2023 Q4 Form 10-Q Financial Statement

#000158176023000124 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $86.96M $78.62M
YoY Change 21.9% 37.57%
Cost Of Revenue $26.82M $20.74M
YoY Change 1.66% 15.78%
Gross Profit $60.14M $57.89M
YoY Change 33.78% 47.52%
Gross Profit Margin 69.15% 73.62%
Selling, General & Admin $38.46M $39.82M
YoY Change 18.27% 11.25%
% of Gross Profit 63.96% 68.8%
Research & Development $26.02M $24.57M
YoY Change 3.48% 0.0%
% of Gross Profit 43.26% 42.44%
Depreciation & Amortization $2.449M $46.00K
YoY Change 3.42% -54.0%
% of Gross Profit 4.07% 0.08%
Operating Expenses $64.48M $64.39M
YoY Change 11.82% 6.67%
Operating Profit -$4.341M -$6.507M
YoY Change -65.85% -69.2%
Interest Expense $61.00K $63.00K
YoY Change -45.54% -143.45%
% of Operating Profit
Other Income/Expense, Net $1.545M -$204.0K
YoY Change 194.29% -361.54%
Pretax Income -$2.735M -$6.711M
YoY Change -77.35% -68.11%
Income Tax $411.0K -$170.0K
% Of Pretax Income
Net Earnings -$3.146M -$6.541M
YoY Change -74.43% -69.03%
Net Earnings / Revenue -3.62% -8.32%
Basic Earnings Per Share -$0.10
Diluted Earnings Per Share -$0.05 -$0.10
COMMON SHARES
Basic Shares Outstanding 67.71M shares 66.95M shares
Diluted Shares Outstanding 67.09M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $68.96M $61.85M
YoY Change -8.59% 40.68%
Cash & Equivalents $68.96M $61.85M
Short-Term Investments
Other Short-Term Assets $14.52M $11.34M
YoY Change -28.12% 35.84%
Inventory $4.099M $10.94M
Prepaid Expenses $14.52M $10.52M
Receivables $42.18M $39.73M
Other Receivables $654.0K $820.0K
Total Short-Term Assets $131.4M $124.9M
YoY Change -7.87% 31.44%
LONG-TERM ASSETS
Property, Plant & Equipment $730.0K $800.0K
YoY Change 85.75% 52.38%
Goodwill $133.7M $133.7M
YoY Change 0.0% 0.06%
Intangibles $45.44M $47.21M
YoY Change -13.77% -14.06%
Long-Term Investments
YoY Change
Other Assets $21.00K $21.00K
YoY Change -84.56% -84.56%
Total Long-Term Assets $190.3M $191.5M
YoY Change -3.39% -10.19%
TOTAL ASSETS
Total Short-Term Assets $131.4M $124.9M
Total Long-Term Assets $190.3M $191.5M
Total Assets $321.7M $316.4M
YoY Change -5.27% 2.65%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $5.896M $12.90M
YoY Change -57.25% 2.58%
Accrued Expenses $16.99M $22.58M
YoY Change 35.55% 13.57%
Deferred Revenue $33.93M $33.65M
YoY Change 12.9% 20.74%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.449M $3.563M
YoY Change -1.82% 3.16%
Total Short-Term Liabilities $70.82M $72.70M
YoY Change -19.21% -13.62%
LONG-TERM LIABILITIES
Long-Term Debt $1.056M $950.0K
YoY Change -73.99% -75.7%
Other Long-Term Liabilities $723.0K $810.0K
YoY Change 25.52% -45.93%
Total Long-Term Liabilities $723.0K $810.0K
YoY Change 25.52% -45.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.82M $72.70M
Total Long-Term Liabilities $723.0K $810.0K
Total Liabilities $74.65M $76.10M
YoY Change -21.49% -17.98%
SHAREHOLDERS EQUITY
Retained Earnings -$285.1M -$282.0M
YoY Change 10.96% 15.26%
Common Stock $70.00K $68.00K
YoY Change 4.48% 9.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $247.1M $240.3M
YoY Change
Total Liabilities & Shareholders Equity $321.7M $316.4M
YoY Change -5.27% 2.65%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$3.146M -$6.541M
YoY Change -74.43% -69.03%
Depreciation, Depletion And Amortization $2.449M $46.00K
YoY Change 3.42% -54.0%
Cash From Operating Activities $8.958M $4.094M
YoY Change -515.11% -125.01%
INVESTING ACTIVITIES
Capital Expenditures $989.0K $341.0K
YoY Change -100.87%
Acquisitions
YoY Change
Other Investing Activities $26.00K -$26.00K
YoY Change -100.02% -91.48%
Cash From Investing Activities -$963.0K -$367.0K
YoY Change -139.02% 20.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -939.0K -4.220M
YoY Change -103.01% 11.91%
NET CHANGE
Cash From Operating Activities 8.958M 4.094M
Cash From Investing Activities -963.0K -367.0K
Cash From Financing Activities -939.0K -4.220M
Net Change In Cash 7.056M -493.0K
YoY Change -77.59% -97.59%
FREE CASH FLOW
Cash From Operating Activities $8.958M $4.094M
Capital Expenditures $989.0K $341.0K
Free Cash Flow $7.969M $3.753M
YoY Change -92.84% -122.93%

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CY2022Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-29000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-21119000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
215462000 usd
us-gaap Net Income Loss
NetIncomeLoss
-25025000 usd
us-gaap Net Income Loss
NetIncomeLoss
-79326000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6844000 usd
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6831000 usd
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1782000 usd
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
2419000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
690000 usd
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
0 usd
us-gaap Share Based Compensation
ShareBasedCompensation
27678000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
24487000 usd
lifx Compensation Expense Revesting Notes
CompensationExpenseRevestingNotes
73000 usd
lifx Compensation Expense Revesting Notes
CompensationExpenseRevestingNotes
-100000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
331000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
345000 usd
lifx Fair Value Adjustment Of Convertible Notes
FairValueAdjustmentOfConvertibleNotes
798000 usd
lifx Fair Value Adjustment Of Convertible Notes
