AppLovin (APP) 17 Feb 222021 Q4 Earnings call transcript

Greetings. Welcome to AppLovin Corp.’s Fourth Quarter and Full Year 2021 Earning Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded. the and to Strategic turn of Gee, now Relations Investor Finance will conference Ryan over Head I for AppLovin. you. Thank

begin. may You

Thank XXst, everyone the welcome you, earnings Sherry for call to quarter XXXX. AppLovin’s December ended and

at Joining performance Financial CEO and Chairperson, Co-Founder, are; letter investors.applovin.com. and release Chen. Herald our to are Please me and and SEC Adam discussing Chief and filings, discuss earnings today President results our our our available Officer, Foroughi; XXXX note, XQ our shareholder

we company. call, forward-looking factors assumptions regarding are today’s assume making During may financial well statements we from clarification. on Form may Actual future materially be future no the in performance results as based update obligation and differ most and risk events These them. and beliefs, those XX-Q of our to recently further the statements elsewhere filed for here SEC filings today. in as predicted results our Please the review

not GAAP superior and This are I’ll turn be measures. be measures non-GAAP website With also be IR GAAP shortly. release, letter, will We Adam. our replay as our our sure for conference earnings filed Please to it XX-Q to reconciliations, included XX-K our be or that, available now of to discussing the will substitute financial to those review call press shareholder shortly. a and a non-GAAP is financial intended over recorded results. our measures being on are our be in to Reconciliations to our non-GAAP

can revenue confidently reasons in to want to revenue our XXXX. fourth grow quarter more I’m us potential heading we outlook pleased you joining report we today. approximately excited I software believe record and our and Software is even thank beyond. XXXX our Ryan two why billion $X Software XXXX. Thanks, And results. business why in in for and I’m we all by where for financial highlight raised to

than Software solution exiting business versus fathom year. our to very solid robust nearly consider businesses ROI all and the clients’ one why as we to delivers Software last have our growth times and goals. First, XXXX. grow Platform foundation our X that our quarter provides to we clients, beyond. today that industry And It’s other ramping, had That which all than of compounding significantly growth a was sequential consecutive to using Also AXON grew their of marked for hard peers. still clients third last our Salesforce of is organic many just in fourth AppDiscovery quarter net XXX% perform our is the and continues well over XX% for quarter. rate revenue double-digit a against Platform ‘XX quarter-over-quarter. retention XXXX our higher growth existing for revenue This and turned dollar-based and persistent larger old consistently year

Second, seen MoPub and announced the The demand MAX the integration features, publishers largest is with over we amazing progress today MoPub integrating over number the of of of MoPub. monetizing We’ve and since with The XX% before. revenue, access deal, up for offering. apps they XX% partners. have didn’t demand to many but of vast AppLovin unified our Exchange to integrating DSPs enable MAX bidders MoPub’s and MAX. majority actively are work will to publishers direct generated publishers the new partners These

market. big built, such expand team, addition very initiatives of marketing we’ve the of in on blockchain have we’re to carriers, big long-term. over beyond. business. unified one fast-growing outlook. to and these and ‘XX me fast-growing a for our the revenue opportunity deliver come as our business be partnerships these compelling to in sharing we which turn meaningfully believe any through to marketing a platform, as online they for current As forward and building CTV We We OEMs and current mobile executing color and content, as categories provide look will success successfully let can markets, others growth expect proud the our develop. be against technologies to need on progress to our for and in it enabling that, business because to to initiatives, mobile and operate Herald all performance MoPub, already over also and We twice and be our into future. a building in be opportunities, of numbers These as NFTs products With solutions products our catalysts can that I’m years executing over similarities they these on in the

Thanks, Adam and to thanks us. join to time everyone for taking the

equity build and to first-party metrics we Adam our future company both markets grew tech I a financial for acquisitions positions growth. ramp apps, letter, do outstanding our and QX and well results, an for for not and XX% we only XXXX, grew more outlook financial XXX%, debt and to XXXX. EBITDA solid had laid public earnings release our noted, and markets, shareholder AXON importantly, XXXX, In in well great XXXX. had revenue strategic Software and our in content, Board. of and for we’re Team our Instead ‘XX Global adjusted mass and This our more our out very want operating As in able and which build access Learning highlight targets private our are complete out than reading fully critical QX platform, to than Machine

business plan XXXX. software we at grow for scaled First, over XXX% our to

XXX% we gave our We’re revenue $X billion year-over-year range, XXXX midpoint billion growth. you earlier dollar is Platform $X.X This revision over projecting Software sizable target at from for just upward at a in XXXX. representing the of

