Artificial intelligence mobile advertising unicorn Liftoff Mobile has resubmitted its application for an initial public offering (IPO) just two months after withdrawing its previous registration. The company plans to list on the Nasdaq under the ticker symbol LFTO. Goldman Sachs, Jefferies, and Morgan Stanley are serving as joint bookrunners for the offering.
According to a filing submitted to the U.S. Securities and Exchange Commission on Friday, the Blackstone-backed company reported revenue of $685.7 million for 2025, with a net loss of $23.1 million. This compares to revenue of $519.3 million and a net loss of $48.2 million in the previous year. Liftoff Mobile specializes in delivering in-app mobile advertising.
In February, the company was close to finalizing its IPO price range, aiming to raise up to $762 million, but abruptly halted the listing process. At that time, market concerns about the impact of artificial intelligence on the software sector triggered a broad sell-off in software stocks, leading the company to terminate its listing plans. An announcement at the time indicated that the company secretly refiled its registration statement just weeks after the postponement.
Liftoff Mobile utilizes its proprietary neural network-driven AI predictive model, named Cortex, to generate its core advertising revenue. Its platform reached approximately 1.4 billion daily active users globally in the fourth quarter of last year.
AppLovin, a company in the same mobile app marketing sector, has seen its stock price decline nearly 35% from its peak last December. However, since late 2022, its shares have still accumulated gains exceeding 4,400%.
Blackstone acquired a majority stake in Liftoff Mobile in 2021. Based on the filing, the firm is expected to no longer hold a controlling interest following the IPO. Last year, General Atlantic purchased a minority stake in Liftoff Mobile, valuing the company at $4.3 billion.
"Liftoff's decision to file for an IPO now clearly aims to capitalize on the reopening IPO window following the de-escalation of tensions involving Iran," said Lukas Muehlbauer, a research associate at IPOX. He added that the recent rebound in software and technology stocks, coupled with rising sector ETFs, has further boosted issuer confidence. Some investors believe the sector was oversold, increasing its attractiveness for new public listings.