Life360, Inc.

our third quarter 2025 earnings conference call. This call is being conducted as a Zoom audio webinar. All participants will be in a listen-only mode until the question and answer session. When we come to the Q&A, please raise your hand by pressing the raise hand icon at the bottom center of your screen, and your line will be unmuted in turn. Participants who are joined by telephone will be in a listen-only mode throughout. As a reminder, we will make forward-looking statements regarding future events and potential financial performance during this call, which are subject to material risks and uncertainties that can cause actual results to differ materially from such statements. A summary of these risks may be found in the risk factor section in our Form 10-K filing with the SEC dated February 27, 2025, and our Form 10-Qs filed with the SEC dated May 12, 2025, August 11, 2025, and November 10, 2025. These forward-looking statements are based on assumptions that we believe to be reasonable as of today's date, November 10, 2025. And we have no obligation to update these statements as a result of new information or future events, except when required by law. Additionally, we will present both GAAP and non-GAAP financial measures on today's call. These non-GAAP measures are not intended to be considered in isolation from, is substitute for, or superior to our GAAP results and should be read in conjunction with the company's consolidated financial statements prepared in accordance with GAAP. A description of these non-GAAP financial measures, as well as a reconciliation to the nearest GAAP financial measures, are included at the end of the company's earnings media release issued earlier today, which has been posted on the investor relations page of the company's website. We have posted an updated investor presentation on the investor relations page, which includes additional complementary graphics and data. Please note that it has been provided as an additional reference and that we will not be using the presentation as an exhibit during today's call. We will begin with an overview of results and a business update from our Chief Executive Officer, Lauren Antonoff, with a comment from our co-founder and Executive Chairman, Chris Hulls. Then our Chief Financial Officer, Russell Berg, will walk through the Q3 2025 financials. Lauren will return with comments on our updated 2025 outlook before we open up the call for Q&A. We ask that participants please limit themselves to one question to ensure that we can hear from as many of you as possible. With that, I'll turn the call over to Lauren.

