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The DroneShield Ltd (ASX: DRO) share price has been turbulent in trade on Wednesday, bouncing from gains to losses and back again.

At time of writing the DroneShield share price is up 2.1% to 24 cents per share.

The company offers AI-based platforms to protect against threats posed by drones and other autonomous systems.

Below we look at the quarterly highlights reported this morning for the 3 months ending 31 March.

What results were announced?

The DroneShield share price is on a bit of a rollercoaster today despite the company reporting some strong quarterly results.

That included an 89% year-on-year boost in revenue, which reached $10.6 million.

The ASX tech share also saw a 32% increase in customer and grant cash receipts for the first quarter compared to Q1 2021.

DroneShield also said its inventory balance of $14 million (by sale value) diminishes supply chain risks and enables rapid sales.

As at 31 March the company’s bank balance stood at roughly $8 million, which is where it remains as of this morning. It said monthly gross outflows, before revenues, are around $1.1 million per month.

Looking ahead, DroneShield estimates its sales pipeline for the rest of 2022 to be some $155 million. In 2023 this pipeline is estimated to stand at $175 million.

The company intends to increase its focus on “the more business-transparent US and Australian government customer base”.

It sees significant opportunities globally, noting the situations in the Middle East and the conflict in Ukraine, alongside an ongoing increase in local defence capability by the Australian government.

Outside of the military, airports also offer a potential growth segment, with DroneShield reporting that US and Australian airports, among others, are “actively evaluating counter-drone deployments”.

Droneshield share price snapshot

The DroneShield share price had been a strong performer in 2022, up 31% since the opening bell on 4 January. By comparison, the All Ordinaries Index (ASX: XAO) is down 5% year-to-date.

The post DroneShield share price turbulent as revenue soars 89% appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended DroneShield Ltd. The Motley Fool Australia has recommended DroneShield Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Reject Shop Ltd (ASX: TRS) share price is freefalling on Wednesday following the shock exit of the company’s CEO.

At the time of writing, the discount retailer’s shares are changing hands at $4.32, down 15.29%.

Reject Shop CEO departs

Investors are selling off the Reject Shop shares after the unexpected announcement regarding its most senior leader.

In today’s statement, the Reject Shop advised that CEO Andre Reich has tendered his resignation with immediate effect.

After serving two years at the helm, Mr Reich has decided to pursue other opportunities away from the company. This comes after the group completed the ‘fix’ phase of its turnaround strategy while navigating the uncertainty around COVID-19.

While the company searches for a permanent replacement, its chief financial officer (CFO), Clinton Cahn, has been appointed acting CEO.

Mr Cahn will continue to fulfil his CFO responsibilities while covering the new duties required within the CEO capacity.

Commenting on the news, Reject Shop chair Steven Fisher said:

Everyone at the Reject Shop wishes Andre well in his future endeavours and we thank Andre for the work he has done to position the company for future growth.

We have commenced an external search to identify an experienced executive to lead the company through the next phases of the turnaround strategy.

The Reject Shop also advised today it has strengthened its leadership team with the appointment of experienced retail professional Amy Eshuys as chief operating officer.

The company said Ms Eshuys brought a wealth of knowledge to the role, with extensive international merchandise experience and a strong understanding of discount variety retail.

Previously, she served as vice president as well as general merchandise manager for buying, merchandising & sourcing at CTS (formerly known as Christmas Tree Shops) in the United States.

About the Reject Shop share price

After hitting a 52-week high of $7.60 in November 2021, the Reject Shop share price has been falling steadily. Its shares are now down more than 30% over the past 12 months.

Year-to-date, Reject Shop shares have fallen further, registering a loss of around 40%.

Based on today’s price, the company has a market capitalisation of roughly $165 million.

The post The Reject Shop share price tumbles 15% following shock resignation appeared first on The Motley Fool Australia.

More reading

• Why is the EML share price tumbling again today?
• AMP share price sinks amid latest Collimate deal news
• ASX 200 midday update: Coronado has record quarter, Life360 and Northern Star sink
• Why Apple stock could crush the market this earnings season
• Own CBA shares? Meet the big bank’s new chair

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The EML Payments Ltd (ASX: EML) share price is down more than 2% today.

This follows the payment company’s shares dropping 38% yesterday after the release of a trading update that included a reduction of guidance.

