Life360, the ASX-listed and US-based group that owns a family tracking app, says it expects to be able to benefit from raising prices.
Chris Hulls, founder and chief executive of family tracking app Life360, says the tech company is “feeling very good” about its ability to pass on price rises to its customers, as it forecast the business will be cash flow positive in the fourth quarter.
“We’re already seeing behaviour of our users being very different than many other consumer products. The core subscription has not seen any sort of pull back from this reduction in discretionary spend,” he said, noting that Tile - which makes physical bluetooth trackers and the group acquired in 2021 - has been impacted more than the core Life360 product.
The San Francisco-based Mr Hulls made the comments after the group told investors it will generate cash by the fourth quarter, helped by an expected back-to-school seasonal uplift in sales, reduced spending on integrating the Tile acquisition and a leaner organisational structure. The companyFollowing the results, Life360 shares rose to levels not seen since April this year, though shares are still worth less than half of their November 2021 peak when they reached $13.65 each.
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