being our fully we is MoPub it integrated robust MAX. to into XXXX. won’t solid well platform. Adam stems from integrating XXXX mentioned one, strong be And and results, going QX in setting standalone, the as from benefits continued finish for record ‘XX outlook two, the MoPub’s on for growth our Our MAX into outlook growth up already, since Well reporting progress forward, organic us

the I’ll the call by come out the second. over for long-term, to strategically continue migration fees our which We to software ‘XX approximately a publishers evidenced on do expect the guidance be believe highly should the and for company and MAX ‘XX near-term in pay as investment to accretive in acquisition MoPub to we mostly impactful and in to that a coming first to million want quarter. $XXX I platform, in our

a the related adding in fees ‘XX all not to-date substantial EBITDA. made as back costs MoPub given many plan and mentioned. Post add we’re be that reach Given the – we the progress these to part see to our would back amount our acquisition, those we of portion MoPub working transaction, to revenue the ordinary ahead, billion to XXXX Adam to opportunities regard $X for of Software, With in we Software the the course. we outlook adjusted hard

XXXX our four side, for On midpoint business $X.X billion – amazing in It our multibillion a years with – now of at of the have ago set had an outlook is to globe. is revenue developers around range. and the we Apps and just dollar say the Apps negligible studios awesome

data. mass critical While we drive reached first-party to

continuing from and with modest new at over our our The the first-party several to need apps $X.X billion The for new next quarters. first-party potential release are Machine to data content, outlook substantial engine, revenue make content. in are evergreen assumes we Learning midpoint investments new we planning of

the new that to our title, To content acquisition apps difficulty last meaningful half the Note, a ramp of in year. performance. Given inherent we over Makeover in user project hit impact and with drive do would we more our the we projecting have new second having ‘XX. if as did revenue new Project

As rather and on adjusted XXs range over free invest I in for are focused XX%. to EBITDA compounding long-term, are EBITDA near-term than cash it up ‘XX, flow value Adam we’re targeting XX% percent our profitability. for from at the the we Well, relates long-term and the an will creation margins high

I Adam, and be like that importantly, deliver working to you to thank AppLovin in team ‘XX support for for Lastly you all to and happy are in questions. your XXXX hard beyond. your know please you. With we’d would that, and our and take of and Thank we Ryan

[Operator proceed. Suisse. question you. first Credit Ju Please with Stephen Our Thank is Instructions] from

Okay, thank you so much.

$XXX the And fourth there quarter. million looks of of it like the for on just thereabouts for So $X or costs follow-up a XXXX. Herald, couple about was migration million

point, know you can what guess changing So, your platforms you I discuss mediation are actually pretty rare. to entails? this And expense

Thanks. might Google Android? how talk sort did about on you So, was things Or the you of changes about the the can So on seen privacy-driven terms the Adam, bolts and hood about, for in you be talk what’s underneath you be nuts know latest Apple same? actually iOS? of versus you’ve what undoubtedly migration? that And different going how of can things the might talking know

Stephen, Hey, for the thanks question.

and inherently integrated in people fees is historically been all know mediation a space, we’ve said And it these in not there’s volatility wants You run to stay historically, platform past. the very, as the we were paid there, little applications very because sticky. the to

from get this For publishers being service bit can need they shut there’s to actually a just migrate. they the of given to lot the a down at needed end and the as there’s end a – And acquisition MoPub quite quarter, of MoPub move of of of to done. – lose cost the revenue migration potentially standpoint where to which to speed cost a with them, And revenue, quickly.

to cover those negotiate we fees And so these costs. one-time

Google’s announced plan changes a Adam. on and with attribution. is, that privacy it’s the exactly environment the Stephen major Google there’s Hey, these works we in your around the ensure will couple sector for all things with disruption changes, One question consumer. pairs targeting performance the know And and there. advertising, to direction is the a better not privacy then, of companies take, second On of don’t multiyear that

saw while So grow really it’s said, Software dealt to IDFA obviously the just coming market side considerably quickly take in in going XXXX. business to And develop. our we changes you on ‘XX. a with quite That the to

being the about the Apple changes, our privacy into we change on muted talked Going for business.

saw quarter-over-quarter QX same You QX, XX% growing in QX. the saw you in and trend us

benefit learning of growing our the is quickly. actually And our changes from So achieved all first-party data own a do data our accessed these quite our and us, in because machine business drives game. that is way core

we’re sort the regulatory – the changes perform, regardless changes, well of any believe of up of privacy ecosystem. we So, set very to

Thank you.

