Page 1

ASX ANNOUNCEMENT 26 August 2021 Life360 2021 Half - Year Results Announcement 2021 first half delivers accelerating growth in Monthly Active Users and Paying Circles San Francisco - based Life360 , Inc. ( Life360 or the Company ) ( ASX : 360 ) today released its Half Year Results and Appendix 4D for the six months ending 30 June 2021. The Appendix 4D is prepared in US dollars under US GAAP . ■ ■ Life360 ■ Revenue of US $ 48.0 million increased 27 % YoY . Statutory EBITDA loss of US $ ( 10.4 ) million compared with US $ ( 7.1 ) million in the prior year reflecting investment in growth . Underlying EBITDA loss ( excluding Stock Based Compensation and Jiobit transaction costs ) of US $ ( 4.8 ) million compared with US $ ( 2.6 ) million in the prior year . Statutory net loss of US $ ( 10.7 ) million compared with US $ ( 7.2 ) million in the prior year . Underlying net loss of US $ ( 5.1 ) million compared with US $ ( 2.6 ) million in the prior year . Cash used in operating activities of US $ ( 4.9 ) million improved from US $ ( 5.5 ) million in the prior year . Cash balance of US $ 50.8 million and debt of US $ 2.1 million related to convertible notes at June 2021 . Life360 Co - Founder and Chief Executive Officer Chris Hulls said : " The first half of 2021 delivered accelerating performance of our key user metrics , benefiting from the rollout of the COVID - 19 vaccine , particularly in the US . Growth is accelerating across the board , and we're seeing the back to - school wave we anticipated . Even with the Delta variant , our confidence for the rest of the year remains extremely high . " Monthly Active User additions were at record levels in the June quarter , benefiting from a viral surge in downloads through social media , primarily TikTok . The MAU base reached a new high in June , with strong year - on - year gains in the US and International . This all - time peak was achieved despite our paid acquisition spend reducing more than 50 % from our 2019 levels , and we are seeing growth continue . While we knew that much of the TikTok surge would be transitory , we have normalized at much higher baseline rates in most regions , English speaking ones in particular . This shows that Life360 now top of mind as families go about their daily lives . " In the June quarter new registrations recovered to pre - pandemic levels . Even more exciting is the work our product teams have done to improve conversion metrics . In the first half of 2021 Paying Circles saw accelerating growth , with record net additions in the June quarter . The success of our Membership model is reflected in a significant uplift in Average Revenue Per Paying Circle " . Normalised * revenue growth of 24 % YoY resulted from growth in both Direct and Indirect Revenue . Annualised Monthly Revenue ( AMR ) for June 2021 was US $ 105.9 million , a 36 % year - on - year increase . The underlying EBITDA loss ( excluding Stock Based Compensation and Jiobit transaction costs ) of US $ ( 4.8 ) million and Statutory EBITDA loss of US $ ( 10.4 ) million increased from the prior period , reflecting increasing investment in growth initiatives as the operating environment has become more supportive , and accelerated growth metrics . Mr Hulls added : " It should be noted that we proved last year the company could shift to cash flow break - even with very short notice , and this gives us confidence to lean in on investments in growth " . * CY20 H1 revenue excludes non - recurring adjustment of US $ 0.9m related to the deferral of a portion of monthly subscription sales through a channel partner Life360 , Inc. | ARBN 629 412 942 | 539 Bryant St , Suite 402 , San Francisco , CA 94107 | investors.life360.com Page 1