Q4 2021 Ironsource Ltd Earnings Call

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Speaker 1: G-O-T... no.

No.

Yes.

Speaker 2: Hello and welcome to today's iron source Q4 earnings conference call. My name is Elliot and I will be coordinating your call today. If you would like to register a question during the presentation, you may do so by pressing star followed by one in your telephone keypad. I would now like to hand over to our host, Daniel Amir, VP of investor relations. Please call.

Hello, and welcome to today's <unk> Q4 earnings Conference call. My name is Elliott's and I'll be coordinating your call today.

I'll have to register your questions. During the presentation you may do so by pressing star followed by one no telephone keypad.

Now I'd like to hand over to our host Danielle EMEA VP of Investor Relations. Please go ahead.

Speaker 3: Good morning, everyone, and welcome to iron sources fourth quarter and year end fiscal 2021 earnings conference call.

Good morning, everyone and welcome to Iron sources fourth quarter and year end fiscal 2021 earnings conference call.

Speaker 3: My name is Daniel Amir, VP of Investor Relations.

My name is Daniel Amir VP of Investor Relations.

Speaker 3: With me today we have Tomer Barzav, Chief Executive Officer, Saf Ben Ami, Chief Financial Officer, Arnon Harish, President, and Omar Kaplan, Chief Revenue Officer.

With me today, we have so many bars Av Chief Executive Officer.

Software enemy Chief Financial Officer.

Our non Harish, President and Marc Hoffman, Chief revenue Officer.

Speaker 3: Before handing the call over to Tomer, let me remind you that this call is being recorded.

Before handing the call over to Tom here, Let me remind you that this call is being recorded.

Speaker 3: A replay of this recording will be made available on our website shortly after the call.

A replay of this recording will be made available on our website shortly after the call.

Speaker 3: We have posted the earnings release and the accompanying slide presentation on our Investor Relations webpage at investors.is.com

We have posted the earnings release and the accompanying slide presentation on our Investor Relations webpage at investors thought I S Dot com.

Speaker 3: Elements of this presentation, as well as certain statements we make on this call, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. And these statements are based on current expectations and assumptions and are not guaranteed.

Elements of this presentation as well as certain statements. We make on this call are forward looking statements within the meaning of the private Securities Litigation Reform Act of 1995.

These statements are based on current expectations and assumptions and are not guarantees.

Speaker 3: Please consider the risk factors included in our public filings with the SEC that could cause our actual results to differ materially from these forward-looking statements.

Please consider the risk factors included in our public filings with the SEC that could cause our actual results to differ materially from these forward looking statements.

Speaker 3: Other than as required by law, we assume no obligation and do not intend to update any such forward-looking statement.

Other than as required by law, we assume no obligation and do not intend to update any such forward looking statements.

Speaker 3: We also note that the financial information discussed on this call reflects estimates based on information available now and could differ materially from the amounts ultimately reported in IronSource's other SEC files.

We also note that the financial information discussed on this call reflects estimates based on information available now and could differ materially from the amounts ultimate reported an artist sources other SEC filings.

Speaker 3: During this webcast, unless otherwise specifically noted, all comparisons are year-over-year comparisons with the corresponding prior year period.

During this webcast unless otherwise specifically noted all comparisons are year over year comparisons with the corresponding prior year period.

Speaker 3: for financial information that has been expressed on a non-GAAP basis.

For financial information that has been expressed on a non-GAAP basis. We've included reconciliations to the most directly comparable GAAP measures other than with respect to adjusted EBITDA guidance for which we have not provided a reconciliation because certain items that impact adjusted EBITDA or out of the company's control.

Speaker 3: we've included reconciliations to the most directly comparable GAAP measures, other than with respect to adjusted EBITDA guidance for which we have not provided a reconciliation because certain items that impact adjusted EBITDA are out of the company's control and or cannot be reasonably predicted, and accordingly, a reconciliation is not available without unreasonable effort.

