AppLovin Corporation (APP) 53rd Annual Nasdaq Investor Conference December 9, 2025 5:35 AM EST
Company Participants
Adam Foroughi – Co-Founder, CEO & Chairperson
Matt Stumpf – Chief Financial Officer
Conference Call Participants
Matthew Cost – Morgan Stanley, Research Division
Presentation
Matthew Cost
Morgan Stanley, Research Division
Okay. All right. We are live. Good morning, everyone. Thank you all for being here. My name is Matt Cost, the Morgan Stanley U.S. Internet team. Thrilled this morning to be joined by Adam Foroughi, Matt Stumpf, CEO and CFO of AppLovin. Thank you so much for being here.
Adam Foroughi
Co-Founder, CEO & Chairperson
Thanks for doing this with us.
Matt Stumpf
Chief Financial Officer
Thanks for having us.
Question-and-Answer Session
Matthew Cost
Morgan Stanley, Research Division
Awesome. Let’s start on gaming, and then maybe it’ll be the last time we talk about gaming advertising in this whole conversation. But there’s a lots to talk about outside of it, but the vast majority of your business is in the gaming vertical. Obviously, you’ve been incredibly successful there for a number of years now. Talk about the durability of growth there and then how the competitive environment is changing? And then how do you feel about that 20% to 30% growth number that you’ve talked about historically?
Matt Stumpf
Chief Financial Officer
Yes. So when you’re looking at the mobile gaming growth, first, I try to break it up into the various components. You have to understand that there’s supply that’s also growing, which I think a lot of people don’t view that as a significant component, but it’s very important to the overall dynamics of the mobile gaming growth.
So the supply we’ve talked about that obviously, the MAX marketplace drives is growing on a double-digit basis year-over-year. So that creates a large opportunity for the overall
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