FairValueAdjustmentOfConvertibleNotes
-1875000 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
-177000 usd
us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
1183000 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-5279000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1489000 usd
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
1008000 usd
us-gaap Inventory Write Down
InventoryWriteDown
916000 usd
us-gaap Inventory Write Down
InventoryWriteDown
0 usd
lifx Noncash Adjustment Membership Benefit
NoncashAdjustmentMembershipBenefit
2172000 usd
lifx Noncash Adjustment Membership Benefit
NoncashAdjustmentMembershipBenefit
0 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
6606000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-16412000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
2036000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-7216000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
1026000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
4877000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
1567000 usd
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
2777000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-889000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-13867000 usd
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-3163000 usd
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-5345000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
3748000 usd
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
2410000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-498000 usd
us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
620000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1434000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-54897000 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 usd
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
113401000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
1232000 usd
us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
701000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
26000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1258000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-114102000 usd
lifx Payments For Escrow Business Acquisition
PaymentsForEscrowBusinessAcquisition
13128000 usd
lifx Payments For Escrow Business Acquisition
PaymentsForEscrowBusinessAcquisition
0 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
4109000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1994000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
11392000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2727000 usd
lifx Proceeds From Collection Of Stockholder Notes Receivable
ProceedsFromCollectionOfStockholderNotesReceivable
314000 usd
lifx Proceeds From Collection Of Stockholder Notes Receivable
ProceedsFromCollectionOfStockholderNotesReceivable
648000 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 usd
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
85000 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
3919000 usd
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
3471000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-24016000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3471000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-26708000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-172470000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90365000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
231345000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
63657000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58875000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
538000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
us-gaap Interest Paid Net
InterestPaidNet
640000 usd
us-gaap Interest Paid Net
InterestPaidNet
518000 usd
us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
0 usd
us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
15409000 usd
lifx Fair Value Of Warrants Held In Investment In Affiliate
FairValueOfWarrantsHeldInInvestmentInAffiliate
0 usd
lifx Fair Value Of Warrants Held In Investment In Affiliate
FairValueOfWarrantsHeldInInvestmentInAffiliate
5474000 usd
us-gaap Stock Issued1
StockIssued1
0 usd
us-gaap Stock Issued1
StockIssued1
4221000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1054000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
lifx Operating Lease Liability Recognized Lease Modification
OperatingLeaseLiabilityRecognizedLeaseModification
1054000 usd
lifx Operating Lease Liability Recognized Lease Modification
OperatingLeaseLiabilityRecognizedLeaseModification
0 usd
lifx Noncash Investing And Financing Activities
NoncashInvestingAndFinancingActivities
2108000 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
1809000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
63657000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58875000 usd
us-gaap Nature Of Operations
NatureOfOperations
