY IN CY22 Life360 Core Values are Family Safety and Security je) fe + Our Values: Refreshed values following the acquisitions of Tile and Jiobit + Culture: Established a new approach to create a culture of belonging + People and talent training: Launched a
Slide 17: Financial Overview
Slide 18: Q1'23 Results Summary
Q1’23 RESULTS SUMMARY Delivering on growth $M Qr22 ar23 %chYoY _CY22Result CY23 Guidance Revenue Subscription 33.1 517 +56% 153.3 Hardware 96 10.0 +3% 479° Other 83 65 -21% 271 Total revenue 51.0 68.1 +34% 228.3 300-310 Annualized Monthly Revenue (AMR) (excluding Hardware) 166.1 239.5 +44% 224.4 - A
Slide 19: Global MAU Reaching New Heights with Strong Retention
GLOBAL MAU REACHING NEW HEIGHTS WITH STRONG RETENTION Q1’23 year-on-year growth of 33% Life360 Core Monthly Active Users (MAU)(M) Life360 Core Returning Monthly Active Users by cohort (RMAU)*(M) 26% #0 U.S. MAU growth 8 ho i 8 RMAU strength 44% reflects increasing International 35 engagement MAU gro
Slide 20: Paying Circle Growth and Accelerating ARPPC Growth
PAYING CIRCLE GROWTH AND ACCELERATING ARPPC GROWTH Price increase accelerating ARPPC uplift Paying Circles by geography (000s)* Average Revenue Per Paying Circle (ARPPC) ($) Q Q US Paying Circles QN'23 ARPPC increased increased 43% YoY 15% YoY while raising for US subscribers prices significantly 10
Slide 21: Net subscription revenue retention above 100%
FINANCIAL OVERVIEW Net subscription revenue retention above 100% even as absolute growth in subscribers accelerates Net Revenue Retention - Subscription (vs Previous Half)* 120% 100% 80% 60% 40% 2HI8 qHI9 2H19 1H20 2H20 1H21 2H21 1H22 2H22 mmm Net revenue retention (%) —==Gross subscriber adds (000s
Slide 22: Accelerating Subscription Revenue Growth
ACCELERATING SUBSCRIPTION REVENUE GROWTH AMR has more than tripled since our IPO in May 2019 Quarterly Recurring Revenue ($M)* 70 60 +41% YoY growth in 50: recurring revenue 40 30 20 2geeornepeesnseos eegeeasseaseoggg 3020 4020 1 202) 302 40) ga ge gg 8g g g Quarterly Annualized Monthly Revenue ($M)
Slide 23: Pathway to profitability
FINANCIAL OVERVIEW Pathway to profitability Oe Revenue and Cost history and outlook Full year of price increases and cost efficiencies Positive Adjusted EBITDA* & Profitability ‘operating cash flow expected from targets CY23Q2 and for CY23 year + Full year subscriber revenue uplift from U.S. price i
Slide 24: Outlook
Outlook For CY23, Life360 expects to deliver: * Core Life360 subscription revenue growth (excluding Tile and Jiobit) in excess of 50% YoY; * Hardware revenue growth of 0% to 5%; / * Other revenue of approximately $26 million; f * Consolidated revenue of $300 million - $310 million; + Positive Adjust
Slide 25: Q&A
Slide 26: Thank you
Slide 27: Appendix
Slide 28: Membership benefits in every plan
APPENDIX 1 Membership benefits in every plan FREE MEMBERSHIP $0.00/mo oing Y 2doys of Location History 2 places with unlimited Place Alerts / SOS Help Alert ¥ Crash Detection Y Family Driving Summary / Date breach alerts @titesoo eves nanisansae $799/mo ie Y 7 days of Location History Y places with
Slide 29: Non-GAAP Financial Measures
APPENDIX 2 Non-GAAP Financial Measures Net loss $ (1407) = $ (25,222) ‘Add (deduct): Convertible notes fair value adjustment (72) (1.575) Derivative liability fair value adjustment (4) (914) Provision (benefit) for income taxes 108 (68) Depreciation and amortization ® 2,273 2,201 Other (income) expe
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