Life360, Inc. Common Stock (LIF) 10-Q 15 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 15, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	000-56424
Entity Registrant Name	Life360, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0197666
Entity Address, Address Line One	539 Bryant Street
Entity Address, Address Line Two	Suite 402
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94107
City Area Code	415
Local Phone Number	484-5244
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		62,110,448
Entity Central Index Key	0001581760
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 64,264	$ 230,990
Accounts receivable, net	19,544	11,772
Costs capitalized to obtain contracts, net	1,582	1,319
Inventory	11,138	2,009
Prepaid expenses and other current assets	11,149	10,590
Total current assets	107,677	256,680
Restricted cash	15,056	355
Property and equipment, net	661	580
Costs capitalized to obtain contracts, net of current portion	196	330
Prepaid expenses and other assets, noncurrent	8,050	3,691
Right-of-use-asset	2,024	1,627
Intangible assets, net	56,822	7,986
Goodwill	133,244	31,127
Total Assets	323,730	302,376
Current Liabilities:
Accounts payable	11,429	3,248
Accrued expenses and other liabilities	29,413	10,547
Escrow liability	13,094	0
Contingent consideration	0	9,500
Convertible notes, current ($3,392 and $4,222 measured at fair value, respectively)	3,392	4,222
Deferred revenue, current	24,835	13,929
Total current liabilities	82,163	41,446
Convertible notes, noncurrent ($6,667 and $8,071 measured at fair value, respectively)	7,089	8,284
Derivative liability, noncurrent	68	1,396
Deferred revenue, noncurrent	3,472	0
Other noncurrent liabilities	1,285	1,205
Total Liabilities	94,077	52,331
Commitments and Contingencies (Note 11)
Stockholders’ Equity
Common Stock, $0.001 par value; 100,000,000 shares authorized as of June 30, 2022 (unaudited) and December 31, 2021; 62,087,105 and 60,221,799 issued and outstanding as of June 30, 2022 (unaudited) and December 31, 2021, respectively	62	61
Additional paid-in capital	453,437	416,278
Notes due from affiliates	(311)	(951)
Accumulated deficit	(223,550)	(165,343)
Accumulated other comprehensive income	15	0
Total stockholders’ equity	229,653	250,045
Total Liabilities and Stockholders’ Equity	$ 323,730	$ 302,376

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, issued (in shares)	62,087,105	60,221,799
Common stock, outstanding (in shares)	62,087,105	60,221,799
Convertible notes, current, measured at fair value	$ 3,392	$ 4,222
Convertible notes, noncurrent, measured at fair value	$ 6,667	$ 8,071

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Total revenue	$ 48,844,000	$ 25,009,000	$ 99,814,000	$ 48,001,000
Total cost of revenue	19,556,000	4,760,000	35,408,000	9,249,000
Gross Profit	29,288,000	20,249,000	64,406,000	38,752,000
Operating expenses:
Research and development	27,031,000	12,016,000	52,768,000	22,708,000
Sales and marketing	22,895,000	10,586,000	46,137,000	18,796,000
General and administrative	12,830,000	4,454,000	26,076,000	7,907,000
Total operating expenses	62,756,000	27,056,000	124,981,000	49,411,000
Loss from operations	(33,468,000)	(6,807,000)	(60,575,000)	(10,659,000)
Other income (expense):
Convertible notes fair value adjustment	532,000	0	2,107,000	0
Derivative liability fair value adjustment	415,000	0	1,328,000	0
Other income (expense), net	(511,000)	3,000	(1,056,000)	3,000
Total other income (expense), net	436,000	3,000	2,379,000	3,000
Loss before income taxes	(33,032,000)	(6,804,000)	(58,196,000)	(10,656,000)
Provision (benefit) for income taxes	(47,000)	0	11,000	0
Net Loss	$ (32,985,000)	$ (6,804,000)	$ (58,207,000)	$ (10,656,000)
Net loss per share, basic (in usd per share)	$ (0.53)	$ (0.13)	$ (0.95)	$ (0.21)
Net loss per share, diluted (in usd per share)	$ (0.53)	$ (0.13)	$ (0.95)	$ (0.21)
Weighted-average shares used in computing net loss per share, basic (in shares)	61,883,022	50,405,267	61,540,024	50,298,528
Weighted-average shares used in computing net loss per share, diluted (in shares)	61,883,022	50,405,267	61,540,024	50,298,528
Comprehensive loss
Net loss	$ (32,985,000)	$ (6,804,000)	$ (58,207,000)	$ (10,656,000)
Change in foreign currency translation adjustment	(14,000)	0	15,000	0
Total comprehensive loss	(32,999,000)	(6,804,000)	(58,192,000)	(10,656,000)
Subscription
Total revenue	36,006,000	19,237,000	69,068,000	36,369,000
Total cost of revenue	7,903,000	3,786,000	14,974,000	7,520,000
Hardware
Total revenue	6,816,000	0	16,463,000	0
Total cost of revenue	10,773,000	0	18,579,000	0
Other
Total revenue	6,022,000	5,772,000	14,283,000	11,632,000
Total cost of revenue	$ 880,000	$ 974,000	$ 1,855,000	$ 1,729,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Notes Due from Affiliates	Accumulated Deficit	Accumulated Other Comprehensive Income
Beginning balance (in shares) at Dec. 31, 2020		50,035,408
Beginning balance at Dec. 31, 2020	$ 64,189	$ 50	$ 196,852	$ (927)	$ (131,786)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		126,497
Exercise of stock options	498		498
Vesting of restricted stock units (in shares)		109,482
Taxes paid related to net settlement of equity awards	(586)		(586)
Stock-based compensation expense	2,199		2,199
Interest accrued relating to notes due from affiliates	(9)			(9)
Net loss	(3,852)				(3,852)
Ending balance (in shares) at Mar. 31, 2021		50,271,387
Ending balance at Mar. 31, 2021	62,439	$ 50	198,963	(936)	(135,638)
Beginning balance (in shares) at Dec. 31, 2020		50,035,408
Beginning balance at Dec. 31, 2020	64,189	$ 50	196,852	(927)	(131,786)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(10,656)
Change in foreign currency translation adjustment	0
Ending balance (in shares) at Jun. 30, 2021		50,729,047
Ending balance at Jun. 30, 2021	58,111	$ 50	201,445	(942)	(142,442)
Beginning balance (in shares) at Mar. 31, 2021		50,271,387
Beginning balance at Mar. 31, 2021	62,439	$ 50	198,963	(936)	(135,638)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		287,745
Exercise of stock options	790		790
Vesting of restricted stock units (in shares)		169,915
Taxes paid related to net settlement of equity awards	(1,249)		(1,249)
Stock-based compensation expense	2,941		2,941
Interest accrued relating to notes due from affiliates	(6)			(6)
Net loss	(6,804)				(6,804)
Change in foreign currency translation adjustment	0
Ending balance (in shares) at Jun. 30, 2021		50,729,047
Ending balance at Jun. 30, 2021	$ 58,111	$ 50	201,445	(942)	(142,442)
Beginning balance (in shares) at Dec. 31, 2021	60,221,799	60,221,799
Beginning balance at Dec. 31, 2021	$ 250,045	$ 61	416,278	(951)	(165,343)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		277,995
Exercise of stock options	1,508		1,508
Exercise of warrants (in shares)		66,892
Vesting of restricted stock units (in shares)		124,059
Taxes paid related to net settlement of equity awards	(716)		(716)
Issuance of common stock in connection with an acquisition (in shares)		779,032
Issuance of common stock in connection with an acquisition	15,409	$ 1	15,408
Issuance of common stock	85		85
Stock-based compensation expense	6,095		6,095
Interest accrued relating to notes due from affiliates	(5)			(5)
Net loss	(25,222)				(25,222)
Change in foreign currency translation adjustment	29					29
Ending balance (in shares) at Mar. 31, 2022		61,469,777
Ending balance at Mar. 31, 2022	$ 247,228	$ 62	438,658	(956)	(190,565)	29
Beginning balance (in shares) at Dec. 31, 2021	60,221,799	60,221,799
Beginning balance at Dec. 31, 2021	$ 250,045	$ 61	416,278	(951)	(165,343)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	334,578
Net loss	$ (58,207)
Change in foreign currency translation adjustment	$ 15
Ending balance (in shares) at Jun. 30, 2022	62,087,105	62,087,105
Ending balance at Jun. 30, 2022	$ 229,653	$ 62	453,437	(311)	(223,550)	15
Beginning balance (in shares) at Mar. 31, 2022		61,469,777
Beginning balance at Mar. 31, 2022	247,228	$ 62	438,658	(956)	(190,565)	29
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		56,583
Exercise of stock options	258		258
Exercise of warrants (in shares)		20,903
Exercise of warrants	1		1
Vesting of restricted stock units (in shares)		179,118
Taxes paid related to net settlement of equity awards	(778)		(778)
Stock-based compensation expense	10,429		10,429
Interest accrued relating to notes due from affiliates	(3)			(3)
Repayment of notes due from affiliates	1,296		648	648
Issuance of common stock in settlement of contingent consideration (in shares)		360,724
Issuance of common stock in settlement of contingent consideration	4,221		4,221
Net loss	(32,985)				(32,985)
Change in foreign currency translation adjustment	$ (14)					(14)
Ending balance (in shares) at Jun. 30, 2022	62,087,105	62,087,105
Ending balance at Jun. 30, 2022	$ 229,653	$ 62	$ 453,437	$ (311)	$ (223,550)	$ 15

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows from Operating Activities:
Net loss	$ (58,207)	$ (10,656)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	4,502	224
Amortization of costs capitalized to obtain contracts	1,671	2,255
Stock-based compensation expense	16,524	5,140
Compensation expense in connection with revesting notes (Note 7)	(114)	0
Noncash interest (income) expense, net	239	(12)
Convertible notes fair value adjustment	(2,107)	0
Derivative liability fair value adjustment	(1,328)	0
Gain on revaluation of contingent consideration	(5,279)	0
Noncash revenue from affiliate	(511)	0
Changes in operating assets and liabilities:
Accounts receivable, net	20,054	(2,989)
Prepaid expenses and other assets	6,597	3,526
Inventory	(1,605)	0
Costs capitalized to obtain contracts, net	(1,799)	(1,048)
Accounts payable	(15,016)	(1,513)
Accrued expenses and other liabilities	(3,062)	793
Deferred revenue	507	158
Other noncurrent liabilities	406	(797)
Net cash used in operating activities	(38,528)	(4,919)
Cash Flows from Investing Activities:
Cash paid for acquisition, net of cash acquired	(113,401)	0
Internal use software	(396)	0
Cash advance on convertible note receivable	0	(2,500)
Net cash used in investing activities	(113,797)	(2,500)
Cash Flows from Financing Activities:
Proceeds from the exercise of options	1,766	1,288
Taxes paid related to net settlement of equity awards	(1,494)	(1,835)
Issuance of common stock	85	0
Cash paid for deferred offering costs	(705)	0
Proceeds from repayment of notes due from affiliates	648	0
Cash received in advance of the issuance of convertible notes	0	2,110
Net cash provided by financing activities	300	1,563
Net Decrease in Cash, Cash Equivalents, and Restricted Cash	(152,025)	(5,856)
Cash, Cash Equivalents and Restricted Cash at the Beginning of the Period	231,345	56,611
Cash, Cash Equivalents, and Restricted Cash at the End of the Period	79,320	50,755
Non-cash investing and financing activities:
Fair value of stock issued in connection with an acquisition	15,409	0
Fair value of warrants held as investment in affiliate	5,474	0
Fair value of stock issued in settlement of contingent consideration	4,221	0
Total non-cash investing and financing activities:	25,104	0
Cash, cash equivalents and restricted cash
Cash and cash equivalents	64,264	50,558
Restricted cash	15,056	197
Total cash, cash equivalents, and restricted cash	$ 79,320	$ 50,755

