Life360 reported CY 2023 results with significant user growth and financial improvements.
Over 61 million monthly active users globally.
Achieved first full year of positive Adjusted EBITDA and Operating Cash Flow.
Revenue of $305 million, a 33% YoY increase.
Core Life360 subscription revenue of $200 million, up 52% YoY.
Net loss reduced to $28.2 million, a $63.5 million improvement from CY22.
Positive Operating Cash Flow of $7.5 million, a $64.6 million improvement versus CY22.
Global Monthly Active Users (MAU) grew by nearly 13 million or 26% to 61.4 million.
International MAU grew by 7 million, or 40% YoY to 24.6 million.
Global Paying Circles grew to 1.8 million, up 21% YoY.
S. Average Revenue Per Paying Circle (ARPPC) increased 32% YoY.
Announced creation of a new advertising revenue stream for CY24.
CY24 guidance: Consolidated revenue of $365-$375 million; Adjusted EBITDA of $30 million - $35 million.
Adjusted EBITDA and EBITDA are non-GAAP measures used for evaluating performance.
This announcement is a summary of the company approved ASX announcement on 1/3/2024.