Maya Robertson
Mobile advertising and app monetization company Liftoff has formally filed for an initial public offering in the United States, marking a potential high-profile adtech listing as IPO activity shows signs of reopening in 2026.
The Redwood City, California–based firm submitted its registration documents to the U.S. Securities and Exchange Commission this week, outlining plans to list its shares on the Nasdaq under the ticker symbol LFTO. The offering is expected to raise up to $400 million, according to filing details, though final timing, pricing, and deal size remain subject to market conditions.
Founded in 2011 and restructured in 2021 through the merger of Liftoff and Vungle, the company provides AI-driven software focused on mobile user acquisition and ad monetization. Its platform is used by advertisers and app publishers across sectors including gaming, entertainment, finance, and social media. As of September 30, 2025, Liftoff’s SDK was integrated into more than 140,000 apps, reaching roughly 1.4 billion daily active users worldwide and serving over 1,000 marketers across the Americas, EMEA, and APAC regions.
Financial disclosures in the filing show Liftoff generated $491.6 million in revenue during the first nine months of 2025, compared with $377.1 million over the same period a year earlier. Net losses widened to $25.6 million for that nine-month period, up from a $7.4 million loss in 2024. On a trailing 12-month basis ending September 30, 2025, revenue totaled approximately $634 million.
Liftoff remains majority-owned by private equity firm Blackstone, which backed the company prior to its 2021 merger. In May 2025, Blackstone sold a minority stake to General Atlantic while retaining control. Reuters previously reported that Blackstone had explored strategic options for Liftoff, including a sale or IPO, at valuations that could exceed $4 billion.
Proceeds from the offering are expected to be used for general corporate purposes, including debt repayment. Goldman Sachs, Morgan Stanley, and Jefferies are leading the underwriting syndicate, supported by a broad group of investment banks.
The filing comes amid expectations that IPO markets could regain momentum in 2026, supported by anticipated interest rate cuts and improving investor risk appetite. For the adtech and mobile marketing sector, Liftoff’s public market debut could serve as a key test of valuation and demand after several years of muted exit activity.
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