Life360 (ASX:360) increases CY21 revenue guidance

San Francisco-based Life360 (ASX:360) has released its September quarterly activities report.

Life360 is the creator of the Life360 mobile app, which allows family members to track each other’s locations. The app is in use by 33 million users across 195 countries.

Life360’s report mentions annualised monthly revenue (AMR) of US120.1 million, a year-on-year increase of 48 per cent. This excludes Jiobit, a company Life360 acquired in July that produces a wearable location device. Underlying EBITDA loss was US$3.2 million, excluding Jiobit. The global monthly user base of 33.8 million is up 31 per cent year-on-year.

The company has upgraded its calendar year 2021 AMR guidance.

Shares in Life360 (ASX:360) are trading 5.8 per cent higher at $10.48.