$LFTO

Liftoff Mobile, Inc.

CIK:0001850351|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 219,505	$ 162,084	$ 425,147	$ 312,053
Costs and operating expenses:
Cost of revenue, excluding depreciation and amortization	29,033	25,455	57,018	48,963
General and administrative	34,991	58,391	59,834	79,113
Research and development	34,513	36,925	61,887	57,849
Sales and marketing	20,594	16,149	38,329	30,411
Depreciation and amortization	22,963	25,120	44,731	50,672
Total costs and operating expenses	142,094	162,040	261,799	267,008
Income from operations	77,411	44	163,348	45,045
Other income (expense):
Interest expense, net	(33,339)	(30,038)	(68,314)	(59,642)
Loss on debt extinguishment	(7,366)	0	(7,366)	0
Post-conversion earnout share liability revaluation	139	0	2,675	0
Contingent consideration revaluation	(17,529)	3,300	(12,629)	(5,100)
Other (expense) income, net	(86)	(1,137)	(198)	(992)
Income (loss) before income taxes	19,230	(27,831)	77,516	(20,689)
Income tax (expense) benefit	(23,461)	4,048	(32,416)	774
Net income (loss)	$ (4,231)	$ (23,783)	$ 45,100	$ (19,915)
Net income (loss) per share:
Basic (in usd per share)	$ (0.03)	$ (0.16)	$ 0.30	$ (0.14)
Diluted (in usd per share)	$ (0.03)	$ (0.16)	$ 0.27	$ (0.14)
Weighted average common shares used to compute net income (loss) per share attributable to common stockholders:
Basic (in shares)	137,076,788	145,269,540	130,121,241	145,309,595
Diluted (in shares)	137,076,788	145,269,540	143,533,326	145,309,595

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ 45,100	$ (19,915)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	44,731	50,672
Amortization of debt issuance costs	2,198	3,219
Provision for credit losses	1,995	1,542
Stock-based compensation expense	26,634	4,022
Non-cash lease expense	2,489	2,459
Deferred income tax	13,022	(6,007)
Loss on debt extinguishment	7,366	0
Contingent consideration revaluation	12,629	5,100
Post-conversion earnout share liability revaluation	(2,675)	0
Change in operating assets and liabilities:
Accounts receivable	(12,780)	(63,806)
Income tax receivable	618	132
Prepaid expenses and other current assets	3,522	(11,205)
Other assets	(2,889)	(1,501)
Accounts payable	(8,006)	79,681
Accrued liabilities	20,488	28,401
Other current liabilities	1,430	1,173
Other long-term liabilities	(4,395)	3,930
Net cash provided by operating activities	151,477	77,897
Cash flows from investing activities:
Purchase and capitalization of property, equipment and software	(27,247)	(24,901)
Net cash used in investing activities	(27,247)	(24,901)
Cash flows from financing activities:
Proceeds from the exercise of stock options	2,255	1,237
Proceeds from issuance of preferred stock	0	409,545
Proceeds from post-conversion earnout share liability	0	5,393
Proceeds from initial public offering, net of underwriting discounts and commissions	472,397	0
Repurchase of common stock	0	(383,389)
Payment of debt principal	(418,438)	(7,563)
Payment of deferred offering costs	(8,359)	0
Net cash provided by financing activities	47,855	25,223
Effect of exchange rate on cash, cash equivalents, and restricted cash	7	663
Net increase in cash, cash equivalents, and restricted cash	172,092	78,882
Cash, cash equivalents, and restricted cash, beginning of period	134,095	99,088
Cash, cash equivalents, and restricted cash, end of period	306,187	177,970
Components of cash, cash equivalents, and restricted cash
Cash and cash equivalents	305,398	177,181
Restricted cash	789	789
Total cash, cash equivalents, and restricted cash	306,187	177,970
Supplemental disclosures of cash flow information:
Cash paid for income taxes, net of income tax refunds received	8,324	5,882
Cash paid for interest	71,006	65,318
Cash paid for amounts included in the measurement of operating lease liabilities	3,088	2,389
Supplemental disclosures of noncash investing and financing activities:
Conversion of Series A Redeemable Convertible Preferred Stock to common stock upon initial public offering	414,607	0
Right-of-use assets obtained in exchange for operating lease liabilities, net of modifications	568	8,341
Amounts related to issuance of preferred stock and repurchase of common stock and vested stock-based compensation awards, received and paid through escrow	0	5,062
Unpaid deferred offering costs	7,969	0
Unpaid property and equipment included in accounts payable	47	459
Unpaid repurchase of vested options and SARs	$ 0	$ 20,897

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 305,398	$ 133,306
Accounts receivable, net	366,112	355,277
Income tax receivable	995	1,651
Prepaid expenses and other current assets	20,498	26,891
Total current assets	693,003	517,125
Restricted cash	789	789
Property, equipment, and software, net	128,984	115,968
Intangible assets, net	153,313	178,677
Goodwill	1,056,302	1,057,180
Other assets	33,571	31,590
Total assets	2,065,962	1,901,329
Current liabilities:
Accounts payable	355,096	356,519
Accrued liabilities	99,294	77,216
Current portion of long-term debt	18,550	18,550
Other current liabilities	30,274	29,169
Total current liabilities	503,214	481,454
Deferred tax liability	40,813	29,009
Long-term debt, net	1,392,149	1,801,150
Other liabilities	135,320	126,597
Total liabilities	2,071,496	2,438,210
Commitments and contingencies (Note 8)
Redeemable convertible preferred stock:
Series A redeemable convertible preferred stock ($0.0001 par value – 1,000,000 shares authorized, and 425,000 shares issued and outstanding at March 31, 2026 and December 31, 2025) Liquidation preference of $425,000 as of March 31, 2026 and December 31, 2025.	0	414,607
Stockholders’ equity (deficit):
Preferred stock ($0.0001 par value - 700,000,000 shares authorized, no shares issued and outstanding)	0	0
Common Stock ($0.0001 par value 7,000,000,000 shares authorized; 21,850,000 shares issued and outstanding as of June 30, 2026 and December 31, 2025)	17	12
Additional paid-in capital	906,720	5,867
Accumulated other comprehensive loss	(1,400)	(1,396)
Accumulated deficit	(910,871)	(955,971)
Total stockholders’ equity (deficit)	(5,534)	(951,488)
Total liabilities, redeemable convertible preferred stock, and stockholders’ equity (deficit)	$ 2,065,962	$ 1,901,329