However, EML isn’t the only business that’s seeing a decline today. The S&P/ASX 200 Index (ASX: XJO) as a whole is down around 1% at the time of writing. Some of the biggest tech names are also down heavily. For example, the Block Inc (ASX: SQ2) share price is around 6% lower.

EML’s trading update

Yesterday, EML reported growth in the three months to 31 March 2022.

Gross debit volume (GDV) increased 408% to $23.9 billion. In the 2022 financial year to date, GDV was up 272% to $55.5 billion compared to the prior corresponding period. The Sentenial acquisition was responsible for $38 billion of the GDV. Excluding Sentenial, GDV increased 17%.

In the third quarter, revenue was up 21% year on year to $59.8 million. The gross profit was up 17% to $42.2 million. However, due to a 50% increase in underlying overheads, underlying earnings before interest, tax, depreciation and amortisation (EBITDA) only rose by 14% to $13.6 million.

FY22 third-quarter underlying net profit after tax (NPATA) increased 22% to $8.1 million.

Reduction of FY22 guidance

While the company reported growth in the third quarter, it reduced its guidance for some metrics.

EML said that its EBITDA guidance for FY22 was reduced by approximately 8% to a range of between $52 million to $55 million. The previous guidance was a range of between $103 million to $112 million. FY21 underlying EBITDA was $53.5 million.

The ASX share said that its Australian and North American businesses were performing in line with expectations.

However, it reported “operational execution issues in Europe and a more risk averse approach to new programs impacted the launch of new programs”. EML is expecting “continued challenges” in the fourth quarter, which is the current quarter, leading to the reported downgrade of guidance.

The FY22 GDV guidance range was reduced from $81 billion to $88 billion, down to $79 billion to $84 billion.

FY22 revenue is now expected to be between $225 million to $235 million, down from $230 million to $250 million.

Underlying overheads are expected to be between $106 million and $109 million. That’s a tightening from the previous guidance of between $103 million to $112 million.

Underlying NPATA guidance is now $27 million to $30 million. The previous guidance was a range of between $27 million to $34 million. That compares to FY21’s underlying NPATA of $32.4 million.

The gross profit margin is expected to be around 69%. This guidance wasn’t changed but it would represent an increase from 67% in FY21.

EML is planning on a number of operational initiatives to drive a recovery in Europe in FY23.

Spotlight on insider sale

There has also been media attention on EML Chair Peter Martin selling 200,000 shares a few weeks before the update, which has seen the EML Payments share price subsequently plunge.

The Australian was not able to establish reasons for the sale of shares after seeking comment. The newspaper was told Martin was “offline with a case of COVID-19”.

EML share price snapshot

Since the start of the year, the EML share price has fallen more than 50%.

The post Why is the EML share price tumbling again today? appeared first on The Motley Fool Australia.

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• ASX 200 midday update: Coronado has record quarter, Life360 and Northern Star sink
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• 5 things to watch on the ASX 200 on Wednesday
• Are these 2 ASX tech shares top ideas for May 2022?

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Block, Inc. and EML Payments. The Motley Fool Australia owns and has recommended Block, Inc. and EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The AMP Ltd (ASX: AMP) share price is dropping on Wednesday after the company confirmed the sale of the Collimate Capital real estate and domestic infrastructure business.

The business – along with its potential $1 billion price tag – will be picked up by Dexus Property Group (ASX: DXS).

Confirmation of the sale comes one week after the companies confirmed they were discussing the business, which was previously earmarked to be demerged.

At the time of writing, the AMP share price is $1.03, 0.48% lower than its previous close.

That’s a better performance than that of the broader market on Wednesday. Right now, the S&P/ASX 200 Index (ASX: XJO) has slumped 0.78%.

The S&P/ASX 200 Financials Index (ASX: XFJ) is also trading lower today, slipping 1.26%.

AMP share price falls as Collimate sells

The AMP share price is trading lower on news Dexus will purchase part of Collimate’s real estate and domestic infrastructure business.

Dexus will buy the business – which houses $31 billion of assets under management (AUM) ­– for an upfront $250 million cash payment.

AMP may also see a $300 million payday in the form of an earn-out agreement.

The earn-out is subject to the retention of the business’ AUM over the nine months following the sale.

Though, AMP doesn’t believe it will bank the full $300 million fee. It expects the business’ AUM to dip by around $3 billion.

