LIF · CIK 0001581760
What Life360, Inc. told the SEC could break it.
Life360's disclosures center on dependencies it doesn't control across distribution and hardware. Roughly 71% of its revenue is processed through two app-store partners — about 52% via Apple and 19% via Google — and its apps are almost exclusively distributed and approved through their platforms, exposing it to their fees, policies, and removal decisions. On the hardware side, its Tile and Jiobit devices are made in Malaysia and the PRC by a single contract manufacturer, Jabil, with no readily available alternate source, and U.S. tariffs on that supply chain already crushed hardware gross margin to 1% in 2025 from 18% a year earlier — with further China or Malaysia tariffs threatening more.
3 self-disclosed vulnerabilities, pulled from its own filings — each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Customer concentration
- App-store channel concentration — ~52% of revenue processed through Apple and ~19% through Google (≈71% combined); apps almost exclusively distributed via the two app stores and subject to their policies/fees/approvalsmedium
Life360's revenue flows overwhelmingly through two app-store channel partners: Apple processed approximately 52% and Google approximately 19% of revenue in 2025 (~71% combined). Its mobile apps (Life360, Tile, Jiobit) are almost exclusively accessed through the Apple App Store and the Google Play Store, and it depends on Apple and Google approving its apps. This exposes Life360 to the platforms' policies, in-app-purchase fee structures (typically 15-30%), app-review/approval decisions, ranking/feature changes, and the risk of removal — any of which could materially affect revenue and distribution. Captured separately as Apple and Google platform edges; this risk records the channel-concentration/policy-dependence.
“Our mobile applications are almost exclusively accessed through the Apple App Store and the Google Play Store, and we depend on Apple and Google approving our mobile applications on their respective platforms.”
SEC filing →As of 2026
Regulatory & policy
- Tariffs on hardware made in Malaysia/PRC — already cut hardware gross margin to 1% in 2025 (from 18%); further China/Malaysia tariffs would raise costsmedium
Life360's hardware (Tile/Jiobit) is manufactured in Malaysia and the PRC, making product pricing and availability susceptible to U.S. import tariffs. The impact is already realized: hardware gross margin collapsed to 1% in 2025 from 18% in 2024, primarily due to increased discounts and tariff costs (cost of hardware revenue rose ~$3.9M on higher tariff rates/mix). If additional tariffs on Chinese-origin goods (or PRC countermeasures, or tariffs on Malaysia-made goods) are imposed, or supply-chain transformation lags, costs and gross margins could be further harmed. A realized, material trade-policy exposure on its hardware supply chain.
“Hardware gross margin decreased to 1% during the year ended December 31, 2025 from 18% during the year ended December 31, 2024, primarily due to an increase in discounts and tariff costs.”
Supplier concentration
- Jabil is the designated sole contract manufacturer for all hardware; manufacturing concentrated in Malaysia and the PRC with no readily available alternate sourcemedium
Life360 outsources all hardware (Tile/Jiobit) manufacturing to a single designated contract manufacturer, Jabil, with facilities in Malaysia and the PRC. If Jabil or a fulfillment partner is disrupted (natural disaster, political/social/economic instability, labor unrest, pandemic, or PRC regulatory/legal changes), Life360 may be unable to increase capacity from other sources or develop alternate/secondary sources without material additional costs and substantial production delays. Concentrating production with one CM in two jurisdictions (one being the PRC, where the government exercises substantial control) heightens single-source and geographic-concentration supply risk. Captured alongside the named Jabil edge; this risk records the sole-CM/PRC-concentration vulnerability.
“Our manufacturer's facilities are located in Malaysia and the PRC.”
SEC filing →As of 2026
The hidden graph
Who it depends on, and who depends on it.
Relationships surfaced from filings — including ones disclosed by the other side, which is how the non-obvious ones come to light.
Its suppliers
Google (Alphabet Inc.) — Google Play Store
“Our mobile applications are almost exclusively accessed through the Apple App Store and the Google Play Store, and we depend on Apple and Google approving our mobile applications on their respective platforms.”
Cited →“We outsource the manufacturing of our hardware products to our contract manufacturer, Jabil, located in Asia. Jabil has been designated the sole contract manufacturer of our hardware products.”
Cited →“Our mobile applications are almost exclusively accessed through the Apple App Store and the Google Play Store, and we depend on Apple and Google approving our mobile applications on their respective platforms.”
Cited →
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