Liftoff Mobile (LFTO) Registration Filing summary

Company overview and business model

• Operates an AI-powered platform unifying DSP and SSP to drive user acquisition and ad monetization across all app economy verticals.

• Cortex, a proprietary neural network, underpins predictive targeting and optimization, processing 21x more data than prior models.

• Platform integrated into over 140,000 apps, reaching 1.4 billion daily active users as of Q4 2025.

• Revenue model is transaction-based, retaining a portion of media spend as revenue; diversified across gaming and non-gaming verticals.

• Adapters extend platform capabilities for vertical-specific needs, supporting customer expansion and spend.

Financial performance and metrics

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

• Net loss for the nine months ended September 30, 2025: $25.6M (net loss margin -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), net loss $48.2M, Adjusted EBITDA $256.1M (49% margin).

• Core Advertising revenue represented over 99% of total revenue for the nine months ended September 30, 2025.

• LTM Core Advertising Net Dollar Retention: 124% as of September 30, 2025.

• Cash and cash equivalents as of September 30, 2025: $103.5M; long-term debt: $1.8B.

Use of proceeds and capital allocation

• Estimated net proceeds of $672.1M (at $28.00/share IPO price midpoint).

• $526.4M of proceeds to repay outstanding indebtedness under the New Term Loan Facility; remainder for general corporate purposes.

• No proceeds from shares sold by selling stockholders.