Finally, Dexus will purchase AMP’s existing and committed sponsor stakes in the platform, worth $180 million and $270 million, respectively.

That portion of the agreement is expected to cost the real estate investment company $450 million, subject to third-party discussions.

The funds will be used to pay down AMP’s debt and conduct a capital return – for which it will need regulatory and shareholder approval.

AMP will hold onto its 24.99% stake in PCCP and sponsor stake in PCCP Fund VIII following the sale.

The embattled financial services company will now be focusing on the sale of Collimate’s international infrastructure equity business.

Several entities have shown interest in acquiring the business, which holds $9 billion of AUM.

But, according to reporting in The Australian, the main contender to take over the international infrastructure leg is United States firm DigitalBridge Group.

What did management say?

AMP CEO Alexis George commented on the sale:

In Dexus we have found a strong owner for the real estate and domestic infrastructure equity businesses, which will add significant value through their strong track record and experience in real estate and asset management. Their depth of talent will strongly complement our specialist teams.

AMP share price snapshot

Today’s dip hasn’t been enough to push the AMP share price into the long-term red.

Right now, the financial services provider’s stock is trading 3% higher than it was at the start of 2022.

Though, it has slipped 8% since this time last year.

The post AMP share price sinks amid latest Collimate deal news appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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At lunch on Wednesday, the S&P/ASX 200 Index (ASX: XJO) is on course to record another disappointing decline. The benchmark index is currently down 0.75% to 7,263.2 points.

Here’s what is happening on the ASX 200 today:

Life360 shares crash on quarterly update

The Life360 Inc (ASX: 360) share price has crashed lower after the tech selloff offset the release of the location technology company’s quarterly update. Life360 reported a 129% increase in revenue to US$52.7 million and a 73% jump in annualised monthly revenue to US$166.1 million. This was driven by a 36% increase in monthly active users to 38.3 million. And while Life360 reported a large decrease in its cash balance, this was due to the Tile acquisition. On a pro forma basis, its cash balance actually increased slightly over the period.

Northern Star shares under pressure

The Northern Star Resources Ltd (ASX: NST) share price is tumbling after a poor quarterly update offset a rise in the gold price. According to the update, the gold miner has increased its costs guidance due to issues at the Pogo operation. Northern Star now expects all-in sustaining costs (AISC) of A$1,600 to A$1,640 per ounce in FY 2022. This is up from its previous guidance of A$1,475 to A$1,575 per ounce.

Coronado has record quarter

The Coronado Global Resources Inc (ASX: CRN) share price is pushing higher today after the release of a record quarterly update. Thanks to a sky high coal price, Coronado reported record quarterly revenue of $947 million. This was up 22.3% on the previous record of US$775 million recorded in the prior quarter.

Best and worst ASX 200 performers

The best performer on the ASX 200 on Wednesday has been the Downer EDI Limited (ASX: DOW) share price with a 4.5% gain. This follows the release of the contract services company’s investor day presentation. The worst performer by some distance has been the Life360 share price with a 20% decline. This follows weakness in the tech sector and the release of its quarterly update.

The post ASX 200 midday update: Coronado has record quarter, Life360 and Northern Star sink appeared first on The Motley Fool Australia.

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• Life360 share price tumbles 18% as cash reserves get chewed up
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Motley Fool contributor James Mickleboro owns Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Life360, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Apple (NASDAQ: AAPL) has held its ground despite the severe sell-off in technology stocks this year, with shares of the iPhone maker down just 10% in 2022 as compared to the 25% drop in the Nasdaq-100 Technology Sector index.

Investors, however, can expect Apple stock to get a nice boost when it releases its fiscal 2022 second-quarter results for the three months ended March 26, on April 28. Let’s look at what’s expected from Apple in Q2 and why the stage seems set for another round of solid numbers from the tech giant.

Solid iPhone demand could help Apple exceed expectations

When Apple released its fiscal first-quarter results in January this year, the company decided against issuing formal guidance, citing “continued uncertainty around the world in the near term.” However, CFO Luca Maestri did point out on the company’s January earnings conference call that Apple could “achieve solid year-over-year revenue growth and set a March quarter revenue record despite significant supply constraints.”

Maestri also added that the supply chain constraints in the March quarter are likely to be less than what the company experienced during the fiscal first quarter, which ended in December. This explains why Wall Street expects Apple to deliver $94 billion in fiscal Q2 revenue — a 5% increase over the prior-year period’s record revenue of $89.6 billion.

