Shares of Life360 Inc (LIF) surged 12.29% in pre-market trading on Tuesday following the company's release of impressive second-quarter results, raised full-year guidance, and announcement of a significant leadership change.
The family safety and connection platform reported Q2 revenue of $115.4 million, representing a robust 36% year-over-year increase and surpassing analyst estimates of $109.8 million. Life360 also swung to profitability, posting a net income of $7 million or $0.08 per diluted share, compared to a loss in the same period last year. The company's adjusted EBITDA came in at $20.3 million, significantly beating expectations.
Adding to the positive sentiment, Life360 raised its full-year 2025 outlook. The company now expects consolidated revenue of $462 million to $482 million, up from its previous guidance of $450 million to $480 million. Additionally, Life360 announced a key leadership transition, with COO Lauren Antonoff being promoted to CEO and appointed to the Board of Directors, while co-founder Chris Hulls will transition to the role of Executive Chairman.
The strong results and optimistic outlook prompted several analysts to raise their price targets for Life360. Stifel increased its target to $92 from $87, UBS raised its target to $85 from $71, and Citizens JMP lifted its target to $95 from $62. These upgrades further fueled investor enthusiasm, contributing to the stock's significant pre-market gain.
Comments