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">1. Nature of Business </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Life360, Inc. (the “Company”) is a leading technology platform used to locate the people, pets and things that matter most to families. The Company was incorporated in the State of Delaware in 2007. The Company’s core offering, the Life360 mobile application, includes features that range from communications to driving safety and location sharing. The Company operates under a “freemium” model where its core offering is available to users at no charge, with three membership subscription options that are available but not required. The Company also generates revenue through monetization arrangements with certain commercial third parties (“Data Revenue Partners”) through Lead Generation and license agreements (including aggregated insights into the data collected from the Company’s user base). On September 1, 2021, the Company acquired all ownership interests of Jio, Inc (“Jiobit”). Jiobit is a provider of wearable location devices for young children, pets, and seniors. On January 5, 2022, the Company acquired all ownership interests of Tile, Inc. (“Tile”). Tile is a smart location company whose products include a Bluetooth enabled device and related accessories that work in tandem with the Tile application to enable its customers to locate lost or misplaced objects. </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On January 12, 2023, the Company announced a workforce restructure which resulted in a reduction of the Company’s workforce of approximately 14%. The Company incurred $0.2 million and $4.0 million in non-recurring personnel and severance related expenses in connection with the restructure during the three and nine months ended September 30, 2023, respectively. As of September 30, 2023, all expenses incurred had been paid. </span></div><div style="margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The restructuring costs are recognized in the condensed consolidated statements of operations for the three and nine months ended September 30, 2023 as follows (in thousands):</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:63.445%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.324%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.325%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Personnel and Severance Related Expenses</span></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Three Months Ended<br/>September 30, 2023</span></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Nine Months Ended September 30, 2023</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cost of subscription revenue</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">64 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cost of hardware revenue</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">94 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Research and development</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,878 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Sales and marketing</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">75 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">826 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">General and administrative</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">163 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1,108 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">238 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3,970 </span></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div>
CY2023Q1 us-gaap Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
0.14
CY2023Q3 us-gaap Restructuring Charges
RestructuringCharges
200000 usd
us-gaap Restructuring Charges
RestructuringCharges
4000000 usd
CY2023Q3 us-gaap Restructuring Charges
RestructuringCharges
238000 usd
us-gaap Restructuring Charges
RestructuringCharges
3970000 usd
us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the Company’s condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets, liabilities, net revenue, and expenses. Significant items subject to such estimates, judgments, and assumptions include: </span></div><div style="margin-top:6pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">revenue recognition, including the determination of selling prices for distinct performance obligations sold in multiple performance obligation arrangements, the period over which revenue is recognized for certain arrangements, and estimated delivery dates for orders with title transfer upon delivery; </span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">allowances for credit losses and product returns;</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">promotional and marketing allowances;</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">inventory valuation;</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">average useful customer life;</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">valuation of stock-based awards; </span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">legal contingencies; </span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">impairment of long-lived assets and goodwill;</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">valuation of contingent consideration, convertible notes and embedded derivatives; </span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">useful lives of long-lived assets; and</span></div><div style="margin-top:3pt;padding-left:36pt;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt">income taxes including valuation allowances on deferred tax assets.</span></div>The Company bases its estimates and judgments on historical experience and on various assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from those estimates.
