Life360 (360) Morgan Stanley Technology, Media & Telecom Conference summary

Company history and business model

• Founded 18 years ago, evolving from location tracking to a broader family safety platform.

• Dual-listed on ASX (2019) and Nasdaq (2023), with positive results from both listings.

• Operates a freemium model, focusing on building a large free user base for premium conversion and advertising.

• 80 million monthly active users (MAU) globally, with 44% in the U.S.

• Organic growth driven by word of mouth, supplemented by marketing.

Geographic and product expansion

• U.S. remains the largest market, but international focus has increased, especially in developed markets.

• Triple-tier premium product rolled out in U.K., Canada, Australia, and New Zealand, driving strong revenue growth (e.g., 95% in Australia/NZ last year).

• International product enhancements and dual-tier offerings are expanding globally.

User engagement and monetization

• Engagement measured by DAU/MAU ratio, with users returning about five times daily.

• Penetration in the U.S. is about 12% paid users; focus remains on growing the overall user base.

• Conversion to premium is gradual, with AI tools being deployed to optimize the funnel.

• ARPPC in the U.S. is about $150 annually, with most subscribers in the Gold tier.

• Significant price increases were implemented with minimal churn, showing pricing power.