What happened to Life360 (360) shares today?
360 +16.36%: while the rally in tech stocks helped, Life360 was also boosted by strong guidance into the 2H. The digital safety company presented at a technology conference today and painted a rosy picture for the rest of the year and beyond. They guided to an EBITDA loss of $3-6m in the second half before targeting profitability and positive cashflow by CY24 on the back of scale, slowing headcount growth and a strong uplift in subscriptions with the push for bundled memberships. They had $79m in cash the end of the first half providing plenty of balance sheet headroom as they look to breakeven at some point next year.
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