AUS
NZ
UK
CA
USA
IND
Highlights
- Shares of Life360 have been put on a trading halt today (21 November), pending the proposed capital raising outcome announcement.
- Life360’s share price dropped by 2.746% as of 2:35 PM AEDT.
- During Q3 FY22, the company’s revenue witnessed a 92% increase.
As per an ASX announcement on 21 November 2022, shares of Life360, Inc. (ASX:360) were put on a trading halt in connection with the outcome of a proposed capital raising. Life360 has asked for immediate adoption of a trading halt in its CDIs (CHESS Depository Interests).
The trading halt will start today (21 November 2022) and is expected to end on 23 November 2022 or when Life360 publishes the capital raising announcement on the ASX, as stated in today’s (21 November) release.
Share performance of Life360
Following the trading halt update, shares of Life360 were trading 2.746% lower at AU$6.73 apiece as of 2:35 PM AEDT, 21 November.
However, in the last five trading sessions, Life360’s share price has gained 0.45% and 0.15% in a month. On a year-to-date (YTD) basis, the value of Life360’s shares has increased by 2.75% and 0.74% over the previous six months.
What else has been happening at Life360?
Last week on 15 November 2021, Life360 shared the results of its Q3 FY22; below are the key takeaways from the ASX report:
- For the quarter ended on 30 September 2022, Life360’s global monthly active users number increased to 47 million, an increase of 39% year-over-year (YoY). The company mentions this as the largest-ever quarterly growth in global MAU of over 5 million, including record net additions in the US as well as the international markets.
- The US MAU increased by 32% YoY, while the international markets saw a boost of 52%.
- The company’s paying circles witnessed solid momentum during Q3, increasing 36% YoY. The increase in the US paying circles saw a jump of 32% YoY.
- Life360’s subscription revenue for the third quarter of FY22 increased by 70% YoY, including operations of Tile and Jiobit.
- The driving forces behind this significant revenue increase were ongoing growth (48% YoY) in paying circles as well as improved average revenue per paying circle (7%).
- The company witnessed a 92% consolidated revenue growth of US$57.2 million in Q3 FY22.
- The average revenue per paying circle (ARPPC) elevated by 47% for the new US subscribers during October 2022.
- San Francisco-based business anticipates its FY22 year-end annualised monthly revenue to go above US$215 million.
- During Q3 FY22, the company’s adjusted EBITDA saw a decrease of US$9.4 million compared to US$18.7 million in Q2.
- Life360 ended the third quarter of FY22 with cash, cash equivalents, and restricted cash of US$58.9 million.
In a statement, Chris Hulls, CEO of Life360, Inc. said:
Image Source: © 2022 Kalkine Media ®
Data Source: Company announcement dated 15 November 2022