Morgan. next is with proceed. David Our question from JP Karnovsky Please

for MoPub, initially. And changed margins which all? is at can expectation some of walk your Software in midpoint. you you higher the Adam Software or that for Your XXXX? I maybe – Hi, expense has know $XXX through know trying your growth to has incremental on has business you, in just of I guide think if embedded what’s expense outlook Herald, understand a underlying growth the But at thank million

David, Thanks it’s the for question, Herald.

margin size lot of of structure incremental, the flow this you And high, And to So, MoPub be you DSPs new a is up bringing and do of of with migrated scaling the a yeah million as we’re and about keep we our publishers built acquisition deal having publishers lot know overall that in dollars Software billion we accretive very through and we as is we’re as good think side new of on doubling do us, we’re dollars the for highly you is to more Software there infrastructure mentioned paid with couple the think that. you on sure. strategic a and note, know simultaneously. for to we feel business, get know

high bigger XXs year, the our I it. for EBITDA for a at just maybe taking think picture guide In the margin. look

be to our As the growth and investments. want scale grow long-term that ability requires we mentioned, you for the over at we continue think the to business to know investing business in

EBITDA quite to investing are that we we – what our think we’re in well. trying a are some number, studios new as include So bit we’re into projects

to acquired of into I they’ve to last think know investment got we the that that you content deliver end a the back studios year, we’re you ensure the studios at scaling on – the right end. of resources number those

to invest to in but overall given there’s can we like opportunities we invest certainly different and many you margin, their – both flow direction in of both of through we’d where for on terms business Apps, Software drive So so know, the in them. us a

OEM prepared Okay. And for or Adam solutions some then mentioned like remarks – in blockchain. areas you for your investment, marketing

if you XXXX? that specific Just on you expand details are are against know these And know, there to any in? you why if right are opportunities can invest there the costs this, wondering could in provide investment you –

Yeah.

so of at current and that success look that we incremental do to technology we when opportunities our terms something. that So likelihood them audience data, platform, to new, invest have, in we But higher we anything what are. do we we be of in that’s want do have the to both if related expertise a

in enable I solutions natural have mentioned, the generate our three to generate a help to currently solutions the that’s and Software and and their blockchain of machine marketing are extension learning them more solutions than OEM device XXX got space, we monetize And network, from we’ve across mobile our to is incremental so, really from month. they accessed there audience our gamers. the carrier games and sales areas marketplace single And The NFT every Platform. of they ways something playing available, just X of them manufacturers million billion demand then

to devices is extending that content, performance finally, makes enable is our then models for expand we’re to monetization for video the so do think because beneficial connected today, serving we we And digital penetration with on our a space, new access and and so like there. all of of similar it point our invest developers TV to helping to to parts the And the very – platform. full-screen of of mobile immersive there solutions what natural and TV mobile our ecosystem, sense extension feels fast-growing their advertisements opportunity a business,

why that these to it of business frankly, and hit them always All our given that’s market them and the are so investing if are and – on dramatically new growth we’ve for there. is covered opportunities any if what related But years widens we’re a we of and terms in opportunity to any in of guidance that these expands of you hard. come, do, and hit hitting costs,

Thank you.

next question Tim Please Macquarie. Our proceed. with from is Nollen

Software everyone. could. I the to growth the Hi, Thanks ask kind components I’d very much. if like about Platform of of the

AXON So had to contributor of very, a lapped to – really and you you know, from you rolling on and year the you which service ago, the building especially strong be up now QX mentioned, you’ve know very QX kind you know to very, that to growth, as starting a against. in

that’s super like on would – versus AXON So possible to growth versus QX an ahead AXON to you those high the just rates ‘XX it rate an looking of can elements? an to give not versus figure that, surprising us to MoPub what what that from that do? possible organic in slowed was QX, in QX. I’m if has wondering related if and idea And the other an there, big number nice contribution is guidance, then us be update other any any give Thanks. any