We'll and or cannot be reasonably predicted and accordingly, our reconciliation is not available without unreasonable effort.

Speaker 3: Please refer to the tables and slide presentation accompanying today's earnings release for these reconciliation.

Please refer to the tables and slide presentation accompanying today's earnings release for these reconciliation.

Speaker 3: The presentation of this financial information is not intended to be considered in isolation or as a substitute for or superior to the financial information prepared and presented in accordance with GAAP.

The presentation of this financial information is not intended to be considered in isolation or as a substitute for or superior to the financial information prepared and presented in accordance with GAAP.

Speaker 3: We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period to period comparison.

We use these non-GAAP financial measures for financial and operational decision, making and as a means to evaluate period to period comparisons.

Speaker 3: We believe that these measures provide useful information about operating results, enhance the overall understanding of past financial performance, and future prospects.

We believe that these measures provide useful information about operating results enhance the overall understanding of past financial performance and future prospects.

Speaker 3: and allow for greater transparency with respect to key metrics used by management in its financial and operational decision making. With that, I'd like to

To allow for greater transparency with respect to key metrics used by management in its financial and operational decision making.

With that I'd like to turn it over to Tom Hill.

Speaker 4: Thank you, Daniel, and thanks for joining us today. We're very pleased to be reporting an excellent fourth quarter, which closes a fantastic year for IELTS.

Thank you Daniel and thanks for joining us today.

Very pleased to be reporting an excellent fourth quarter, which closed at a fantastic year for island source.

Speaker 4: We achieved record results with total revenues of $553 million at 67% year-over-year and adjusted EBITDA of $194 million at 87% year-over-year.

We achieved a record result, we felt our revenues of $553 million up 67% year over year, and adjusted EBITDA of $194 million up 87% year over year.

Speaker 4: We are part of a small group of software companies that are delivering a unique combination of very high revenue growth and high profitability, with EBITDA margins higher than 30%.

Well part of the smallest group of software companies that are delivering a unique combination of very high revenue growth and high profitability with EBITDA margin higher than 30%.

Speaker 4: We are very pleased with this achievement and the business and financial flexibility it gives us.

We are very pleased with this achievement and the business and financial flexibility indicator.

Speaker 4: And we're proud to continue our strong leadership in the app economy with some of the largest apps, games, and telcos using our platform to fuel their growth.

And we're proud to continue our strong leadership in the App economy with some of the largest gains in telcos using our platform to fuel their growth.

Speaker 4: Today we'll start with fourth quarter results, then we'll go over some of the 2021 highlights and discuss our opportunities for 2022 and beyond.

Today, we'll start with fourth quarter results. Then we'll go over some of the 2021 highlight and discuss our opportunities for 2022 and beyond.

Speaker 4: I will then turn it over to our CFO , Asaf Ben-Ami, to dive more deeply into the numbers.

I will then turn it over to our CFO stopping to me to dive more deeply into the numbers.

Speaker 4: In the fourth quarter, we achieved record results with total revenues of $158 million, up 46% year-over-year, and is ahead of our guidelines.

In the fourth quarter, we achieved record results with total revenues of $158 million up 46% year over year and is ahead of our guidance.

Speaker 4: Our success in the quarter was primarily driven by continued execution and performance, and we saw market-share gains in both existing and new customers.

Our success in the quarter was primarily driven by continued execution and performance and we saw market share gains in both existing and new customers.

Speaker 4: For the fourth quarter, adjusted EBITDA was $57 million, up 76% year-over-year.

For the fourth quarter, adjusted EBITDA was $57 million up 76% year over year.

Speaker 4: That's consistent with our long history of providing profitable revenue growth while also benefiting from operating leverage.

That's consistent with our long history of providing profitable revenue growth, while also benefiting from operating leverage.

Speaker 4: We believe this gives us a unique advantage, since our profitability allows us to invest in innovating and maintaining an aggressive pace of product development and release.

