The family app platform said revenue had increased 45 per cent to $70.8 millionShares in Life360 soared more than 17 per cent on Tuesday morning after the company increased its full-year earnings guidance, another sign that investors are rewarding technology companies that are reducing losses and on track to profit.told shareholders that its net losses had narrowed to $US4.4 million for the three months ended June 30 while revenue increased 45 per cent year-on-year to $70.8 million.
Life360 upgraded guidance for the 12 months to December 31 from between $US5 million and $US10 million to between $US9 million and $US14 million. Life360 listed on the ASX in 2019 and owns a location tracking app used by parents that has various subscription levels and can monitor everything from where children are to how fast they are driving. Its mission is to be a leader in locating people, pets and things.
Asked how the end of the rate rise cycle would influence technology stocks, which have rallied this year, Mr Hulls said future interest rate movements wouldn’t alter the company’s day-to-day operations or path to profitability.
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