AndyCrebar.com - Life360 Growth Efficiency Export

	B	C	D	E	F	G	H	I	J	K	L	M	N	O	P	Q	R	S
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2	AndyCrebar.com - a monthly newsletter on ASX listed technology companies.
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4	Life360 Unit Economics

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6	Total Life360 Uses today	33,800,000
7	Number of Paying Circles	1,100,000
8	Paying Circles penetration %	3.3%
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10		Cohort Acquired									Cohort Today							Four Years
11	Quarter	June 30 2019	9/30/2019	12/31/2019	3/31/2020	6/30/2020	9/30/2020	12/31/2020	3/31/2021	6/30/2021	9/30/2021	12/31/2021	3/31/2022	6/30/2022	9/30/2022	12/31/2022	3/31/2023	6/30/2023
12	Month	0	3	6	9	12	15	18	21	24	27	30	33	36	39	42	45	48
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14	Paid acquisition spend in Q2 2019	$5,000,000
15	Life360 users acquired	2,500,000
16	Cost per paid user	$2.0	This is the paid CAC for each user they got to install the app
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18	User Retention	60%	55%	50%	45%	40%	35%	35%	35%	35%	35%	35%	35%	35%	35%	35%	35%	35%
19	Users retained	1,500,000	1,375,000	1,250,000	1,125,000	1,000,000	875,000	875,000	875,000	875,000	875,000	875,000	875,000	875,000	875,000	875,000	875,000	875,000
20	Sniff test: Implied % of today's total users									What % of total uses implied from this cohort	2.6%
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22	Estimated Paying Circles formed	81,361
23	Circle Retention	80%	75%	70%	65%	60%	55%	50%	45%	40%	35%	35%	35%	35%	35%	35%	35%	35%
24	Remaining Circles	65,089	61,021	56,953	52,885	48,817	44,749	40,680	36,612	32,544	28,476	28,476	28,476	28,476	28,476	28,476	28,476	28,476
25	Paying Circles penetration %	4.3%	4.4%	4.6%	4.7%	4.9%	5.1%	4.6%	4.2%	3.7%	3.3%	3.3%	3.3%	3.3%	3.3%	3.3%	3.3%	3.3%
26	Sniff test: Implied % of today's total circles									What % of total circles implied from this cohort	2.6%
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28	Average Revenue pey Paying Circle (ARPPC)	$80	$81	$81	$82	$82	$83	$84	$84	$85	$85	$86	$87	$87	$88	$88	$89	$90
29	Quarterly Revenue pey Paying Circle (QRPPC)	$20	$20	$20	$20	$21	$21	$21	$21	$21	$21	$22	$22	$22	$22	$22	$22	$22
30	Revenue $	$1,301,775	$1,229,567	$1,156,139	$1,081,490	$1,005,621	$928,532	$850,222	$770,692	$689,941	$607,970	$612,241	$616,513	$620,784	$625,055	$629,327	$633,598	$637,870
31	Sense check: Implied % of today's $100m AMR									What % of total revenue implied from this cohort	7%
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33	Gross Margin %	81%	81%	82%	82%	83%	83%	84%	84%	85%	85%	85%	85%	85%	85%	85%	85%	85%
34	Gross Margin $	$1,050,945	$998,798	$944,932	$889,327	$831,967	$772,832	$711,905	$649,166	$584,598	$516,774	$520,405	$524,036	$527,666	$531,297	$534,928	$538,559	$542,189
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36	Cumulative Gross Profit	$1,050,945	$2,049,742	$2,994,674	$3,884,001	$4,715,968	$5,488,801	$6,200,706	$6,849,872	$7,434,470	$7,951,244	$8,471,649	$8,995,685	$9,523,351	$10,054,649	$10,589,576	$11,128,135	$11,670,324
37	Payback	0.2x	0.4x	0.6x	0.8x	0.9x	1.1x	1.2x	1.4x	1.5x	1.6x	1.7x	1.8x	1.9x	2.0x	2.1x	2.2x	2.3x
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39	Chart Data
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41	Month	M0	M3	M6	M9	M12	M15	M18	M21	M24	M27	M30	M33	M36	M39	M42	M45	M48
42	Cumulative Cohort Gross Profit	$1	$2	$3	$4	$5	$5	$6	$7	$7	$8	$8	$9	$10	$10	$11	$11	$12
43	Paid acquisition spend	-$5
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45	Sources		Chart Data
46	CY21 Half Year Results (retention curve)
47	June 2019 Quarterly Business Update (initial cohort costs)
48	CY21 Half Year Report (gross margins)
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