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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.