The year-over-year increase may appear a tad slow at first glance. However, investors shouldn’t forget that the late launch of the iPhone 12 in the first quarter of fiscal 2021 (period ended December 2020) meant the demand for the device had carried forward into Q2 2021 (March 2021). For comparison, the iPhone 13 models have been on sale since the fourth quarter of fiscal 2021, so Apple is facing tougher year-over-year comparisons.

Still, Maestri’s commentary is an indication that the demand for Apple’s products remained strong last quarter. Even analysts are anticipating something similar as the higher end of Apple’s Q2 revenue estimate sits at $100.4 billion, which would translate into double-digit year-over-year growth for the company.

It won’t be surprising to see Apple hit the higher end of Wall Street’s guidance. Morgan Stanley analyst Katy Huberty forecasts a 10% year-over-year increase in iPhone shipments in the second quarter, driven by robust demand for the iPhone 13 lineup. The company had shipped an estimated 60 million iPhones in the year-ago quarter, indicating that it may have shipped around 66 million iPhones this time.

Huberty has also raised her iPhone average selling price (ASP) estimate to $878 from the prior estimate of $848. The increase in Apple’s iPhone ASP can be credited to a more favorable sales mix. According to Huberty, the iPhone 13 accounted for 69% of Apple’s smartphone sales last quarter, with another 16% coming from the iPhone 12 lineup. So 5G devices are estimated to have accounted for 85% of Apple’s iPhone sales last quarter. That should have favorably impacted the company’s top and bottom lines as it is enjoying impressive pricing power in the 5G smartphone era.

Assuming shipments of 66 million units, Huberty’s estimated ASP points toward $58 billion in iPhone revenue for the second quarter, up nearly 21% over the year-ago period’s iPhone revenue of $47.9 billion. As the iPhone is Apple’s largest source of revenue, producing 58% of its top line in the first quarter of fiscal 2022, a solid showing from this product line could help Apple deliver better-than-expected results.

Analysts are expecting the company to report earnings of $1.43 per share, which would be a small jump over the prior-year period’s figure of $1.40 per share. However, a combination of higher volumes and improved pricing should rub off positively on Apple’s bottom line and help it report stronger numbers.

More reasons to be bullish

Beyond the iPhone, Apple’s Mac and services businesses are also expected to aid the company’s growth. Mac shipments are estimated to have hit 7.2 million last quarter, ahead of the analyst estimate of 6 million units. As a result, Apple’s fiscal Q2 Mac revenue could come in at $9.5 billion, according to Huberty, compared to $9.1 billion in the prior-year period.

Meanwhile, the services business is estimated to have clocked nearly $20 billion in revenue last quarter, which would translate into an 18% increase over the year-ago quarter. The increase in Apple’s installed base of customers thanks to the higher sales of its devices and robust user engagement have been tailwinds for the services business, and the trend seems to have continued last quarter.

It is also worth noting that the services business carries a significantly higher gross margin as compared to the products Apple sells. So, impressive growth on the services front should have a positive bearing on the company’s earnings.

There are several reasons to believe Apple is headed for another record quarter. Stronger-than-expected numbers could send the tech stock soaring, which is why investors who are still on the sidelines may want to buy Apple before it becomes expensive. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Apple stock could crush the market this earnings season appeared first on The Motley Fool Australia.

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Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

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If you own Commonwealth Bank of Australia (ASX: CBA) shares you’ll want to know about a key change of leadership coming to the bank’s Board.

Here’s what to expect.

Who is taking over as Board chair?

In an announcement released this morning, CBA reported that Catherine Livingstone will retire from her role as Board chair in August, following the completion of the 2022 financial year statements and accounts.

Livingstone has been chair of the CBA Board since 1 January 2017.

Non-executive director Paul O’Malley will succeed Livingstone as chair, taking up the position on 10 August. O’Malley is currently chair of the CBA Board Remuneration Committee.

Commenting on her tenure, Livingstone said:

I have been honoured to serve as CBA’s chair through a time when the bank has addressed a number of complex challenges and in doing so, rebuilt its reputation as an organisation that seeks to deliver positive outcomes for its customers, people and shareholders.

During the coronavirus pandemic, CBA has demonstrated unequivocally that a strong, stable, well capitalised banking sector is vital to Australia’s economic and social wellbeing.

