Life360 made $US143.1 million ($197 million) in revenue in the three months to March 31, up 38 per cent from a year ago, and ended the quarter with 97.8 million active users, up 17 per cent.
"Overall, it's a really strong start to the year," chief executive Lauren Antonoff told AAP on Tuesday.
"We had record subscriber growth, and that took us to three million paying circles," she said, referring to family members in its paid subscriber groups.
The company's smartphone app allows family members to easily share their current location with one another, while its paid plans offer premium services such as driving safety reports for parents of teenage motorists.
Life360 on Tuesday also released revenue from its fledgling ad business independently for the first time, announcing it made almost $US20 million ($27.7 million) in revenue by serving location-based advertisements to its users.
"And seasonally, Q1 is a lower-performing season for the ad business," Ms Antonoff said. "So that'll scale."
While Life360's monthly active users reached a record, it was below the company's expectations for 20 per cent growth, which it blamed on technical issues that had impeded users with low-end Android devices from successfully registering.
"It was a little hard to see, frankly, because of the momentum in the business," Ms Antonoff said.
"It took us a little bit of time to understand what was going on."
The problems, which related to an anti-fraud filter mistakenly blocking legitimate traffic, have since been resolved and Life360 has put in place better monitoring to ensure the issue doesn't happen again, she said.
Life360's pet tracking service, which it launched in October, has been performing ahead of expectations, with the company selling through its US inventory of GPS-enabled devices that affix to an animal's collar faster than it could restock them.
Manufacturing has now been moved to a new location and Life360 has been trying to build up inventory ahead of a relaunch in the northern hemisphere's summer season.
Life360 now has six million active pet profiles, with 120,000 new ones created each week, and the company's pet finder network has reunited hundreds of pets with their owners, the company said.
RBC Capital Markets analyst Wei-Weng Chen said Tuesday's update was a mixed but mostly positive report from Life360, with better-than-expected revenue but downgraded expectations for full-year user growth given the technical issues.
Around midday Life360 shares were changing hands at $17.80, down 11.5 per cent from Monday's close.
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