Nature of Business

Nature of Business	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of BusinessLife360, Inc. (the “Company”) is a leading technology platform, based on market share of the family safety and location sharing app market, to locate the people, pets and things that matter most to families. Refer to “Market and Industry Data” within our Registration Statement on Form 10 filed with the Securities and Exchange Commission on April 26, 2022, as amended by Amendment No. 1 filed on June 13, 2022 and Amendment No. 2 filed on July 5, 2022, and effective as of June 27, 2022 (“Form 10”), for more information on how we can calculate market share. The Company was incorporated in the State of Delaware in April 2007. The Company’s core offering, the Life360 mobile application, is now a market leading mobile application for families, with features that range from communications to driving safety and location sharing. The Company operates under a “freemium” model where its core offering is available to users at no charge, with three membership subscription options that are available but not required. The Company also generates revenue through monetization arrangements with certain commercial third parties (“Data Revenue Partners”) through Lead Gen and license agreements (including aggregated insights into the data collected from the Company’s user base). On September 1, 2021, the Company acquired all ownership interests of Jio, Inc (“Jiobit”). Jiobit is a provider of wearable location devices for young children, pets, and seniors. On January 5, 2022, the Company acquired all ownership interests of Tile, Inc. (“Tile”). Tile is a smart location company whose product is a Bluetooth enabled device that works in tandem with the Tile Application to enable its customers to locate lost or misplaced objects.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation and Consolidation The unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with generally accepted accounting principles in the United States, or (“GAAP”), are presented in U.S. dollars unless otherwise stated, and include the accounts of Life360, Inc. and subsidiaries, Jio, Inc., Tile, Inc., Tile Europe Ltd and Tile Network Canada ULC. All inter-company transactions and balances have been eliminated. In management’s opinion, the condensed consolidated financial statements include all adjustments necessary to fairly state the Company’s financial position. The information contained within the condensed consolidated financial statements should be read in conjunction with the Company's consolidated financial statements and notes thereto included in the Company’s annual financial statements for the year ended December 31, 2021. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amount of revenue and expenses during the reporting period. Significant estimates made by management include, but are not limited to, the determination of revenue recognition, including the determination of selling prices for distinct performance obligations sold in multiple-performance obligation arrangements, the period over which revenue is recognized for certain arrangements, and estimated delivery dates for orders with title transfer upon delivery, accounts receivable allowance, product returns, promotional and marketing allowances, inventory valuation, average useful customer life, stock-based compensation, legal contingencies, assessment of possible impairment of long-lived assets and goodwill, valuation of contingent consideration, convertible notes and embedded derivatives, useful lives of long lived assets and income taxes including valuation allowances on deferred tax assets. The Company bases its estimates and judgments on historical experience and on various assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from those estimates. Recently adopted accounting pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers . The guidance should be applied prospectively to acquisitions occurring on or after the effective date. The guidance is effective for the Company beginning January 1, 2024, and interim periods therein. Early adoption is permitted, including in interim periods, for any financial statements that have not yet been issued. The Company elected to early adopt ASU 2021-08 on September 1, 2021, and the Company has recorded the acquired deferred revenue based on historical carrying value rather than fair value in the condensed consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), as part of its initiative to reduce complexity in accounting standards. ASU 2019-12 removes the following exceptions: exception to the incremental approach for intraperiod tax allocation; exception to accounting for basis differences when there are ownership changes in foreign investments; and exception to interim period tax accounting for year-to-date losses that exceed anticipated losses. ASU 2019-12 also improves financial reporting for franchise taxes that are partially based on income; transactions with a government that result in a step up in the tax basis of goodwill; separate financial statements of legal entities that are not subject to tax; and enacted changes in tax laws in interim periods. ASU 2019-12 is effective for public business entities in fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. For all other entities, the standard is effective in fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. On January 1, 2021, the Company adopted ASU 2019-12, and the standard did not have a material impact on its condensed consolidated financial statements and related disclosures. Accounting pronouncements not yet adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the existing incurred loss impairment model for financial assets held at amortized cost. The new model uses a forward-looking expected loss method to calculate credit loss estimates. These changes will result in earlier recognition of credit losses. In March 2022, the FASB issued ASU 2022-02, Financial Instruments – Credit Losses: Troubled Debt Restructurings and Vintage Disclosures, which updates accounting guidance for troubled debt restructurings by creditors and enhances disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the amendments require an entity to disclose gross write-offs by year of origination for financing receivables. The amendments included within ASU 2022-02 become effective after the adoption of ASU 2016-13, which becomes effective for the Company on January 1, 2023 with early adoption permitted. The Company is currently evaluating the impact of the adoption of ASU 2016-13 and ASU 2022-02 on its condensed consolidated financial statements and related disclosures and does not expect a material impact. In August 2020, the FASB issued ASU No. 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. Among other changes, ASU 2020-06 removes from GAAP the liability and equity separation model for convertible instruments with a cash conversion feature, and as a result, after adoption, entities will no longer separately present in equity an embedded conversion feature for such debt. Similarly, the embedded conversion feature will no longer be amortized into income as interest expense over the life of the instrument. Instead, entities will account for a convertible debt instrument wholly as debt unless (1) a convertible instrument contains features that require bifurcation as a derivative under ASC Topic 815, Derivatives and Hedging , or (2) a convertible debt instrument was issued at a substantial premium. Additionally, ASU 2020-06 requires the application of the if-converted method to calculate the impact of convertible instruments on diluted earnings per share, which will result in increased dilutive securities as the assumption of cash settlement of the notes will not be available for the purpose of calculating earnings per share. The provisions of ASU 2020-06 are effective for reporting periods beginning after December 15, 2023, with early adoption permitted for reporting periods beginning after December 15, 2020 and can be adopted on either a fully retrospective or modified retrospective basis. The Company is currently evaluating the timing, method of adoption, and overall impact of this standard on its condensed consolidated financial statements. Revenue Recognition The Company recognizes revenue upon transfer of control of promised goods or services to customers at transaction price, an amount that reflects the consideration the Company expects to receive in exchange for those goods or services. Transaction price is calculated as selling price net of variable consideration which may include estimates for future returns and sales incentives related to current period revenue. The Company determines revenue recognition through the following steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Performance Obligations Some of the Company’s contracts with customers contain multiple performance obligations, primarily hardware and subscription services for the Tile and Jiobit hardware tracking devices. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative stand-alone selling price (“SSP”) basis with the amounts allocated to ongoing services deferred and recognized over a period of time and amounts allocated to hardware tracking devices recognized at a point-in time with a portion of the consideration being allocated to application usage (maintenance) and support. The Company determines SSP based on observable, if available, prices for those related goods and services when sold separately. When such observable prices are not available, the Company determines SSP based on overarching pricing objectives and strategies, taking into consideration market conditions and other factors, including customer size, volume purchased, market and industry conditions, product-specific factors, and historical sales of the deliverables. For hardware products, the Company generally offers a limited warranty to end-users covering a period of twelve months for products and obligates the Company to repair or replace products for manufacturing defects or hardware component failures. The warranty is not sold separately and does not represent a separate performance obligation. Therefore, such warranties are accounted for under ASC 460, Guarantees, and the estimated costs of warranty claims are generally accrued as cost of revenue in the period the related revenue is recorded. See Note 11 “Commitments and Contingencies” for further details. Variable Consideration The Company recognizes hardware revenue at the net sales price, which includes certain estimates for variable consideration with our customers. The Company’s variable consideration is primarily in the form of promotional agreements and marketing development fund agreements in relation to the hardware tracking devices. These agreements are designed to enhance the sale of the Company’s products and consist of incentives to the Company’s customers. The Company estimates variable considerations using the expected value method. All forms of variable consideration are recorded as contra-revenue and a corresponding liability in its condensed consolidated balance sheet. Certain agreements are estimates at period end due to the nature of the incentives or expected and yet-to-be announced incentive programs that apply to current period revenue transactions. These estimates are based on the Company’s incentive program experience, historical and projected sales data and current contractual terms. The remaining portion of this liability is based on contractual amounts and does not require estimation. Subscription Revenue The Company’s subscription revenue includes related support and is comprised of Life360 mobile application subscriptions as well as subscription service plans for the Tile and Jiobit hardware tracking devices. The Company’s subscription contracts with customers are established at the point of mobile application download and purchase as indicated through acceptance of the Company’s Standard Service Terms. The cloud-based subscriptions are considered single combined performance obligations, consisting of multiple features that can be purchased separately, but which are bundled together and delivered to the customer as a combined output. The Company provides its customers with technical support along with unspecified updates and upgrades to the platform on an if and when available basis. The subscription service plan for the Tile and Jiobit hardware tracking device is a distinct and separate performance obligation from the hardware. Subscription fees are fixed and recognized on a straight-line basis over the non-cancellable contractual term of the agreement, generally beginning on the date that the Company’s service is made available to the customer. Subscription revenue was $36.0 million and $19.2 million for the three months ended June 30, 2022 and 2021, respectively, and $69.1 million and $36.4 million for the six months ended June 30, 2022 and 2021, respectively. Hardware Revenue The Company derives hardware revenue from sale of the Tile and Jiobit hardware tracking devices and related accessories. For hardware and accessories, revenue is recognized at the time products are delivered. The Company offers limited rights of return and estimates reserves based on historical experience and records the reserves as a reduction of revenue and an accrued liability. Amounts billed to customers for shipping and handling are classified as revenue, and the Company’s related shipping and handling costs incurred are classified as cost of revenue. The customers are billed upon shipment of the hardware tracking devices. Sales taxes collected from customers and remitted to respective governmental authorities are recorded as liabilities and are not included in revenue. The Company’s hardware and the embedded operating system are one distinct performance obligation and separate from the subscription service plans for the Tile and Jiobit hardware tracking device. The Company’s embedded operating system is a component of the hardware that is integral to the functionality of the hardware and only together produce the essential functionality of the hardware. The Company offers extended warranties and hardware protection plans that are recognized over the contractual service period (typically 1 to 2 years). Hardware revenue was $6.8 million and $0 for the three months ended June 30, 2022 and 2021, respectively, and $16.5 million and $0 for the six months ended June 30, 2022 and 2021, respectively. Other Revenue Other revenue consists primarily of data revenue and partnership revenue. For the six months ended June 30, 2022, the Company’s data revenue is comprised of Life360 data monetization arrangements with certain third parties established through Data Master Service Agreements (collectively, “Data MSAs”), which outline specific terms governing the access and use of data and related fees. The Company determines a contract to exist upon the mutual execution of a Data MSA. Those customers historically had ability to access certain portions of the Company’s user data over the contract term, in which certain customers pay a fee based on average active monthly users. Most of the Company’s Data MSAs have been terminated as of June 30, 2022 as the Company has moved toward an aggregate data sales model. The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring data to the customer. The Company estimates and includes variable consideration in the transaction price at contract inception to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. In estimating variable consideration in data arrangements, the Company considers historical experience and other external factors that may impact the expectation of future data usage. At each reporting period, the Company assesses actual and expected data usage that will be earned for the duration of the contract term. The payment terms for Data MSAs are monthly. The Company recognizes fees for certain data arrangements over time based on the fee per average active monthly user as the customer simultaneously receives and consumes the benefit of the services that the Company provides over the term of the agreement. In January 2022, Life360 announced a new partnership agreement with Placer.ai (“Placer”), a prominent provider of aggregated analytics for the retail ecosystem, in which executives of the Company have an immaterial ownership interest through a passive investment vehicle. As part of this partnership, Placer will provide data processing and analytics services to Life360 and will have the right to commercialize aggregated data related to place visits during the term of the agreement. This partnership marked the beginning of Life360’s exit from its legacy data sales model and transition to commercialize solely aggregated data, while still providing members the option to opt out of even aggregated data sales. In keeping with the Company’s vision and consistent with that aggregated data sales model, the Company is exploring ways, in the future, to enable members to avail themselves of compelling offers and opportunities by enabling Company partners to use their data with members’ explicit, affirmative opt-in consent. The Placer agreement includes fixed monthly revenue amounts for access to aggregated data for the duration of the three-year agreement. The Company has a stand ready obligation to provide aggregated user data over the term of the agreement and recognizes revenue ratably based on the fixed monthly amounts. The Company estimates and includes variable consideration in the transaction price at contract inception to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. In connection with the agreement, Placer issued the Company a warrant to purchase up to 5,100,167 shares of Series C Preferred Stock at an exercise price of $4.90 per share. The grant of the warrant is considered noncash consideration, which the Company measured at fair value on the date of issuance. The warrant was valued using an option pricing model, and the fair value of approximately $5.4 million, has been included as part of the transaction price of the Placer data partnership agreement, and will be included in prepaid expenses and other assets, noncurrent on the Company’s condensed consolidated balance sheets. Data revenue was $5.0 million and $4.3 million for the three months ended June 30, 2022 and 2021, respectively, and $12.2 million and $8.6 million for the six months ended June 30, 2022 and 2021, respectively. Partnership revenue includes agreements with third parties to provide access to advertising on the Company’s mobile platform. The Company receives a percentage of the advertising spend as a fee, which is recognized as revenue on a net basis. The variable amounts earned under partnership revenue arrangements are allocable to the month in which the advertising is placed, which is reset on a monthly basis. As such, the Company will recognize revenue monthly based on the advertising placed. Partnership revenue was $1.0 million and $1.5 million for the three months ended June 30, 2022 and 2021, respectively, and $2.1 million and $3.0 million for the six months ended June 30, 2022 and 2021, respectively. Remaining Performance Obligations Remaining performance obligations represent the amount of contracted future revenue not yet recognized as the amounts relate to undelivered performance obligations, including both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. Revenue allocated to remaining performance obligations was $28.3 million as of June 30, 2022, of which the Company expects $24.8 million to be recognized over the next twelve months. Cost of Revenue Cost of subscription revenue includes all direct costs to deliver the Company’s subscription services. These costs include personnel-related costs associated with our cloud-based infrastructure and our customer support organization, third-party hosting fees, software, and maintenance costs, outside services associated with the delivery of our subscription services, personnel-related expenses, travel-related costs, amortization of acquired intangibles and allocated overhead, such as facilities, including rent, utilities, depreciation on equipment shared by all departments, credit card and transaction processing fees, and shared information technology costs. Personnel-related expenses include salaries, bonuses, benefits, and stock-based compensation for operations personnel. Cost of hardware revenue consists of product costs, including hardware production, contract manufacturers for production, shipping and handling, packaging, fulfillment, personnel-related expenses, manufacturing and equipment depreciation, warehousing, tariff costs, hosting, app fees, customer support costs, warranty replacement, and write-downs of excess and obsolete inventory. Personnel-related expenses include salaries, bonuses, benefits, and stock-based compensation for operations personnel. Cost of other revenue consists of cloud-based hosting costs, as well as costs of product operations function and employee-related costs associated with our data platform. Costs Capitalized to Obtain Contracts Costs capitalized to obtain contracts comprise of revenue-share payments to the Company’s Channel Partners in connection with annual subscription sales of the Company’s mobile application on each respective mobile application store platform as well as sales commissions paid to employees on hardware sales. Costs that are incremental and directly related to new customer sales contracts are accrued and capitalized upon execution of a non-cancelable customer contract, and subsequently expensed over the average life of the customer relationship, which is currently estimated to be two Allowance for Doubtful Accounts The Company makes judgments as to its ability to collect outstanding accounts receivable and provide allowances for accounts receivable when and if collection becomes doubtful. The Company evaluates the collectability of its accounts receivable based on review of its past-due balances, known collection risks and historical experience. In circumstances where the Company is aware of a specific customer’s potential inability to meet its financial obligations to the Company (e.g., bankruptcy filings or substantial downgrading of credit ratings), the Company records a specific reserve for bad debt against amounts due to reduce the net recognized receivable to the amount it reasonably believes will be collected. The allowance for doubtful accounts as of June 30, 2022 and December 31, 2021 and total bad debt expense for the three and six months ended June 30, 2022 and 2021 was immaterial. Inventory and Contract Manufacturing Inventory is comprised of raw materials and finished goods related to the Tile and Jiobit hardware tracking devices and accessories. Inventory is stated at the lower of cost or net realizable value on a weighted average basis. The Company assesses the valuation of inventory and periodically writes down the value for estimated excess and obsolete inventory based upon estimates of future demand and market conditions. The Company’s inventory is held at third party warehouses and contract manufacturer premises. The Company outsources a significant portion of its manufacturing to independent contract manufacturers in Asia. A significant portion of its cost of revenue consists of inventory purchased from these manufacturers. The Company’s manufacturers procure components and manufacture the Company’s products based on the demand forecasts provided. These forecasts are based on estimates of future demand for the Company’s products, which are in turn based on historical trends and an analysis from the Company’s sales and marketing organizations, adjusted for overall market conditions. Shipments of inventory from the contract manufacturer are recorded as finished goods inventory upon shipment when title and the significant risks and reward of ownership have passed to the Company. Significant Risks and Uncertainties The Company’s business, operations, and financial results are subject to various risks and uncertainties including adverse global economic conditions, such as the coronavirus (COVID-19) pandemic, and competition in our industry that could adversely affect our business, financial conditions, results of operations and cash flows. These important factors, among others, could cause our actual results to differ materially from any future results. The Company’s customers primarily consist of individual consumers, who subscribe to the Company’s product offerings through market exchanges operated by channel partners, data revenue customers and retail partners, who purchase hardware tracking devices from the Company and resell them directly to individual consumers. Any changes in customer preferences and trends or changes in terms of use of channel partners’ platforms could have an adverse impact on its results of operations and financial condition. The Company depends on the constant real-time performance, reliability and availability of our technology system and access to our partner’s networks. The Company primarily relies on a single technology partner for its cloud platform and a limited number of contract manufacturers to assemble components of the Jiobit and Tile hardware tracking devices. Any adverse impacts to the platform and the contract manufacturers could negatively impact our relationships with our partners or Users and may adversely impact our business, financial performance, and reputation. The Company derives its accounts receivable from revenue earned from customers located in the United States and internationally. The Company does not perform ongoing credit evaluations of its customers’ financial condition and does not require collateral from its customers. Historically, credit losses have been insignificant. Channel and retail partners account for the majority of the Company’s revenue and accounts receivable for all periods presented. The following tables set forth the information about our channel and retail partners who represented greater than 10% of our revenue or accounts receivable, respectively: Percentage of Revenue Three Months Ended Six Months Ended 2022 2021 2022 2021 Channel Partner A 49 % 58 % 47 % 56 % Channel Partner B 15 % 18 % 15 % 18 % Retail Partner A 13 % * 12 % * * Represents less than 10% Percentage of Gross Accounts As of June 30, As of December 31, 2022 2021 Channel Partner A 37 % 48 % Channel Partner B 12 % 14 % Data Partner A 19 % * Retail Partner A 17 % * * Represents less than 10% Research and Development Costs The Company charges costs related to research, design, and development of products to research and development expense as incurred. These costs consist of payroll related expenses, contractor fees, outside third-party vendors, and allocated facilities costs. Advertising Expense Advertising expense was $4.6 million and $1.3 million for the three months ended June 30, 2022 and 2021, respectively, and $9.0 million and $2.4 million for the six months ended June 30, 2022 and 2021, respectively. Advertising expenses are recorded in the period in which cost is incurred and are presented within sales and marketing expense on the condensed consolidated statements of operations. Cash and Cash Equivalents The Company considers all highly liquid investment securities with remaining maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents include deposit and money market funds. Restricted Cash Deposits of $15.1 million and $0.4 million were restricted from withdrawal as of June 30, 2022 and December 31, 2021, respectively. $13.1 million of the restricted balance as of June 30, 2022 relates to funds placed in an indemnity escrow fund to be held for fifteen months after the acquisition date of Tile, Inc. for general representations and warranties. $0.7 million of the restricted cash balance as of June 30, 2022 relates to cash deposits restricted under letters of credit issued on behalf of the Company in support of indebtedness to trade creditors incurred in the ordinary course of business. The remaining restricted balance of $1.3 million as of June 30, 2022 is related to securing the Company’s facility leases which will expire in 2022 and 2024 in accordance with the operating lease agreements, as amended. The $0.4 million balance restricted from withdrawal as of December 31, 2021 relates to facility lease agreements. These balances are included in restricted cash on the accompanying condensed consolidated balance sheets. Fair Value of Financial Instruments The Company uses fair value measurements to record fair value adjustments to certain financial and non-financial assets and liabilities to determine fair value disclosures. The accounting standards define fair value, establish a framework for measuring fair value, and require disclosures about fair value measurements. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the principal or most advantageous market in which the Company would transact are considered along with assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. The accounting standard for fair value establishes a fair value hierarchy based on three levels of inputs, the first two of which are considered observable and the last unobservable, that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of Inputs that may be used to measure fair value are as follows: Level 1 – Observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Valuations based on unobservable inputs to the valuation methodology and including data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances. The recorded carrying amounts of cash and cash equivalents, prepaid expenses, accounts payable, and accounts receivable as of June 30, 2022 and December 31, 2021 approximate fair value due to their short-term nature. Refer to Note 6 “Fair Value Measurements” for further details. Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets. Equipment, computer software, furniture, and product manufacturing equipment have estimated useful lives ranging from three Costs of maintenance and repairs that do not improve or extend the lives of the respective assets are expensed as incurred. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reported in other income (expense), net in the period realized. Software Development Costs For development costs related to internal use software projects, the Company capitaliz

Revenue

Revenue	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue by geography is generally based on the address of the customer as defined in the contract with the customer. The following table sets forth revenue by geographic area (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 North America $ 43,259 $ 23,811 $ 89,311 $ 44,597 Europe, Middle East and Africa 3,379 440 6,579 1,677 Other international regions 2,206 758 3,924 1,727 Total revenue $ 48,844 $ 25,009 $ 99,814 $ 48,001 Deferred revenue, which is a contract liability, consists primarily of payments received and accounts receivable recorded in advance of revenue recognition under the Company’s contracts with customers and is recognized as the revenue recognition criteria are met. The following table represents a roll forward of the Company’s deferred revenue (in thousands): Subscription Hardware Other Total Beginning balance as of December 31, 2021 $ 13,864 $ 65 $ — $ 13,929 Acquired deferred revenue 3,714 5,194 — 8,908 Additions to deferred revenue 69,125 29,515 7,965 106,605 Recognized revenue in the period (68,517) (29,720) (2,898) (101,135) Ending balance as of June 30, 2022 $ 18,186 $ 5,054 $ 5,067 $ 28,307 Subscription Other Total Beginning balance as of December 31, 2020 $ 11,686 $ 169 $ 11,855 Additions to deferred revenue 36,696 — 36,696 Recognized revenue in the period (36,369) (169) (36,538) Ending balance as of June 30, 2021 $ 12,013 $ — $ 12,013 The Company recognizes as an asset the incremental costs of obtaining a contract with a customer if the entity expects to recover those costs. The Company determined that its costs to obtain contracts were both direct and incremental. These costs are attributable to the Company’s largest channel partners. Renewal contracts are considered non-commensurate with new contracts as the Company pays a different commission rate for renewals. Accordingly, the guidance requires that specifically anticipated renewal periods should be taken into consideration in determining the required amortization period. Specifically, under the guidance of ASC 340-40, the Company is required to estimate the specifically anticipated renewals after the initial contract to which the initial commission asset relates. The total amortization period is then equal to the initial contractual term plus all specifically anticipated renewals that relate to the initial commission asset. Based upon its assessment of historical data and other factors, the Company concluded that its average customer life was approximately two The following table represents a roll forward of the Company’s costs capitalized to obtain contracts, net (in thousands): Beginning balance as of December 31, 2021 $ 1,649 Acquired costs capitalized to obtain contracts 849 Additions to costs capitalized to obtain contracts 951 Amortization of deferred commissions (1,671) Ending balance as of June 30, 2022 $ 1,778 Costs capitalized to obtain contracts, current $ 1,582 Costs capitalized to obtain contracts, net of current 196 Total costs capitalized to obtain contracts as of June 30, 2022 $ 1,778 Beginning balance as of December 31, 2020 3,950 Additions to costs capitalized to obtain contracts 1,048 Amortization of deferred commissions (2,255) Ending balance as of June 30, 2021 $ 2,743 Costs capitalized to obtain contracts, current 2,223 Costs capitalized to obtain contracts, net of current 520 Total costs capitalized to obtain contracts as of June 30, 2021 $ 2,743

Deferred Revenue

Deferred Revenue	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Deferred Revenue	Revenue Revenue by geography is generally based on the address of the customer as defined in the contract with the customer. The following table sets forth revenue by geographic area (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 North America $ 43,259 $ 23,811 $ 89,311 $ 44,597 Europe, Middle East and Africa 3,379 440 6,579 1,677 Other international regions 2,206 758 3,924 1,727 Total revenue $ 48,844 $ 25,009 $ 99,814 $ 48,001 Deferred revenue, which is a contract liability, consists primarily of payments received and accounts receivable recorded in advance of revenue recognition under the Company’s contracts with customers and is recognized as the revenue recognition criteria are met. The following table represents a roll forward of the Company’s deferred revenue (in thousands): Subscription Hardware Other Total Beginning balance as of December 31, 2021 $ 13,864 $ 65 $ — $ 13,929 Acquired deferred revenue 3,714 5,194 — 8,908 Additions to deferred revenue 69,125 29,515 7,965 106,605 Recognized revenue in the period (68,517) (29,720) (2,898) (101,135) Ending balance as of June 30, 2022 $ 18,186 $ 5,054 $ 5,067 $ 28,307 Subscription Other Total Beginning balance as of December 31, 2020 $ 11,686 $ 169 $ 11,855 Additions to deferred revenue 36,696 — 36,696 Recognized revenue in the period (36,369) (169) (36,538) Ending balance as of June 30, 2021 $ 12,013 $ — $ 12,013 The Company recognizes as an asset the incremental costs of obtaining a contract with a customer if the entity expects to recover those costs. The Company determined that its costs to obtain contracts were both direct and incremental. These costs are attributable to the Company’s largest channel partners. Renewal contracts are considered non-commensurate with new contracts as the Company pays a different commission rate for renewals. Accordingly, the guidance requires that specifically anticipated renewal periods should be taken into consideration in determining the required amortization period. Specifically, under the guidance of ASC 340-40, the Company is required to estimate the specifically anticipated renewals after the initial contract to which the initial commission asset relates. The total amortization period is then equal to the initial contractual term plus all specifically anticipated renewals that relate to the initial commission asset. Based upon its assessment of historical data and other factors, the Company concluded that its average customer life was approximately two The following table represents a roll forward of the Company’s costs capitalized to obtain contracts, net (in thousands): Beginning balance as of December 31, 2021 $ 1,649 Acquired costs capitalized to obtain contracts 849 Additions to costs capitalized to obtain contracts 951 Amortization of deferred commissions (1,671) Ending balance as of June 30, 2022 $ 1,778 Costs capitalized to obtain contracts, current $ 1,582 Costs capitalized to obtain contracts, net of current 196 Total costs capitalized to obtain contracts as of June 30, 2022 $ 1,778 Beginning balance as of December 31, 2020 3,950 Additions to costs capitalized to obtain contracts 1,048 Amortization of deferred commissions (2,255) Ending balance as of June 30, 2021 $ 2,743 Costs capitalized to obtain contracts, current 2,223 Costs capitalized to obtain contracts, net of current 520 Total costs capitalized to obtain contracts as of June 30, 2021 $ 2,743

