Family social networking platform Life360 has access to its money at Silicon Valley Bank and expects to start growing its funds next quarter.
Life360 expects to be cashflow positive by Q2
After a tumultuous few days, ASX-listed family social networking platform Life360 has gained access to the millions of dollars it had with Silicon Valley Bank.
It’s next order of business will be starting to grow that cash balance, as soon as next quarter, rather than seeing it shrink like so many other unprofitable tech companies.
The company expected to be operating cashflow break-even by next quarter, CEO Chris Hull told AAP on Friday in a Zoom call following the release of its full-year financial results.
“That is obviously a pretty big milestone because cash balances will be going up, not down. I think there was some level of investor scepticism that we’d be able to do that and still maintain the numbers. But we knew we could, we did it it during COVID.