Liftoff Mobile (LFTO) investor relations material

Executive summary

• Q3 revenue was $237.5M, up 32% YoY, and Adjusted EBITDA was $144.9M; both exceeded the high end of guidance. This marked 12 consecutive quarters of revenue growth.

• Growth reflected strength across app categories, customer investment and Cortex improvements; more than half of advertiser revenue came from non-gaming advertisers.

• Adjusted EBITDA margin reached 61%, up 5 percentage points YoY, with operating leverage cited as the primary driver.

Financial highlights

• Revenue was $237.5M, up 32% YoY and 8% QoQ; Core Advertising Revenue was $237M, up 33% YoY.

• Net income was $86.7M, versus a $5.7M loss YoY; diluted EPS was $0.47, versus a $0.05 loss per share.

• Q3 Adjusted EBITDA was $144.9M, versus $100.3M in Q3'25 and $132.3M in Q2'26.

• Quarterly free cash flow was $93M, versus $28M YoY; trailing-12-month free cash flow was $249.3M, up 158%.

• 9M revenue was $662.7M versus $491.6M, and 9M net income was $131.8M versus a $25.6M loss.

Outlook and guidance

• Q4'26 revenue guidance is $244M–$249M; Adjusted EBITDA is $150M–$154M, with a 61%–62% margin.

• FY2026 revenue guidance is $907M–$912M; Adjusted EBITDA is $547M–$551M, with a 60% margin.

• Q4 outlook anticipates contributions from product improvements and app-economy demand; management expects continued compounding growth and margin expansion.

• Q4 guidance excludes potential benefits from future discrete Cortex advances whose timing and impact cannot be reliably forecast; forward-looking EBITDA guidance has no GAAP reconciliation due to uncertainty in reconciling items.