Costs Capitalized to Obtain Con

Costs Capitalized to Obtain Contracts	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Costs Capitalized to Obtain Contracts	Revenue Revenue by geography is generally based on the address of the customer as defined in the contract with the customer. The following table sets forth revenue by geographic area (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 North America $ 43,259 $ 23,811 $ 89,311 $ 44,597 Europe, Middle East and Africa 3,379 440 6,579 1,677 Other international regions 2,206 758 3,924 1,727 Total revenue $ 48,844 $ 25,009 $ 99,814 $ 48,001 Deferred revenue, which is a contract liability, consists primarily of payments received and accounts receivable recorded in advance of revenue recognition under the Company’s contracts with customers and is recognized as the revenue recognition criteria are met. The following table represents a roll forward of the Company’s deferred revenue (in thousands): Subscription Hardware Other Total Beginning balance as of December 31, 2021 $ 13,864 $ 65 $ — $ 13,929 Acquired deferred revenue 3,714 5,194 — 8,908 Additions to deferred revenue 69,125 29,515 7,965 106,605 Recognized revenue in the period (68,517) (29,720) (2,898) (101,135) Ending balance as of June 30, 2022 $ 18,186 $ 5,054 $ 5,067 $ 28,307 Subscription Other Total Beginning balance as of December 31, 2020 $ 11,686 $ 169 $ 11,855 Additions to deferred revenue 36,696 — 36,696 Recognized revenue in the period (36,369) (169) (36,538) Ending balance as of June 30, 2021 $ 12,013 $ — $ 12,013 The Company recognizes as an asset the incremental costs of obtaining a contract with a customer if the entity expects to recover those costs. The Company determined that its costs to obtain contracts were both direct and incremental. These costs are attributable to the Company’s largest channel partners. Renewal contracts are considered non-commensurate with new contracts as the Company pays a different commission rate for renewals. Accordingly, the guidance requires that specifically anticipated renewal periods should be taken into consideration in determining the required amortization period. Specifically, under the guidance of ASC 340-40, the Company is required to estimate the specifically anticipated renewals after the initial contract to which the initial commission asset relates. The total amortization period is then equal to the initial contractual term plus all specifically anticipated renewals that relate to the initial commission asset. Based upon its assessment of historical data and other factors, the Company concluded that its average customer life was approximately two The following table represents a roll forward of the Company’s costs capitalized to obtain contracts, net (in thousands): Beginning balance as of December 31, 2021 $ 1,649 Acquired costs capitalized to obtain contracts 849 Additions to costs capitalized to obtain contracts 951 Amortization of deferred commissions (1,671) Ending balance as of June 30, 2022 $ 1,778 Costs capitalized to obtain contracts, current $ 1,582 Costs capitalized to obtain contracts, net of current 196 Total costs capitalized to obtain contracts as of June 30, 2022 $ 1,778 Beginning balance as of December 31, 2020 3,950 Additions to costs capitalized to obtain contracts 1,048 Amortization of deferred commissions (2,255) Ending balance as of June 30, 2021 $ 2,743 Costs capitalized to obtain contracts, current 2,223 Costs capitalized to obtain contracts, net of current 520 Total costs capitalized to obtain contracts as of June 30, 2021 $ 2,743

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company measures and reports certain financial instruments as assets and liabilities at fair value on a recurring basis. These liabilities are considered Level 3 instruments. The fair value of these instruments as of June 30, 2022 and December 31, 2021 are classified as follows (in thousands): As of June 30, 2022 Level 1 Level 2 Level 3 Total Liabilities: Derivative liability $ — $ — $ 68 $ 68 Convertible notes (Note 9) — — 10,059 10,059 Total $ — $ — $ 10,127 $ 10,127 As of December 31, 2021 Level 1 Level 2 Level 3 Total Liabilities: Derivative liability $ — $ — $ 1,396 $ 1,396 Convertible notes (Note 9) — — 12,293 12,293 Contingent consideration — — 9,500 9,500 Total $ — $ — $ 23,189 $ 23,189 The change in fair value of the Level 3 instruments were as follows (in thousands): As of June 30, 2022 Derivative Convertible Contingent Fair value, beginning of the year $ 1,396 $ 12,293 $ 9,500 Vesting of revesting notes — 108 — Forfeiture of revesting notes — (235) — Issuance of common stock in settlement of contingent consideration — — (4,221) Changes in fair value (1,328) (2,107) (5,279) Fair value, end of quarter $ 68 $ 10,059 $ — As of December 31, 2021 Derivative Convertible Contingent Fair value, beginning of the year $ — $ — $ — Issuance of derivative liability 663 — — Issuances of convertible notes — 11,597 — Issuance of revesting notes — 186 — Issuance of contingent consideration — — 5,900 Changes in fair value 733 510 3,600 Fair value, end of year $ 1,396 $ 12,293 $ 9,500 For the three and six months ended June 30, 2022, the Company recorded a gain associated with the change in fair value of the derivative liability of $0.4 million and $1.3 million, respectively. For the three and six months ended June 30, 2022, the Company recorded a gain associated with convertible notes of $0.5 million and $2.1 million, respectively. For the year ended December 31, 2021, the Company had recorded a loss associated with the change in fair value of the derivative liability and convertible notes of $0.7 million and $0.5 million, respectively. The amounts have been recorded in other income (expense), net in the condensed consolidated statement of operations and comprehensive loss.

Business Combinations

Business Combinations	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations Jio, Inc. On September 1, 2021, the Company completed the acquisition of Jiobit, a privately held consumer electronics company that specializes in the production of low powered sensors and wearables. The company is based in Chicago, Illinois with an additional development center in Silicon Valley, California and was founded in 2015. Jiobit has developed a small and long-lasting tracking solution. The mobile app, which is run through a wireless subscription service, offers a comprehensive set of monitoring and notification features. The addition of Jiobit is expected to strengthen and extend the Company’s market leadership position by leveraging Jiobit’s developed technology and customer relationships to accelerate the Company’s own product development and augment the Company with a critical mass of talent with strong tracking/wearables experience. The aggregate purchase consideration was $43.2 million, of which $7.3 million was paid in cash, $5.9 million of contingent consideration was payable upon reaching certain operational goals for 2021 and 2022, $11.6 million representing the fair value of convertible notes (the “September 2021 Convertible Notes”), $4.0 million representing forgiveness of Jiobit’s convertible debt held by the Company, $0.6 million comprised of 25,245 vested common stock options issued to Jiobit employees (“replacement awards”), and $13.8 million comprised of 674,516 shares of the Company’s common stock. Of the consideration transferred, $0.2 million in cash was placed in an indemnity escrow fund to be held for fifteen months after the acquisition date for general representations and warranties. The September 2021 Convertible Notes issued as part of the purchase consideration can be converted to common stock at any time subsequent to the acquisition at a fixed conversion price of $22.50 per share. On each of the first three annual anniversaries of the issuance date of the September 2021 Convertible Notes, the Company will repay 1/3rd of the unconverted principal plus accrued interest to the holders of such notes. Upon a change of control, the holder may elect to either convert at the fixed conversion price of $22.50 per share or be repaid in full. The Company has elected the fair value option and will remeasure the September 2021 Convertible Notes at their fair value on each reporting date and reflect the changes in fair value in earnings. The estimated fair value of the September 2021 Convertible Notes is determined using a combination of the present value of the cash flows and the Black-Scholes option pricing model using assumptions as follows: As of September 1, As of December 31, As of June 30, 2021 2021 2022 Principal $ 11,206 $ 11,206 $ 10,068 Interest rate 4.5 % 4.5 % 4.8 % Common stock fair value per share 20.49 21.16 5.88 Conversion price per share 22.50 22.50 22.50 Risk-free interest rate 0.45 % 0.88 % 2.93 % Time to exercise (in years) 3.00 2.70 2.17 Volatility 37 % 43 % 60 % Annual dividend yield 0 % 0 % 0 % A total of $6.0 million was excluded from purchase consideration which consists of $1.9 million comprised of 91,217 shares of the Company’s common stock (“Revesting Stock” – Note 14) and $1.6 million comprised of convertible notes (“Revesting Notes”) issued to key employees, retention bonuses of $1.0 million, and $0.5 million comprised of 43,083 unvested common stock options issued to Jiobit employees (“Unvested Replacement Awards” – Note 14). The Company incurred transaction related expenses of $1.0 million, which were expensed as incurred and recorded under general and administrative expenses in the condensed consolidated statements of operations and comprehensive loss. The Revesting Stock and Revesting Notes are restricted and vest with continuous employment of certain key employees over a 3-year period subsequent to the acquisition. The Revesting Stock is recognized in general and administrative expense as the Revesting Stock vests. In April 2022, one of the key employees exited the Company, and so the entirety of their Revesting Notes and Revesting Stock was forfeited. The Company recorded $(0.3) million as stock-based compensation included in general and administrative expense related to the forfeiture of their Revesting Stock and $(0.3) million as compensation included in general and administrative expense related to the forfeiture of their Revesting Notes. The Company recorded an immaterial amount and $0.2 million as stock-based compensation included in general and administrative expense related to the vesting of the Revesting Stock for the three and six months ended June 30, 2022. The Company records the Revesting Notes at fair value and will remeasure the Revesting Notes at fair value on each reporting date. The Revesting Notes are recognized in general and administrative expense. As the Revesting Notes vest, the changes in fair value are recorded as general and administrative expense with a corresponding entry to convertibles notes. The estimated fair value of the Revesting Notes is determined using a combination of the present value of the Revesting Notes cash flows and the Black-Scholes option pricing model. The terms of the Revesting Notes are consistent with the terms of the September 2021 Convertible Notes. The Company recorded an immaterial amount and $0.1 million as general and administrative and expense related to the changes in fair value of Revesting Notes during the three and six months ended June 30, 2022, respectively. The retention bonuses are recognized in prepaid expenses and other assets, noncurrent in the condensed consolidated balance sheet and vest monthly over a period of 24 months and require continuous employment. The expense associated with the Unvested Replacement Awards is recognized as stock-based compensation ratably over the remaining service period. The 2021 and 2022 contingent consideration is based on the achievement of a Qualifying Units Sold Target for the period January 1, 2021 through December 31, 2021 (“2021 Contingent Consideration”) and for the period January 1, 2022 through December 31, 2022 (“2022 Contingent Consideration,” collectively, “Contingent Consideration”). The Contingent Consideration consists of 301,261 and 451,891 shares for 2021 and 2022, respectively, with the amount paid equal to the attainment relative to target in each year and settled in shares of the Company’s common stock. The Contingent Consideration shares payable is determined based on the percentage achievement relative to the target in each period, respectively, with greater than 100% attainment resulting in 100% payment, 90% to 100% attainment resulting in the number of shares equal to the percentage attainment, and less than 90% attainment equal to no consideration. The Contingent Consideration is held at fair value with changes in fair value recognized in general and administrative expense. The estimated fair value of the Contingent Consideration is determined by using a Monte Carlo Simulation scenario-based analysis that estimates the fair value of the Contingent Consideration based on the probability-weighted present value of the expected future cash flows, considering possible outcomes based on actual and forecasted results. The estimated fair value of the 2021 and 2022 Contingent Consideration upon issuance was $0.1 million and $5.8 million, respectively. The estimated fair value of the 2021 and 2022 Contingent Consideration as of December 31, 2021 was $6.3 million and $3.1 million, respectively. The Company recorded a $1.3 million and $5.3 million gain within general and administrative expense related to the change in the fair value of the Contingent Consideration during the three and six months ended June 30, 2022, respectively. In April 2022, the Board of Directors and previous Jiobit shareholders approved an amendment to the 2021 Contingent Consideration. The 2021 Contingent Consideration was amended to 50% of the total potential amount of which 376,573 shares of the Company’s common stock were issued to shareholders. The fair value of the common stock of $4.2 million was recorded to additional paid-in capital and the contingent consideration liability was reversed. The acquisition was accounted for as a business combination. The total purchase price of $43.2 million was allocated to the net tangible and intangible assets and liabilities based on their estimated fair values on the acquisition date and the excess was recorded to goodwill. The provisional values assigned to the assets acquired and liabilities assumed are based on preliminary estimates of fair value available as of the date of these financial statements and may be adjusted during the measurement period of up to 12 months from the date of acquisition. Any changes in the fair values of the assets acquired and liabilities assumed during the measurement period may result in adjustments to goodwill. The assets acquired and liabilities assumed in connection with the acquisition were recorded at their fair value on the date of acquisition as follows (in thousands): Fair Value Net tangible assets $ 5,986 Intangible assets 8,400 Goodwill 30,363 Liabilities assumed (1,551) Total acquisition consideration $ 43,198 The following table sets forth the components of identifiable intangible assets acquired (in thousands) and their estimated useful lives as of the date of acquisition: Fair Value Estimated Useful Developed technology $ 4,030 5 Trade name 3,380 10 Customer relationships 990 10 Total identified intangible assets $ 8,400 Goodwill represents the future economic benefits arising from other assets that could not be individually identified and separately recognized, such as the acquired assembled workforce of Jiobit. In addition, goodwill represents the future benefits as a result of the acquisition that will enhance the Company’s product available to both new and existing customers and increase the Company’s competitive position. The goodwill is not deductible for tax purposes. The Company estimated and recorded a net deferred tax liability of $0.1 million after offsetting the acquired available tax attributes with the intangible assets shown in the table above. Refer to Note 15 “Income Taxes” for discussion of the partial release of the Company’s valuation allowance relating to the deferred tax liability. The results of operations of Jiobit are included in the accompanying condensed consolidated statements of operations and comprehensive loss from the date of acquisition. Tile, Inc. On January 5, 2022, the Company completed the acquisition of Tile, Inc. (“Tile”), a privately held consumer electronics company. The company is based in San Mateo, California and was founded in 2012. Tile is a smart location company, with a Bluetooth enabled device that works in tandem with the Tile Application (the “Application”), to enable its customers to locate lost or misplaced objects. Tile offers a comprehensive list of products to use with the application, along with optional subscription services to enhance features offered for Tile products. The addition of Tile is expected to strengthen and extend Life360’s market leadership position by leveraging Tile’s developed technology and customer relationships to accelerate the Company’s own product development and augment the Life360 team with a critical mass of talent. The aggregate purchase consideration was $173.6 million, of which $158.0 million was paid in cash and $15.6 million paid in equity. The $15.6 million in equity was comprised of 780,593 shares of the Company’s common stock valued on the date of acquisition and 534,465 shares of common stock contingent consideration which was promised upon reaching certain operational goals. Of the consideration transferred, $14.1 million in cash and 84,524 common shares were placed in an indemnity escrow fund to be held for fifteen months after the acquisition date for general representations and warranties. A total of $35.0 million was excluded from purchase consideration which consists of retention consideration of 1,499,349 shares of retention restricted stock units valued at $29.6 million, $0.4 million related to 38,730 vested common stock options issued to Tile employees (“replacement awards”) as stock-based compensation on the acquisition date and change in control bonuses of $3.0 million which were recognized as compensation expense on the condensed consolidated statements of operations on the acquisition date. The Company incurred transaction related expenses of $1.7 million, which were recorded under general and administrative expenses in the condensed consolidated statements of operations. The remaining costs excluded from purchase consideration were a result of 1,561 shares granted to key employee and vested based continued employment and 4,784 shares of contingent consideration granted to a key employee and vested based on continued employment. Of the 1,499,349 shares of retention restricted stock units, 787,446 shares valued at $15.6 million contain performance vesting criteria based on the achievement of certain company milestones, and vest over a two year period. The remaining retention restricted stock units of 711,903 shares vest over a two The contingent consideration is based on the achievement of the Company’s achievement certain targets for revenue and earnings before interest, taxes, depreciation, and amortization (“EBITDA”) for the fourth quarter of calendar year 2021 and the second quarter of calendar year 2022. The Company determined that the criteria to satisfy the contingent consideration was not met, and as such, no value was ascribed to the contingent consideration. The acquisition was accounted for as a business combination and the total purchase consideration was allocated to the net tangible and intangible assets and liabilities based on their fair values on the acquisition date and the excess was recorded to goodwill. The provisional values assigned to the assets acquired and liabilities assumed are based on preliminary estimates of fair value available as of the date of these financial statements and certain assets and liabilities may be subject to adjustment during the measurement period of up to 12 months from the date of acquisition including, but not limited to, intangible assets, certain reserves and income taxes. Any changes in the fair values of the assets acquired and liabilities assumed during the measurement period may result in adjustments to goodwill. The assets acquired and liabilities assumed in connection with the acquisition were recorded at their fair value on the date of acquisition as follows (in thousands): Fair Value Cash $ 32,997 Restricted cash 1,050 Accounts receivable 27,826 Prepaid expenses and other current assets 5,004 Inventory 7,523 Property and equipment 570 Prepaid expenses and other assets, noncurrent 482 Intangible assets 52,700 Goodwill 102,117 Accounts payable (23,197) Accrued expenses and other current liabilities (24,613) Deferred revenue (8,908) Total acquisition consideration $ 173,551 The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition: Fair Value (in thousands) Estimated Useful Life (in years) Developed technology $ 18,400 5 Trade name 20,000 10 Customer relationships 14,300 8 Total identified intangible assets $ 52,700 Goodwill represents the future economic benefits arising from other assets that could not be individually identified and separately recognized, such as the acquired assembled workforce of Tile. In addition, goodwill represents the future benefits as a result of the acquisition that will enhance the Company’s product available to both new and existing customers and increase the Company’s competitive position. The goodwill is not deductible for tax purposes. The results of operations of Tile are included in the accompanying condensed consolidated statements of operations and comprehensive loss from the date of acquisition.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	Balance Sheet Components Accounts receivable, net As of June 30, As of December 31, 2022 2021 Accounts receivable $ 19,638 $ 11,772 Allowance for doubtful accounts (94) — Accounts receivable, net $ 19,544 $ 11,772 Inventory Inventory consists of the following (in thousands): As of June 30, As of December 31, 2022 2021 Raw materials $ 1,464 $ 1,298 Finished goods 9,674 711 Total inventory $ 11,138 $ 2,009 Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of the following (in thousands): As of June 30, As of December 31, 2022 2021 Prepaid expenses $ 9,030 $ 9,798 Other receivables 2,119 792 Total prepaid expenses and other current assets $ 11,149 $ 10,590 Prepaid expenses primarily consist of certain cloud platform and customer service program costs. Other receivables primarily consist of future tax refunds and deposits held by retail partners. Property and Equipment, net Property and equipment, net consists of the following (in thousands): As of June 30, As of December 31, 2022 2021 Computer equipment $ 671 $ 479 Leasehold improvements 1,007 923 Production manufacturing equipment 624 378 Furniture and fixtures 431 422 Total property and equipment, gross 2,733 2,202 Less: accumulated depreciation (2,072) (1,622) Total property and equipment, net $ 661 $ 580 Depreciation expense was $0.1 million and $0.2 million for the three and six months ended June 30, 2022 and $0.1 million and $0.2 million for the three and six months ended June 30, 2021, respectively. Prepaid Expenses and Other Assets, noncurrent Prepaid expenses and other assets, noncurrent consist of the following (in thousands): As of June 30, As of December 31, 2022 2021 Prepaid expenses $ 2,396 $ 3,324 Investment in affiliate 5,474 — Other assets 180 367 Total prepaid expenses and other assets, noncurrent $ 8,050 $ 3,691 Prepaid expenses primarily consist of cloud platform costs. Investment in affiliate relates to warrants to purchase shares of common stock of a current Data Revenue Partner. Refer to Note 3 “Revenue” for additional information. Leases The Company currently leases real estate space under non-cancelable operating lease agreements for its corporate headquarters in San Francisco, San Mateo and San Diego, California and Chicago, Illinois. The operating leases have remaining lease terms ranging from 1 to 4 years, some of which include the option to extend the lease. The Company has recognized a right-of-use (ROU) asset, short term and long-term lease liabilities of $2.0 million, $1.7 million, and $0.4 million in “Right-of-use-asset,” “ Accrued expenses and other liabilities, Other noncurrent liabilities, The Company has recognized operating ROU assets, short term and long-term lease liabilities of $1.6 million, $1.6 million, and $0.3 million in “Right-of-use-asset,” “ Accrued expenses and other liabilities, Other noncurrent liabilities, The Company did not have any finance leases as of June 30, 2022 or December 31, 2021. Operating lease costs were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost (1) $ 604 $ 354 $ 1,194 $ 709 (1) Amounts include short-term leases, which are immaterial. The weighted-average remaining term of the Company’s operating leases was 1.1 years and 1.3 years as of June 30, 2022 and December 31, 2021, respectively, and the weighted-average discount rate used to measure the present value of the operating lease liabilities was 5.0% and 4.8%, respectively. Maturities of the Company’s operating lease liabilities, which do not include short-term leases, as of June 30, 2022 were as follows (in thousands): Operating leases Remainder of 2022 $ 1,178 2023 931 2024 61 Total future minimum lease payments 2,170 Less imputed interest (60) Total operating lease liability $ 2,110 Payments for operating leases included in cash from operating activities were $0.6 million and $1.2 million for the three and six months ended June 30, 2022 and $0.4 million and $0.7 million for the three and six months ended June 30, 2021, respectively. Intangible Assets, net Intangible assets, net consists of the following (in thousands): As of June 30, As of December 31, 2022 2021 Intellectual property $ 225 $ 225 Licenses 237 237 Trade name 23,380 3,380 Technology 22,685 4,285 Customer relationships 15,290 990 Internal use software 396 — Total intangible assets, gross 62,213 9,117 Less: accumulated amortization (5,391) (1,131) Total intangible assets, net $ 56,822 $ 7,986 Amortization expense was $2.2 million and $4.3 million for the three and six months ended June 30, 2022. No amortization expense was recorded for the three and six months ended June 30, 2021. As of June 30, 2022 the Company had $0.3 million of internal use software which had not been released and was therefore not subject to amortization. As of June 30, 2022, estimated remaining amortization expense for intangible assets by fiscal year is as follows (in thousands): Amount Remainder of 2022 $ 4,369 2023 8,737 2024 8,737 2025 8,719 2026 8,442 Beyond 17,502 Total future amortization expense $ 56,506 The weighted-average remaining useful lives of the Company’s acquired intangible assets are as follows: Weighted-Average Remaining Useful Life As of June 30, As of December 31, 2022 2021 Trade name 9.5 years 9.7 years Technology 4.4 years 4.5 years Customer relationships 7.6 years 9.7 years The detail of intangible assets, net is as follows (in thousands): As of June 30, 2022 Intellectual Licenses Trade Technology Customer Internal use software Total Total intangible assets $ 225 $ 237 $ 23,380 $ 22,685 $ 15,290 $ 396 $ 62,213 Less accumulated amortization (225) (237) (1,255) (2,717) (952) (5) (5,391) Total intangible assets, net $ — $ — $ 22,125 $ 19,968 $ 14,338 $ 391 $ 56,822 As of December 31, 2021 Intellectual Licenses Trade Technology Customer Total Total intangible assets $ 225 $ 237 $ 3,380 $ 4,285 $ 990 $ 9,117 Less accumulated amortization (225) (237) (113) (523) (33) (1,131) Total intangible assets, net $ — $ — $ 3,267 $ 3,762 $ 957 $ 7,986 Goodwill Goodwill consists of the following (in thousands): Balance as of December 31, 2021 $ 31,127 Acquisitions 102,117 Balance as of June 30, 2022 $ 133,244 Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following (in thousands): As of June 30, As of December 31, 2022 2021 Accrued vendor expenses $ 14,183 $ 7,478 Accrued compensation 4,002 1,324 Customer related promotions and discounts 4,605 — Operating lease liability 1,658 1,574 Other current liabilities 4,965 171 Total accrued expenses and other liabilities $ 29,413 $ 10,547 Other current liabilities primarily relate to warranty liabilities and return accruals related to the Company’s hardware tracking devices. Escrow Liability The escrow liability relates to restricted cash associated with the Tile, Inc. acquisition placed in an indemnity escrow fund to be held for fifteen months after the acquisition date for general representations and warranties. The initial balance was included within total consideration transferred. As of June 30, 2022 the total escrow liability remaining was $13.1 million and is included within current liabilities. No escrow liability was recorded as of December 31, 2021. Other Noncurrent Liabilities Other noncurrent liabilities consist of the following (in thousands): As of June 30, As of December 31, 2022 2021 Deposit liabilities $ 256 $ 916 Other noncurrent liabilities 582 — Operating lease liability 447 289 Total other noncurrent liabilities $ 1,285 $ 1,205