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
1800000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
14900000 usd
CY2023Q3 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1800000 usd
CY2022Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1600000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
78624000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
57153000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
217555000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
156967000 usd
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3500000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
23400000 usd
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2000000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
13200000 usd
CY2023Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
35000000 usd
CY2023Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
33700000 usd
CY2023Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q3 us-gaap Capitalized Contract Cost Amortization Period
CapitalizedContractCostAmortizationPeriod
P3Y
CY2022Q3 us-gaap Capitalized Contract Cost Amortization Period
CapitalizedContractCostAmortizationPeriod
P3Y
CY2023Q3 lifx Capitalized Contract Cost Increase For Contract Acquired In Business Combination
CapitalizedContractCostIncreaseForContractAcquiredInBusinessCombination
0 usd
CY2022Q3 lifx Capitalized Contract Cost Increase For Contract Acquired In Business Combination
CapitalizedContractCostIncreaseForContractAcquiredInBusinessCombination
0 usd
lifx Capitalized Contract Cost Increase For Contract Acquired In Business Combination
CapitalizedContractCostIncreaseForContractAcquiredInBusinessCombination
0 usd
lifx Capitalized Contract Cost Increase For Contract Acquired In Business Combination
CapitalizedContractCostIncreaseForContractAcquiredInBusinessCombination
1184000 usd
CY2023Q3 lifx Capitalized Contract Cost Additions
CapitalizedContractCostAdditions
573000 usd
CY2022Q3 lifx Capitalized Contract Cost Additions
CapitalizedContractCostAdditions
979000 usd
lifx Capitalized Contract Cost Additions
CapitalizedContractCostAdditions
1567000 usd
lifx Capitalized Contract Cost Additions
CapitalizedContractCostAdditions
1593000 usd
CY2023Q3 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
918000 usd
CY2022Q3 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
748000 usd
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1782000 usd
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
2419000 usd
CY2023Q3 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1849000 usd
CY2022Q3 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
2007000 usd
CY2023Q3 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1849000 usd
CY2022Q3 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
2007000 usd
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
41430000 usd
CY2023Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
41430000 usd
CY2023Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
278000 usd
CY2023Q3 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
3563000 usd
CY2023Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
3841000 usd
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
61227000 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
61227000 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
101000 usd
CY2022Q4 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
6938000 usd
CY2022Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
7039000 usd
CY2022 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-5300000 usd
CY2022Q3 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
0 usd
us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-5300000 usd
CY2023Q3 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
39825000 usd
CY2022Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
33219000 usd
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
94000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
94000 usd
CY2023Q3 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
39731000 usd
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
33125000 usd
CY2023Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
1215000 usd
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
3063000 usd
CY2023Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
9721000 usd
CY2022Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
7763000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
10936000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
10826000 usd
us-gaap Inventory Write Down
InventoryWriteDown
900000 usd
CY2023Q3 us-gaap Inventory Write Down
InventoryWriteDown
0 usd
CY2022Q3 us-gaap Inventory Write Down
InventoryWriteDown
0 usd
us-gaap Inventory Write Down
InventoryWriteDown
0 usd
CY2023Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10520000 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
6925000 usd
CY2023Q3 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
820000 usd
CY2022Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
1623000 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
11340000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
8548000 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1537000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1009000 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
737000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
616000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
800000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
393000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
46000 usd
us-gaap Depreciation
Depreciation
123000 usd
CY2022Q3 us-gaap Depreciation
Depreciation
100000 usd
us-gaap Depreciation
Depreciation
300000 usd
CY2023Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2022Q3 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2023Q3 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
556000 usd
CY2022Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
1524000 usd
CY2023Q3 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
5474000 usd
CY2022Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
5474000 usd
CY2023Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
21000 usd
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
136000 usd
CY2023Q3 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
6051000 usd
CY2022Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
7134000 usd
CY2023Q3 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P3Y
CY2023Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1100000 usd
CY2023Q2 lifx Operating Lease Liability Recognized Lease Modification
OperatingLeaseLiabilityRecognizedLeaseModification
1100000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
253000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
602000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
748000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
1796000 usd
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
200000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
700000 usd
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
600000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
1800000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1166000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
802000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
369000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
813000 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
810000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y1M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P0Y9M18D
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
135000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
379000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
390000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
366000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
91000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
1179000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
63033000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
15825000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
47208000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
61801000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
9102000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
52699000 usd
CY2023Q3 us-gaap Capitalized Computer Software Period Increase Decrease
CapitalizedComputerSoftwarePeriodIncreaseDecrease
400000 usd
us-gaap Capitalized Computer Software Period Increase Decrease
CapitalizedComputerSoftwarePeriodIncreaseDecrease
1200000 usd
