Members continue to benefit from enhanced user experience in mobile applications
New agreements expand potential for advertising and data monetization
SAN FRANCISCO, Aug. 8, 2024 /PRNewswire/ -- San Francisco area-based Life360, Inc. (Life360 or the Company) (NASDAQ:LIF) (ASX: 360) announced today that it has updated its agreements with partners Arity and Placer.ai (Placer). These partnerships support Life360's pursuit of delivering increasing value to its members through Life360 mobile applications on iOS and Android devices, and also creating and developing new revenue streams.
"We are excited to expand our working relationships with two key partners who enable us to enhance our offering for consumers and to pursue opportunities that create new revenue streams," said Life360 Co-founder and Chief Executive Officer Chris Hulls. "Life360 has worked with Arity to help keep families safe since 2018, and we have worked with Placer since 2022 on improving public safety. These partnerships allow us to invest in premium features and essential services for our members, including crash detection and place alerts, and to contribute to greater road safety."
The updated partnership with Arity expands our working relationship and sets up potential for future advertising pathways. The updated agreement with Placer includes an extended term and continues our aggregated data sales arrangement, with opportunities for increased revenue over time.
Life360 generates indirect revenues from aggregated data sales and through ads within its platform that complement the user experience. The anticipated financial impact for the Arity partnership update was previously included in the Company's outlook for 2024 and demonstrates traction with the new advertising initiatives. The projected financial impact with the updated Placer relationship is incremental to the previous outlook for 2024 with newly expected revenue. Further, the expanded partnerships are projected to contribute incremental revenue in 2025 above what was previously anticipated with the agreements.
The potential impacts of the agreement extensions on Life360's future financial results will be discussed on the Company's earnings conference call with management today, Thursday, August 8, 2024, at 3:00pm PDT. /Friday, August 9, 2024 at 8.00am AEST.
Authorisation
Chris Hulls, Director, Co-Founder and Chief Executive Officer of Life360 authorized this announcement being given to ASX.
About Life360
Life360, a family connection and safety company, keeps people close to the ones they love. The category-leading mobile app and Tile tracking devices empower members to stay connected to the people, pets, and things they care about most, with a range of services, including location sharing, safe driver reports, and crash detection with emergency dispatch. As a remote-first company based in the San Francisco Bay Area, Life360 serves approximately 71 million monthly active users (MAU), as of June 30, 2024, across more than 170 countries. Life360 delivers peace of mind and enhances everyday family life in all the moments that matter, big and small. For more information, please visit life360.com.
Forward-looking statements
This announcement contains certain forward looking statements and comments about future events, including the financial and operating performance of Life360's businesses. Forward looking statements can generally be identified by the use of forward looking words such as, "expect", "anticipate", "likely", "intend", "should", "could", "may", "predict", "plan", "propose", "will", "believe", "forecast", "estimate", "target" and other similar expressions. Indications of, and guidance or outlook on, future earnings or financial position or performance are also forward looking statements. Forward looking statements involve inherent risks and uncertainties, both general and specific, and there is a risk that such predictions, forecasts, projections and other forward looking statements will not be achieved. A number of important factors could cause Life360's actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward looking statements and many of these factors are beyond Life360's control. Forward looking statements are provided as a general guide only, and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainty and other factors, many of which are outside the control of Life360. As such, undue reliance should not be placed on any forward looking statement. Past performance information given in this announcement is given for illustrative purposes only and is not necessarily a guide to future performance and no representation or warranty is made by any person as to the likelihood of achievement or reasonableness of any forward looking statements, forecast financial information or other forecast. Nothing contained in this announcement is to be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of Life360.
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SOURCE Life360