Life360 – Tracking well

August 15, 2024

Life360 (360) offers a technology platform to locate the people, pets and things that matter most to families. The company’s core offering – its Family Tracking App – includes features ranging from communications, crash and roadside assistance and identify theft protection to location sharing. The company had around 71 million monthly active users across more than 170 countries as of June 2024.

‍

The company delivered another extremely strong result in the June quarter of 2024, beating Ord Minnett expectations for adjusted operating earnings and operating cash flow by 50% and 100%, respectively. Guidance for calendar 2024 was materially upgraded at both the revenue and adjusted operating earnings lines, while profitability at the statutory operating earnings level has been brought forward to the December quarter of 2024 from the first half of 2025.

‍

Encouragingly, 360’s platform continues to strengthen – with a new record for additions to its ‘Paying Circles’ product in the June quarter, while improved unit economics and incremental operating earnings margins of 40% were also demonstrated. Following the result, we raised our price target to $19.28 from $16.42 and reiterated our Buy recommendation.

‍

Insights that count

Discover the best opportunities to outperform the market. Our research team dig deep into the market, company and stock data to bring you insights others might overlook.

Macquarie Group (MQG) – Balancing act

Macquarie Group provides diversified financial services in Australia, New Zealand the Americas, Europe, the Middle East, Africa, and Asia.

Learn More

Aug

Newmont Corporation (NEM) – Shining star

Newmont Corp is the world’s largest gold miner, producing more than 5 million ounces a year from its operations and/or assets in the US, Australia, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Papua New Guinea, Ecuador, Fiji, and Ghana.

Learn More