She said that now was an “appropriate time to hand over to the next chair to lead [CBA’s] ambitious agenda and guide the bank through its next phase”.

O’Malley added:

With the support of the Board, CEO and management team I am absolutely committed to helping CBA build on the strong progress achieved over recent years under Catherine’s leadership and continuing to deliver rewarding outcomes for all our stakeholders…

The bank is playing a leading part in supporting Australia’s economic growth agenda and its transition to both a sustainable and a digital economy… I am looking forward to helping lead this vibrant and important organisation through its next strategic growth phase and delivering outcomes for shareholders, customers and communities.

How have CBA shares been tracking?

CBA has come under pressure alongside the wider market in recent days.

At time of writing, CBA shares are down 1% to $103.79 per share.

Taking a step back, the CBA share price remains up 16% over the past 12 months, well outpacing the 3% gains posted by the S&P/ASX 200 Index (ASX: XJO) during that same period.

The post Own CBA shares? Meet the big bank’s new chair appeared first on The Motley Fool Australia.

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The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It hasn’t been a great year for the Telstra Corporation Ltd (ASX: TLS) share price so far in 2022. Since the start of the year, Telstra shares have gone from $4.22 to the $3.97 they are commanding at the time of writing today (down 0.75% so far). That’s a year-to-date drop of 5.2%, just slightly more than the S&P/ASX 200 Index (ASX: XJO) has given back.

Some investors might be disappointed with this performance. After all, Telstra has been a fairly rewarding investment in recent years. Over 2021, the Telstra share price rose by a very pleasing 40% or so. The company also managed to keep its arguably generous annual dividend of a fully franked 16 cents per share intact over 2020 and 2021. This would have been of great comfort to many investors enduring savage dividend cuts from many other ASX blue-chip shares, over 2020 in particular.

But now the Telstra share price has somewhat stagnated in 2022, many investors might be wondering where the ASX 200 telco is heading next.

Is the Telstra share price a buy or a sell today?

Well, one broker who reckons the future is bright for Telstra shares is Morgans. As my Fool colleague covered last week, Morgans has recently rated Telstra as an “add” with a 12-month share price target of $4.56. If that came to pass, it would give Telstra an upside of almost 15% on current pricing. That’s not including any dividend returns either. Speaking of, Morgans is expecting the telco to keep its 16 cents per share annual dividend flowing for the rest of FY2022 and in FY2023.

The broker also likes what it sees in Telstra’s new T25 cost-cutting strategy, which comes after the successful implementation of its predecessor, T22. This, Morgans says, results in a sunny outlook for the company.

So that’s what one ASX broker reckons Telstra shares have in store.

Earlier this month we also heard from another ASX broker in Morgan Stanley. As we covered at the time, Morgan Stanley also slapped a buy rating on Telstra shares, replete with a 12-month share price target of $4.60. That’s even more bullish than Morgans. This broker is pencilling in substantial earnings growth through to FY2025.

Thus, it appears more than one ASX broker thinks Telstra shares are a buy today. It will be interesting to see if their predictions prove accurate.

In the meantime, the current Telstra share price gives this ASX 200 telco a market capitalisation of $46.65 billion, with a dividend yield of 4.02%.

The post Down 5% in 2022, is the Telstra share price a buy today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen owns Telstra Corporation Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Another quarter of growth is putting the Life360 Inc (ASX: 360) share price in the spotlight today.

Moments after the morning bell, shares in the location safety tech company were trading down 18% to $4.40. The negative sentiment follows a dreadful showing by tech shares on the US market overnight, with the Nasdaq Composite Index (NASDAQ: .IXIC) falling 3.95%.

At the time of writing, the Life360 share price is trading at $4.40, down 17.6%. Let’s take a look at the company’s latest earnings.

Life360 share price dives despite growth

Highlights of Life360’s results for the quarter ending 31 March 2022 include:

• Consolidated revenue up 129% from the corresponding quarter to US$52.7 million
• Underlying revenue (excluding acquisitions) increased 64% year on year
• Consolidated annualised monthly revenue up 73% year on year to US$166.1 million
• Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) loss of US$12.6 million
• Global monthly active users reached 38.3 million, up 36% year on year
• Cash at the end of the quarter of US$98.2 million, down from US$231.3 million at the end of December

What else happened during the quarter?