Convertible Notes

Convertible Notes	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Convertible Notes	Convertible Notes In July 2021, the Company issued convertible notes (“July 2021 Convertible Notes”) to investors with an underlying principal amount of $2.1 million. The July 2021 Convertible Notes accrue simple interest at an annual rate of 4% and mature on July 1, 2026. The July 2021 Convertible Notes may be settled under the following scenarios at the option of the holder: (i) at any time into common shares equal to the conversion amount of outstanding principal and any accrued but unpaid interest divided by the conversion price of $11.96; (ii) at the option of the holder upon a liquidation event a) paid in cash equal to the outstanding principal and any accrued but unpaid interest or b) into common shares equal to the conversion amount of outstanding principal and any accrued but unpaid interest divided by the conversion price of $11.96; or (iii) upon maturity, settlement in cash at the outstanding accrued interest and principal amount. Certain conversion and redemption features of the July 2021 Convertible Notes were determined to not be clearly and closely associated with the risk of the debt-type host instrument and were required to be separately accounted for as derivative financial instruments. The Company bifurcated these embedded conversion and redemption (“embedded derivatives”) features and classified these as liabilities measured at fair value. The fair value of the derivative liability of $0.7 million was recorded separate from the July 2021 Convertible Notes with an offsetting amount recorded as a debt discount. The debt discount is amortized over the estimated life of the debt using the straight-line method, as the value attributable to the July 2021 Convertible Notes was zero upon issuance. As of June 30, 2022 the unamortized amount and net carrying value of the July 2021 Convertible Notes is $1.7 million and $0.4 million, respectively. The amount by which July 2021 Convertible Notes if-converted value does not exceed its principal is $(1.1) million as of June 30, 2022. As of December 31, 2021 the unamortized amount and net carrying value of the July 2021 Convertible Notes is $1.9 million and $0.2 million, respectively. The amount by which July 2021 Convertible Notes if-converted value exceeds its principal is $1.6 million as of December 31, 2021. In connection with the July 2021 Convertible Notes, the Company issued warrants to purchase 88,213 shares of the Company’s common stock with an exercise price of $0.01 per share and a term of one year (Warrant Tranche 1), 44,106 shares of the Company’s common stock with an exercise price of $11.96 per share and a term of 5 years (Warrant Tranche 2), and 44,106 shares of the Company’s common stock which is exercisable starting twelve months from the issuance date with an exercise price of $11.96 per share and a term of 5 years (Warrant Tranche 3). The fair value of the warrants was determined using the Black-Scholes option-pricing method, with the following assumptions: Warrants Warrants Warrants Fair market value of common stock $ 15.36 $ 15.36 $ 15.36 Expected dividend yield 0 % 0 % 0 % Risk-free interest rate 0.09 % 0.89 % 0.89 % Expected volatility 52.00 % 47.40 % 47.40 % Expected term (in years) 1 5 5 The warrants were recorded to additional paid-in capital during the year ended December 31, 2021. The relative fair value of the warrants issued in connection with the July 2021 Convertible Notes was $0.8 million and was recorded as a debt discount that is being amortized to interest expense under the straight-line method over the term of respective convertible notes. As a result of the beneficial conversion feature associated with the July 2021 Convertible Notes, $0.6 million was added to additional paid-in capital during the year ended December 31, 2021. The beneficial conversion feature was recorded as a debt discount and is being amortized to interest expense under the straight-line method over the term of the respective notes. The Company recognized a total of $0.1 million and $0.2 million in non-cash interest expense related to the July 2021 Convertible Notes for the three and six months ended June 30, 2022, respectively. The Company has also issued convertible notes, September 2021 Convertible Notes, in connection with an acquisition. Refer to Note 7 “Business Combinations” for further details. Convertible notes, current and noncurrent consist of the following (in thousands): As of June 30, As of December 31, 2022 2021 Convertible notes, current: September 2021 Convertible Notes $ 3,372 $ 4,160 Revesting Notes 20 62 Convertible notes, noncurrent: July 2021 Convertible Notes 422 213 September 2021 Convertible Notes 6,628 7,947 Revesting Notes 39 124 Total convertible notes $ 10,481 $ 12,506

Derivative Liability

Derivative Liability	6 Months Ended
	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Liability	Derivative Liability The Company’s derivative liability represents embedded share-settled redemption features bifurcated from its July 2021 Convertible Notes and is carried at fair value. The changes in the fair value of the derivative liability are recorded in other income (expense), net of the Company’s condensed consolidated statements of operations and comprehensive loss. Estimating fair values of derivative financial instruments requires the development of significant and subjective estimates that may, and are likely to, change over the duration of the instrument with related changes in internal and external market factors. Since derivative financial instruments are initially and subsequently carried at fair value, the Company’s income will reflect the volatility in these estimate and assumption changes. The features embedded in the July 2021 Convertible Notes are combined into one compound embedded derivative. The fair value of the embedded derivative was estimated based on the present value of the redemption discount applied to the principal amount of the July 2021 Convertible Notes adjusted to reflect the weighted probability of exercise. The discount rate was based on the risk-free interest rate.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Purchase Commitments The Company has certain commitments from outstanding purchase orders primarily related to technology support, facilities, marketing and branding and professional services. These agreements, which total $24.6 million as of June 30, 2022 and $11.0 million as of December 31, 2021, are cancellable at any time with the Company required to pay all costs incurred through the cancellation date. Contingencies From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of business activities. The Company accrues a liability for such matters when it is probable that future expenditures will be made, and such expenditures can be reasonably estimated. The Company is not subject to any current pending legal matters or claims that would have a material adverse effect on its financial position, results of operations or cash flows. Indemnification The Company enters into standard indemnification agreements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless, and agrees to reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright, patent or other intellectual property infringement claim by any third party with respect to its technology. The term of these indemnification agreements is generally perpetual after the execution of the agreement. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future but have not yet been made. The Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. The Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the individual. No amounts associated with such indemnifications have been recorded to date. Litigation On March 12, 2019, a former alleged competitor of Tile, Cellwitch, Inc, filed a patent infringement claim against the Company in the US District Court, Northern District of California (“Court”). On May 2, 2019, the Company filed a motion to dismiss the case. The plaintiff amended its complaint on May 16, 2019, and the Company filed a renewed motion to dismiss the amended complaint on May 30, 2019. On November 21, 2019, the Court issued an order denying Tile’s motion to dismiss the case but finding the underlying patent to be directed to an abstract idea. On December 18, 2019, Tile filed an inter partes review petition with the Patent Trial and Appeal Board (“PTAB”) challenging the validity of the patent. Both parties appealed the PTAB’s Final Written Decision on Tile’s inter partes review petition, which was affirmed on May 13, 2022. The case is currently in the trial court with discovery stayed, while Tile files a motion for reconsideration of its original motion to dismiss. Separately, another alleged former competitor of Tile, Linquet Technologies, sued Tile for patent infringement. In July 2021, the Court granted Tile’s motion to dismiss in its entirety without leave to amend. Meanwhile, on November 17, 2021, the US Patent and Trademark Office granted Tile’s institution of inter partes review as to all claims of the Linquet patent which is currently pending.

Common Stock

Common Stock	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Common Stock	Common Stock As of June 30, 2022 and December 31, 2021, the Company was authorized to issue up to 100,000,000 shares of par value $0.001 per share common stock. As of June 30, 2022 and December 31, 2021, the Company had 108,592 shares of common stock subject to the Company’s right to repurchase. The Company has also issued shares of common stock as a result of stock option exercises throughout its existence. Common stockholders are entitled to dividends when and if declared by the Board of Directors subject to the prior rights of the preferred stockholders. The holder of each share of common stock is entitled to one vote. The common stockholders voting as a class are entitled to elect three members to the Company’s Board of Directors. No dividends have been declared in the Company’s existence. The Company has reserved shares of common stock, on an as if converted basis, for issuance as follows: As of June 30, As of December 31, 2022 2021 Issuances under stock incentive plan 8,315,495 6,972,376 Issuances upon exercise of common stock warrants 138,076 272,001 Issuances upon vesting of restricted stock units 6,519,538 2,523,122 Issuances of convertible notes 686,926 686,926 Shares reserved for shares available to be granted but not granted yet 1,105,201 4,071,403 16,765,236 14,525,828

Warrants

Warrants	6 Months Ended
	Jun. 30, 2022
Other Liabilities Disclosure [Abstract]
Warrants	Warrants As of June 30, 2022 and December 31, 2021, the Company had outstanding warrants to purchase 138,076 and 272,001 shares of Company common stock, respectively with exercise prices ranging from $0.01 to $11.96 and expiry dates ranging from 2022 to 2028. Refer to Note 9 “Convertible Notes” for further details.

Equity Incentive Plan

Equity Incentive Plan	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plan	Equity Incentive Plan 2011 Equity Incentive Plan The Company’s 2011 Stock Plan was originally adopted by our Board of Directors on July 27, 2011 and our stockholders on October 11, 2011, and most recently amended by our Board on September 7, 2018 and our stockholders (as restated, the “Plan”). The Plan allows us to grant restricted stock units, restricted stock and stock options to employees and consultants of the Company and any of the Company’s parent, subsidiaries, or affiliates, and to the members of our Board of Directors. Options granted under the Plan may be either incentive stock options or nonqualified stock options. Incentive stock options, or ISOs, may be granted only to employees of the Company or any of the Company’s parent or subsidiaries (including officers and directors who are also employees). Nonqualified stock options, or NSOs, may be granted to any person eligible for grants under our Plan. Under the Plan, the Board of Directors determines the per share exercise price of each stock option, which for ISOs shall not be less than 100% of the fair market value of a share on the date of grant; provided that the exercise price of an ISO granted to a stockholder who at the time of grant owns stock representing more than 10% of the voting power of all classes of stock (a “10% stockholder”) shall not be less than 110% of the fair market value of a share on the date of grant. The Board of Directors determines the period over which options vest and become exercisable. Options granted to new employees generally vest over a 4-year period: 25% of the shares vest on the first anniversary from the vesting commencement date of the option and an additional 1/48 th of the shares vest on each monthly anniversary thereafter, subject to the employee’s continuous service through each vesting date. Options granted to continuing employees generally vest monthly over a 4-year period. The Board of Directors also determines the term of options, provided the maximum term for ISOs granted to a 10% stockholder must be no longer than 5 years from date of grant and the maximum term for all other options must be no longer than 10 years from date of grant. If an option holder’s service terminates, options generally terminate 3 months from the date of termination except under certain circumstances such as death or disability. The following summary of stock option activity for the periods presented is as follows: Number of Shares Weighted Weighted Aggregate Balance as of December 31, 2021 6,972,376 5.61 6.71 108,426 Options granted 1,908,934 11.93 Options exercised (334,578) 5.20 Options cancelled/forfeited (231,237) 7.63 Balance as of June 30, 2022 8,315,495 7.03 6.07 11,881 Exercisable as of June 30, 2022 5,023,833 $ 4.51 5.88 $ 10,932 As of June 30, 2022, the Company had 27,294,447 shares authorized for issuance and 1,125,625 shares available for issuance under the Plan. Stock options granted during the six months ended June 30, 2022 had a weighted average grant date fair value of $8.33 per share. The intrinsic values of outstanding, vested, and exercisable options were determined by multiplying the number of shares by the difference in exercise price of the options and the fair value of the common stock as of June 30, 2022 of $5.88 per share, respectively. The intrinsic value of the options exercised represents the difference between the exercise price and the fair market value on the date of exercise. The following summary of Restricted Stock Units (RSU) activity for the periods presented is as follows: Number of Shares Weighted Balance as of December 31, 2021 2,523,122 $ 11.53 RSU granted 5,808,843 12.07 RSU vested and settled (485,969) 8.02 RSU cancelled/forfeited (1,326,458) 13.95 Balance as of June 30, 2022 6,519,538 $ 11.70 The number of RSUs vested and settled includes shares of common stock that the Company withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. Stock Options Granted to Employees The fair value of the employee stock options granted is estimated using the Black-Scholes option-pricing model, based on the following assumptions: Six Months Ended June 30, Year Ended December 31, 2022 2021 Expected terms (in years) 3.87 4.24 Expected volatility 65 % 49 % Risk-free interest rate 2.22 % 0.68 % Expected dividend rate 0 % 0 % Fair Value of Common Stock : As the Company’s stock is traded on the public market, the fair value on the date of the grant is used. Expected Term : The expected term for employees is based on the simplified method, as the Company’s stock options have the following characteristics: (i) granted at-the-money; (ii) exercisability is conditional upon service through the vesting date; (iii) termination of service prior to vesting results in forfeiture; (iv) limited exercise period following termination of service; and (v) options are non-transferable and non-hedgeable, or “plain vanilla” options, and the Company has limited history of exercise data. The expected term for non-employees is based on the remaining contractual term. Expected Volatility : As the Company has limited historical trading data regarding the volatility of its common stock, the expected volatility is based on volatility of a Company of similar entities and the Company’s trading data since IPO. In evaluating similarity, the Company considered factors such as industry, stage of life cycle and size. The Company will continue to analyze the historical stock price volatility and expected term assumptions as more historical data for the Company’s common stock becomes available. Risk-Free Interest Rate: The risk-free interest rate is based on U.S. Treasury constant maturity rates with remaining terms similar to the expected term of the options. Expected Dividend Rate : The Company has never paid any dividends and does not plan to pay dividends in the foreseeable future, and, therefore, an expected dividend rate of zero is used in the valuation model. Forfeitures: The Company accounts for forfeitures as they occur. Equity Awards Issued in Connection with Business Combinations Jio, Inc. In connection with the Jiobit transaction in September 2021, the Company issued 91,217 shares of restricted common stock with an aggregate fair value of $1.9 million to be recognized as post combination stock-based compensation ratably with continuous employment of certain employees over a 3 year period. As of June 30, 2022, there was $0.2 million of unrecognized compensation expense related to the restricted common stock which is expected to be recognized over the remaining weighted average life of 2.2 years. As of December 31, 2021, there was $1.7 million of unrecognized compensation expense related to this restricted common stock which is expected to be recognized over the remaining weighted average life of 2.7 years. Additionally, the Company granted 43,083 service-based stock options under the Plan to certain Jiobit employees with an aggregate fair value of $0.5 million which vests ratably over the requisite service period. As of June 30, 2022, there was $0.3 million of unrecognized compensation expense related to unvested assumed stock options, which is expected to be recognized over the remaining weighted average life of 2.3 years. As of December 31, 2021, there was $0.5 million of unrecognized compensation expense related to unvested assumed stock options, which is expected to be recognized over the remaining weighted average life of 2.0 years. Tile, Inc. In connection with the Tile transaction in January 2022, the Company issued 1,499,349 shares of retention restricted stock units with an aggregate fair value of $29.6 million. Of the 1,499,349 shares of retention restricted stock units, 787,446 shares valued at $15.6 million contained performance vesting criteria based on the achievement of certain company milestones during the second quarter of 2022, and vest over a two year period. As of March 31, 2022, the vesting criteria had not been met and all 787,446 restricted stock units were forfeited. The remaining 711,903 retention restricted stock units vest over a two The Company also issued 38,730 vested common stock options to Tile employees as stock-based compensation on the acquisition date. The aggregate fair value of $0.4 million was recognized as compensation expense on the date of acquisition. A total of 694,672 shares of common stock with an aggregate fair value of $13.7 million were issued to Tile shareholders as part of purchase consideration. All $13.7 million was expensed on the date of acquisition. A total of 1,561 shares of common stock with an aggregate fair value of $0.03 million were issued to a key employee the vesting of which is subject to continued employment over a 30-month period. As of June 30, 2022, there was $0.09 million of unrecognized compensation expense related to unvested restricted stock units which is expected to be recognized over the remaining 2.1 years. A total of 84,360 shares of common stock were issued as part of consideration transferred and were placed in an indemnity escrow fund to be held for fifteen months after the acquisition date for general representations and warranties. The aggregate fair value of $1.7 million was recognized as compensation expense on the date of the acquisition. Stock-Based Compensation Stock-based compensation expense was allocated as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cost of revenue Subscription costs $ 239 $ 102 $ 438 $ 204 Hardware costs 240 — 289 — Other costs 30 19 83 36 Total cost of revenue $ 509 $ 121 $ 810 $ 240 Research and development 5,305 1,837 8,923 3,284 Sales and marketing 1,324 174 2,174 288 General and administrative 3,291 809 4,617 1,328 Total stock-based compensation expense $ 10,429 $ 2,941 $ 16,524 $ 5,140 As of June 30, 2022, there was total unrecognized compensation cost for outstanding stock options of $12.2 million to be recognized over a period of approximately 3.2 years. As of December 31, 2021, there was total unrecognized compensation cost for outstanding stock options of $7.0 million to be recognized over a period of approximately 2.6 years. As of June 30, 2022, there was unrecognized compensation cost for outstanding restricted stock units of $56.8 million to be recognized over a period of approximately 2.8 years. As of December 31, 2021, there was unrecognized compensation cost for outstanding restricted stock units of $26.6 million to be recognized over a period of approximately 3.2 years. There were no capitalized stock-based compensation costs or recognized stock-based compensation tax benefits during the year ended December 31, 2021 or the three and six months ended June 30, 2022.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes for interim periods is determined using an estimated annual effective tax rate in accordance with ASC 740-270, Income Taxes, Interim Reporting. The effective tax rate may be subject to fluctuations during the year as new information is obtained, which may affect the assumptions used to estimate the annual effective tax rate, including factors such as valuation allowances against deferred tax assets, the recognition or de-recognition of tax benefits related to uncertain tax positions, if any, and changes in or the interpretation of tax laws in jurisdictions where the Company conducts business. The Company recorded a provision (benefit) for incomes taxes of $(47.0) thousand and $11.0 thousand for the three and six months ended June 30, 2022, respectively. No provision (benefit) for income taxes was recorded for the three and six months ended June 30, 2021. In accordance with ASC 805, a change in the acquirer’s valuation allowance that stems from a business combination should be recognized as an element of the acquirer’s income tax expense or benefit in the period of