We believe this gives us a unique advantage feeds our profitability allow us to invest in innovating and maintaining an aggressive pace of product development and releases, which we believe is an important differentiator in our industry.

Speaker 4: which we believe is an important differentiator in our industry.

Speaker 4: This is critical in a customer centric market where you need to execute quickly a new product either organically or inorganically.

This is critical in a customer centric market will you need to execute quickly on new product either organically or inorganically.

Speaker 4: Finally, we again saw the stickiness of our platform and the value it provides to our customers with a dollar-based next expansion rate of 154% for the quarter, which is above the industry average.

Finally, we're against the stickiness of Arb that firm and evaluate provides <unk> customers with a dollar based net expansion rate of 150 purpose and for the quarter, which is above the industry average.

Our results reflect the success of both Sonic our App solution suite and aura, our telco solution suite, both of which had a strong quarter.

Speaker 4: Our results reflect the success of both SONIC, our App Solution Suite, and Aura, our Telco Solution Suite, both of which had a strong quarter. On the SONIC front,

On the Sonic front, we closed two acquisitions.

Speaker 4: Vidalgo and Tapjoy in December and January , respectively, and launched several new products.

B dongle and top Julien.

In December and January respectively.

And launch several new products too.

To highlight just a few.

Speaker 4: We develop extensive tools to help developers succeed on iOS post-IDFA deprecation.

We develop extensive tool to help developers to exceed on Io. It post IBSA deprecation and last quarter, we will first to market with support for Apple's customer product pages, a product that supports better optimization for user acquisition on iOS.

Speaker 4: And last quarter, we were first to market with support for Apple's Customer Product Pages, a product that supports better optimization for user acquisition on iOS.

Speaker 4: This product is already in use by many AAA developers, including King, a leading mobile game developer and a company behind the hugely popular game, Candy Crush.

This product is already used by many triple 80 developers, including King a leading mobile game developer and accompany behind the hugely popular game Candy crush.

Speaker 4: In addition, we launched App Analytics earlier this month.

In addition, we launched <unk> earlier this month.

Speaker 4: On the Aura front, in Q4, we started to see the ramp-up of new devices from partnerships with Samsung and Vodafone that we announced last year.

On the RF front in Q4, we started to see the ramp up of new devices from program shifts with Samsung and Vodafone that we announced last year.

Speaker 4: We also saw the addition of two new customers, both leading tier one telecom operators that should start ramping up in the first half of 2022.

We also saw the addition of two new customers, both leading tier one telecom operator that should start ramping up in the first half of 2022.

Speaker 4: Our strong Q4 results are consistent with the great year we had in 2021, which was a banner year for Ivansford.

Our strong Q4 results are consistent with the great year, we had in 2021, which was a banner year for islands worth.

Speaker 4: As you know, we went public in June , which was an important validation of the strengths of our business and financials and our approach to growing the app economy.

As you know we went public in June which was an important validation of the strength of our business and financial and our approach to growing the app economy.

Speaker 4: You may remember that when we started the IPO process early last year, we expected revenue growth for 2021 to be 37%.

You may remember that when we started the IPO process early last year, we expected revenue growth for 2021 to be 37%.

Speaker 4: With 2021 now complete, we're very proud that we've achieved revenue growth of 67%, significantly above our initial expectations and much above the industry.

We 2021 now complete we're very proud that we've achieved revenue growth of 67% significantly above our initial expectation and much above the industry.

Speaker 4: All this while achieving EBITDA margins of 35%, which also beat our projections of 29% at the beginning of the year.

All of this while achieving EBITDA margins of 35%, which also beat our projections of 29% at the beginning of the year.

Speaker 4: This is a tremendous achievement and I'd like to highlight five of the key factors that we think contributed to this very successful year.

This is a tremendous achievement and I'd like to highlight five of the key factors that we think contributed to this very successful Viva.

Speaker 4: First, our success was driven by our lend and expense strategy, which is at the heart of our platform approach.

