Blackstone-Backed Liftoff Mobile Refiles for US IPO

Liftoff Mobile Inc., the Palo Alto-based advertising technology company backed by Blackstone Inc., has refiled for an initial public offering in the United States. This move comes just two months after the firm withdrew its previous registration attempt, signaling a renewed effort to enter the public markets. The refiling indicates a strategic push to capitalize on current market conditions or improved internal performance metrics. As a specialized player in the mobile advertising ecosystem, Liftoff's trajectory serves as a barometer for investor appetite toward growth-stage ad tech firms. According to the filing submitted Friday with the US Securities and Exchange Commission, Liftoff demonstrated strong top-line growth. The company reported revenue of $685.7 million for 2025, a substantial increase compared to the $519.3 million recorded in the prior year. While the company has yet to achieve profitability, its bottom line is trending positively. Liftoff reported a net loss of $23.1 million in 2025, a significant improvement over the $48.2 million net loss posted in 2024. The success of the offering will likely depend on the broader market's willingness to value companies that are scaling rapidly while narrowing their path to profitability. A successful debut would provide a liquidity event for Blackstone and other early stakeholders.