Top 2 ASX Tech stocks Withstanding Market Volatility

Team Veye | 06-May-2025

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Life360 (ASX: 360)

Life360 ended 2024 on a strong footing with highlighting significant advancements in its financial outcomes and user expansion. The company known for its family oriented location and safety solutions reported a 22% increase in annual revenue totalling $371.5 million. This growth was largely fuelled by a rise in paying subscribers and the on-going expansion of its subscription based services. Monthly active users reached 79.6 million a 30% jump from the previous year while international markets stood out with a 46% rise in users and a 33% increase in Paying Circles.

The company’s financial health remains solid with adjusted EBITDA hitting $45.5 million and a year-end cash reserve of $160.5 million. Key milestones for the year included launching an in-app advertising platform, rolling out new tile tracking products and forming a strategic partnership with Uber to offer personalized ride suggestions. The acquisition of Fantix’s AI driven ad tech unit is also expected to enhance monetization through smarter targeting. Life360 plans to tap into new areas such as pet and elder tracking. It aims to grow its user base to 150 million and push revenue past $1 billion. Some features like crash detection which triggered over 46,000 ambulance dispatches in 2024 continue to underscore the company’s commitment to real world family safety.

Codan Limited (ASX: CDA)

Codan Limited achieved impressive results in the first half of FY25 demonstrating strong financial growth and operational strength. The company recorded a 21% increase in net profit after tax reaching $46.1 million while overall revenue rose to $305.6 million up 15% from the prior corresponding period. This growth was primarily driven by the communications division which achieved a 22% boost in revenue totalling $187 million. Minelab, Codan’s metal detection segment posted a 5% rise in revenue largely attributed to strong sales momentum in the West African region. The communications segment was a clear highlight with profit growth of 31% and margin improvement to 27%. CDA’s acquisition of Kagwerks further strengthened its footprint in U.S. defence communications which was supported by a $16 million order backlog.

The company continued investing in innovation allocating $31.3 million around 10% of revenue towards research and development with a focus on future technologies within the communications business. Codan expects full year revenue in communications to grow beyond 15% bolstered by organic momentum and recent acquisitions. By continually investing in next-generation technologies and broadening its market presence, Codan is strategically placed for long term and sustainable growth.

(Source: Company Announcements)

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