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions The Company has entered into secondary financing transactions and other transactions with certain executive officers and Board members of the Company. A summary of the transactions is detailed below: Notes Due From Affiliates (Contra Equity) In February 2016, the Company issued an aggregate of $0.6 million in secured partial recourse promissory notes (“partially secured loan”) to the Chief Executive Officer, Non-Executive Director (Previously President), Chief Operating Officer and an officer of the Company. The Company accounted for the 2016 partially secured loan as consideration received for the exercise of the related equity award, because even after the original options are exercised or the shares are purchased, an employee could decide not to repay the loan if the value of the shares declines below the outstanding loan amount and could instead choose to return the shares in satisfaction of the loan. The result would be similar to an employee electing not to exercise an option whose exercise price exceeds the current share price. When shares are exchanged for a partially secured loan, the principal and interest are viewed as part of the exercise price of the “option” and no interest income is recognized. Additionally, compensation cost is recognized over any requisite service period, with an offsetting credit to additional paid-in capital. Periodic principal and interest payments, if any, are treated as deposit liabilities until the note is paid off, at which time, the note balance is settled and the deposit liability balance is transferred to additional paid-in capital. During the three months ended June 30, 2022, the Company received proceeds from the repayment of the partially secured loans of $0.6 million. As of June 30, 2022 and December 31, 2021, the Company had deposit liability balances of $0.3 million and $0.7 million, respectively, in connection with the 2016 partially secured loan and other early exercises of equity awards. Principal amounts due under the 2016 partially secured loan are included in Notes Due From Affiliates as a reduction in stockholders’ equity on the condensed consolidated balance sheets. Other Related Party Transactions Non-executive director, James Synge, is a Principal and Partner of Carthona Capital. During the year ended December 31, 2021, the Company entered into a consultancy agreement with non-executive director, James Synge. Under this agreement, Mr. Synge agreed to provide consultancy services to the Company in relation to capital raising matters. During the three months ended March 31, 2022, Mr. Synge received consideration of $100,000. Annika Hulls is the spouse of the CEO and Executive Director, Chris Hulls. During the three months ended March 31, 2022, a cash payment of $6,500 was paid to Annika Hulls for services relating to a marketing campaign.

Defined Contribution Plan

Defined Contribution Plan	6 Months Ended
	Jun. 30, 2022
Retirement Benefits [Abstract]
Defined Contribution Plan	Defined Contribution Plan The Company sponsors a defined contribution plan under Section 401(k) of the Internal Revenue Code covering substantially all employees over the age of 21 years. Contributions made by the Company are voluntary and are determined annually by the Board of Directors on an individual basis subject to the maximum allowable amount under federal tax regulations. The Company has made no contributions to the plan since its inception.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The following table sets forth the computation of basic and diluted net loss per share (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net loss $ (32,985) $ (6,804) $ (58,207) $ (10,656) Weighted-average shares used in computing net loss per share, basic and diluted 61,883 50,405 61,540 50,299 Net loss per share, basic and diluted $ (0.53) $ (0.13) $ (0.95) $ (0.21) The potential shares of common stock that were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive are as follows: As of June 30, As of December 31, 2022 2021 Issuances under stock incentive plan 8,315,495 6,972,376 Issuances upon exercise of common stock warrants 138,076 272,001 Issuances upon vesting of restricted stock units 6,519,538 2,523,122 Issuances of convertible notes 686,926 686,926 Shares reserved for shares available to be granted but not granted yet 1,105,201 4,071,403 16,765,236 14,525,828

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Litigation ResolutionThe Company monitors unauthorized resellers of hardware products and occasionally files litigation against those who fail to respond substantively to cease and desist letters. In July 2022, the Company fully resolved an unauthorized reseller matter and recorded a gain of $0.8 million.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	The unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with generally accepted accounting principles in the United States, or (“GAAP”), are presented in U.S. dollars unless otherwise stated, and include the accounts of Life360, Inc. and subsidiaries, Jio, Inc., Tile, Inc., Tile Europe Ltd and Tile Network Canada ULC. All inter-company transactions and balances have been eliminated.
Consolidation	The unaudited condensed consolidated financial statements and accompanying notes have been prepared in accordance with generally accepted accounting principles in the United States, or (“GAAP”), are presented in U.S. dollars unless otherwise stated, and include the accounts of Life360, Inc. and subsidiaries, Jio, Inc., Tile, Inc., Tile Europe Ltd and Tile Network Canada ULC. All inter-company transactions and balances have been eliminated.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amount of revenue and expenses during the reporting period. Significant estimates made by management include, but are not limited to, the determination of revenue recognition, including the determination of selling prices for distinct performance obligations sold in multiple-performance obligation arrangements, the period over which revenue is recognized for certain arrangements, and estimated delivery dates for orders with title transfer upon delivery, accounts receivable allowance, product returns, promotional and marketing allowances, inventory valuation, average useful customer life, stock-based compensation, legal contingencies, assessment of possible impairment of long-lived assets and goodwill, valuation of contingent consideration, convertible notes and embedded derivatives, useful lives of long lived assets and income taxes including valuation allowances on deferred tax assets. The Company bases its estimates and judgments on historical experience and on various assumptions that it believes are reasonable under the circumstances. Actual results could differ significantly from those estimates.
Recently adopted accounting pronouncements and Accounting pronouncements not yet adopted	Recently adopted accounting pronouncements In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers . The guidance should be applied prospectively to acquisitions occurring on or after the effective date. The guidance is effective for the Company beginning January 1, 2024, and interim periods therein. Early adoption is permitted, including in interim periods, for any financial statements that have not yet been issued. The Company elected to early adopt ASU 2021-08 on September 1, 2021, and the Company has recorded the acquired deferred revenue based on historical carrying value rather than fair value in the condensed consolidated financial statements and related disclosures. In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes (“ASU 2019-12”), as part of its initiative to reduce complexity in accounting standards. ASU 2019-12 removes the following exceptions: exception to the incremental approach for intraperiod tax allocation; exception to accounting for basis differences when there are ownership changes in foreign investments; and exception to interim period tax accounting for year-to-date losses that exceed anticipated losses. ASU 2019-12 also improves financial reporting for franchise taxes that are partially based on income; transactions with a government that result in a step up in the tax basis of goodwill; separate financial statements of legal entities that are not subject to tax; and enacted changes in tax laws in interim periods. ASU 2019-12 is effective for public business entities in fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. For all other entities, the standard is effective in fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption of the standard is permitted, including adoption in interim or annual periods for which financial statements have not yet been issued. On January 1, 2021, the Company adopted ASU 2019-12, and the standard did not have a material impact on its condensed consolidated financial statements and related disclosures. Accounting pronouncements not yet adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, which changes the existing incurred loss impairment model for financial assets held at amortized cost. The new model uses a forward-looking expected loss method to calculate credit loss estimates. These changes will result in earlier recognition of credit losses. In March 2022, the FASB issued ASU 2022-02, Financial Instruments – Credit Losses: Troubled Debt Restructurings and Vintage Disclosures, which updates accounting guidance for troubled debt restructurings by creditors and enhances disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Additionally, the amendments require an entity to disclose gross write-offs by year of origination for financing receivables. The amendments included within ASU 2022-02 become effective after the adoption of ASU 2016-13, which becomes effective for the Company on January 1, 2023 with early adoption permitted. The Company is currently evaluating the impact of the adoption of ASU 2016-13 and ASU 2022-02 on its condensed consolidated financial statements and related disclosures and does not expect a material impact. In August 2020, the FASB issued ASU No. 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. Among other changes, ASU 2020-06 removes from GAAP the liability and equity separation model for convertible instruments with a cash conversion feature, and as a result, after adoption, entities will no longer separately present in equity an embedded conversion feature for such debt. Similarly, the embedded conversion feature will no longer be amortized into income as interest expense over the life of the instrument. Instead, entities will account for a convertible debt instrument wholly as debt unless (1) a convertible instrument contains features that require bifurcation as a derivative under ASC Topic 815, Derivatives and Hedging
Revenue Recognition, Remaining Performance Obligations, Cost of Revenue and Deferred Revenue	Revenue Recognition The Company recognizes revenue upon transfer of control of promised goods or services to customers at transaction price, an amount that reflects the consideration the Company expects to receive in exchange for those goods or services. Transaction price is calculated as selling price net of variable consideration which may include estimates for future returns and sales incentives related to current period revenue. The Company determines revenue recognition through the following steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Performance Obligations Some of the Company’s contracts with customers contain multiple performance obligations, primarily hardware and subscription services for the Tile and Jiobit hardware tracking devices. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative stand-alone selling price (“SSP”) basis with the amounts allocated to ongoing services deferred and recognized over a period of time and amounts allocated to hardware tracking devices recognized at a point-in time with a portion of the consideration being allocated to application usage (maintenance) and support. The Company determines SSP based on observable, if available, prices for those related goods and services when sold separately. When such observable prices are not available, the Company determines SSP based on overarching pricing objectives and strategies, taking into consideration market conditions and other factors, including customer size, volume purchased, market and industry conditions, product-specific factors, and historical sales of the deliverables. For hardware products, the Company generally offers a limited warranty to end-users covering a period of twelve months for products and obligates the Company to repair or replace products for manufacturing defects or hardware component failures. The warranty is not sold separately and does not represent a separate performance obligation. Therefore, such warranties are accounted for under ASC 460, Guarantees, and the estimated costs of warranty claims are generally accrued as cost of revenue in the period the related revenue is recorded. See Note 11 “Commitments and Contingencies” for further details. Variable Consideration The Company recognizes hardware revenue at the net sales price, which includes certain estimates for variable consideration with our customers. The Company’s variable consideration is primarily in the form of promotional agreements and marketing development fund agreements in relation to the hardware tracking devices. These agreements are designed to enhance the sale of the Company’s products and consist of incentives to the Company’s customers. The Company estimates variable considerations using the expected value method. All forms of variable consideration are recorded as contra-revenue and a corresponding liability in its condensed consolidated balance sheet. Certain agreements are estimates at period end due to the nature of the incentives or expected and yet-to-be announced incentive programs that apply to current period revenue transactions. These estimates are based on the Company’s incentive program experience, historical and projected sales data and current contractual terms. The remaining portion of this liability is based on contractual amounts and does not require estimation. Subscription Revenue The Company’s subscription revenue includes related support and is comprised of Life360 mobile application subscriptions as well as subscription service plans for the Tile and Jiobit hardware tracking devices. The Company’s subscription contracts with customers are established at the point of mobile application download and purchase as indicated through acceptance of the Company’s Standard Service Terms. The cloud-based subscriptions are considered single combined performance obligations, consisting of multiple features that can be purchased separately, but which are bundled together and delivered to the customer as a combined output. The Company provides its customers with technical support along with unspecified updates and upgrades to the platform on an if and when available basis. The subscription service plan for the Tile and Jiobit hardware tracking device is a distinct and separate performance obligation from the hardware. Subscription fees are fixed and recognized on a straight-line basis over the non-cancellable contractual term of the agreement, generally beginning on the date that the Company’s service is made available to the customer. Subscription revenue was $36.0 million and $19.2 million for the three months ended June 30, 2022 and 2021, respectively, and $69.1 million and $36.4 million for the six months ended June 30, 2022 and 2021, respectively. Hardware Revenue The Company derives hardware revenue from sale of the Tile and Jiobit hardware tracking devices and related accessories. For hardware and accessories, revenue is recognized at the time products are delivered. The Company offers limited rights of return and estimates reserves based on historical experience and records the reserves as a reduction of revenue and an accrued liability. Amounts billed to customers for shipping and handling are classified as revenue, and the Company’s related shipping and handling costs incurred are classified as cost of revenue. The customers are billed upon shipment of the hardware tracking devices. Sales taxes collected from customers and remitted to respective governmental authorities are recorded as liabilities and are not included in revenue. The Company’s hardware and the embedded operating system are one distinct performance obligation and separate from the subscription service plans for the Tile and Jiobit hardware tracking device. The Company’s embedded operating system is a component of the hardware that is integral to the functionality of the hardware and only together produce the essential functionality of the hardware. The Company offers extended warranties and hardware protection plans that are recognized over the contractual service period (typically 1 to 2 years). Hardware revenue was $6.8 million and $0 for the three months ended June 30, 2022 and 2021, respectively, and $16.5 million and $0 for the six months ended June 30, 2022 and 2021, respectively. Other Revenue Other revenue consists primarily of data revenue and partnership revenue. For the six months ended June 30, 2022, the Company’s data revenue is comprised of Life360 data monetization arrangements with certain third parties established through Data Master Service Agreements (collectively, “Data MSAs”), which outline specific terms governing the access and use of data and related fees. The Company determines a contract to exist upon the mutual execution of a Data MSA. Those customers historically had ability to access certain portions of the Company’s user data over the contract term, in which certain customers pay a fee based on average active monthly users. Most of the Company’s Data MSAs have been terminated as of June 30, 2022 as the Company has moved toward an aggregate data sales model. The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring data to the customer. The Company estimates and includes variable consideration in the transaction price at contract inception to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. In estimating variable consideration in data arrangements, the Company considers historical experience and other external factors that may impact the expectation of future data usage. At each reporting period, the Company assesses actual and expected data usage that will be earned for the duration of the contract term. The payment terms for Data MSAs are monthly. The Company recognizes fees for certain data arrangements over time based on the fee per average active monthly user as the customer simultaneously receives and consumes the benefit of the services that the Company provides over the term of the agreement. In January 2022, Life360 announced a new partnership agreement with Placer.ai (“Placer”), a prominent provider of aggregated analytics for the retail ecosystem, in which executives of the Company have an immaterial ownership interest through a passive investment vehicle. As part of this partnership, Placer will provide data processing and analytics services to Life360 and will have the right to commercialize aggregated data related to place visits during the term of the agreement. This partnership marked the beginning of Life360’s exit from its legacy data sales model and transition to commercialize solely aggregated data, while still providing members the option to opt out of even aggregated data sales. In keeping with the Company’s vision and consistent with that aggregated data sales model, the Company is exploring ways, in the future, to enable members to avail themselves of compelling offers and opportunities by enabling Company partners to use their data with members’ explicit, affirmative opt-in consent. The Placer agreement includes fixed monthly revenue amounts for access to aggregated data for the duration of the three-year agreement. The Company has a stand ready obligation to provide aggregated user data over the term of the agreement and recognizes revenue ratably based on the fixed monthly amounts. The Company estimates and includes variable consideration in the transaction price at contract inception to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. In connection with the agreement, Placer issued the Company a warrant to purchase up to 5,100,167 shares of Series C Preferred Stock at an exercise price of $4.90 per share. The grant of the warrant is considered noncash consideration, which the Company measured at fair value on the date of issuance. The warrant was valued using an option pricing model, and the fair value of approximately $5.4 million, has been included as part of the transaction price of the Placer data partnership agreement, and will be included in prepaid expenses and other assets, noncurrent on the Company’s condensed consolidated balance sheets. Data revenue was $5.0 million and $4.3 million for the three months ended June 30, 2022 and 2021, respectively, and $12.2 million and $8.6 million for the six months ended June 30, 2022 and 2021, respectively. Partnership revenue includes agreements with third parties to provide access to advertising on the Company’s mobile platform. The Company receives a percentage of the advertising spend as a fee, which is recognized as revenue on a net basis. The variable amounts earned under partnership revenue arrangements are allocable to the month in which the advertising is placed, which is reset on a monthly basis. As such, the Company will recognize revenue monthly based on the advertising placed. Partnership revenue was $1.0 million and $1.5 million for the three months ended June 30, 2022 and 2021, respectively, and $2.1 million and $3.0 million for the six months ended June 30, 2022 and 2021, respectively. Remaining Performance Obligations Remaining performance obligations represent the amount of contracted future revenue not yet recognized as the amounts relate to undelivered performance obligations, including both deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. Revenue allocated to remaining performance obligations was $28.3 million as of June 30, 2022, of which the Company expects $24.8 million to be recognized over the next twelve months. Cost of Revenue Cost of subscription revenue includes all direct costs to deliver the Company’s subscription services. These costs include personnel-related costs associated with our cloud-based infrastructure and our customer support organization, third-party hosting fees, software, and maintenance costs, outside services associated with the delivery of our subscription services, personnel-related expenses, travel-related costs, amortization of acquired intangibles and allocated overhead, such as facilities, including rent, utilities, depreciation on equipment shared by all departments, credit card and transaction processing fees, and shared information technology costs. Personnel-related expenses include salaries, bonuses, benefits, and stock-based compensation for operations personnel. Cost of hardware revenue consists of product costs, including hardware production, contract manufacturers for production, shipping and handling, packaging, fulfillment, personnel-related expenses, manufacturing and equipment depreciation, warehousing, tariff costs, hosting, app fees, customer support costs, warranty replacement, and write-downs of excess and obsolete inventory. Personnel-related expenses include salaries, bonuses, benefits, and stock-based compensation for operations personnel.
Costs Capitalized to Obtain Contracts	Costs Capitalized to Obtain Contracts Costs capitalized to obtain contracts comprise of revenue-share payments to the Company’s Channel Partners in connection with annual subscription sales of the Company’s mobile application on each respective mobile application store platform as well as sales commissions paid to employees on hardware sales. Costs that are incremental and directly related to new customer sales contracts are accrued and capitalized upon execution of a non-cancelable customer contract, and subsequently expensed over the average life of the customer relationship, which is currently estimated to be two
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts The Company makes judgments as to its ability to collect outstanding accounts receivable and provide allowances for accounts receivable when and if collection becomes doubtful. The Company evaluates the collectability of its accounts receivable based on review of its past-due balances, known collection risks and historical experience. In circumstances where the Company is aware of a specific customer’s potential inability to meet its financial obligations to the Company (e.g., bankruptcy filings or substantial downgrading of credit ratings), the Company records a specific reserve for bad debt against amounts due to reduce the net recognized receivable to the amount it reasonably believes will be collected.
Inventory and Contract Manufacturing	Inventory and Contract Manufacturing Inventory is comprised of raw materials and finished goods related to the Tile and Jiobit hardware tracking devices and accessories. Inventory is stated at the lower of cost or net realizable value on a weighted average basis. The Company assesses the valuation of inventory and periodically writes down the value for estimated excess and obsolete inventory based upon estimates of future demand and market conditions. The Company’s inventory is held at third party warehouses and contract manufacturer premises.
Significant Risks and Uncertainties	Significant Risks and Uncertainties The Company’s business, operations, and financial results are subject to various risks and uncertainties including adverse global economic conditions, such as the coronavirus (COVID-19) pandemic, and competition in our industry that could adversely affect our business, financial conditions, results of operations and cash flows. These important factors, among others, could cause our actual results to differ materially from any future results. The Company’s customers primarily consist of individual consumers, who subscribe to the Company’s product offerings through market exchanges operated by channel partners, data revenue customers and retail partners, who purchase hardware tracking devices from the Company and resell them directly to individual consumers. Any changes in customer preferences and trends or changes in terms of use of channel partners’ platforms could have an adverse impact on its results of operations and financial condition.
Research and Development Costs	Research and Development Costs The Company charges costs related to research, design, and development of products to research and development expense as incurred. These costs consist of payroll related expenses, contractor fees, outside third-party vendors, and allocated facilities costs.
Advertising Expense	Advertising Expense Advertising expense was $4.6 million and $1.3 million for the three months ended June 30, 2022 and 2021, respectively, and $9.0 million and $2.4 million for the six months ended June 30, 2022 and 2021, respectively. Advertising expenses are recorded in the period in which cost is incurred and are presented within sales and marketing expense on the condensed consolidated statements of operations.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investment securities with remaining maturities at the date of purchase of three months or less to be cash equivalents. Cash and cash equivalents include deposit and money market funds.
Restricted Cash	Restricted Cash Deposits of $15.1 million and $0.4 million were restricted from withdrawal as of June 30, 2022 and December 31, 2021, respectively. $13.1 million of the restricted balance as of June 30, 2022 relates to funds placed in an indemnity escrow fund to be held for fifteen months after the acquisition date of Tile, Inc. for general representations and warranties. $0.7 million of the restricted cash balance as of June 30, 2022 relates to cash deposits restricted under letters of credit issued on behalf of the Company in support of indebtedness to trade creditors incurred in the ordinary course of business. The remaining restricted balance of $1.3 million as of June 30, 2022 is related to securing the Company’s facility leases which will expire in 2022 and 2024 in accordance with the operating lease agreements, as amended. The $0.4 million balance restricted from withdrawal as of December 31, 2021 relates to facility lease agreements. These balances are included in restricted cash on the accompanying condensed consolidated balance sheets.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company uses fair value measurements to record fair value adjustments to certain financial and non-financial assets and liabilities to determine fair value disclosures. The accounting standards define fair value, establish a framework for measuring fair value, and require disclosures about fair value measurements. Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the principal or most advantageous market in which the Company would transact are considered along with assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. The accounting standard for fair value establishes a fair value hierarchy based on three levels of inputs, the first two of which are considered observable and the last unobservable, that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of Inputs that may be used to measure fair value are as follows: Level 1 – Observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Valuations based on unobservable inputs to the valuation methodology and including data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances.
Property and Equipment, net	Property and Equipment, net Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets. Equipment, computer software, furniture, and product manufacturing equipment have estimated useful lives ranging from three
Software Development Costs	Software Development Costs For development costs related to internal use software projects, the Company capitalizes costs incurred during the application development stage. Costs related to preliminary project activities and post implementation activities are expensed as incurred. Internal use software is amortized on a straight-line basis over its estimated useful life of three years. The Company capitalized $0.4 million during the six months ended June 30, 2022. Capitalized costs are included within intangible assets, net on the condensed consolidated balance sheet. The Company did not capitalize any internal use software costs during the six months ended June 30, 2021 as the capitalizable costs were not material.
Lease Obligations	Lease Obligations Operating lease right-of-use assets and lease liabilities are recognized at the present value of the future lease payments at commencement date. The interest rate implicit in the Company’s operating leases is not readily determinable, and therefore an incremental borrowing rate is estimated to determine the present value of future payments. The estimated incremental borrowing rate factors in a hypothetical interest rate on a collateralized basis with similar terms, payments, and economic environments. Operating lease right-of-use assets also include any prepaid lease payments and lease incentives. Certain of the operating lease agreements contain rent concession, rent escalation, and option to renew provisions. Rent concession and rent escalation provisions are considered in determining the straight-line single lease cost to be recorded over the lease term. Single lease cost is recognized on a straight-line basis over the lease term commencing on the date the Company has the right to use the leased property. The lease terms may include options to extend or terminate the lease. The Company generally uses the base, non-cancellable, lease term when recognizing the lease assets and liabilities, unless it is reasonably certain that the renewal option will be exercised.
Business Combinations	Business Combinations The Company uses best estimates and assumptions to assign a fair value to the tangible and intangible assets acquired and liabilities assumed in business combinations as of the acquisition date. These estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed may be recorded, with the corresponding offset to goodwill. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to the Company’s condensed consolidated statements of operations.
Goodwill	Goodwill Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Goodwill amounts are not amortized but tested for impairment on an annual basis during the fourth quarter.
Intangible Assets, net	Intangible Assets, net Intangible assets, including acquired patents, trademarks, customer relationships, and acquired developed technology, and are carried at cost and amortized on a straight-line basis over their estimated useful lives. The Company determines the appropriate useful life of the Company’s intangible assets by measuring the expected cash flows of acquired assets.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company assesses the impairment of long-lived assets, such as property and equipment subject to depreciation and acquired intangibles subject to amortization, when events or changes in circumstances indicate that their carrying amount may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized in the amount by which the carrying amount of the asset exceeds the fair value of the asset.
Investment in Affiliate	Investment in Affiliate Investment in affiliate relates to non-marketable equity securities held in a privately held company without a readily determinable market value. Non-marketable equity securities consist of warrants held to purchase shares of preferred stock of a Data Revenue Partner, refer to Note 2 “Summary of Significant Accounting Policies” for additional information regarding the Company’s Data Revenue Partner. Investments in non-public businesses that do not have readily determinable pricing, and for which the Company does not have control or does not exert significant influence, are carried at cost less impairments, if any, plus or minus changes in observable prices for those investments. Gains or losses resulting from changes in the carrying value of these investments are included as a non-operating expense to the Company’s condensed consolidated statements of operations and comprehensive loss. There have been no adjustments to the basis of the Company’s investment in affiliate to date. The carrying value of the Company’s investment in affiliate is included in prepaid expenses and other assets, noncurrent in the condensed consolidated balance sheets.
Common Stock Warrants	Common Stock Warrants The Company has issued freestanding warrants to purchase shares of common stock in connection with certain debt financing transactions. The warrants are recorded as equity instruments at the grant date fair value using the Black-Scholes option pricing model and are not subject to revaluation at each balance sheet date.
Stock-Based Compensation	Stock-Based Compensation The Company has an equity incentive plan under which various types of equity-based awards including, but not limited to, incentive stock options, non-qualified stock options, restricted stock units, and restricted stock awards, may be granted to employees, nonemployee directors, and nonemployee consultants. For all equity awards granted to employees, nonemployees and directors, the Company recognizes compensation expense based on the grant-date estimated fair values. The fair value of stock options is determined using the Black-Scholes option pricing model. For restricted stock units and restricted stock awards, the fair value is based on the grant date fair value of the award. The Company recognizes compensation expense for stock option awards, restricted stock units, and restricted stock awards on a straight-line basis over the requisite service period of the award, generally three In 2020, the Company granted a market performance award to an executive that is subject to time-based vesting requirements in which vesting is contingent upon the Company’s achievement of certain market performance goals. The fair value of such performance awards was determined using a Monte Carlo simulation and is recognized under the accelerated attribution method over a four year period.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method. The Company estimates actual current tax exposure together with assessing temporary differences resulting from differences in accounting for reporting purposes and tax purposes for certain items, such as accruals and allowances not currently deductible for tax purposes. These temporary differences result in deferred tax assets and liabilities, which are included in the Company’s balance sheets. In general, deferred tax assets represent future tax benefits to be received when certain expenses previously recognized in the Company’s statements of operations and comprehensive loss become deductible expenses under applicable income tax laws or when net operating loss or credit carryforwards are utilized. Accordingly, realization of the Company’s deferred tax assets is dependent on future taxable income against which these deductions, losses and credits can be utilized. The Company must assess the likelihood that the Company’s deferred tax assets will be recovered from future taxable income, and to the extent the Company believes that recovery is not likely, the Company establishes a valuation allowance. The assessment of whether a valuation allowance is required often requires significant judgment including current and historical operating results, the forecast of future taxable income and on-going prudent and feasible tax planning initiatives.
Contingencies	Contingencies From time to time, the Company may have certain contingent liabilities that arise in the ordinary course of business. The Company evaluates the likelihood of an unfavorable outcome in legal or regulatory proceedings to which it is a party and records a loss contingency on an undiscounted basis when it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These judgments are subjective and based on the status of such legal proceedings, the merits of the Company’s defenses, and consultation with legal counsel. Actual outcomes of these legal proceedings may differ materially from the Company’s estimates. The Company estimates accruals for legal expenses when incurred as of each balance sheet date based on the facts and circumstances known to the Company at that time.
Segment Information	Segment Information The Company operates as a single operating segment. The Company’s chief operating decision maker is its chief executive officer, who reviews financial information presented on a consolidated basis for purposes of making operating decisions, assessing financial performance, and allocating resources. All material long-lived assets are based in the United States.
Net Loss Per Share	Net Loss Per Share The Company computes basic and diluted net loss per share in conformity with ASC 260, “Earnings per Share.” Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period without consideration for potentially dilutive securities as they do not share in losses. The diluted net loss per share is computed giving effect to all potential dilutive common stock equivalents outstanding for the period. For purposes of this calculation, options to purchase common stock, common stock warrants, common stock convertible notes, and unvested restricted stock units are considered common stock equivalents but have been excluded from the calculation of diluted net loss per share as the effect is antidilutive.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Channel and retail partners who represented greater than 10% of revenue or accounts receivable	The following tables set forth the information about our channel and retail partners who represented greater than 10% of our revenue or accounts receivable, respectively: Percentage of Revenue Three Months Ended Six Months Ended 2022 2021 2022 2021 Channel Partner A 49 % 58 % 47 % 56 % Channel Partner B 15 % 18 % 15 % 18 % Retail Partner A 13 % * 12 % * * Represents less than 10% Percentage of Gross Accounts As of June 30, As of December 31, 2022 2021 Channel Partner A 37 % 48 % Channel Partner B 12 % 14 % Data Partner A 19 % * Retail Partner A 17 % *

