San Francisco based family tracking app. Life360 is a great product that many at MM already use. it’s the top-performing ASX200 tech stock, having surged 191% year-to-date. The company’s August result was a cracker on traditional metrics, but it’s the potential that lies beneath the surface that’s sent the stock surging higher:
- They grew their monthly active users (MAU) by 4.3 million, reaching 70.6 million overall.
- 360 increased net Paying Circles by 132,000 in Q224, up 37.5% for the quarter, a new quarterly record for global net additions.
- They grew international MAUs by 48% YoY and international Paying Circles by 42% YoY.
The business is growing its users, but the punchline is how they are starting to monetise this pick-up: Total Revenue Grew 20% YoY to $84.9 million. The company launched a new advertising offering, which is now live for U.S. members and will soon be available globally. Importantly, they are focused on providing members with contextually relevant ads that enhance their user experience – bring in the AI bots! The more we look at 360, the more we like it.
- We like 360 into dips, with the $20-21 initial area of technical support.
MM is bullish 360
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