First our success was driven by our land and expense strategy, which is at the heart of opt out from approach.

Speaker 4: The breadth of the solution we offer means that we have multiple points of entry to land new customers and multiple potential avenues to expand with them.

The breadth of the solution. We offer means that we have multiple points of entry to land, new customers and multiple potential avenues to expand with them.

Speaker 4: We see that, more often than not, new customers will start by using one solution and expand to additional solutions over time.

We see that more often than not new customers with <unk> by using one solution and expand to additional solutions over time.

Speaker 4: More than 70% of our large customers use at least two solutions. And in Aura, we see customers often expand to additional on-device touch points.

More than 70% of our large customers use at least two solutions and in aura, we see customers often expand to additional on device touch phone.

This drives both stickiness and retention.

Speaker 4: and is the reason for a high dollar-based net expansion rate.

And is the reason for our high dollar based net expansion rate.

Speaker 4: We believe that the more solutions customers use, the more they grow with us. And we ended Q4 with 358 large customers compared to 291 at the end of Q4 of 2020.

We believe that the more solutions customer use the multi grow with us and we ended Q4 with 358 large customers compared to 291 at the end of Q4 of 2020.

Speaker 4: Importantly, this is supported by our ability to continue expanding our offering with new solutions.

Importantly, this is supported by our BD to continue expanding our offering with new solutions.

Speaker 4: As I mentioned earlier, being highly profitable allows us to invest in innovation and product development and in strategic M&A to support.

As I mentioned earlier being highly profitable allow us to invest in innovation and product development and strategic M&A to support.

Speaker 4: The second key element in the success of our platform is the unique combination of multiple data types and how we analyze them.

The second key element in the success of our platform is the unique combination of multiple data types.

And how we analyze them.

Speaker 4: The breadth of our solution means I also get app-centric data from a number of different sources on the platform, and we're able to see the entire app growth lifetime.

The breadth of our solution means I also get at century data from a number of different filters on the platform and we're able to see the entire up growth lifecycle.

Speaker 4: First, our SDK is widely used. And last quarter, 88 of the top 100 games in the US used the Amazon platform.

First our SDK is widely used.

And last quarter 88 of the top 100 gain in the U S use the alkyl stuff for them.

Speaker 4: Almost every major game developer uses our platform.

Almost every major game developer uses our platform.

Second our solutions suite was integrated in over one 1 billion devices globally, giving us significant device level data.

Speaker 4: Second, our Aura solution suite was integrated in over 1.1 billion devices globally, giving us significant device-level data.

Speaker 4: Third, we're able to leverage first-party data from our publishing software, which has generated more than 1.7 billion downloads to date.

Third we're able to leverage first party data from our publishing software, which has generated more than $1 7 billion downloads to date.

Speaker 4: It's worth noting that in 2021, our publishing solution became the third largest in the US in terms of downloads.

It's worth noting that in 2021 are publishing solution became the third largest in the U S in terms of download.

Speaker 4: It's also important to note that customers trust us with their data because of our clear focus on their business success.

It's also important to note that customers trust us with their data because of our clear focus on their business success.

Speaker 4: And our business model is one where we grow and succeed in line with our customers.

And our business model is one where we grow and succeed in line with our customers' success.

Speaker 4: We funnel all this data throughout our machine learning algorithms, which were built predominantly on contextual models from day one.

We found all these data outgrowth, our machine learning algorithms, which were built predominantly on contextual models from day one.

Speaker 4: With the constant growth in data flowing in, we created a powerful survival of data advantage while prioritizing privacy.

With a constant growth in data flowing in we created a powerful since I will of Bay had vantage while prioritizing privacy.

Speaker 4: This approach of collecting abstentric data from multiple sources is a point of differentiation.

This approach of collecting up centric data from multiple sources.

Is a point of differentiation for our company.

Speaker 4: It helped us achieve record revenue growth and profitability in 2021 despite the industry challenges around changes in iOS and IDSA.

