Life360 Inc (LIF) shares soared 5.89% in the pre-market session on Friday, driven by a positive market reaction to the company's strong fourth-quarter 2024 results and upbeat outlook for 2025.

The family location-sharing app provider reported record revenue growth of 33% year-over-year in Q4 2024, fueled by a 32% increase in subscription revenue and a 13% rise in hardware revenue. The company achieved profitability, with net income of $8.5 million, compared to a loss in the prior-year period, and adjusted EBITDA of $21.2 million.

For the full year 2024, Life360 reported a 22% increase in revenue to $371.5 million, driven by a 25% growth in its paying subscriber base, which reached nearly 2.3 million. The company also achieved record positive adjusted EBITDA of $45.5 million.

Looking ahead, Life360 provided an optimistic outlook for 2025, forecasting consolidated revenue of $450 million to $480 million and positive adjusted EBITDA of $65 million to $75 million.

Additionally, Life360 announced the acquisition of the advertising unit of Fantix, an AI platform for targeted advertising, which could open new revenue streams and growth opportunities. The company also unveiled plans to develop a device for monitoring elderly parents, demonstrating its efforts to innovate and expand its product offerings.

Positive analyst coverage, including a Buy rating and a price target of $55 from JMP Securities, further fueled investor confidence in Life360's stock.