Life360 — a provider of tracking services for family, pets and valuables — late Monday beat Wall Street's revenue estimate for the first quarter but came up short on total users. Its full-year sales guidance also was light. Life360 stock fell in extended trading.
The San Mateo, Calif.-based company said it earned 5 cents a share on sales of $103.6 million in the March quarter. In the year-earlier period, it lost 14 cents a share on sales of $78.2 million. Analysts polled by FactSet had expected sales of $101.4 million in the first quarter.
Life360 ended the period with 83.7 million global monthly active users, up 26% year over year. However, analysts were expecting 84.5 million.
The company also added 137,000 accounts to its subscription offering, ending the period with 2.4 million Paying Circles worldwide. A Paying Circle is a group of Life360 members with a paying subscription.
Life360 describes itself as a "family connection and safety company." It sells Tile-brand tracking devices and subscription services for families to keep track of loved ones and valuable items like purses, wallets, car keys and bikes.
Life360 Stock Retreats After Report
For the full year, Life360 expects to generate revenue of $450 million to $480 million. The midpoint of $465 million is below Wall Street's consensus estimate of $466.2 million. In 2024, Life360 posted sales of $371.5 million.
"In a more cautious consumer spending environment, our performance reflects both the resilience of our business model and the growing demand for our services that keep families safe, connected, and provide peace of mind," Chief Executive Chris Hulls said in a news release.
In after-hours trading on the stock market today, Life360 stock dropped more than 4% to 47.24. During the regular session Monday, Life360 stock jumped 8.3% to close at 49.51.
Life360 stock has been consolidating for the past 23 weeks at a buy point of 52.77, according to IBD MarketSurge charts. That buy point is also the stock's all-time high, reached on Dec. 3.
Life360 went public last June with its IPO priced at $27 a share.
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