It helped us achieved record revenue growth and profitability in 2021, despite the industry challenges around changes in Iowa and Ibs C.

Speaker 4: In fact, we're net beneficiaries from IDSA, which was important to our revenue growth in 2021.

In fact, we're a net beneficiary from idea fee, which was important to our revenue growth in 2021, we.

Speaker 4: We believe that our data advantage is a key component for our future growth.

We believe that our data advantage is a key component for our future growth.

Speaker 4: The third key factor contributing to our success in 2021 is our ongoing innovation.

The third key factor contributing to our success in 2021 is our ongoing innovation.

Speaker 4: During 2021, we launched a number of new products. These include further enhancement to our in-app bidding capabilities.

During 2021, we launched a number of new products. These include <unk>.

Further enhancement to our inner bidding capabilities.

Speaker 4: customer adopters to support all available demand sources within our mediation.

Customer adopters to support all available demand surface within our remediation.

Speaker 4: and tools to help developers effectively distribute on iOS post-IDFA deprecation.

And tools to help developers effectively distribute on the Iowa, both idea Fei deprecation.

Speaker 4: We also released a tool giving developers the ability to create rich, interactive ads at speed and scale.

We also released a tool, giving developers the ability to create reach interactive AD at speed and scale.

Speaker 4: And we launched live games, which significantly further the automation of our publishing solution.

And we launched live game, which significantly further the automation of our publishing solution.

Speaker 4: In addition, we recently launched an analytics product, significantly increasing the value to customers by centralizing even more critical app businesses functions in one platform.

In addition, we recently launched an analytics product significantly increasing the value to customers by centralizing, even more critical businesses function in one platform.

Speaker 4: The IoT platform already included robust growth analytics around monetization and user acquisition.

The alpha stuff from already included robust growth in analytics around monetization and user acquisition.

Speaker 4: With this new product, we're providing complete app analytics so that developers can evaluate and optimize the entire app experience, as well as the growth and revenue operation.

These new products, we're providing complete <unk>, so that developers can evaluate and optimize the entire app experience as well as the growth in revenue operation.

Speaker 4: This expands the number of crawls that our platform addresses within app-based business.

These expand the number of pulls of our platform addresses within our base businesses from game designers to growth managers monetization managers and even the executive team.

Speaker 4: from game designers to growth managers, monetization managers, and even the executive team.

Speaker 4: These products are only a snapshot of many other improvements and innovations that we brought to the platform this year, and we believe this pace of product development is critical to our success.

These products are only a snapshot of many other improvements and innovation that we brought to the Duff from this year and we believe this pace of product development is critical to our success.

The fourth factor that contributed to the year success with our M&A strategy.

Speaker 4: The fourth factor that contributed to the year's success was our M&A strategy as part of the industry consolidation. We completed four successful…

As part of the industry consolidation.

We completed four successful acquisition.

Donna sooner.

Speaker 4: Zumla, Vidalgo, and Zapata.

Similar to be valuable and Dove Joey.

Speaker 4: Together, they strengthened our overall portfolio, expanded our business opportunities and time, and increases the stickiness with our customers.

Together, they strengthened our overall portfolio, expanding our business opportunities and time and increases the stickiness with our customers.

Speaker 4: These acquisitions of fast-growing and strategically complementary businesses are part of our strategy of investing in the business both organically and inorganically.

This acquisition of fast growing and strategically complementary businesses as part of our strategy of investing in the business both organically and Inorganically.

Finally, I'd like to touch on our partnership.

Speaker 4: 2021 was a record year in terms of our new oracast.

2021 was a record year in terms of our new are our customers.

Speaker 4: We also expanded our partnership with existing Aura customers, another good example of our Lend and Expend strategy in action.

We also expanded our partnership with existing Oracle customers. Another. Good example of our land and expand strategy in action.

Speaker 4: We launched Samsung devices beyond the APAC region and further expanded the partnership to cover all Samsung's open market funds in Europe .

