Liftoff Mobile reported $220m in second quarter revenue in its first earnings release since going public in June.
That means revenue is up 35% year-on-year (YoY) and 7% sequentially – the company’s eleventh consecutive quarter of revenue growth.
Core advertising revenue, which accounts for nearly all of Liftoff’s business, came in at $219m, up 36% year-on-year. Adjusted EBITDA reached $132m, a 60% margin – up from 53% a year earlier – as revenue grew faster than costs.
The company posted a GAAP net loss of $4m for the quarter, which it attributed to $45m in non-cash charges tied to its IPO and other capital markets activity. Free cash flow was $50m for the quarter and $184.5m on a trailing 12-month basis, up 142% YoY.
CEO Jeremy Bondy credited the company’s Cortex machine learning platform for the quarter’s performance, saying that “better advertising performance gives customers reason to increase their spend with us.”
Liftoff closed its IPO on June 5, raising $472.4m. It used part of the proceeds to pay down $418.4m of debt, leaving long-term debt at $1.39bn and cash and equivalents at $305.4m as of June 30.
For the third quarter, Liftoff guided to revenue of $217m–$222m and Adjusted EBITDA of $124m–$128m, with full-year guidance of $870m–$880m revenue and $510m–$518m Adjusted EBITDA, implying a roughly 59% margin.
Shares fell 3.7% after hours following the release.
Liftoff posted a net loss of $23.1m and revenue of $685.7m in 2025, compared with a net loss of $48.2m and revenue of $519.3m, a year earlier.