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue by geographic area	The following table sets forth revenue by geographic area (in thousands): Three Months Ended Six Months Ended 2022 2021 2022 2021 North America $ 43,259 $ 23,811 $ 89,311 $ 44,597 Europe, Middle East and Africa 3,379 440 6,579 1,677 Other international regions 2,206 758 3,924 1,727 Total revenue $ 48,844 $ 25,009 $ 99,814 $ 48,001

Deferred Revenue (Tables)

Deferred Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Roll forward of deferred revenue	The following table represents a roll forward of the Company’s deferred revenue (in thousands): Subscription Hardware Other Total Beginning balance as of December 31, 2021 $ 13,864 $ 65 $ — $ 13,929 Acquired deferred revenue 3,714 5,194 — 8,908 Additions to deferred revenue 69,125 29,515 7,965 106,605 Recognized revenue in the period (68,517) (29,720) (2,898) (101,135) Ending balance as of June 30, 2022 $ 18,186 $ 5,054 $ 5,067 $ 28,307 Subscription Other Total Beginning balance as of December 31, 2020 $ 11,686 $ 169 $ 11,855 Additions to deferred revenue 36,696 — 36,696 Recognized revenue in the period (36,369) (169) (36,538) Ending balance as of June 30, 2021 $ 12,013 $ — $ 12,013

Costs Capitalized to Obtain C_2

Costs Capitalized to Obtain Contracts (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Costs capitalized to obtain contracts	The following table represents a roll forward of the Company’s costs capitalized to obtain contracts, net (in thousands): Beginning balance as of December 31, 2021 $ 1,649 Acquired costs capitalized to obtain contracts 849 Additions to costs capitalized to obtain contracts 951 Amortization of deferred commissions (1,671) Ending balance as of June 30, 2022 $ 1,778 Costs capitalized to obtain contracts, current $ 1,582 Costs capitalized to obtain contracts, net of current 196 Total costs capitalized to obtain contracts as of June 30, 2022 $ 1,778 Beginning balance as of December 31, 2020 3,950 Additions to costs capitalized to obtain contracts 1,048 Amortization of deferred commissions (2,255) Ending balance as of June 30, 2021 $ 2,743 Costs capitalized to obtain contracts, current 2,223 Costs capitalized to obtain contracts, net of current 520 Total costs capitalized to obtain contracts as of June 30, 2021 $ 2,743

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair value and classification of instruments	The fair value of these instruments as of June 30, 2022 and December 31, 2021 are classified as follows (in thousands): As of June 30, 2022 Level 1 Level 2 Level 3 Total Liabilities: Derivative liability $ — $ — $ 68 $ 68 Convertible notes (Note 9) — — 10,059 10,059 Total $ — $ — $ 10,127 $ 10,127 As of December 31, 2021 Level 1 Level 2 Level 3 Total Liabilities: Derivative liability $ — $ — $ 1,396 $ 1,396 Convertible notes (Note 9) — — 12,293 12,293 Contingent consideration — — 9,500 9,500 Total $ — $ — $ 23,189 $ 23,189
Change in fair value of convertible notes and contingent liability	The change in fair value of the Level 3 instruments were as follows (in thousands): As of June 30, 2022 Derivative Convertible Contingent Fair value, beginning of the year $ 1,396 $ 12,293 $ 9,500 Vesting of revesting notes — 108 — Forfeiture of revesting notes — (235) — Issuance of common stock in settlement of contingent consideration — — (4,221) Changes in fair value (1,328) (2,107) (5,279) Fair value, end of quarter $ 68 $ 10,059 $ — As of December 31, 2021 Derivative Convertible Contingent Fair value, beginning of the year $ — $ — $ — Issuance of derivative liability 663 — — Issuances of convertible notes — 11,597 — Issuance of revesting notes — 186 — Issuance of contingent consideration — — 5,900 Changes in fair value 733 510 3,600 Fair value, end of year $ 1,396 $ 12,293 $ 9,500

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Jun. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Fair value assumptions	The estimated fair value of the September 2021 Convertible Notes is determined using a combination of the present value of the cash flows and the Black-Scholes option pricing model using assumptions as follows: As of September 1, As of December 31, As of June 30, 2021 2021 2022 Principal $ 11,206 $ 11,206 $ 10,068 Interest rate 4.5 % 4.5 % 4.8 % Common stock fair value per share 20.49 21.16 5.88 Conversion price per share 22.50 22.50 22.50 Risk-free interest rate 0.45 % 0.88 % 2.93 % Time to exercise (in years) 3.00 2.70 2.17 Volatility 37 % 43 % 60 % Annual dividend yield 0 % 0 % 0 % The fair value of the warrants was determined using the Black-Scholes option-pricing method, with the following assumptions: Warrants Warrants Warrants Fair market value of common stock $ 15.36 $ 15.36 $ 15.36 Expected dividend yield 0 % 0 % 0 % Risk-free interest rate 0.09 % 0.89 % 0.89 % Expected volatility 52.00 % 47.40 % 47.40 % Expected term (in years) 1 5 5
Assets acquired and liabilities assumed	The assets acquired and liabilities assumed in connection with the acquisition were recorded at their fair value on the date of acquisition as follows (in thousands): Fair Value Net tangible assets $ 5,986 Intangible assets 8,400 Goodwill 30,363 Liabilities assumed (1,551) Total acquisition consideration $ 43,198 The assets acquired and liabilities assumed in connection with the acquisition were recorded at their fair value on the date of acquisition as follows (in thousands): Fair Value Cash $ 32,997 Restricted cash 1,050 Accounts receivable 27,826 Prepaid expenses and other current assets 5,004 Inventory 7,523 Property and equipment 570 Prepaid expenses and other assets, noncurrent 482 Intangible assets 52,700 Goodwill 102,117 Accounts payable (23,197) Accrued expenses and other current liabilities (24,613) Deferred revenue (8,908) Total acquisition consideration $ 173,551
Identifiable intangible assets acquired	The following table sets forth the components of identifiable intangible assets acquired (in thousands) and their estimated useful lives as of the date of acquisition: Fair Value Estimated Useful Developed technology $ 4,030 5 Trade name 3,380 10 Customer relationships 990 10 Total identified intangible assets $ 8,400 The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition: Fair Value (in thousands) Estimated Useful Life (in years) Developed technology $ 18,400 5 Trade name 20,000 10 Customer relationships 14,300 8 Total identified intangible assets $ 52,700

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable, net	As of June 30, As of December 31, 2022 2021 Accounts receivable $ 19,638 $ 11,772 Allowance for doubtful accounts (94) — Accounts receivable, net $ 19,544 $ 11,772
Inventory	Inventory consists of the following (in thousands): As of June 30, As of December 31, 2022 2021 Raw materials $ 1,464 $ 1,298 Finished goods 9,674 711 Total inventory $ 11,138 $ 2,009
Prepaid expenses and other assets	Prepaid expenses and other current assets consist of the following (in thousands): As of June 30, As of December 31, 2022 2021 Prepaid expenses $ 9,030 $ 9,798 Other receivables 2,119 792 Total prepaid expenses and other current assets $ 11,149 $ 10,590 Prepaid expenses and other assets, noncurrent consist of the following (in thousands): As of June 30, As of December 31, 2022 2021 Prepaid expenses $ 2,396 $ 3,324 Investment in affiliate 5,474 — Other assets 180 367 Total prepaid expenses and other assets, noncurrent $ 8,050 $ 3,691
Property and equipment, net	Property and equipment, net consists of the following (in thousands): As of June 30, As of December 31, 2022 2021 Computer equipment $ 671 $ 479 Leasehold improvements 1,007 923 Production manufacturing equipment 624 378 Furniture and fixtures 431 422 Total property and equipment, gross 2,733 2,202 Less: accumulated depreciation (2,072) (1,622) Total property and equipment, net $ 661 $ 580
Operating lease costs	Operating lease costs were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Operating lease cost (1) $ 604 $ 354 $ 1,194 $ 709
Maturities of operating lease liabilities	Maturities of the Company’s operating lease liabilities, which do not include short-term leases, as of June 30, 2022 were as follows (in thousands): Operating leases Remainder of 2022 $ 1,178 2023 931 2024 61 Total future minimum lease payments 2,170 Less imputed interest (60) Total operating lease liability $ 2,110
Intangibles, net	Intangible assets, net consists of the following (in thousands): As of June 30, As of December 31, 2022 2021 Intellectual property $ 225 $ 225 Licenses 237 237 Trade name 23,380 3,380 Technology 22,685 4,285 Customer relationships 15,290 990 Internal use software 396 — Total intangible assets, gross 62,213 9,117 Less: accumulated amortization (5,391) (1,131) Total intangible assets, net $ 56,822 $ 7,986 The weighted-average remaining useful lives of the Company’s acquired intangible assets are as follows: Weighted-Average Remaining Useful Life As of June 30, As of December 31, 2022 2021 Trade name 9.5 years 9.7 years Technology 4.4 years 4.5 years Customer relationships 7.6 years 9.7 years The detail of intangible assets, net is as follows (in thousands): As of June 30, 2022 Intellectual Licenses Trade Technology Customer Internal use software Total Total intangible assets $ 225 $ 237 $ 23,380 $ 22,685 $ 15,290 $ 396 $ 62,213 Less accumulated amortization (225) (237) (1,255) (2,717) (952) (5) (5,391) Total intangible assets, net $ — $ — $ 22,125 $ 19,968 $ 14,338 $ 391 $ 56,822 As of December 31, 2021 Intellectual Licenses Trade Technology Customer Total Total intangible assets $ 225 $ 237 $ 3,380 $ 4,285 $ 990 $ 9,117 Less accumulated amortization (225) (237) (113) (523) (33) (1,131) Total intangible assets, net $ — $ — $ 3,267 $ 3,762 $ 957 $ 7,986
Estimated remaining amortization expense for intangible assets	As of June 30, 2022, estimated remaining amortization expense for intangible assets by fiscal year is as follows (in thousands): Amount Remainder of 2022 $ 4,369 2023 8,737 2024 8,737 2025 8,719 2026 8,442 Beyond 17,502 Total future amortization expense $ 56,506
Goodwill	Goodwill consists of the following (in thousands): Balance as of December 31, 2021 $ 31,127 Acquisitions 102,117 Balance as of June 30, 2022 $ 133,244
Accrued expenses and other liabilities	Accrued expenses and other liabilities consist of the following (in thousands): As of June 30, As of December 31, 2022 2021 Accrued vendor expenses $ 14,183 $ 7,478 Accrued compensation 4,002 1,324 Customer related promotions and discounts 4,605 — Operating lease liability 1,658 1,574 Other current liabilities 4,965 171 Total accrued expenses and other liabilities $ 29,413 $ 10,547
Other non-current liabilities	Other noncurrent liabilities consist of the following (in thousands): As of June 30, As of December 31, 2022 2021 Deposit liabilities $ 256 $ 916 Other noncurrent liabilities 582 — Operating lease liability 447 289 Total other noncurrent liabilities $ 1,285 $ 1,205