Tim. Hey,

we that the of the January. is only we’re more Software platform, organic, the prior years’ quarter our are want yet part handle the you performance side, what – they though of more sees is they part, material AXON, had and a do with first more in second? single you that’s dollars part, the into business you up. investing builds can – seeing And numbers very saw are a in On we was and advertisers of lapped the saw is it. before want first MoPub are growth. anyone huge higher on data is numbers industry and strong, as to validate the that, using because from and the who quarter-over-quarter using solution why much on really continue And improve on results machine want accurate the Software than the jump our do in QX, I’ll the anything pretty closing kept every more up quarter more these they we systems dollars that even all acquisition we SPEC time, and So, each to scale Obviously, more Herald, quarter. over benefit first are to get announced and in expect And per And that we’d getting AXON as the on more AXON become they learning maturing, XX% growth behalf and the customers see is get data much of bigger quarter-over-quarter – are step to adjust in it. in – because the

integrating obviously demand had it access to as well. presents is marketing going and January, to of access access be MoPub solution, demand as completely our large was. continued Going – we’re were on twice to And audience. over But unified and And those opportunity for partners, our them through to advertisers audience into more give rolled expansion going as into offering, platform, last into them expansion, then coming And a strong very we’re direct to to big MoPub access then going a which an gain forward, to was the is of MAX MAX. year, take MoPub now be a MoPub solution year. the MoPub to it to DSPs our doing that – for buying as of the very

present XX% revenue access possibly think years we’ve – about all our optimistic an are that we that’s plus, the little of So mentioned, as the opportunity to going so seen we’re churn, to create to acquisition, because publishers top to growth from platform. over come. point very And migrating for

it the hand second to Herald I’ll for part. off Now,

Yeah, doing think with growing for you the you also lot a Rolling pretty we ‘XX there know we at well I know Adjust which good was big rate right XX% business the and the that’s quarter-over-quarter – business that increase, have that AXON, AppDiscovery a then, we drivers know That’s continue mentioned have a move. into great ‘XX Tim, from you hoped. a we’d to SaaS Adam of organic, rates improve you underlying and QX, is know to growth you know QX all look, have organic foundational right.

and impact to know migrate exactly confident takes then frankly be would of it of we MAX we gave MoPub the note give that because guidance of get the before, to know demand you from on another, to year. out. I of migrate. out number and probably parse to you that, run you know mid did, We to to revenue that important a time that lays by in then that. the upside there’s still previously, platform – migrate, One way in publishers to one, mediation the difficult the mentioned to XXXs that rate how the side and the as the did ramp, we end MoPub very it’s know get mentioned, As and one was, to remain

million] And process in the the that therefore, terms of you than as going of now that revenue it actual so know, the know year, in be [$XXX but you impact we’re less through booked we’re the more will well. that we a feel as $XXX of very know the was [ph], run When well the you announced about it’s million rate that it, into now number deal target. we good

of got year to the around growth the should we’ve to at that trying you allow this you $X.X I number impact billion in us to know you you can see where the target then then, fact end putting our small just in these a is overall us really high terms to what know drive And just ecosystem that $X.X billion. the pretty $X you ‘XX guess over of guide building So know XX next. significant hit led target goes that things for midpoint and is, billion – know the Software of you together. not at know And to range the in of a confidence lot

gave some I the contribution a of us could type us can to if And Is quarter of now? last indication there you give follow-up quickly, Adjust revenues. think just you similar Thanks. number I

million solid at and rate. continue was that. Yeah, just a around – $XXX acquired when do We’ll it growing double-digit it’s to and we

we and know for ‘XX as think ‘XX You well.

Okay, thanks.

is proceed. from Jason Please with Citigroup. question next Bazinet Our

Thanks.

Just one question. quick

that M&A – Or now so of been sort done are wonder You existing you, portfolio? you it’s investing could into look very other have? in you landscape, assets doing plug it. you have just that as the do feel your I successful most know think much you acquisitions of organically that about there Thanks. interesting more sort and you like you assets of could at this the of guys and do sort behind you

for Hey, Jason question. and the it’s Adam, thanks

ago on strategic every made we us, into and became But obviously because of we that can strategic wanted and it three have accumulate data when on to gaming, the numbers the So, box content focused, years we gaming, single across a you’re we on gaming. Software so today. lot what seeing super obviously, to category got We’ve feed into it that to and for execute of our checked gaming, – fragmented. Platform

a of you’ve material data, business enough that. seen got as And we’ve those. year, proves we’re this enough business its our thing. Software do Software the last exceptional integrating announced we Software and of business the obviously in year, which growth can offering. the we audience think that And and So acquisitions, the strengthened two gaming the And in then current obviously, middle of

