Liftoff Mobile (LFTO) Registration Filing summary

Company overview and business model

• Operates an AI-powered platform for mobile app growth, integrating both DSP and SSP to serve advertisers and publishers across all app verticals.

• Platform connects to 1.4B daily active users via 140,000+ integrated apps as of Q4 2025.

• Revenue model is transaction-based, retaining a portion of media spend as revenue; focus is on performance marketing and ad monetization.

• Cortex, a proprietary neural network, underpins prediction and optimization, driving continuous improvement and compounding growth.

• Adapters extend platform capabilities to address 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: $488.5M, up 43% YoY.

• Net loss for the nine months ended September 30, 2025: $25.6M (net loss margin: -5%); Adjusted EBITDA: $263.3M (margin: 54%).

• 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; 362 customers contributed over $100K in LTM Core Advertising revenue.

• Cash and cash equivalents as of September 30, 2025: $103.5M; long-term debt: $1.8B; Series A redeemable convertible preferred stock: $414.6M.

Use of proceeds and capital allocation

• Net proceeds from the IPO will be used to repay outstanding indebtedness under the New Term Loan Facility and for general corporate purposes.

• No proceeds from shares sold by selling stockholders; offering expenses (excluding underwriting discounts) estimated at $[amount].

• Dividend policy: no current plans to pay dividends; future dividends subject to board discretion and debt covenants.