Life360 Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 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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Condensed Consolidated Statements of Cash Flows
(Dollars in U.S. $, in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities: | ||
| Net loss | $(13,053) | $(25,025) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 7,058 | 6,844 |
| Amortization of costs capitalized to obtain contracts | 974 | 1,782 |
| Amortization of operating lease right-of-use asset | 247 | 690 |
| Stock-based compensation expense, net of amounts capitalized | 30,507 | 27,678 |
| Compensation expense in connection with revesting notes | — | 73 |
| Non-cash interest expense, net | 59 | 331 |
| Convertible notes fair value adjustment | 608 | 798 |
| Derivative liability fair value adjustment | 1,707 | 177 |
| Loss on settlement of convertible notes | 440 | — |
| Gain on settlement of derivative liability | (1,924) | — |
| Gain on change in fair value of investment | (5,389) | — |
| Non-cash revenue from investment | (965) | (1,489) |
| Inventory write-off | — | 916 |
| Adjustment in connection with membership benefit | — | (2,172) |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Accounts receivable, net | (6,670) | (6,606) |
| Prepaid expenses and other assets | 3,506 | (2,036) |
| Inventory | (9,689) | (1,026) |
| Costs capitalized to obtain contracts, net | (1,287) | (1,567) |
| Accounts payable | 12,058 | (889) |
| Accrued expenses and other current liabilities | (2,736) | (3,163) |
| Deferred revenue | 5,108 | 3,748 |
| Other liabilities, noncurrent | (270) | (498) |
| Net cash provided by (used in) operating activities | 20,289 | (1,434) |
| Cash Flows from Investing Activities: | ||
| Internal use software | (3,228) | (1,232) |
| Purchase of property and equipment | (63) | (26) |
| Net cash used in investing activities | (3,291) | (1,258) |
| Cash Flows from Financing Activities: | ||
| Indemnity escrow payment in connection with an acquisition | — | (13,128) |
| Proceeds from the exercise of stock options and warrants | 5,564 | 4,109 |
| Taxes paid related to net settlement of equity awards | (23,371) | (11,392) |
| Proceeds from issuance of common stock in U.S. initial public offering, net of underwriting discounts and commissions | 93,000 | — |
| Payments of U.S. initial public offering issuance costs | (2,719) | — |
| Proceeds from repayment of notes due from affiliates | — | 314 |
| Repayment of convertible notes | — | (3,919) |
| Net cash provided by (used in) financing activities | 72,474 | (24,016) |
| Net Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash | 89,472 | (26,708) |
| Cash, Cash Equivalents and Restricted Cash at the Beginning of the Period | 70,713 | 90,365 |
| Cash, Cash Equivalents, and Restricted Cash at the End of the Period | $160,185 | $63,657 |
| Supplemental disclosure: | ||
|---|---|---|
| Cash paid during the period for taxes | $2,318 | $538 |
| Cash paid during the period for interest | 46 | 640 |
| Non-cash investing and financing activities: | ||
| Right of use asset recognized in connection with lease modification | — | 1,054 |
| Operating lease liability recognized in connection with lease modification | — | 1,054 |
| Conversion of September 2021 Convertible Notes to common stock | 3,548 | — |
| Conversion of July 2021 Convertible Notes and accrued interest to common stock | 2,203 | — |
| Property and equipment included within accounts payable | 1,134 | — |
| Stock-based compensation included in internal use software | 523 | — |
| IPO-related transaction costs included in accrued expenses and other current liabilities | 3,573 | — |
The following table presents the cash, cash equivalents, and restricted cash reported within the balance sheets totaling the same such amounts shown above:
| September 30,2024 | September 30,2023 | |
|---|---|---|
| Cash and cash equivalents | $158,980 | $61,848 |
| Restricted cash, noncurrent | 1,205 | 1,809 |
| Total cash and cash equivalents, and restricted cash | $160,185 | $63,657 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.