2024 Q2 Form 10-Q Financial Statement

#000158176024000031 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $84.86M $78.23M
YoY Change 19.88% 14.8%
Cost Of Revenue $21.24M $18.21M
YoY Change 32.69% -0.54%
Gross Profit $63.63M $60.01M
YoY Change 16.14% 20.44%
Gross Profit Margin 74.97% 76.72%
Selling, General & Admin $38.98M $39.13M
YoY Change 8.74% 4.29%
% of Gross Profit 61.26% 65.21%
Research & Development $27.01M $27.26M
YoY Change 16.53% 0.22%
% of Gross Profit 42.46% 45.42%
Depreciation & Amortization $49.00K $2.295M
YoY Change 22.5% 0.97%
% of Gross Profit 0.08% 3.82%
Operating Expenses $65.99M $66.39M
YoY Change 11.8% 2.58%
Operating Profit -$2.363M -$6.379M
YoY Change -44.31% -57.16%
Interest Expense $1.924M -$1.707M
YoY Change -857.48% -12292.86%
% of Operating Profit
Other Income/Expense, Net -$3.123M -$2.004M
YoY Change -3319.59% -315.72%
Pretax Income -$5.486M -$8.383M
YoY Change 32.32% -39.96%
Income Tax $5.500M $1.400M
% Of Pretax Income
Net Earnings -$10.96M -$9.777M
YoY Change 148.45% -30.52%
Net Earnings / Revenue -12.92% -12.5%
Basic Earnings Per Share -$0.15 -$0.14
Diluted Earnings Per Share -$0.15 -$0.14
COMMON SHARES
Basic Shares Outstanding 69.63M shares 68.29M shares
Diluted Shares Outstanding 70.76M shares 68.54M shares

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $160.8M $73.40M
YoY Change 157.66% 19.56%
Cash & Equivalents $160.8M $73.40M
Short-Term Investments
Other Short-Term Assets $10.07M $13.22M
YoY Change 20.76% -40.8%
Inventory $5.545M $6.338M
Prepaid Expenses $10.07M $13.22M
Receivables $40.63M $37.04M
Other Receivables $432.0K $503.0K
Total Short-Term Assets $218.4M $131.5M
YoY Change 85.88% 4.6%
LONG-TERM ASSETS
Property, Plant & Equipment $1.749M $684.0K
YoY Change 110.98% -9.4%
Goodwill $133.7M $133.7M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $21.00K $21.00K
YoY Change 0.0% -58.82%
Total Long-Term Assets $187.5M $187.3M
YoY Change -3.49% -4.16%
TOTAL ASSETS
Total Short-Term Assets $218.4M $131.5M
Total Long-Term Assets $187.5M $187.3M
Total Assets $405.9M $318.8M
YoY Change 30.19% -0.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.03M $9.388M
YoY Change 41.06% -1.36%
Accrued Expenses $27.04M $19.37M
YoY Change 63.05% 34.39%
Deferred Revenue $35.46M $35.51M
YoY Change 14.15% 17.82%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $4.057M
YoY Change -100.0% -16.69%
Total Short-Term Liabilities $77.63M $74.02M
YoY Change 13.0% -8.17%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.161M
YoY Change -100.0% -58.64%
Other Long-Term Liabilities $660.0K $634.0K
YoY Change -52.07% 27.57%
Total Long-Term Liabilities $660.0K $634.0K
YoY Change -52.07% 27.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $77.63M $74.02M
Total Long-Term Liabilities $660.0K $634.0K
Total Liabilities $79.22M $78.94M
YoY Change 6.92% -8.54%
SHAREHOLDERS EQUITY
Retained Earnings -$305.9M -$294.9M
YoY Change 11.05% 8.81%
Common Stock $74.00K $71.00K
YoY Change 8.82% 4.41%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $326.7M $239.8M
YoY Change
Total Liabilities & Shareholders Equity $405.9M $318.8M
YoY Change 30.19% -0.73%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$10.96M -$9.777M
YoY Change 148.45% -30.52%
Depreciation, Depletion And Amortization $49.00K $2.295M
YoY Change 22.5% 0.97%
Cash From Operating Activities $3.252M $10.69M
YoY Change -11.41% -216.19%
INVESTING ACTIVITIES
Capital Expenditures $1.234M $0.00
YoY Change 138.68% -100.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.234M -$1.089M
YoY Change 138.68% 191.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 85.39M -$5.709M
YoY Change -665.75% 21.39%
NET CHANGE
Cash From Operating Activities 3.252M $10.69M
Cash From Investing Activities -1.234M -$1.089M
Cash From Financing Activities 85.39M -$5.709M
Net Change In Cash 87.41M $3.890M
YoY Change -832.11% -127.25%
FREE CASH FLOW
Cash From Operating Activities $3.252M $10.69M
Capital Expenditures $1.234M $0.00
Free Cash Flow $2.018M $10.69M
YoY Change -36.02% -215.86%

