March 26, 2020 / 2:40 AM / 6 days ago

BRIEF-Life360 Withdraws CY20 Forecast

March 26 (Reuters) - Life360 Inc:

* DURING Q1 OF 2020, LIFE360’S PERFORMANCE HAS REMAINED STRONG

* OVERALL REVENUE GROWTH FOR Q1 TO DATE IS MORE THAN 60% YOY

* THERE HAS BEEN NO MATERIAL CHANGE IN PREMIUM CANCELLATION RATES AS A CONSEQUENCE OF COVID-19

* CY20 Q1 RESULTS ARE EXPECTED TO BE BROADLY IN LINE WITH INTERNAL FORECASTS

* REMAINS CONFIDENT THAT IT WILL REDUCE OPERATING CASH OUTFLOW IN CY20 VERSUS CY19

* BELIEVE IT IS PRUDENT TO WITHDRAW PREVIOUS GUIDANCE FOR CY20 BUSINESS AND FINANCIAL PERFORMANCE

* DEMAND FOR LIFE360’S DATA PRODUCTS HAS REMAINED STRONG BUT DECREASED PEOPLE MOVEMENT COULD ADVERSELY IMPACT BUSINESS

* SCALING BACK PAID USER ACQUISITION UNTIL FAMILIES ARE NO LONGER SHELTERING IN PLACE Source text for Eikon: Further company coverage:

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