Life360 Achieves Record Financial Performance in Q4 2024
Life360 Reports Remarkable Q4 and Full Year 2024 Results
Monthly Active Users Grew to 79.6 Million
Annual Net Additions to Paying Circles Totaled 457 Thousand
Quarterly Revenue Increased 33% Year-Over-Year to $115.5 Million
Annualized Monthly Revenue Reached $367.6 Million
Positive Net Income Achieved in Q4 and Record Adjusted EBITDA of $45.5 Million
Life360, Inc. (NASDAQ: LIF), a leader in family safety and connection, celebrated significant financial milestones as it closed the books for the year ended December 31, 2024. This quarter, Life360 recorded an impressive leap in Monthly Active Users (MAUs), now numbering approximately 79.6 million. The company not only added a substantial 457 thousand Paying Circles but also reported a robust revenue achievement across various segments.
Chris Hulls, Co-founder and CEO of Life360, expressed his pride in the company's accomplishments during the holiday quarter. He highlighted a successful year filled with strategic initiatives, including the launch of an advertising business, enhanced Tile devices, a successful brand campaign, and a significant strategic partnership with Hubble.
As the company looks ahead into 2025, it has set ambitious targets: to increase its MAU base to 150 million and achieve over $1 billion in annual revenue while maintaining an Adjusted EBITDA margin above 35%. "We aim to ensure families remain safe and connected while optimizing our business potential on a global scale," Hulls declared.
Key Financial Metrics for Q4 2024
- Total Quarterly Revenue: $115.5 million, up 33% year-over-year; subscription revenue reached $78.8 million, increasing by 32% YoY.
- Net Income: Positive $8.5 million for Q4, fueled by strong operational results.
- Adjusted EBITDA: $21.2 million, showcasing healthy growth from $8.9 million the previous year.
- Operating Cash Flow: Surged to $12.3 million, a 38% increase YoY.
- Annualized Monthly Revenue (AMR): Increased to $367.6 million, marking a 34% growth from the prior year.
Operational Insights and Future Outlook
- Life360 added 2.8 million MAUs during the fourth quarter, representing a 30% year-over-year increase.
- There was a notable 27% rise in Paying Circle net additions, totaling 2.3 million.
- The Average Revenue Per Paying Circle (ARPPC) improved by 6% YoY, reflecting better product mix and pricing strategies.
- The company anticipates FY 2025 consolidated revenue between $450 million and $480 million, along with positive Adjusted EBITDA between $65 million and $75 million.
Life360’s Strategy for Sustained Growth
Moving forward, Life360 aims to leverage its strong community and customer base, enhancing its offerings and creating additional revenue streams. This includes a focus on the advertising segment, which promises substantial growth while simultaneously fostering new partnerships and market expansions. The company’s commitment to innovation and customer satisfaction remains a cornerstone of its operational strategy.
Life360 is not just about numbers; it’s about connecting people with safety and reliability. As it adapts to changing market conditions and consumer demands, the leadership expresses optimism about the company's capacity for further growth and success in the upcoming years.
Frequently Asked Questions
What achievements did Life360 report for Q4 2024?
Life360 reported 79.6 million MAUs, a 33% revenue increase to $115.5 million, and positive net income of $8.5 million.
How much did Life360's annual revenue grow?
The company's annual revenue reached $371 million, reflecting a 22% increase year-over-year.
What are Life360's targets for 2025?
Life360 aims to achieve 150 million MAUs and over $1 billion in annual revenue.
What is the company's focus moving forward?
Life360 will concentrate on expanding its advertising business and enhancing its product offerings.
How does Life360 plan to achieve its financial goals?
By maintaining a strong operational focus, balancing growth while ensuring profitability, and exploring new revenue opportunities.
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