Life360, the tracking provider, successfully decreased its annual loss with a 33% surge in annual revenue. The company foresees generating additional income in 2024 by enabling advertisers to target its users.

Financial Performance

Positive Adjusted Performance

On an adjusted basis, Life360 reported a profit of $21.9 million and earnings before interest, tax, depreciation, and amortization of $20.6 million. This marked the first time the company achieved positive annual adjusted EBITDA, according to Chief Executive Chris Hulls.

Future Outlook

In 2024, Life360 plans to introduce partner advertising to users. Despite expected set-up costs in the first half of the year, the company anticipates a modest revenue contribution in the second half. Chris Hulls highlighted the success of early testing and emphasized delivering an attractive platform to advertisers while maintaining a great user experience.

Life360 did not declare a dividend and projects consolidated revenue in 2024 to fall between $365 million and $375 million. Adjusted earnings before interest, tax, depreciation, and amortization are estimated to range from $30 million to $35 million. Additionally, the company expects a statutory EBITDA loss between $8 million and $13 million, aiming to report positive EBITDA in the first half of 2025.

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