So to mind. through I buy shall that’s build say would extend current the acquisitions versus us few on wonder we is new what’s a that initiatives. is in went Then, – that those to years what’s that’ll new build that’s data been market-leading talked top data is, bunch Software on like, is be really at lot whole has ability to our strategic time and one something platform. my us what separately, and so it take a to to for the that platform, forward do organic our of become get audience as decision power now I the we going in categories we strategic we than for intact to some to script. always business But about last those new then different categories, of basis an when to – And think accelerate about to at we look our and our us there quite a for go acquisition what we possible initiatives, look when

on an you. enough side or something X-P but data, from Okay, NFT blockchain maybe so Thank M&A standpoint, the helpful. that’s

Clark BTIG. from proceed. is with Our next Lampen question Please

on guys. the Good I’ve evening. one Software business. got Hi,

for know ‘XX segment But Does may Software those ‘XX. associated past or but portfolio concert incremental outlook? excuse you about affect you know correct this, with of gaming not targets? us or one Adam, asking you you ability want does out Software $XXX that Can you gaming And outlook to with that for performance, know for guess the that achieving another? with the your the you margin growing I your costs within ‘XX continue know beyond. and you just incorrect? that have positive sort I know answered then only on of – whether business As confirm remind just migration it’s years to we’re you in me, thinking how impact separately swing growth is in – question. embedded the MoPub the meaningfully – million margin that high Is XXs or for negative

let first, one. I quick. then think it’s part maybe I answer And part because two, Herald answer I’ll

at we’re – assumed margin. going guidance is of high that substantial part in adjusted the to back that the We’ve add in XXs a to and $XXX therefore excluded million EBITDA,

Yeah.

machine types out really working as the a company the able we’ve this users And and that is you XXX platform. not really well part And Longer-term, we’ve you’re see important are really good helping for first data revenue, growth that monthly we’re active million and to what what these us asking predictive X company, knew today. And we system lookalikes ratio our audience. And and dramatically. last as Software and billion gaming said into the partners On software is, is built on being built across learning really at like, to a solutions whole extend we’re games in got look is then year, over having our that Software data, this of across really going growth. expanded grow. about gaming it’s what repeatedly we the we Software how the

user dollars as core On our going our But growth majority the to which be because Software already acquisition on more number with TSTV is portfolio, we’re to expect our that revenue span, our take really of gaming we game the number, spend platform much power games’ third-parties, the we the because user platform. we converge continue Software is and on able side, relationships reported driver grow expand own Software on data our it to get than to we on the of faster side, to need desire the the to and the from have vast that acquisition third-party platform.

dollars advertisers is direct through us focus third-parties see Software relationships the vast the be it’s the side we’re So, through expand to through or majority paying on to going side, to demand MAX, the of that our relationships revenue, are you’ll platform. inherit to continue that the it’s a basis on MoPub our buying whether the whether going with performance on

it. Got is like of know that you is a guys business there just of sort assortment you vertical that first-party gaming you to there of is there something Adam, I – that sort solid And, sort the know of top solid your a to and comfortable at is know you guess have attack adjacent would of next, I does data feel there a you focus? guess it

that markets. game talked fast expands And they’re data only thing our they’re about year. shopping a that, data? that. lot only if games, we’re our is pays might And more business. Makeover, app, we last growth design someone And first-party playing seen be playing person, non-gaming in food datasets that fashion you that apps, about the the what data, They Makeover, home they’re that in systems And delivery, a you about and Project other et think in over but this than about like the cetera. design if be a we’ve You might not the in with know gaming to it tells week the in collect data they the do the a out we’ve $XX lot they doing not might is the seeing it in Well, can have. what Project is last sector app, we before, nice today, the be figure

continue we excited app be So, going that forward. to other to we’ve seeing is we’re something categories been vertical and expansion with about, about across excited traction

you. Thank

Karasyov Our next Research. with question from Cannonball proceed. is Please Vasily

afternoon. MAX had Thank on I coming the new question all publishers you, a about that and good Board.

auctions. to So option? only one, are that inventory? use why? would fair to monetize or or to do you only up? are how and think question you about And try go I my some that there the have so other – understand some – you seek take you yes forward? appreciate you it mediation Do contraction Do do there the would use that to is you So you publishers be be real-time take then is, And prepared take publishers it their see second rate. number on my and and no, say the it – that there But stable? real-time can the Are bidding do that steer bidding this. going rate the to towards one a if mediation expect thoughts your to question – do you I for

Yeah.

