Life360, Inc. Common StockLIF
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Life360, Inc. Common Stock Goldman Sachs Communacopia + Technology Conference

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Period 0Duration35 minParticipants3

Transcript

Preview the first fifteen paragraphs, organized by speaker.

Peter MarksConsumer Analyst

All right, I think we're live. Thanks very much everyone today for joining us. My name's Peter Marx from the Australian research team. I'm very happy today to have the Life360 management team here to chat about the business. Thanks very much for your time.

Peter MarksConsumer Analyst

Happy to. Thank you. We've got Lauren Antonoff, CEO, and Russell Burke, CFO.

Peter MarksConsumer Analyst

Thanks again for your time. In terms of housekeeping, we've got 35 minutes. I am going to ask the first few questions, but we're going to open up the floor to Q&A. If you do have a question, please put your hand up and we'll get a mic to you as soon as we can. With that, Lauren, Russell, maybe we can start quite high level, bit of an introduction to Life360. What do you do? What are the problems that you're solving for customers?

Lauren AntonoffCEO

I'll take that. We are the leading family connection and safety app, and the way we rose up was helping families concerned with safety, and we got really outstanding popularity and really well known for families who are having teen drivers, and they were worried. They wanted to make sure that teenagers were safe. What's interesting is that demographic represents about a third of our users. The reality is that all sorts of people in all sorts of family configurations use us because they feel connected to the people that they are close with. People just check. I know I like to check the app and see if my daughter's gotten home from school. I like to just check in before I call. It's a great app for coordination.

Lauren AntonoffCEO

The use cases that we see broadly, especially in our 100 million member free user base, are really quite diverse. They anchored on safety, expanded to connection and coordination, and we're expanding from there.

Peter MarksConsumer Analyst

Is there any use case that surprised you as it's developed?

Lauren AntonoffCEO

It's full of surprises. I'll talk about some of the stories that have happened in my life in the past year. Actually, I'll do an older one. The thing that brought me to Life360 was something that we didn't do, but it was I had lost my dog, so I was really worried about that. I had researched pet trackers, and they were all short battery life, impractical. They wouldn't really work for a busy exec like me, and it was actually one of those trackers was owned by Life360, and that's what got me interested in the company.

Lauren AntonoffCEO

When we set about to make our own, the first pet tracker that we really made as a product, owning the company, we set out to design for regular busy people with a much longer battery life, and when our battery runs out, we still keep it going, still acts like a Tile. So we have that extended battery life. Anyway, the other day, my cat wears one of these trackers. It's kind of too big, I think, for a cat. It was really designed, our first release was designed more with dogs in mind, but I put it on my cat to just see how it worked, and it looked really cute. He's a gray cat, and it's a pink tracker. So I left it on him, and it turns out it's a good thing because he sometimes likes to sneak out the door.

Lauren AntonoffCEO

The other day we were going to dinner, and my cat snuck out the door, and we had to rush off, so we left the door open, and we left him outside. I am sitting at dinner, and I get a notification that, "Your cat got home." Which is a really great feeling, and that feeling of everything is okay in the world, that is the feeling that Life360 gives people. That is the thing that brings people back. That is the reason. That feeling is the reason that we have 100 million members coming to us every month and growing. That was one example. Can I keep going?

Lauren AntonoffCEO

Please. I have got a couple of these stories.

Peter MarksConsumer Analyst

You have got it all.

Lauren AntonoffCEO

I think these are the greatest stories. Okay, so another one. We recently moved from the Bay Area to Los Angeles, and we left a car up here thinking, "When we are up here, we might want a car." It got stolen. My husband says, "I think I put a Tile in that car." We look, and sure enough, the car is over in Stockton. I do not know if you know where Stockton is, but it is not close to where we live. We told the police, and the police literally were able to go and reclaim our car because we had put a Tile in it. We had put a Tile in it because we were worried about losing the car when we park it, which happens. The benefit is being able to find it when you need it.

Lauren AntonoffCEO

And that's, again, the sort of safety net that Life360 has. I will do one more story. Okay. So last one. I'm sitting next to my husband, this is 2 weeks ago, and there's a notification. It's sort of a distinctive alert from my phone. My husband says, "What's that?" I said, "It's a flight landing notification." But our immediate family, my kids and my husband, we knew where they all are. We knew they weren't traveling. So I looked at my phone, and it was my brother, because we have another circle with my brother, and he had just landed in L.A., where I live. And, it turns out he was dropping my niece off at school, and he was just in town for the day, and I said, "Well, let's get together." We were actually able to get together in person.

Lauren AntonoffCEO

And so this is one of the things that's so unique about Life360. We're not a platform about being connected digitally. We are a platform about real life and bringing people closer in the real-life world. Then the follow-on of that is the next week I was here for some meetings, and my brother saw the flight landing notification, and he called me and he said, "When are we having coffee?" And we did. So it's just these kinds of delightful stories. Every time I meet somebody, and I tell them I work at Life360, they tell me a story. They want to share how it makes them feel, how it impacts their lives, and most of the stories are great and fun like this. Sometimes the stories are scary or tragic. But it always makes us feel like we're doing really important work.

Peter MarksConsumer Analyst

That's a great overview. Maybe if we can quickly touch on the competitive environment. I guess for those, again, that may not be familiar with the story. Could you just frame it up how you, I guess, see your competitive positioning versus something like Apple's products, and how the company competes with those larger platforms?

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