Life360, Inc. 10-Q

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 1 Table of Contents Life360, Inc. Condensed Consolidated Balance Sheets (Dollars in U.S. $, in thousands, except share and per share data) (unaudited) June 30, 2026 December 31, 2025 Assets Current Assets: Cash and cash equivalents $ 267,061 $ 494,261 Restricted cash, current 1,001 — Short-term investments 197,923 — Accounts receivable, net (1) 98,553 80,715 Inventory 14,709 9,867 Costs capitalized to obtain contracts, net 1,148 1,211 Prepaid expenses and other current assets 19,102 20,050 Total current assets 599,497 606,104 Restricted cash, noncurrent 1,690 1,567 Property and equipment, net 2,735 3,019 Costs capitalized to obtain contracts, noncurrent 827 869 Prepaid expenses and other assets, noncurrent (2)(3) 46,435 48,480 Operating lease right-of-use asset 155 335 Intangible assets, net 77,481 38,277 Goodwill 173,609 134,619 Deferred tax assets, net 149,490 126,418 Total Assets $ 1,051,919 $ 959,688 Liabilities and Stockholders’ Equity Current Liabilities: Accounts payable $ 15,545 $ 8,411 Accrued expenses and other current liabilities 43,261 42,002 Deferred revenue, current (4) 48,230 46,377 Total current liabilities 107,036 96,790 Convertible notes, net, noncurrent 311,475 310,386 Deferred revenue, noncurrent (5) 3,314 4,330 Other liabilities, noncurrent 16,663 — Total Liabilities $ 438,488 $ 411,506 Commitments and Contingencies (Note 10) Stockholders’ Equity Common Stock, $ 0.001 par value; 500,000,000 authorized as of June 30, 2026 and December 31, 2025; 81,531,092 issued and 81,216,330 outstanding as of June 30, 2026 and 79,359,589 issued and outstanding as of December 31, 2025 82 79 Additional paid-in capital 757,687 686,921 Accumulated deficit ( 131,026 ) ( 138,866 ) Accumulated other comprehensive income (loss) ( 87 ) 48 Treasury stock, at cost; 314,762 and 0 shares as of June 30, 2026 and December 31, 2025, respectively ( 13,225 ) — Total stockholders’ equity 613,431 548,182 Total Liabilities and Stockholders’ Equity $ 1,051,919 $ 959,688 (1) Includes related party receivables of $ 64 and $ 3 as of June 30, 2026, and December 31, 2025, respectively. (2) Includes $ 19,999 and $ 24,726 measured using the fair value option as of June 30, 2026, and December 31, 2025, respectively, related to the Convertible Note Investment. Refer to Note 6, "Fair Value Measurements" for additional information. (3) I ncludes