Liftoff Mobile (LFTO) Registration Filing summary

Company overview and business model

• Operates an AI-powered platform for mobile app growth, integrating demand-side (DSP) and supply-side (SSP) solutions for user acquisition and ad monetization across all app verticals.

• Platform connects to 1.4B daily active users via 140,000+ integrated apps as of Q4 2025, serving 871 demand-side customers.

• Core technology, Cortex, is a neural network model enabling rapid, data-driven optimization and continuous improvement, replacing legacy linear models.

• Business model is transaction-based, retaining a portion of media spend as revenue, with a focus on compounding growth through customer alignment and data flywheel effects.

• Differentiated by modular Adapters that extend platform capabilities for vertical-specific needs, driving incremental spend and customer retention.

Financial performance and metrics

• Revenue for the nine months ended September 30, 2025: $491.6M, up 30% YoY; Core Advertising revenue: $488.5M, up 43% YoY.

• Net loss for the nine months ended September 30, 2025: $25.6M (net loss margin of -5%), improved from $7.4M loss in prior year.

• Adjusted EBITDA for the nine months ended September 30, 2025: $263.3M (54% margin), up 49% YoY.

• For FY 2024: Revenue $519.3M (+10% YoY), Core Advertising revenue $483.4M (+30% YoY), net loss $48.2M, Adjusted EBITDA $256.1M (49% margin).

• LTM Core Advertising Net Dollar Retention: 124% as of September 30, 2025, indicating strong customer expansion and retention.

Use of proceeds and capital allocation

• IPO proceeds will be used primarily to repay outstanding indebtedness under the New Term Loan Facility, with the remainder for general corporate purposes and offering expenses.

• No proceeds from shares sold by selling stockholders; company will not pay dividends post-IPO, with future dividends at board discretion.