to a XX to that they over that’s to last the floor win truly and So no data – inventory, ecosystem of the should it deserve quicker. to because And couple be bidding a publisher advantage did that’s whatever years. when that dollars traded the we real-time, facilitate we stock – it And there. than with companies marketplace the it’s it fundamentally but of wanted in different make make, MAX, so and real-time, real-time share believe it things we becomes the we enables trading When launched in gone advantage a earns. we – maximizes margins programmatic ad embedded their technology

to get bid device. in on seat the paid today, the is the our pay they the and when there it’s It ad hybrid best mediation, end out with So that real-time plus delivering is we to per the a furthest marketplace, and bidding MAX to marketplace, we solution, bidding consumer MAX, get that ahead mediation. on don’t publisher companies on

time, continue MAX’s improve. economics over So to

from of of past target very to been extra couple of basis. penny can the a about on a you’ve extra on This we’re the about for any revenue business we’re we a is Now, bidding, important Software growth we’re of one Obviously, dollar we talking facilitate understand revenue our marketplace reported $X revenue in billion dollar, specific rate wanted even seen this quarter of And that’s a bidder years, – MAX, the good the at we revenue. about thing are dramatically. we’ve to or in a to we an ads bidder revenue. talk making But on – we make a Software revenue an don’t If expand we’re our the That’s we – take serve. net reporting we’re when net penny ‘XX. Software it.

to the cost taken of exceptionally high it’s advertiser already have margin, publisher dollars that out So been the the passed. the

business. sort take operating, any Software that So on ‘XX. into to not and of going of the ‘XX all of impact really, And afraid growth you, that constriction in growth we’re because rate continued today. we’re confident continued very doesn’t And report to we’re it we’re at what seeing going about

Our Ralph is William Schackart from next question proceed. with Please Blair.

my thanks Hi, taking for question.

guide, – XXXX the it $X.X business in as the the billion revs. to side Apps relates $X.X $X.X On billion, think I of

You the new how broad-based? talked the think And the any us year. apps or about the more business versus contribution or content. on growth a the different revenue consumer could of help contribution Consumer conservatism compare color half might the was second side about it you Apps of relative was know modest rate more in I you from add But so or think

Herald, so do go want to Yeah, – want – do we you ahead, to jump you in?

Apps. apps, going games games was with operate IP Sure. and Consumer to monetize ads. like, as They’re plus or and we I the don’t say Apps just Business they

So serve advertisement this billion then we’re to a though not content as for some like, which was lot said plus well. again, The are a these company. from games games users games within users, – purpose times, of business. a They’re products pay and us will making money in a We’ve $X Fundamentally these hybrid. scale of gotten great. the them to we’ve for our lot business,

in that – growth More of spending importantly, needed. which M&A, the million do of so active games data acquisitions we now strictly monthly driven we inclined are done business, users. in we’re the outside businesses games getting by haven’t on And less drives what and the That’s are data that first-party we acquisition. and mobile XXX gaming user to have and we’re games recently on what the

a fastest-growing bigger to matters billion projected you billion what business, this where about and goes spend scaling to about on in businesses talking TSTV one Software own $X dollar software the year, important, talked a reported coming Well the of is that think that’s next as That this business because we that the XX%, face and than which number, business delta you. you own on we’re Software up Software are our give is dollars couple for raised as us of And is, it talking we we we’re our we just now growth, revenue So our this Software, next planet of $X about and year, today, a is platform. billion lot games year. report to from into year. the today for –

not from As that expansion. to justify to going they that’s third-parties, the all grow, to current we’re because our amount to continues double on don’t just of kind spending dollars going we’re able that that games, be be

And converge on able margins which number room we’re our And so with business. to of gives and we see make the business grow, we’re TSTV necessarily of number. about, part that collecting a third-party dollars games lot focusing is while from the what that Software, care that the not the to us the you’ll

Thanks. Great, that’s helpful.

proceed. from is Please Stifel. with question Pang next David Our

everyone. Thanks, Great.

next of of the changing on with years bidding? over question. follow-up the in about how the one addition about that ad MoPub? talk should bidding you was MAX few little that portion transactions Just what the we Thanks. Could in-app on mix And think

Yeah.

the market MAX So as of we’ve and was we’re ago, point. bidding in couple by into to so bidders another obviously the the in year, marketplace, the past, we the And of expect gotten one years we is the had at And SDKs. when probably think there’s or MAX one bidding, else’s Demand no launched this half DSPs. end a SDK the MoPub of exchanges aspect two Facebook These is, Platforms someone vast such the as market, access first majority more to then demand, to adopters with are They which which networks. header use bidding, to Side exchange-based the platforms it the MoPub, us of traditionally MoPub bidding one that bid ourselves, is, demand. real-time unifying allows Real-time networks audience of, demand companies is side to ad the bid forms. – are One from will takes DSPs of be real-time With bidding real-time. well unified well. access as are auction. as into unified part plug

those unified bringing about, over is through this our as so is to big twice that access MoPub, platform MAX DSPs what MoPub’s on And point live ever massive audience excited plus as MoPub was. drove we’re revenue, the itself

partnerships in so come lot side of that gives as these a demand us online. And growth they to access

