8-K
filed January 12, 2023, 6:59 PM ET
ticker LIF
CIK 0001581760
earnings
confidence medium
sentiment positive
materiality 0.80
Life360, Inc. (LIF): restructuring charge — Life360 prelim Q4 core subscription rev +54% YoY; cuts 14% workforce; sees positive cash flow from Q2 2023
Life360, Inc.
2022-FY EPS reported
-$1.50
revenue$228,305,000
- Preliminary CY22 core Life360 subscription revenue growth exceeded 54%, in line with guidance; total revenue and Adjusted EBITDA at lower end of guidance.
- Workforce reduction of ~14% to streamline operations; estimated $4M severance charges, annualized cost savings >$15M.
- Cash balance of $90M at Dec 31, 2022 (adjusted for $32M net placement proceeds).
- CY23 total revenue growth expected ~35% YoY; positive Operating Cash Flow and Adjusted EBITDA expected full year, starting Q2.
- Global MAU 48.6M (+37% YoY); Total Paying Circles 1.5M; churn normalized after iOS price changes.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.85
Life360, Inc. updated its calendar year 2023 guidance (reaffirmed).
- Period
- calendar year 2023
- Guidance
- reaffirmed
- Result
- guidance update
Exact text from the filing
On January 12, 2023, Life 360 Inc. (the “Company”) issued an Australian Securities Exchange (“ASX”) media release, among other things, announcing certain preliminary results of operations for the quarter and fiscal year ended December 31, 2022, preliminary guidance for calendar year 2023 and a workforce restructure (the “Media Release”).
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.85
Life360, Inc. updated its the quarter and fiscal year ended December 31, 2022 guidance (reaffirmed).
- Period
- the quarter and fiscal year ended December 31, 2022
- Guidance
- reaffirmed
- Result
- preliminary results
Exact text from the filing
On January 12, 2023, Life 360 Inc. (the “Company”) issued an Australian Securities Exchange (“ASX”) media release, among other things, announcing certain preliminary results of operations for the quarter and fiscal year ended December 31, 2022, preliminary guidance for calendar year 2023 and a workforce restructure (the “Media Release”).
View on SEC.gov
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
Life360, Inc. announced a restructuring with charges of approximately $4 million (approximately 14% reduction of the Company's workforce).
- Type
- restructuring
- Charge
- approximately $4 million
- Headcount
- approximately 14% reduction of the Company's workforce
Exact text from the filing
product initiatives. The restructure will result in an approximately 14% reduction of the Company's workforce. The Company estimates that it will incur charges of approximately $4 million in connection with the restructure, primarily related to expected cash payments related to severance costs of approximately $4 million. The Company expects that the majority of
View on SEC.gov
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