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Life360 Stock Plunges 26% Despite Record Revenue As Investors Balk At Unchanged Full-Year Guidance
['Mike Clair']
International Business Times Australia
Life360 reported total revenue of $159.0 million for the second quarter, up 38% year-over-year, alongside adjusted EBITDA of $31.1 million, a 53% increase from the same period a year earlier.
Annualized Monthly Revenue climbed 29% year-over-year to $537.2 million, driven by strong global subscription growth.
Net income fell to $5.1 million from $7 million a year earlier, with profit margins deteriorating even as adjusted metrics improved.
Some analysts had anticipated an upward revision to full-year targets following the strong topline growth, making the unchanged guidance a disappointment relative to expectations heading into the report.
Life360 Chief Executive Officer Lauren Antonoff framed the quarter as a milestone for the company despite the market's negative reaction.