We launched Samsung devices beyond the APAC region.

And further expanded the puzzle sheep to cover all Samsung open market funds in Europe .

Speaker 4: We are proud of our hard work with one of the fastest-growing Tier 1s in the U.S., T-Mobile.

We're proud of our hard work with one of the fastest growing tier one in the U S T.

T mobile.

Speaker 4: The Aura platform has been on board with T-Mobile for a while, providing multiple touch points for user engagement.

The Olaf that firm has been on board with T mobile per watt, providing multiple touch points for user engagement.

Speaker 4: Recently, we added an additional touchpoint with T-Mobile.

Recently, we added an additional touch point with T mobile.

Speaker 4: Our Aura new solution, which went live in late 2021, is off to an encouraging start as an indication of how our core products have continued to impress and improve performance to power additional revenue growth.

Our our new solution.

Which went live in late 2021 is off to an encouraging start as an indication of how our core products have continued to impress and improved performance to power additional revenue growth.

Speaker 4: This drives further value to users and, therefore, incremental monetization for Telco.

These drive further value to yuval, and therefore incremental monetization for telco customers.

Speaker 4: In addition, we announced a new partnership with Vodafone Europe .

In addition, we announced a new partnership with Vodafone Europe .

Speaker 4: As of the end of 2021, Aura was installed in about 1.1 billion devices.

As of the end of 2021 Aurora was installed in about $1 1 billion devices.

Speaker 4: We'll continue to expand our value proposition to telcos. As with Sonic, we continue to add more products to the Aura offering, which allows telcos to not only participate in the app economy, but also achieve digital transformation.

We'll continue to expand our value proposition to telcos as we'd Sonic we continue to add more products to the aura offering which allows telcos to not only participate in the app economy, but also achieve digital transformation.

Speaker 4: Fall and Sonic together provide a powerful combination.

Well Anthony together provide a powerful combination.

Speaker 4: In 2021, approximately 30% of our revenues came from customers using both our Sonic and Aura product suites, and we believe this number will continue to increase over time.

In 2021, approximately 30% of our revenues came from customers using both our sonic in aura product suite and we believe this number will continue to increase over time.

Speaker 4: This is proof of our platform approach, which is designed to serve the two core constituents of the app economy, the app developers and telecom operators, allowing them to grow and prosper.

This is proof of our platform approach, which is designed to serve the two corporate fee trends of the App economy, the app developers and telecom operators, allowing them to grow and prosper.

Speaker 4: With the launch of new products and the expansion of our partnership, the IOTUS platform continues to provide additional value to customers.

With the launch of new products and expansion of our partnership the analytics platform continues to provide additional value to customers.

Speaker 4: Our results clearly validate our approach and prove that we are able to provide a robust and differentiated offering to the market.

Our results clearly validate our approach improve that we are able to provide a robust and differentiated offering to the market.

Speaker 4: We plan to continue to build out our platform offering throughout technological innovation and strategic M&A.

We plan to continue to build out our platform offering throughout technological innovation and strategic M&A in.

Speaker 4: in order to increase the use of our platform by existing customers and gain market share with new customers.

In order to increase the use of our platform by existing customers and gain market share with new customers.

I'll now shift gears to talk about the opportunities ahead.

Speaker 4: As we look into 2022 and beyond, we see exciting growth within a larger town.

As we look into 2022 and beyond we see exciting growth within a larger Tam.

Speaker 4: The acquisition of Zumla, Luna, Vidalgo and Tapjoy significantly increases the products we can offer to our customers.

That acquisition of tumor that Luna be dialed going top joy significantly increases the products, we can offer to our customers.

Speaker 4: This, in turn, increases the points of entry we have to land and expand and also the potential wallet share we can achieve with each customer.

This in turn increases the bunch of enquiry, we have to land and expand and also the potential wallet share we can achieve with each customer.

