360 -29.4%: family tracking and safety business Life360 saw shares fall to a 2 year low today after halting plans for a dual listing in the US and providing soft guidance for the full year. Growth is coming through the business, though Monthly Active Users were only up 8% in the quarter. Supply chain issues were weighing on their hardware sales so the company is shifting strategy to focus on software upsells. Initial testing has been fruitful, but this is expected to have a slight drag on near term revenue though they expect CY22 revenue in the range of $US245-275m while consensus sits near the top end. The CEO said the US listing plans were dropped following a change in market conditions i.e. the ridiculous revenue multiples are no longer being paid!
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