Convertible Notes (Tables)

Convertible Notes (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Fair value assumptions	The estimated fair value of the September 2021 Convertible Notes is determined using a combination of the present value of the cash flows and the Black-Scholes option pricing model using assumptions as follows: As of September 1, As of December 31, As of June 30, 2021 2021 2022 Principal $ 11,206 $ 11,206 $ 10,068 Interest rate 4.5 % 4.5 % 4.8 % Common stock fair value per share 20.49 21.16 5.88 Conversion price per share 22.50 22.50 22.50 Risk-free interest rate 0.45 % 0.88 % 2.93 % Time to exercise (in years) 3.00 2.70 2.17 Volatility 37 % 43 % 60 % Annual dividend yield 0 % 0 % 0 % The fair value of the warrants was determined using the Black-Scholes option-pricing method, with the following assumptions: Warrants Warrants Warrants Fair market value of common stock $ 15.36 $ 15.36 $ 15.36 Expected dividend yield 0 % 0 % 0 % Risk-free interest rate 0.09 % 0.89 % 0.89 % Expected volatility 52.00 % 47.40 % 47.40 % Expected term (in years) 1 5 5
Convertible notes	Convertible notes, current and noncurrent consist of the following (in thousands): As of June 30, As of December 31, 2022 2021 Convertible notes, current: September 2021 Convertible Notes $ 3,372 $ 4,160 Revesting Notes 20 62 Convertible notes, noncurrent: July 2021 Convertible Notes 422 213 September 2021 Convertible Notes 6,628 7,947 Revesting Notes 39 124 Total convertible notes $ 10,481 $ 12,506

Common Stock (Tables)

Common Stock (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Reserved shares of common stock	The Company has reserved shares of common stock, on an as if converted basis, for issuance as follows: As of June 30, As of December 31, 2022 2021 Issuances under stock incentive plan 8,315,495 6,972,376 Issuances upon exercise of common stock warrants 138,076 272,001 Issuances upon vesting of restricted stock units 6,519,538 2,523,122 Issuances of convertible notes 686,926 686,926 Shares reserved for shares available to be granted but not granted yet 1,105,201 4,071,403 16,765,236 14,525,828

Equity Incentive Plan (Tables)

Equity Incentive Plan (Tables)	6 Months Ended
	Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock option activity	The following summary of stock option activity for the periods presented is as follows: Number of Shares Weighted Weighted Aggregate Balance as of December 31, 2021 6,972,376 5.61 6.71 108,426 Options granted 1,908,934 11.93 Options exercised (334,578) 5.20 Options cancelled/forfeited (231,237) 7.63 Balance as of June 30, 2022 8,315,495 7.03 6.07 11,881 Exercisable as of June 30, 2022 5,023,833 $ 4.51 5.88 $ 10,932
Restricted Stock Units activity	The following summary of Restricted Stock Units (RSU) activity for the periods presented is as follows: Number of Shares Weighted Balance as of December 31, 2021 2,523,122 $ 11.53 RSU granted 5,808,843 12.07 RSU vested and settled (485,969) 8.02 RSU cancelled/forfeited (1,326,458) 13.95 Balance as of June 30, 2022 6,519,538 $ 11.70
Fair value assumptions	The fair value of the employee stock options granted is estimated using the Black-Scholes option-pricing model, based on the following assumptions: Six Months Ended June 30, Year Ended December 31, 2022 2021 Expected terms (in years) 3.87 4.24 Expected volatility 65 % 49 % Risk-free interest rate 2.22 % 0.68 % Expected dividend rate 0 % 0 %
Stock-based compensation expense	Stock-based compensation expense was allocated as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Cost of revenue Subscription costs $ 239 $ 102 $ 438 $ 204 Hardware costs 240 — 289 — Other costs 30 19 83 36 Total cost of revenue $ 509 $ 121 $ 810 $ 240 Research and development 5,305 1,837 8,923 3,284 Sales and marketing 1,324 174 2,174 288 General and administrative 3,291 809 4,617 1,328 Total stock-based compensation expense $ 10,429 $ 2,941 $ 16,524 $ 5,140

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Computation of basic and diluted net loss per share	The following table sets forth the computation of basic and diluted net loss per share (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net loss $ (32,985) $ (6,804) $ (58,207) $ (10,656) Weighted-average shares used in computing net loss per share, basic and diluted 61,883 50,405 61,540 50,299 Net loss per share, basic and diluted $ (0.53) $ (0.13) $ (0.95) $ (0.21)
Antidilutive common shares excluded from computation	The potential shares of common stock that were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive are as follows: As of June 30, As of December 31, 2022 2021 Issuances under stock incentive plan 8,315,495 6,972,376 Issuances upon exercise of common stock warrants 138,076 272,001 Issuances upon vesting of restricted stock units 6,519,538 2,523,122 Issuances of convertible notes 686,926 686,926 Shares reserved for shares available to be granted but not granted yet 1,105,201 4,071,403 16,765,236 14,525,828

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Revenue Recognition (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jan. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 48,844	$ 25,009	$ 99,814	$ 48,001
Partnership agreement term			3 years
Number of shares to purchase under warrants (in shares)	138,076		138,076			272,001
Remaining performance obligation, amount	$ 28,300		$ 28,300
Preferred Warrant
Disaggregation of Revenue [Line Items]
Exercise price or warrants (in usd per share)					$ 4.90
Fair value of warrant					$ 5,400
Preferred Warrant | Series C Preferred Stock
Disaggregation of Revenue [Line Items]
Number of shares to purchase under warrants (in shares)					5,100,167
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Disaggregation of Revenue [Line Items]
Remaining performance obligation, amount	$ 24,800		$ 24,800
Remaining performance obligation, expected timing of satisfaction	12 months		12 months
Minimum
Disaggregation of Revenue [Line Items]
Warranty term			1 year
Exercise price or warrants (in usd per share)	$ 0.01		$ 0.01
Capitalized contract costs, amortization period	2 years		2 years
Maximum
Disaggregation of Revenue [Line Items]
Warranty term			2 years
Exercise price or warrants (in usd per share)	$ 11.96		$ 11.96
Capitalized contract costs, amortization period	3 years		3 years
Subscription
Disaggregation of Revenue [Line Items]
Total revenue	$ 36,006	19,237	$ 69,068	36,369
Hardware
Disaggregation of Revenue [Line Items]
Total revenue	6,816	0	16,463	0
Data
Disaggregation of Revenue [Line Items]
Total revenue	5,000	4,300	12,200	8,600
Partnership
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,000	$ 1,500	$ 2,100	$ 3,000

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Other Narrative Sections (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 0		$ 0		$ 0
Bad debt expense	0	$ 0	0	$ 0
Advertising expense	4.6	1.3	9	2.4
Impairment of goodwill	0	0	0	0
Impairment of intangible assets	0	0	0	0
Impairment of long-lived assets	0	0	0	0
Interest and penalties related to uncertain tax positions	$ 0	$ 0	$ 0	$ 0
Number of operating segments | segment			1

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Channel and Retail Partners Greater Than 10% (Details) - Customer concentration risk	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue benchmark | Channel Partner A
Concentration Risk [Line Items]
Concentration risk, percentage	49%	58%	47%	56%
Revenue benchmark | Channel Partner B
Concentration Risk [Line Items]
Concentration risk, percentage	15%	18%	15%	18%
Revenue benchmark | Retail Partner A
Concentration Risk [Line Items]
Concentration risk, percentage	13%		12%
Accounts receivable | Channel Partner A
Concentration Risk [Line Items]
Concentration risk, percentage			37%		48%
Accounts receivable | Channel Partner B
Concentration Risk [Line Items]
Concentration risk, percentage			12%		14%
Accounts receivable | Data Partner A
Concentration Risk [Line Items]
Concentration risk, percentage			19%
Accounts receivable | Retail Partner A
Concentration Risk [Line Items]
Concentration risk, percentage			17%

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 15,056	$ 355	$ 197
Consideration, indemnity escrow, term	15 months
Indemnity escrow fund
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 13,100
Letters of credit
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	700
Leases
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 1,300	$ 400

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Property and Equipment, net (Details)	6 Months Ended
	Jun. 30, 2022
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	10 years

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Software Development Costs (Details) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Property, Plant and Equipment [Line Items]
Capitalized software development costs	$ 0.4
Internal use software
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years

Summary of Significant Accou_10

Summary of Significant Accounting Policies - Stock-Based Compensation (Details)	6 Months Ended
	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	4 years
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service period	3 years
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service period	4 years

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 48,844	$ 25,009	$ 99,814	$ 48,001
North America
Disaggregation of Revenue [Line Items]
Total revenue	43,259	23,811	89,311	44,597
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Total revenue	3,379	440	6,579	1,677
Other international regions
Disaggregation of Revenue [Line Items]
Total revenue	$ 2,206	$ 758	$ 3,924	$ 1,727

Deferred Revenue (Details)

Deferred Revenue (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 13,929
Acquired deferred revenue	8,908
Additions to deferred revenue	106,605
Recognized revenue in the period	(101,135)
Ending balance	28,307
Subscription
Contract With Customer, Liability [Roll Forward]
Beginning balance	13,864	$ 11,686
Acquired deferred revenue	3,714
Additions to deferred revenue	69,125	36,696
Recognized revenue in the period	(68,517)	(36,369)
Ending balance	18,186	12,013
Hardware
Contract With Customer, Liability [Roll Forward]
Beginning balance	65	169
Acquired deferred revenue	5,194
Additions to deferred revenue	29,515	0
Recognized revenue in the period	(29,720)	(169)
Ending balance	5,054	0
Other
Contract With Customer, Liability [Roll Forward]
Beginning balance	0	11,855
Acquired deferred revenue	0
Additions to deferred revenue	7,965	36,696
Recognized revenue in the period	(2,898)	(36,538)
Ending balance	$ 5,067	$ 12,013

Costs Capitalized to Obtain C_3

Costs Capitalized to Obtain Contracts (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Capitalized Contract Cost [Roll Forward]
Beginning balance	$ 1,649	$ 3,950
Acquired costs capitalized to obtain contracts	849
Additions to costs capitalized to obtain contracts	951	1,048
Amortization of deferred commissions	(1,671)	(2,255)
Ending balance	1,778	2,743
Costs capitalized to obtain contracts, current	1,582	2,223	$ 1,319
Costs capitalized to obtain contracts, net of current	196	520	330
Total costs capitalized to obtain contracts	$ 1,778	$ 2,743	$ 1,649
Minimum
Capitalized Contract Cost [Line Items]
Capitalized contract costs, amortization period	2 years
Maximum
Capitalized Contract Cost [Line Items]
Capitalized contract costs, amortization period	3 years

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value and Classification of Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jul. 31, 2021
Liabilities:
Derivative liability	$ 68	$ 1,396	$ 700
Convertible notes (Note 9)	10,059	12,293
Contingent consideration		9,500
Total	10,127	23,189
Level 1
Liabilities:
Derivative liability	0	0
Convertible notes (Note 9)	0	0
Contingent consideration		0
Total	0	0
Level 2
Liabilities:
Derivative liability	0	0
Convertible notes (Note 9)	0	0
Contingent consideration		0
Total	0	0
Level 3
Liabilities:
Derivative liability	68	1,396
Convertible notes (Note 9)	10,059	12,293
Contingent consideration		9,500
Total	$ 10,127	$ 23,189

Fair Value Measurements - Chang

Fair Value Measurements - Change in Fair Value of Convertible Notes and Contingent Liability (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Derivative liability
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, beginning of the year		$ 1,396	$ 0
Vesting/Issuances			663
Changes in fair value	$ (400)	(1,328)	733
Fair value, end of quarter	68	68	1,396
Convertible notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, beginning of the year		12,293	0
Vesting/Issuances		108
Settlements		(235)
Changes in fair value	(500)	(2,107)	510
Fair value, end of quarter	10,059	10,059	12,293
Convertible notes | Convertible Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Vesting/Issuances			11,597
Convertible notes | Revesting Notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Vesting/Issuances			186
Contingent consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, beginning of the year		9,500	0
Vesting/Issuances			5,900
Settlements		(4,221)
Changes in fair value		(5,279)	3,600
Fair value, end of quarter	$ 0	$ 0	$ 9,500

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain on revaluation of contingent consideration	$ 1,300		$ 5,279	$ 0
Derivative liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) for change in fair value	400		1,328		$ (733)
Gain on revaluation of contingent consideration		$ 0		0
Convertible notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) for change in fair value	500		2,107		(510)
Gain on revaluation of contingent consideration		0		0
Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Gain (loss) for change in fair value			$ 5,279		$ (3,600)
Gain on revaluation of contingent consideration	$ 1,300	$ 0		$ 0

Business Combinations - Jio Nar

Business Combinations - Jio Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended	3 Months Ended		6 Months Ended
	Sep. 01, 2021	Apr. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Business Acquisition [Line Items]
Contingent consideration							$ 9,500
Fair value of stock issued in connection with an acquisition					$ 15,409	$ 0
Consideration, indemnity escrow, term					15 months
Vesting period					4 years
Stock-based compensation			$ 10,429	$ 2,941	$ 16,524	5,140
Convertible notes fair value adjustment			(532)	$ 0	(2,107)	0
Retention bonuses, vesting period	24 months
Gain on revaluation of contingent consideration			1,300		$ 5,279	$ 0
Issuance of common stock in settlement of contingent consideration			$ 4,221
Contingent Consideration Target One
Business Acquisition [Line Items]
Continent consideration target percentage	100%
Contingent Consideration Target Two | Minimum
Business Acquisition [Line Items]
Continent consideration target percentage	90%
Contingent Consideration Target Two | Maximum
Business Acquisition [Line Items]
Continent consideration target percentage	100%
Contingent Consideration Target Three
Business Acquisition [Line Items]
Continent consideration target percentage	90%
2021 Contingent Consideration
Business Acquisition [Line Items]
Contingent consideration							6,300
2022 Contingent Consideration
Business Acquisition [Line Items]
Contingent consideration							$ 3,100
September 2021 Convertible Notes
Business Acquisition [Line Items]
Convertible notes conversion price (in usd per share)	$ 22.50
Convertible notes, repayment of principal, percentage per year	33.33%
September 2021 Convertible Notes | Convertible notes
Business Acquisition [Line Items]
Convertible notes conversion price (in usd per share)	$ 22.50		$ 22.50		$ 22.50		$ 22.50
Stock options
Business Acquisition [Line Items]
Vesting period					4 years
Revesting Stock
Business Acquisition [Line Items]
Stock-based compensation		$ (300)	$ 0		$ 200
Revesting Notes
Business Acquisition [Line Items]
Stock-based compensation		$ (300)
Convertible notes fair value adjustment			$ 0		$ 100
Jio
Business Acquisition [Line Items]
Aggregate purchase consideration	$ 43,200
Consideration paid in cash	7,300
Contingent consideration	5,900
Consideration, fair value of convertible notes	11,600
Consideration, forgiveness of convertible debt	4,000
Fair value of stock issued in connection with an acquisition	$ 13,800
Consideration, stock issued (in shares)	674,516
Consideration, indemnity escrow	$ 200
Consideration, indemnity escrow, term	15 months
Excluded consideration	$ 6,000
Excluded consideration, revesting convertible notes	1,600
Excluded consideration, retention bonuses	1,000
Transaction related expenses	1,000
Contingent consideration, amendment percentage		50%
Issuance of common stock in settlement of contingent consideration (in shares)		376,573
Issuance of common stock in settlement of contingent consideration		$ 4,200
Acquisition consideration	43,198
Deferred tax liability	100
Jio | 2021 Contingent Consideration
Business Acquisition [Line Items]
Contingent consideration	$ 100
Contingent consideration (in shares)	301,261
Jio | 2022 Contingent Consideration
Business Acquisition [Line Items]
Contingent consideration	$ 5,800
Contingent consideration (in shares)	451,891
Jio | Convertible notes
Business Acquisition [Line Items]
Vesting period	3 years
Jio | Stock options
Business Acquisition [Line Items]
Consideration, replacement awards	$ 600
Consideration, replacement awards (in shares)	25,245
Excluded consideration, share-based compensation	$ 500
Excluded consideration, share-based compensation (in shares)	43,083
Jio | Restricted stock
Business Acquisition [Line Items]
Excluded consideration, revesting stock	$ 1,900
Excluded consideration, revesting stock (in shares)	91,217
Vesting period	3 years
Jio | Revesting Stock
Business Acquisition [Line Items]
Vesting period	3 years

Business Combinations - Fair Va

Business Combinations - Fair Value Assumptions (Details) - September 2021 Convertible Notes $ / shares in Units, $ in Thousands	Jun. 30, 2022 USD ($) year $ / shares	Dec. 31, 2021 USD ($) year $ / shares	Sep. 01, 2021 USD ($) year $ / shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Conversion price per share (in usd per share)			$ 22.50
Convertible notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Principal | $	$ 10,068	$ 11,206	$ 11,206
Interest rate	4.80%	4.50%	4.50%
Common stock fair value per share (usd per share)	$ 5.88	$ 21.16	$ 20.49
Conversion price per share (in usd per share)	$ 22.50	$ 22.50	$ 22.50
Risk-free interest rate | Convertible notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible notes, measurement input	0.0293	0.0088	0.0045
Time to exercise | Convertible notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible notes, measurement input | year	2.17	2.70	3
Expected volatility | Convertible notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible notes, measurement input	0.60	0.43	0.37
Annual dividend yield | Convertible notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Convertible notes, measurement input	0	0	0