CY2022Q3 us-gaap Capitalized Computer Software Period Increase Decrease
CapitalizedComputerSoftwarePeriodIncreaseDecrease
300000 usd
us-gaap Capitalized Computer Software Period Increase Decrease
CapitalizedComputerSoftwarePeriodIncreaseDecrease
700000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2200000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6700000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2200000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
6500000 usd
CY2023Q3 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 usd
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 usd
CY2022Q3 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 usd
us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
0 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
810000 usd
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0 usd
CY2023Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
810000 usd
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
576000 usd
CY2021Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
700000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2321000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
9336000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9256000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8701000 usd
CY2023Q3 lifx Finite Lived Intangible Asset Expected Amortization After Year Three
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearThree
17594000 usd
CY2023Q3 lifx Finite Lived Intangible Assets Net Excluding Assets Not Yet In Service
FiniteLivedIntangibleAssetsNetExcludingAssetsNotYetInService
47208000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
133700000 usd
CY2023Q3 us-gaap Goodwill
Goodwill
133700000 usd
CY2023Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q3 lifx Accrued Vendor Expenses Current
AccruedVendorExpensesCurrent
10240000 usd
CY2022Q4 lifx Accrued Vendor Expenses Current
AccruedVendorExpensesCurrent
4868000 usd
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2872000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3900000 usd
CY2023Q3 lifx Customer Related Promotions And Discounts Payable Current
CustomerRelatedPromotionsAndDiscountsPayableCurrent
4668000 usd
CY2022Q4 lifx Customer Related Promotions And Discounts Payable Current
CustomerRelatedPromotionsAndDiscountsPayableCurrent
10871000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
369000 usd
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
813000 usd
CY2023Q3 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
2159000 usd
CY2022Q4 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
2952000 usd
CY2023Q3 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2272000 usd
CY2022Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3611000 usd
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
22580000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
27015000 usd
lifx Noncash Adjustment Membership Benefit
NoncashAdjustmentMembershipBenefit
2200000 usd
CY2023Q3 lifx Deposit Liabilities Noncurrent
DepositLiabilitiesNoncurrent
0 usd
CY2022Q4 lifx Deposit Liabilities Noncurrent
DepositLiabilitiesNoncurrent
78000 usd
CY2023Q3 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
0 usd
CY2022Q4 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
498000 usd
CY2023Q3 us-gaap Convertible Debt
ConvertibleDebt
4513000 usd
CY2022Q4 us-gaap Convertible Debt
ConvertibleDebt
7573000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3365000 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 usd
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2110000 usd
CY2023Q3 lifx Long Term Debt Before Fair Value Adjustment
LongTermDebtBeforeFairValueAdjustment
5475000 usd
CY2023Q3 lifx Long Term Debt Fair Value Adjustment
LongTermDebtFairValueAdjustment
-962000 usd
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
4513000 usd
CY2021Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
700000 usd
CY2022 lifx Derivative Liability Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag
derivative liability
lifx Derivative Liability Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag
derivative liability
CY2023Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
300000 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
100000 usd
CY2023Q3 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
152700000 usd
CY2022Q4 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
138900000 usd
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
16766423 shares
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
16011495 shares
CY2023Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
137658 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
137658 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
8180840 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.05
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y7M9D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
40827000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
710074 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
5.68
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
499368 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
13.44
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6971398 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.71
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y11M15D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
67119000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5546645 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.49
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y11M4D
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
60149000 usd
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9454000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7963000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
27678000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
24487000 usd
CY2023Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-200000 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
200000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
73000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
84000 usd
CY2023Q3 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
-200000 usd
us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
200000 usd
CY2022Q3 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
0 usd
us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-96000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-6541000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-6541000 usd
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-6541000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-21119000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-21119000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-21119000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-25025000 usd
us-gaap Net Income Loss
NetIncomeLoss
-25025000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-25025000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-79326000 usd
us-gaap Net Income Loss
NetIncomeLoss
-79326000 usd
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-79326000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67091993 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67091993 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62173588 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62173588 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
66389483 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
66389483 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61753532 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61753532 shares
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.10
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.10
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.34
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.38
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.28
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.28
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16766423 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
16321328 shares

Files In Submission

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0001581760-23-000124.txt Edgar Link pending
0001581760-23-000124-xbrl.zip Edgar Link pending
exhibit311-life360q323xceo.htm Edgar Link pending
exhibit312-life360q323xcfo.htm Edgar Link pending
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exhibit322-life360q323xcfo.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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lifx-20230930_lab.xml Edgar Link unprocessable