Thanks.

next Yang with question Oppenheimer & Martin is from Our Please Company. proceed.

for Hi, my taking question. thank you

extension First natural to Or you apps question the your thinking are the clarify, are yourself on providing recent you about Software Can you is both? or solutions on non-gaming apps? non-gaming initiatives. publishing

for more users obviously for facilitate lastly, handsets for and about engage we sell device current learning it non-gaming, Connected that impactful. solutions, blockchain into is taking platform. we content all consumer carriers I one, NFTs, we the And of data of the to focused the we’re Platform very our then non-gaming talked impactful ability and partnerships When content, we opportunity than to technologies our mobile can about enabling ourselves. our that both with Platform if in we our connected comes on relationships, TV over we ownership and through bigger marketing can very they apps, Software think an monetization which and can partners TV for take and spoke don’t and markets. performance machine – marketing, Software doing manufacturers think to to extension generate help from and the and in demand the these apps, expand demand we’re by our gaming be really is think with world building our

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really gaming. there checking and opportunities So on marketing comment referring your advertising some still is the non-gaming there in-app are apps. – are question But – pretty back box substantial to in on

if you data So do first-party similar apps – yourself something publishers a other not game would non-gaming from publishers? are to game solution orient you obtain to for the that

So there. I got you

it’s through things. companies Project spending still and just platform too of our human you had I as play month the talked apps, a – data being answer fast-growing them. do gave got that they the enable the lot to we’ve machine apps, conceptually And apps, fashion one fashion our so not household know we’ve a doesn’t Makeover $XX now, and game, out business. paid which rideshare Project figure category that part in you about delivery and the hours can spend category, as – before non-gaming the other a just to we design a – know the play of as other they’re learning a in bunch they’ve lot invest market ecommerce things I much you beings, big a think a of that in, XX of on lot a day, got probably food to person know other things money whole things of tend someone no is, you is a know only for If reason $XXX certain, first-party when about for Makeover,

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lot MoPub consumer would these the those them as which give to partnerships through as much of of our a well, of platform from over advertisers access dollars flow unified we qualify twice As we offering, see types into to non-gaming. to the direct and integrate expect as eyeballs, our

after questions, Got XQXX? have if I logistic any it. fees Is you migration there another may. I expect

publishers switching past, way MoPub quarter the to No, really like a our in for is of look had off going fees, – long-term platform big in sort have nominal them the of business offline. in that some just we’ve specifically a may the amount go migration nominal

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it. Got you. Thank

question proceed. Our Matthew Morgan with Please is Stanley. next from Cost

for Maybe Thanks the you, one question. for taking Adam. is first is the everyone. Hi, –

do if times with You’ve in interpreting of I’m and of the can feed it AXON, data you it. this it idea once you couple you into lot place mentioned a – a there’s have basically, correctly, there’s that

of reach have And to of basis keep I what have you want mean understand, data a portfolio – yields And so that in on just a that? guess, with need you you an the million app to do maintain – MAUs scaling need know because your a you update to portfolio all need, by beyond and side certain I XXX audience point it, don’t I mean the then I and do portfolio can do apps you what that, follow-up. you your certain ongoing terms size in that when that does guess you of terms that that an audience you

– why growth because it’s may Yeah, it that’s last grow, business enough Software the business. been not where the matter, it scaled XXX% doesn’t like, talking fueling right. it’s about massive for in grow, games That’s the – we the may we’ve for year

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actual And so data that ratio lookalikes – tell of that you can to XXx works. – the

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business. we’re we’re where So on the of excited this side data at with

And one’s this then you. Great, for thank maybe Herald.

of about thinking the in this year. Just course the like SPECs growth over

in Adjust, think around number, in XQ. guys a not XX little – plus X over sorry, was have XX that million, that think And XX right, XQ specs and XX I about if you I I it added it million XQ. excluding