Good afternoon to everyone joining from the U.S. and good morning to those of you tuning in from Australia. Thank you for joining our third quarter results call. Q3 2025 was another record quarter for Life360. We reached all-time highs in paying circles and global net subscription ads while continuing to advance our vision of becoming the go-to platform for everyday family life. These results reflect our outstanding product market fit, the strength of our freemium model, and most importantly, the trust we built with millions of families who depend on Life360 every day to keep their family safe and manage the day-to-day chaos of family life. Our growth engine is fueled by the peace of mind that Life360 provides families who use our platform to stay connected to the people, pets, and things they love. Our freemium model continues to drive delight and encourage upgrades to premium features such as unlimited place alerts that give families a heads up when mom leaves work or dad stops by their favorite sandwich shop. Our free offering is now even more valuable to families with the introduction of our new pet finder network, which I'll come back to in a moment. Because of our outstanding value, the majority of our growth remains organic, driven by word of mouth and increasing brand awareness. This quarter, we continue to deliver innovative experiences like no-show alerts. We spotted a pattern where nervous parents continually check to see if their kid arrived, and we decided to create a feature to reduce anxiety by flipping this experience on its head. Now we can alert parents when a loved one doesn't arrive on time at a designated location. No need to keep checking. It's one more way we're giving families peace of mind and making everyday family life better. We delivered no-show alerts just as kids were heading back to school, and we've seen outstanding engagement with over 1 million alerts configured to make sure that people arrive safely as expected. We also deepened our partnership with AccuWeather, the world's most accurate and widely used source of weather forecasts and warnings. Last quarter, this partnership delivered severe weather alerts to our members. In Q3, we took it a step further by extending these alerts to the entire circle so every family member is notified when weather threatens someone they care about. This integration, as with our work with Uber, highlights how major brands are recognizing Life360 as a true platform, not just another location sharing app. We're creating monetizable experiences that drive far higher engagement than traditional ads and genuinely add value to our members' daily lives. Unlike banner ads that users simply tolerate, our AccuWeather experience shows why people choose Life360. It makes the platform more useful, relevant, and uniquely positioned at the center of family life. We're also engaging members in creative ways like our Life 360 Pays For campaign, which was designed to reinforce our mission of making everyday family life better and build brand affinity by helping families manage real life costs from rent to gas to data plans. Our combination of product innovation and creative marketing with millions of views across the media spectrum continues to strengthen engagement across our platform. As a result, we added 3.7 million monthly active users in the third quarter, growing 19% year over year, bringing our total active users to nearly 92 million. Our total paying circles grew 23% year over year to 2.7 million, achieving a record 170,000 net new additions, boosted by focus in our marketing efforts and optimization in our funnel, resulting in better conversion from free to paid in the US and international markets, especially within that first critical 30 days of use. While malgrowth is lower than the same period last year, it was led by our highest value user segments, reflecting an intentional shift in our marketing to focus paid media on users who are more likely to retain and convert. The strategy is working. Our 35 to 50-year-olds, which drive the majority of our monetization, reached record highs this quarter. The results speak for themselves with record growth in paying circles and strong brand awareness. At the same time, we continue to benefit from Life360's cultural relevance, which extends well beyond our core target audience. In recent weeks, we've been trending on TikTok because we created a product experience that hopped on the 6-7 meme. If you don't have teens, you might not know what that means, but millions of our younger members do. While we don't rely on Gen Z as primary converters, their enthusiasm fuels a powerful halo effect that keeps Life360 part of the broader cultural conversation. Just this week, one of our TikTok posts went viral with an astounding 2.2 million views. This visibility strengthens our brands with parents and families alike, proving that our position at the center of the digital zeitgeist is a real competitive advantage. Internationally, momentum remains strong. Paying circles outside the US grew 29% year-over-year, with an 8% year-over-year ARPPC uplift driven by local pricing strategies and the continued success of premium tiers across the UK, Canada, Australia, and New Zealand. If these markets continue on the same trajectory as the US, and current trends suggest they will, there remains significant headroom for accelerated growth ahead. While we continue to experiment with our marketing levers, the results we've seen give us confidence that edgy, creative, disciplined marketing investment, and most importantly, a product that delights customers, will continue to drive durable growth for many years to come. On top of growing our membership base, we're deeply committed to increasing the value we deliver to our members, including extending Live360's impact beyond the phone. Our connected devices play a critical role in expanding our reach and deepening engagement, giving families more ways to stay connected. We took a big step forward on this front as we launched Life360 Pet GPS, which brings to life our vision to connect families with the people, pets, and things they love on one map and extends the peace of mind we're known for to furry family members. This is our first product designed specifically for pets, and it's now available in the United States, Canada, the UK, Australia, and New Zealand. We took a measured approach to our initial launch, and while it's too soon to provide forecasts, early demand exceeded our initial expectations, selling out in most regions within days. One in three pets becomes lost at some point during their lifetime, and family with pets represent a significant opportunity, covering nearly 70% of U.S. households. Young families tend to get their first pet before they have kids and certainly before the age that kids get their own phone. And pets don't head off to college, meaning that our pet GPS makes subscriptions more valuable to families through all life stages. Our goal with pets goes far beyond selling devices. We have an opportunity to raise the bar for what it means to be a responsible pet parent. We're committed to driving awareness and education about how to keep pets safe. Pet owners have been led to believe that a microchip or Bluetooth tracker will help if their pet escapes. And I know from personal experiences that these solutions are outdated and woefully unsuited to the job. To make use of a microchip, someone needs to capture your pet and take it to a vet or a shelter. Not only does that count on extraordinary effort, but trying to catch a lost dog can put both the dog and the person in danger. Bluetooth trackers work great when your dog is at home on the couch, but they're ill-suited for a dog on the run. The best way to get a dog home safely is to equip them with a GPS tracker that tracks your pet in real time so you can close the distance quickly and bring them home safely. Well, pet GPS is the best way to keep a pet safe. At Life360, we want to keep every pet safe, even those without a tracker. Our community-powered pet funder network draws on our nearly 92 million members to help reunite lost pets with their families by sending a lost pet alert to members nearby. PetGPS and our PetFinder network expand our relevance to even more households and reinforce our position as the go-to platform for everyday family safety. Families already trust Life360 to keep their loved ones connected and safe, and that trust gives us a strong foundation to lead in this growing category. Beyond subscriptions and hardware, we continue to advance our strategy to build high margin complimentary revenue streams. Q3 other revenue grew 82% year over year to 16.9 million with strong performance in advertising. We're still early in our advertising roadmap, but we're making progress building the full operating stack that will power long-term growth. Our place ads and uplift products are live and gaining traction, enabling brands to reach families in relevant real-world moments and measure the impact of their ad campaigns. At the same time, we're enhancing our programmatic partnerships and data integrations to improve targeting, delivery, and performance. This phase is about building the right foundation, bringing together the people, technology, and relationships that will allow us to efficiently and effectively scale. The momentum we're seeing fuels our confidence that advertising is on track to become a durable high margin growth engine for Life360. To accelerate our vision, we've entered into an agreement to acquire Nativo, a best in class advertising technology company. Nativo brings full-stack ad technology, a seasoned team, and hundreds of advertiser and publisher relationships that will allow us to scale our ads business faster and more efficiently while maintaining the high editorial and privacy standards that define the Live360 promise. We expect this combination to accelerate our advertising roadmap, expand our offsite reach, and position Life360 to deliver a unified ad platform that seamlessly connects our audience with broader publisher networks. It's a major step forward in creating a differentiated, full funnel solution for brands and agencies. And importantly, it advances our mission to grow advertising in a way that's consistent with our commitment to families. We look forward to welcoming the Nativo team to Life360 once that transaction closes. Before I conclude, I've asked Chris to share a few thoughts from his new role. So Chris, over to you.

Thanks, Lauren. I'll keep it brief. The transition has gone incredibly smoothly, and it's great to see how well the company is executed while continuing to advance our long-term vision. If I had to sum up this quarter in one theme, it's that we're proving Life360 is not just an app, it's a platform that's always been at the heart of the 360 in our name. With the launch of our new device, people, pets, and things are now fully integrated into the Life360 map. And we're the only player in the space with a complete family-focused hardware and software ecosystem. And it shows how far ahead we are of any direct competitor. The Nativo acquisition is another major milestone. We've long said that indirect revenue could one day rival subscriptions. And this deal accelerates that vision. Nativo isn't just about adding more ads. It's about enabling third parties to use our location intelligence and privacy-safe ways that improve their performance while preserving the experience of our free users who remain the foundation of our platform. And finally, it's great to see Light360 jumping on the 6-7 trend and going viral on TikTok again, this time organically from the team, which means in a very genuine way, I'm very happy I do not have to reprise my role as an influencer. I'm excited to continue supporting the team as executive chairman. And back to you, Lauren.