While the headline metrics appear positive for the Life360 business, it doesn’t seem to be enough for the share price today.

Notably, the broader market continues to rotate away from tech plays that are currently unprofitable. For Life360, the cash has continued to flow outwards in the March-ending quarter.

Specifically, the company landed more than US$50 million in receipts from customers. However, most of this was consumed by staff, administration, and marketing costs. When it came to the net line, Life360 recorded US$37.8 million in net cash used in its operating activities.

Additionally, the Tile acquisition removed a further US$96.2 million from the company’s piggybank during the quarter. However, Life360 is targeting positive cash flow by late 2023 with the integration of Jiobit and Tile.

What did management say?

Commenting on the quarterly figures, Life360 CEO Chris Hulls said:

Life360 continued its significant business momentum, delivering strong results across key operational metrics in the March 2022 quarter.

We added 71,000 net new subscribers, an increase of more than 160% from the March 2021 quarter. Monthly Active Users (MAU) also showed a significant increase, with an 8% quarter-on-quarter gain to 38.3 million, translating to 36% year-on-year growth.

In regards to the financial side of Life360, Hull stated:

We’ve also adjusted our strategic plan in light of market conditions, and are now targeting cash flow breakeven by Q4 of CY23, with our first full year of cash flow breakeven in CY24. This target will be assisted by the accelerated integration of Jiobit and Tile into Life360 as a single business unit.

What’s next?

Looking ahead, shareholders might have been disappointed by the company’s resumed earnings guidance — propelling the Life360 share price downwards today.

According to the report, underlying EBITDA for CY22 is expected to come in at a loss of between US$32 million to US$38 million. Although, core subscription revenue is slated to grow by 50% or more.

Life360 share price snapshot

The past year has been a volatile ride for those following the Life360 share price. At its peak, shares were fetching $13.94. Now, at $4.40 apiece, the company’s shares are down roughly 25% from a year ago.

This poor performance is mostly in line with the broader technology sector. For example, the S&P/ASX All Technology Index (ASX: XTX) has fallen 21.4% over the past 12 months.

The post Life360 share price tumbles 18% as cash reserves get chewed up appeared first on The Motley Fool Australia.

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Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Life360, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Lithium Energy Ltd (ASX: LEL) share price has been a very strong performer on Wednesday after returning from a trading halt.

In morning trade, the lithium explorer’s shares are up 16% to $1.15.

Why is the Lithium Energy share price surging higher?

Investors have been bidding the Lithium Energy share price higher today after the lithium explorer released a very positive announcement.

According to the release, the company has now received all government approvals for exploration and drilling to commence at its Solaroz Lithium Brine Project in Argentina.

With all eight of Solaroz concessions (totalling 12,000 hectares) now approved, a major exploration programme is underway. This will comprise comprehensive geophysical surveys and a significant drilling programme.

The Solaroz Lithium Brine Project is located in the highly prospective lithium triangle in Argentina. It is in close proximity to operations owned by lithium majors Allkem Ltd (ASX: AKE) and Lithium Americas Corporation.

Management commentary

Lithium Energy’s Executive Chairman, William Johnson, was pleased with the news and believes it to be a significant milestone for the company. He said:

“The receipt of the final set of Government approvals for exploration at Solaroz is a significant milestone and major value catalyst for Lithium Energy. In our view, there is no better address in the world to be exploring for lithium than the prolific lithium triangle, and our ground is directly adjacent to or principally surrounded by two of the largest lithium discoveries globally owned by Allkem and Lithium Americas.

Furthermore, Allkem’s recent (April 2022) upgrade to their Olaroz Resource in concessions adjacent or nearby to those held by Lithium Energy has provided further support for the Company’s conceptual Exploration Target for Solaroz.

Exploration activity is already underway and will include geophysical studies and drilling across all of the highly prospective Solaroz concessions, with the objective of establishing a maiden JORC Mineral Resource of contained lithium in brine at Solaroz.”

Mr Johnson also highlighted that there has been a lot of mergers and acquisitions (M&A) activity in the region recently. He commented:

“There has been significant M&A activity in the area showing the global interest in the district and lithium brines in particular, and we are very excited to now be in a position to ramp up our exploration efforts at Soloroz.”

The post Here’s why the Lithium Energy share price is shooting 16% higher appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro owns Allkem Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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