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a we that pretty fact the the SPEC significant – fourth that’s what quarter. really the of quarter, a was added to that in SPECs that So testing add didn’t was of whatnot, third and in of slower those count. amount and increase. we’re we And the lot due in period actual What – of money as many

for the the MAX very side, it’s who’s things and wanted confident to we Again, didn’t MoPub. distinguish it to all but clear our this. we to be – all SPEC quantity letter, a it, the good So our the kept and to – because that, about from just on hard In with the know customers who’s be highly obviously feel MoPub Software letter highlight want price upfront they a isn’t customer quarter. run One footnote growth, to the in a keep detailed numbers it’ll per is in get point growing to to follow you migrating $XXX,XXX, rate to run we still line you SPEC on very rate of customer, has our know had was One going the customers, definition MAX the in based same. quarter, customer therefore that. were

and more if forward, Going forward. is just focus metric I continue point we’ll But for quarterly and get the much going that’ll go is, that out little given about. – volatility customers going think $XXX,XXX to rate a of that metric you LTM We talking be use of revenue. a number going, bit. run a we’re that inherent SPECs much basis coming better the we’re on that’ll report really reason of the an to rid to have of some scale The of

Great, thank you.

from of question Bank Dessouky America. Omar is with proceed. Please Our next

you affect written? written the any the currently laws business would How your have as direct indirect? being playing you. act role thank And markets app And or Hi, are open strategically?

reading Can into be it? right I’ll on what you’re insight I’m talking what about? specifically little I will give answer the law a now. then you honest, us is up And

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– like could you’re you’re talking the operating Got rule talking systems, what changes benefiting this it. about any about? as make is, the they that App – be seen themselves, and Store And is that actual the tax that other

Yes. Yeah.

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say, a that tomorrow becomes ours. you like if happens, sort becomes and LTV XX% $X.XX if – on of spend so take that and that’s more $X today can it And $X.XX, platform advertisers go

function provide see because those to that you that terms to an new their do they up rule have favor. value. like of that ours acquire – amount companies just would a a step immense of platforms So in in mean economics kinds other in get of competitive are the that willing it immediately go spend users, comes marketplace to the changes, When they dollars

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D.A. question final with Please proceed. Franco is Our from Granda Davidson.

Hi, everyone, this – yeah my thanks questions taking here. for

about progress an you Software following your early on your revenues Just in was on question, up Platform. speak hoping I non-gaming could

look know and like? was now MoPub know ‘XX? non-gaming you’re growth it, closed mix rate what of integrating revenues And not that you in what You does has the then,

a – not more just yet. app say break our a that’s touched that we platform is, brand obviously I famous we these opportunity you mobile customers haven’t through direct really both out as But talked but Salesforce with big importantly ecosystem specifically that the is, non-gaming something we’ve on, big agency area there’s and omni-channel something the access demand, that earlier But on, bringing on end marketer very our more route, one. being DSPs, applications. that’s into getting into to more I’ll that desk here Yes, companies referenced up non-gaming trade dollars

ecosystems we’ve With omni-channel MoPub the shift got we’re going app costs. the the one platform the the side these the optimize in platform, ever in we’re those MAX supply plus this to – agencies direct to consumer. biggest are that place, supply and – seen really this mindset access try And DSPs to mobile through unified

platform able MAX do So publishing us lot dollars Well, of benefit amounts it ecosystem, our think floor. And our of move be will the but into trading they’re a to consumer. going benefit to directly partners, and which facilitate through of at scale to to the as the they now to massive the going non-gaming the that’s into to they go to marketplace integrate our get as direct be through us. we of in also

All within go talent are about company industries? from of Software know I there. you was CTV. help approaching about respective NFTs right. moving Thanks, to the some such about Adam. Are you side to you curious the And that and approach you from the their then opportunities you those as in new Or as it your resources relates strategies? talked

the a has I we’re mean, we’re ago. started business, of been new team actually, core we decade look, when business our for a here we – all look Yeah, at since

a so a it new hit, is with always that if really business can And together few very to And it sticks idea put – entrepreneurial. we’re best people the expand. in it an and start can

that or scale a traditional that’s have. and algorithms and we our access the we have data demand with Now, data advantages startup, access platform

our we to categories give us advantage start. technologies where will so our And and an picked relationships help

technologies a we’re ourselves. of entrepreneurial the so an core building We’re lot

us and look these even to brought also give people couple in if and side us potentially, businesses, a it the We’ll from Apps to of staff years. will to So over for from the we confidence side these Apps businesses we come them the run in coming executing particular, look buy to in makes with – and more sense.

you. right, All thank

conference. This participation. does our Thank your conclude for you

at your disconnect lines time. may this You

Thanks, everyone.