Life360 Inc
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 29, 2024
LIF$41.98-6.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(Dollars in U.S. $, in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash Flows from Operating Activities: | |||
| Net loss | $(28,171) | $(91,629) | $(33,557) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |||
| Depreciation and amortization | 9,141 | 9,199 | 876 |
| Amortization of costs capitalized to obtain contracts | 2,125 | 2,928 | 4,014 |
| Amortization of operating lease right-of-use asset | 842 | — | — |
| Stock-based compensation expense | 38,512 | 34,680 | 11,754 |
| Compensation expense in connection with revesting notes | 73 | (87) | 184 |
| Non-cash interest expense, net | 462 | 474 | 166 |
| Convertible notes fair value adjustment | 684 | (1,786) | 511 |
| Derivative liability fair value adjustment | 116 | (1,295) | 733 |
| (Gain)/loss on revaluation of contingent consideration | — | (5,279) | 3,600 |
| Non-cash revenue from investment | (1,608) | (1,504) | — |
| Inventory write-off | 916 | — | — |
| Adjustment in connection with membership benefit | (2,172) | — | — |
| Changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts receivable, net | (9,055) | 6,474 | (2,689) |
| Prepaid expenses and other assets | (6,667) | 10,629 | (943) |
| Inventory | 5,811 | (497) | (859) |
| Costs capitalized to obtain contracts, net | (1,905) | (3,343) | (1,713) |
| Accounts payable | (7,895) | (12,654) | 559 |
| Accrued expenses and other current liabilities | 2,193 | (7,722) | 4,720 |
| Deferred revenue | 4,620 | 4,660 | 1,671 |
| Other liabilities, noncurrent | (498) | (303) | (1,180) |
| Net cash provided by (used in) operating activities | 7,524 | (57,055) | (12,153) |
| Cash Flows from Investing Activities: | |||
| Cash paid for acquisitions, net of cash acquired | — | (110,933) | (2,983) |
| Internal use software | (1,715) | (701) | — |
| Purchase of property and equipment | (506) | — | (81) |
| Cash advance on convertible note receivable | — | — | (4,000) |
| Net cash used in investing activities | (2,221) | (111,634) | (7,064) |
| Cash Flows from Financing Activities: | |||
| Indemnity escrow payment in connection with an acquisition | (13,128) | — | — |
| Proceeds from the exercise of options | 5,811 | 2,394 | 3,543 |
| Taxes paid related to net settlement of equity awards | (14,033) | (4,077) | (4,725) |
| Proceeds from repayment of notes due from affiliates | 314 | 648 | — |
| Payments on borrowings | — | — | (41) |
| Proceeds from capital raise, net of $0, $1,050, and $5,757 of transaction costs, respectively | — | 32,215 | 193,064 |
| Repayment of convertible notes | (3,919) | (3,471) | — |
| Cash received in advance of the issuance of convertible notes | — | — | 2,110 |
| Net cash provided by (used in) financing activities | (24,955) | 27,709 | 193,951 |
| Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash | (19,652) | (140,980) | 174,734 |
| Cash, Cash Equivalents and Restricted Cash at the Beginning of the Period | 90,365 | 231,345 | 56,611 |
| Cash, Cash Equivalents, and Restricted Cash at the End of the Period | $70,713 | $90,365 | $231,345 |
|---|---|---|---|
| Supplemental disclosure: | |||
| Cash paid during the period for taxes | 697 | — | 33 |
| Cash paid during the period for interest | 640 | 514 | 24 |
| Non-cash investing and financing activities: | |||
| Fair value of stock issued in connection with an acquisition | $— | $15,409 | $13,821 |
| Fair value of warrants held as investment | — | 5,474 | — |
| Fair value of stock issued in settlement of contingent consideration | — | 4,221 | — |
| Right of use asset recognized in connection with lease modification | 1,054 | — | — |
| Operating lease liability recognized in connection with lease modification | 1,054 | — | — |
| Fair value of convertible debt issued in connection with an acquisition | — | — | 11,597 |
| Fair value of contingent consideration issued in connection with an acquisition | — | — | 5,900 |
| Fair value of vested options assumed in connection with an acquisition | — | — | 533 |
| Relative fair value of warrants issue with convertible debt | — | — | 844 |
| Forgiveness of convertible debt receivable in connection with an acquisition | — | — | 4,023 |
| Beneficial conversion feature related to convertible debt | — | — | 603 |
| Fair value of bifurcated derivative related to convertible debt | — | — | 663 |
| Total non-cash investing and financing activities: | $2,108 | $25,104 | $37,984 |
The following table provides a table of cash, cash and cash equivalents, and restricted cash reported within the balance sheets totaling the same such amounts shown above:
| December 31,2023 | December 31,2022 | December 31,2021 | |
|---|---|---|---|
| Cash and cash equivalents | $68,964 | $75,444 | $230,990 |
| Restricted cash, current | — | 13,274 | — |
| Restricted cash, noncurrent | 1,749 | 1,647 | 355 |
| Total cash, cash and cash equivalents, and restricted cash | $70,713 | $90,365 | $231,345 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.