Business Combinations - Assets

Business Combinations - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jan. 05, 2022	Dec. 31, 2021	Sep. 01, 2021
Business Acquisition [Line Items]
Goodwill	$ 133,244		$ 31,127
Jio
Business Acquisition [Line Items]
Net tangible assets				$ 5,986
Intangible assets				8,400
Goodwill				30,363
Liabilities assumed				(1,551)
Total acquisition consideration				$ 43,198
Tile
Business Acquisition [Line Items]
Cash		$ 32,997
Restricted cash		1,050
Accounts receivable		27,826
Prepaid expenses and other current assets		5,004
Inventory		7,523
Property and equipment		570
Prepaid expenses and other assets, noncurrent		482
Intangible assets		52,700
Goodwill		102,117
Accounts payable		(23,197)
Accrued expenses and other current liabilities		(24,613)
Deferred revenue		(8,908)
Total acquisition consideration		$ 173,551

Business Combinations - Identif

Business Combinations - Identifiable Intangible Assets Acquired (Details) - USD ($) $ in Thousands	Jan. 05, 2022	Sep. 01, 2021
Jio
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 8,400
Jio | Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 4,030
Estimated Useful Life (in years)		5 years
Jio | Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 3,380
Estimated Useful Life (in years)		10 years
Jio | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value		$ 990
Estimated Useful Life (in years)		10 years
Tile
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 52,700
Tile | Developed technology
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 18,400
Estimated Useful Life (in years)	5 years
Tile | Trade name
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 20,000
Estimated Useful Life (in years)	10 years
Tile | Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 14,300
Estimated Useful Life (in years)	8 years

Business Combinations - Tile Na

Business Combinations - Tile Narrative (Details) - USD ($) $ in Thousands		6 Months Ended
	Jan. 05, 2022	Jun. 30, 2022	Jun. 30, 2021
Business Acquisition [Line Items]
Fair value of stock issued in connection with an acquisition		$ 15,409	$ 0
Consideration, indemnity escrow, term		15 months
Vesting period		4 years
Stock options
Business Acquisition [Line Items]
Vesting period		4 years
Tile
Business Acquisition [Line Items]
Aggregate purchase consideration	$ 173,600
Consideration paid in cash	158,000
Fair value of stock issued in connection with an acquisition	$ 15,600
Consideration, stock issued (in shares)	780,593
Contingent consideration (in shares)	534,465
Consideration, indemnity escrow	$ 14,100
Consideration, indemnity escrow (in shares)	84,524
Consideration, indemnity escrow, term	15 months
Excluded consideration	$ 35,000
Excluded consideration, share-based compensation (in shares)	1,499,349
Excluded consideration, retention bonuses	$ 3,000
Transaction related expenses	$ 1,700
Excluded consideration, shares granted (in shares)	1,561
Excluded consideration, contingent consideration, shares granted (in shares)	4,784
Tile | Restricted stock units
Business Acquisition [Line Items]
Excluded consideration, share-based compensation (in shares)	1,499,349	711,903
Excluded consideration, share-based compensation	$ 29,600
Tile | Restricted stock units | Minimum
Business Acquisition [Line Items]
Vesting period		2 years
Tile | Restricted stock units | Maximum
Business Acquisition [Line Items]
Vesting period		4 years
Tile | Stock options
Business Acquisition [Line Items]
Excluded consideration, share-based compensation (in shares)	38,730
Excluded consideration, share-based compensation	$ 400
Tile | Performance shares
Business Acquisition [Line Items]
Excluded consideration, share-based compensation (in shares)	787,446
Excluded consideration, share-based compensation	$ 15,600
Vesting period	2 years

Balance Sheet Components- Accou

Balance Sheet Components- Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable	$ 19,638	$ 11,772
Allowance for doubtful accounts	(94)	0
Accounts receivable, net	$ 19,544	$ 11,772

Balance Sheet Components - Inve

Balance Sheet Components - Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 1,464	$ 1,298
Finished goods	9,674	711
Total inventory	$ 11,138	$ 2,009

Balance Sheet Components - Prep

Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 9,030	$ 9,798
Other receivables	2,119	792
Total prepaid expenses and other current assets	$ 11,149	$ 10,590

Balance Sheet Components - Prop

Balance Sheet Components - Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 2,733		$ 2,733		$ 2,202
Less: accumulated depreciation	(2,072)		(2,072)		(1,622)
Total property and equipment, net	661		661		580
Depreciation	100	$ 100	200	$ 200
Computer equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	671		671		479
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	1,007		1,007		923
Production manufacturing equipment
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	624		624		378
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 431		$ 431		$ 422

Balance Sheet Components - Pr_2

Balance Sheet Components - Prepaid Expenses and Other Assets, Non-Current (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid expenses	$ 2,396	$ 3,324
Investment in affiliate	5,474	0
Other assets	180	367
Total prepaid expenses and other assets, noncurrent	$ 8,050	$ 3,691

Balance Sheet Components - Leas

Balance Sheet Components - Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Right-of-use-asset	$ 2,024		$ 2,024		$ 1,627
Short term lease liabilities	1,658		1,658		1,574
Long-term lease liabilities	$ 447		$ 447		$ 289
Short term lease liabilities location	Accrued expenses and other liabilities		Accrued expenses and other liabilities		Accrued expenses and other liabilities
Long-term lease liabilities location	Other noncurrent liabilities		Other noncurrent liabilities		Other noncurrent liabilities
Operating lease costs	$ 604	$ 354	$ 1,194	$ 709
Weighted-average remaining term	1 year 1 month 6 days		1 year 1 month 6 days		1 year 3 months 18 days
Weighted-average discount rate	5%		5%		4.80%
Maturities of operating lease liabilities
Remainder of 2022	$ 1,178		$ 1,178
2023	931		931
2024	61		61
Total future minimum lease payments	2,170		2,170
Less imputed interest	(60)		(60)
Total operating lease liability	$ 2,110		$ 2,110
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	4 years		4 years

Balance Sheet Components - Inta

Balance Sheet Components - Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	$ 62,213	$ 9,117
Less: accumulated amortization	(5,391)	(1,131)
Total intangible assets, net	56,822	7,986
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	225	225
Less: accumulated amortization	(225)	(225)
Total intangible assets, net	0	0
Licenses
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	237	237
Less: accumulated amortization	(237)	(237)
Total intangible assets, net	0	0
Trade name
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	23,380	3,380
Less: accumulated amortization	(1,255)	(113)
Total intangible assets, net	22,125	3,267
Technology
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	22,685	4,285
Less: accumulated amortization	(2,717)	(523)
Total intangible assets, net	19,968	3,762
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	15,290	990
Less: accumulated amortization	(952)	(33)
Total intangible assets, net	14,338	957
Internal use software
Finite-Lived Intangible Assets [Line Items]
Total intangible assets, gross	396	$ 0
Less: accumulated amortization	(5)
Total intangible assets, net	$ 391

Balance Sheet Components - In_2

Balance Sheet Components - Intangible Assets Remaining Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Amortization expense	$ 2,200	$ 0	$ 4,300	$ 0
Intangible assets not yet in service	300		300
Remainder of 2022	4,369		4,369
2023	8,737		8,737
2024	8,737		8,737
2025	8,719		8,719
2026	8,442		8,442
Beyond	17,502		17,502
Total intangible assets, net	$ 56,506		$ 56,506

Balance Sheet Components - In_3

Balance Sheet Components - Intangible Assets, Weighted-Average Remaining Useful Life (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Trade name
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life	9 years 6 months	9 years 8 months 12 days
Technology
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life	4 years 4 months 24 days	4 years 6 months
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Useful Life	7 years 7 months 6 days	9 years 8 months 12 days

Balance Sheet Components - Good

Balance Sheet Components - Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Roll Forward]
Balance as of December 31, 2021	$ 31,127
Acquisitions	102,117
Balance as of June 30, 2022	$ 133,244

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued vendor expenses	$ 14,183	$ 7,478
Accrued compensation	4,002	1,324
Customer related promotions and discounts	4,605	0
Operating lease liability	1,658	1,574
Other current liabilities	4,965	171
Total accrued expenses and other liabilities	$ 29,413	$ 10,547

Balance Sheet Components - Escr

Balance Sheet Components - Escrow Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consideration, indemnity escrow, term	15 months
Escrow liability	$ 13,094	$ 0

Balance Sheet Components - Othe

Balance Sheet Components - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deposit liabilities	$ 256	$ 916
Other noncurrent liabilities	582	0
Operating lease liability	447	289
Total other noncurrent liabilities	$ 1,285	$ 1,205

Convertible Notes - Narrative (

Convertible Notes - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Jul. 31, 2021	Jun. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Derivative liability	$ 700	$ 68	$ 68	$ 1,396
Warrants Tranche 1
Debt Instrument [Line Items]
Warrants (in shares)	88,213
Exercise price or warrants (in usd per share)	$ 0.01
Term of warrants	1 year
Warrants Tranche 2
Debt Instrument [Line Items]
Warrants (in shares)	44,106
Exercise price or warrants (in usd per share)	$ 11.96
Term of warrants	5 years
Warrants Tranche 3
Debt Instrument [Line Items]
Warrants (in shares)	44,106
Exercise price or warrants (in usd per share)	$ 11.96
Term of warrants	5 years
Restriction period of warrants	12 months
July 2021 Convertible Notes
Debt Instrument [Line Items]
Principal amount	$ 2,100
Annual interest rate	4%
Conversion price per share (in usd per share)	$ 11.96
Unamortized amount		1,700	1,700	1,900
Carrying amount		400	400	200
Amount by which if-converted value (does not exceed)/exceeds principal		(1,100)	(1,100)	$ 1,600
Debt discount	$ 800
Beneficial conversion feature	$ 600
Interest expense		$ 100	$ 200

Convertible Notes - Fair Value

Convertible Notes - Fair Value Assumptions (Details)	Jul. 31, 2021 $ / shares
Warrants Tranche 1
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term	1 year
Warrants Tranche 1 | Fair market value of common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	15.36
Warrants Tranche 1 | Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0
Warrants Tranche 1 | Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.0009
Warrants Tranche 1 | Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.5200
Warrants Tranche 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term	5 years
Warrants Tranche 2 | Fair market value of common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	15.36
Warrants Tranche 2 | Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0
Warrants Tranche 2 | Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.0089
Warrants Tranche 2 | Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.4740
Warrants Tranche 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected term	5 years
Warrants Tranche 3 | Fair market value of common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	15.36
Warrants Tranche 3 | Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0
Warrants Tranche 3 | Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.0089
Warrants Tranche 3 | Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.4740

Convertible Notes - Current and

Convertible Notes - Current and Non-Current (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Convertible notes, current:	$ 3,392	$ 4,222
Convertible notes, noncurrent:	7,089	8,284
Total convertible notes	10,481	12,506
July 2021 Convertible Notes
Debt Instrument [Line Items]
Convertible notes, noncurrent:	422	213
September 2021 Convertible Notes
Debt Instrument [Line Items]
Convertible notes, current:	3,372	4,160
Convertible notes, noncurrent:	6,628	7,947
Revesting Notes
Debt Instrument [Line Items]
Convertible notes, current:	20	62
Convertible notes, noncurrent:	$ 39	$ 124

Derivative Liability (Details)

Derivative Liability (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jul. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative liability	$ 68	$ 1,396	$ 700

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Purchase commitments	$ 24.6	$ 11

Common Stock - Narrative (Detai

Common Stock - Narrative (Details) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Equity [Abstract]
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock subject to repurchase (in shares)	108,592	108,592

Common Stock - Shares Reserved

Common Stock - Shares Reserved for Issuance (Details) - shares	Jun. 30, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	16,765,236	14,525,828
Issuances under stock incentive plan
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	8,315,495	6,972,376
Issuances upon exercise of common stock warrants
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	138,076	272,001
Issuances upon vesting of restricted stock units
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	6,519,538	2,523,122
Issuances of convertible notes
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	686,926	686,926
Shares reserved for shares available to be granted but not granted yet
Class of Stock [Line Items]
Reserved shares of common stock (in shares)	1,105,201	4,071,403

Warrants (Details)

Warrants (Details) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Class of Warrant or Right [Line Items]
Number of shares to purchase under warrants (in shares)	138,076	272,001
Minimum
Class of Warrant or Right [Line Items]
Exercise price or warrants (in usd per share)	$ 0.01
Maximum
Class of Warrant or Right [Line Items]
Exercise price or warrants (in usd per share)	$ 11.96

Equity Incentive Plan - Narrati

Equity Incentive Plan - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended	6 Months Ended	12 Months Ended
	Jan. 05, 2022	Sep. 01, 2021	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Grant date fair value percentage				100%
Vesting period				4 years
Expiration period				10 years
Shares authorized for issuance (in shares)				27,294,447
Shares available for issuance (in shares)				1,125,625
Stock options granted, weighted average grant date fair value (in usd per share)				$ 8.33
Intrinsic value (in usd per share)				$ 5.88
Consideration, indemnity escrow, term				15 months
Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service period				3 years
Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Service period				4 years
Jio
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Consideration, indemnity escrow, term		15 months
Transaction related expenses		$ 1,000
Tile
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Excluded consideration, share-based compensation (in shares)	1,499,349
Awards forfeited (in shares)			787,446
Excluded consideration, shares granted (in shares)	1,561
Purchase consideration (in shares)	694,672
Purchase consideration	$ 13,700
Consideration, indemnity escrow (in shares)	84,360
Consideration, indemnity escrow, term	15 months
Transaction related expenses	$ 1,700
10% Stockholder
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Grant date fair value percentage				110%
Expiration period				5 years
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period				4 years
Unrecognized compensation expense, period for recognition				3 years 2 months 12 days	2 years 7 months 6 days
Unrecognized compensation expense, stock options				$ 12,200	$ 7,000
Stock options | Jio
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense, period for recognition				2 years 3 months 18 days	2 years
Excluded consideration, share-based compensation (in shares)		43,083
Excluded consideration, share-based compensation		$ 500
Unrecognized compensation expense, stock options				$ 300	$ 500
Stock options | Tile
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Excluded consideration, share-based compensation (in shares)	38,730
Excluded consideration, share-based compensation	$ 400
Terminated stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expiration period				3 months
Restricted stock | Jio
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period		3 years
Excluded consideration, revesting stock (in shares)		91,217
Excluded consideration, revesting stock		$ 1,900
Unrecognized compensation expense, other awards				$ 200	$ 1,700
Unrecognized compensation expense, period for recognition				2 years 2 months 12 days	2 years 8 months 12 days
Restricted stock | Tile
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense, other awards				$ 90
Unrecognized compensation expense, period for recognition				2 years 1 month 6 days
Grants in period, aggregate fair value				$ 30
Service period				30 months
Restricted stock units
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense, other awards					$ 26,600	$ 56,800
Unrecognized compensation expense, period for recognition				2 years 9 months 18 days	3 years 2 months 12 days
Awards forfeited (in shares)				1,326,458
Restricted stock units | Tile
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation expense, other awards				$ 9,400
Unrecognized compensation expense, period for recognition				2 years
Excluded consideration, share-based compensation (in shares)	1,499,349			711,903
Excluded consideration, share-based compensation	$ 29,600
Restricted stock units | Tile | Minimum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period				2 years
Restricted stock units | Tile | Maximum
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period				4 years
Performance shares | Tile
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	2 years
Excluded consideration, share-based compensation (in shares)	787,446
Excluded consideration, share-based compensation	$ 15,600

Equity Incentive Plan - Stock O

Equity Incentive Plan - Stock Option Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Number of Shares Underlying Outstanding Options
Balance (in shares) | shares	6,972,376
Options granted (in shares) | shares	1,908,934
Options exercised (in shares) | shares	(334,578)
Options cancelled/forfeited (in shares) | shares	(231,237)
Balance (in shares) | shares	8,315,495	6,972,376
Exercisable (in shares) | shares	5,023,833
Weighted Average Exercise Price Per Share
Balance (in usd per share) | $ / shares	$ 5.61
Options granted (in usd per share) | $ / shares	11.93
Options exercised (in usd per share) | $ / shares	5.20
Options cancelled/forfeited (in usd per share) | $ / shares	7.63
Balance (in usd per share) | $ / shares	7.03	$ 5.61
Exercisable (in usd per share) | $ / shares	$ 4.51
Weighted Average Remaining Contractual Life, Balance	6 years 25 days	6 years 8 months 15 days
Weighted Average Remaining Contractual Life, Exercisable	5 years 10 months 17 days
Aggregate Intrinsic Value, Balance | $	$ 11,881	$ 108,426
Aggregate Intrinsic Value, Exercisable | $	$ 10,932

Equity Incentive Plan - Restric

Equity Incentive Plan - Restricted Stock Units Activity (Details) - Restricted stock units	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Number of Shares
Balance (in shares) | shares	2,523,122
RSU granted (in shares) | shares	5,808,843
RSU vested and settled (in shares) | shares	(485,969)
RSU cancelled/forfeited (in shares) | shares	(1,326,458)
Balance (in shares) | shares	6,519,538
Weighted average grant date fair value
Balance (in usd per share) | $ / shares	$ 11.53
RSU granted (in usd per share) | $ / shares	12.07
RSU vested and settled (in usd per share) | $ / shares	8.02
RSU cancelled/forfeited (in usd per share) | $ / shares	13.95
Balance (in usd per share) | $ / shares	$ 11.70

Equity Incentive Plan - Fair Va

Equity Incentive Plan - Fair Value Assumptions (Details) - Stock options	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Expected term	3 years 10 months 13 days	4 years 2 months 26 days
Expected volatility	65%	49%
Risk-free interest rate	2.22%	0.68%
Expected dividend rate	0%	0%

Equity Incentive Plan - Stock-B

Equity Incentive Plan - Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 10,429	$ 2,941	$ 16,524	$ 5,140
Cost of revenue
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	509	121	810	240
Cost of revenue | Subscription
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	239	102	438	204
Cost of revenue | Hardware
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	240	0	289	0
Cost of revenue | Other
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	30	19	83	36
Research and development
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	5,305	1,837	8,923	3,284
Sales and marketing
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	1,324	174	2,174	288
General and administrative
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation expense	$ 3,291	$ 809	$ 4,617	$ 1,328

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ (47,000)	$ 0	$ 11,000	$ 0
Income tax benefit, partial release of valuation allowance	0		96,000
Income tax expense, state income taxes	$ 107,000		$ 107,000

Related-Party Transactions (Det

Related-Party Transactions (Details) - USD ($)	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Feb. 29, 2016
Chief Executive Officer
Related Party Transaction [Line Items]
Secured notes related party				$ 600,000
Proceeds from repayment of notes	$ 600,000
Deposit liabilities	$ 300,000		$ 700,000
Director
Related Party Transaction [Line Items]
Related party expenses		$ 100,000
Spouse of Chief Executive Officer
Related Party Transaction [Line Items]
Related party expenses		$ 6,500

Net Loss Per Share - Computatio

Net Loss Per Share - Computation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Net loss, basic	$ (32,985)	$ (6,804)	$ (58,207)	$ (10,656)
Net loss, diluted	$ (32,985)	$ (6,804)	$ (58,207)	$ (10,656)
Weighted-average shares used in computing net loss per share, basic (in shares)	61,883,022	50,405,267	61,540,024	50,298,528
Weighted-average shares used in computing net loss per share, diluted (in shares)	61,883,022	50,405,267	61,540,024	50,298,528
Net loss per share, basic (in usd per share)	$ (0.53)	$ (0.13)	$ (0.95)	$ (0.21)
Net loss per share, diluted (in usd per share)	$ (0.53)	$ (0.13)	$ (0.95)	$ (0.21)

Net Loss Per Share - Antidiluti

Net Loss Per Share - Antidilutive Shares (Details) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock (in shares)	16,765,236	14,525,828
Issuances under stock incentive plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock (in shares)	8,315,495	6,972,376
Issuances upon exercise of common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock (in shares)	138,076	272,001
Issuances upon vesting of restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock (in shares)	6,519,538	2,523,122
Issuances of convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock (in shares)	686,926	686,926
Shares reserved for shares available to be granted but not granted yet
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive common stock (in shares)	1,105,201	4,071,403

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	1 Months Ended
	Jul. 31, 2022 USD ($)
Subsequent Event
Subsequent Event [Line Items]
Gain related to litigation settlement	$ 0.8