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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/life360-unlocks-new-opportunities-with-strategic-partners-302218396.html
SOURCE Life360