By Stuart Condie
SYDNEY--Life360's Australia-listed shares are on track for their best day since August after the tracking-app developer raised its annual subscription guidance.
The stock was up 17% about two hours into Tuesday's session after the California-based company lifted its 2025 subscription revenue guidance range by US$5 million, to US$355 million to US$365 million.
That effectively offset a US$5 million cut to its hardware revenue guidance range, which came as Life360 redirects supply of its new pet-tracker devices away from the U.S. and into other markets.
With revenue guidance unchanged at a group level, RBC analyst Wei-Weng Chen said the slight shift improved the quality of the company's outlook.
"Momentum in the business continues to be strong," Chen said in a note to clients.
The stock was recently at 27.88 Australian dollars, equivalent to US$17.77, and is up 24% so far this year. Life360's U.S. securities rose 8.3% on Monday.
Write to Stuart Condie at stuart.condie@wsj.com
(END) Dow Jones Newswires
May 12, 2025 21:49 ET (01:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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