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Two Blokes Jul 25 -
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AppLovin's advertising revenue rose 71% YoY to $1.16 billion, while advertising adjusted EBITDA surged 92% to $943 million. Axon's AI engine improved ad net revenue per install by 49%, despite minimal changes in publisher or user base. Free cash flow more than doubled in four years, reaching $826 million, with operating leverage driven by automation and disciplined reinvestment.