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IncreaseDecreaseInAccountsReceivable
-2145000 usd
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3272000 usd
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1340000 usd
CY2024Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2239000 usd
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-1113000 usd
CY2024Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
398000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
498000 usd
CY2024Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3492000 usd
CY2023Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4274000 usd
CY2024Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-3073000 usd
CY2023Q1 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-4628000 usd
CY2024Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
1381000 usd
CY2023Q1 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
189000 usd
CY2024Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
-89000 usd
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
0 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
10688000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9199000 usd
CY2024Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
1089000 usd
CY2023Q1 us-gaap Payments To Develop Software
PaymentsToDevelopSoftware
348000 usd
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
26000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1089000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-374000 usd
CY2024Q1 lifx Proceeds From Stock Options And Warrants Exercised
ProceedsFromStockOptionsAndWarrantsExercised
2401000 usd
CY2023Q1 lifx Proceeds From Stock Options And Warrants Exercised
ProceedsFromStockOptionsAndWarrantsExercised
714000 usd
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8110000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5731000 usd
CY2024Q1 lifx Proceeds From Collection Of Stockholder Notes Receivable
ProceedsFromCollectionOfStockholderNotesReceivable
0 usd
CY2023Q1 lifx Proceeds From Collection Of Stockholder Notes Receivable
ProceedsFromCollectionOfStockholderNotesReceivable
314000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-5709000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-4703000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3890000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-14276000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
70713000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
90365000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
74603000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76089000 usd
CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
56000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
73401000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
61394000 usd
CY2024Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
0 usd
CY2023Q1 us-gaap Restricted Cash Current
RestrictedCashCurrent
13094000 usd
CY2024Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1202000 usd
CY2023Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1601000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
74603000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
76089000 usd
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<div style="margin-top:6pt;text-align:justify"><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><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </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 connecting millions of people throughout the world to the people, pets and things they care about most. The Company has created a new category at the intersection of family, technology, and safety to help keep families connected and safe. The Company’s core offering, the Life360 mobile application, includes features like communications, driving safety, digital safety and location sharing. Beyond the everyday, Life360 also provides much-needed protection and saves lives, which is crucial for families in emergency situations such as natural disasters, vehicle collisions, physical property theft, and digital identity theft. The Life360 mobile application operates under a “freemium” model where its core offering is available to members at no charge, with three membership subscription options that are available but not required.</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 Company acquired Jio, Inc. (“Jiobit”) and Tile, Inc, (“Tile”) in September 2021 and January 2022, respectively, to create a comprehensive platform-agnostic location tracking solution for people, pets and things. Jiobit is a leading wearable location device for young children, pets and seniors and Tile is a leading product suite of location trackers for finding objects.</span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company’s suite of product and service offerings, including the Life360 and Tile mobile applications, and related third-party services, is system and platform-agnostic, allowing its products and services to work seamlessly for members, regardless of the devices they use.</span>
CY2024Q1 lifx Number Of Membership Subscription Options
NumberOfMembershipSubscriptionOptions
3 subscription_option
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:15pt;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 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><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 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.</span></div>
CY2024Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1200000 usd
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
1700000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
78227000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
68143000 usd
CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
18400000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
16800000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
36700000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
35500000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2023Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1844000 usd
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
2063000 usd
CY2024Q1 lifx Capitalized Contract Cost Additions
CapitalizedContractCostAdditions
398000 usd
CY2023Q1 lifx Capitalized Contract Cost Additions
CapitalizedContractCostAdditions
499000 usd
CY2023Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
439000 usd
CY2024Q1 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1901000 usd
CY2023Q1 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
2123000 usd
CY2024Q1 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
42528000 usd
CY2024Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
42528000 usd
CY2024Q1 us-gaap Derivative Liabilities
DerivativeLiabilities
1924000 usd
CY2024Q1 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
4057000 usd
CY2024Q1 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
5981000 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
41981000 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
41981000 usd
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
217000 usd
CY2023Q4 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
3449000 usd
CY2023Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
3666000 usd
CY2024Q1 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
37130000 usd
CY2023Q4 us-gaap Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
42274000 usd
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
94000 usd
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
94000 usd
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
37036000 usd
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
42180000 usd
CY2024Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
18000 usd
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
298000 usd
CY2024Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
6320000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
3801000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
6338000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
4099000 usd
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
13217000 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
14520000 usd
CY2024Q1 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
503000 usd
CY2023Q4 us-gaap Other Receivables Net Current
OtherReceivablesNetCurrent
654000 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
13720000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
15174000 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1514000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1514000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
830000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
784000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
684000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
730000 usd
CY2024Q1 us-gaap Depreciation
Depreciation
46000 usd
CY2023Q1 us-gaap Depreciation
Depreciation
37000 usd
CY2024Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2023Q1 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2024Q1 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
111000 usd
CY2023Q4 us-gaap Prepaid Expense Noncurrent
PrepaidExpenseNoncurrent
1353000 usd
CY2024Q1 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
5474000 usd
CY2023Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures
5474000 usd
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
21000 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
21000 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
5606000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Noncurrent
PrepaidExpenseAndOtherAssetsNoncurrent
6848000 usd
CY2024Q1 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P2Y8M12D
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
110000 usd
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
245000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
100000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
300000 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
933000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1014000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
342000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
335000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
634000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
723000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y8M12D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y10M24D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
285000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
390000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
367000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1042000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
66000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
976000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
64606000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
20325000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
44281000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
63516000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
18075000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
45441000 usd
CY2024Q1 us-gaap Capitalized Computer Software Period Increase Decrease
CapitalizedComputerSoftwarePeriodIncreaseDecrease
1100000 usd
CY2023Q1 us-gaap Capitalized Computer Software Period Increase Decrease
CapitalizedComputerSoftwarePeriodIncreaseDecrease
300000 usd
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2200000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2200000 usd
CY2024Q1 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
CY2023Q1 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
6750000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
8913000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
8470000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
4274000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
4225000 usd
CY2024Q1 lifx Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
9012000 usd
CY2024Q1 lifx Finite Lived Intangible Assets Net Excluding Amounts Not Yet In Service
FiniteLivedIntangibleAssetsNetExcludingAmountsNotYetInService
41644000 usd
CY2024Q1 lifx Finite Lived Intangible Assets Net Assets Not Yet In Service
FiniteLivedIntangibleAssetsNetAssetsNotYetInService
2637000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
44281000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
133700000 usd
CY2024Q1 us-gaap Goodwill
Goodwill
133700000 usd
CY2023Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2024Q1 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2024Q1 lifx Accrued Vendor Expenses Current
AccruedVendorExpensesCurrent
11815000 usd
CY2023Q4 lifx Accrued Vendor Expenses Current
AccruedVendorExpensesCurrent
10020000 usd
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4314000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3349000 usd
CY2024Q1 lifx Customer Related Promotions And Discounts Payable Current
CustomerRelatedPromotionsAndDiscountsPayableCurrent
3223000 usd
CY2023Q4 lifx Customer Related Promotions And Discounts Payable Current
CustomerRelatedPromotionsAndDiscountsPayableCurrent
9049000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
342000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
335000 usd
CY2024Q1 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
2899000 usd
CY2023Q4 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
3285000 usd
CY2024Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
2470000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1500000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
25063000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
27538000 usd
CY2021Q3 us-gaap Derivative Liabilities
DerivativeLiabilities
700000 usd
CY2024Q1 us-gaap Convertible Debt
ConvertibleDebt
5218000 usd
CY2023Q4 us-gaap Convertible Debt
ConvertibleDebt
4505000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3365000 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2110000 usd
CY2024Q1 lifx Long Term Debt Before Fair Value Adjustment
LongTermDebtBeforeFairValueAdjustment
5475000 usd
CY2024Q1 lifx Long Term Debt Fair Value Adjustment
LongTermDebtFairValueAdjustment
-257000 usd
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
5218000 usd
CY2021Q3 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
700000 usd
CY2024Q1 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
1900000 usd
CY2023Q4 us-gaap Derivative Liabilities Noncurrent
DerivativeLiabilitiesNoncurrent
200000 usd
CY2024Q1 us-gaap Purchase Obligation Future Minimum Payments Remainder Of Fiscal Year
PurchaseObligationFutureMinimumPaymentsRemainderOfFiscalYear
21409000 usd
CY2024Q1 us-gaap Purchase Obligation Due In Next Twelve Months
PurchaseObligationDueInNextTwelveMonths
25000000 usd
CY2024Q1 us-gaap Purchase Obligation Due In Second Year
PurchaseObligationDueInSecondYear
25500000 usd
CY2024Q1 us-gaap Purchase Obligation Due In Third Year
PurchaseObligationDueInThirdYear
26000000 usd
CY2024Q1 us-gaap Purchase Obligation
PurchaseObligation
97909000 usd
CY2024Q1 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
32699722 shares
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
30154209 shares
CY2024Q1 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
95973 shares
CY2024Q1 lifx Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
41685 shares
CY2024Q1 lifx Class Of Warrant Or Right Exercise Price Of Warrants Or Rights Exercised
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRightsExercised
2.28
CY2023Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
137658 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6625812 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.57
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y8M12D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
59957000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
277309 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.32
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
161559 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
15.29
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6186944 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
6.26
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y7M6D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
119570000 usd
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5327732 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.39
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y6M
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
107623000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8261000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8955000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1400000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000 usd
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1400000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000 usd
CY2024Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
700000 usd
CY2023Q1 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
0 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-9777000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9777000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-9777000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-14071000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-14071000 usd
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-14071000 usd
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
68535626 shares
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
68535626 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65592780 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65592780 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12017356 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13472302 shares

Files In Submission

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0001581760-24-000031.txt Edgar Link pending
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