Speaker 4: These activities will enable us to expand our long-term TAM to $50 billion compared to the previously discussed $41 billion. We are very excited about the large opportunity ahead.

These activities will enable us to expand our long term Tam to $50 billion compare to the previously discussed fell two 1 billion.

Well very excited about the large opportunity ahead.

To double click on the Tam expansion.

Speaker 4: The acquisition of Bidalgo when combined with our Luna acquisition has allowed us to create a truly comprehensive cross-channel solution for app marketing.

The acquisition of B Dougall, when combined with our lunar acquisition has allowed us to create a truly comprehensive cross channel solution for marketers.

Speaker 4: Developers now have the technology giving them the visibility, control, and creative automation needed to drive incremental growth.

Developers now have the technology, giving them the visibility control and creative automation needed to drive incremental growth.

Speaker 4: This cross-channel marketing solution allows us to increase our share of wallets with customers.

These cross channel marketing solution allow us to increase our share of wallet with customers.

Speaker 4: App developers need to be able to run and optimize marketing campaigns across multiple channels in order to grow at scale.

As developers need to be able to run and optimize marketing campaigns across multiple channels in order to grow at scale.

Speaker 4: This includes social and search channels like Facebook and Apple search apps.

These include social and search channels like Facebook and Apple search ads.

Speaker 4: We are now allowing marketers to manage and optimize all their marketing across multiple channels, all in one platform.

We are now, allowing marketers to manage and optimize older marketing across multiple channels.

All in one platform.

Speaker 4: This allows us to capitalize on significant additional streams of marketing spend within the app economy.

These allow us to capitalize on significant additional streams of marketing spend within the App economy.

Speaker 4: A good example is a product which allows app marketers to manage, optimize, and analyze their Apple Search Ads campaign.

A good example is a product which allow upmarket earth to manage optimize and analyze their apple search ads campaign.

Well one of the only seven official Apple search AD partners, giving us leadership spot in the iOS ecosystem going forward.

Speaker 4: We're one of the only seven official Apple search ad partners, giving us leadership spot in the iOS ecosystem going forward.

Speaker 4: With Bidalgo and Luna together, we're able to offer a comprehensive marketing software solution that allows us to capitalize on the vast market of social and sales spending.

We'd be dahlgren lunar together, we're able to offer a comprehensive marketing software solution that allow us to capitalize on the vast market of social and self spin.

Speaker 4: In addition, we are seeing tremendous value in apps beyond games using our platform.

In addition, we're seeing tremendous valuing up beyond games using our platform.

Speaker 4: both with existing products and when considering BIDALGO and TAPGEN.

Both with existing products and when considering be dougall in top Julie.

Speaker 4: We're working with some of the leading app-based businesses out there across every category including dating, e-commerce, social media, lifestyle, and utilities.

We're working with some of the leading App based businesses out there across every category, including dating E Commerce, social media lifestyle and utilities.

We're still in early stages of this opportunity.

Speaker 4: A helpful way to think about it is to look at where the game industry was 5-6 years ago, before ad monetization really took off.

Helpful Way to think about is is to look at where the game industry. What five six years ago before Ed monetization really took off.

Speaker 4: when developers started using ads that functioned like an integral part of the game experience, almost like microtransactions.

When developers started using AD that function like an integral part of the game experience almost like micro transaction.

Speaker 4: developers were able to generate meaningful additional revenue while delighting and rewarding users.

Developers were able to generate meaningful additional revenue, while delighting and rewarding users.

Speaker 4: Ad revenue became significant revenue stream which ended up enabling the growth of the entire category by providing more funds to invest in user growth.

And revenue became significant revenue stream, which ended up enabling the growth of the entire category by providing more funds to invest mutual growth.

Speaker 4: We believe this evolution is going to happen in app categories outside of games as well.

We believe this evolution is going to happen in categories outside of gains as well.

Speaker 4: We are seeing that market players are starting to recognize that platforms like IonSource can help drive app businesses' success.

We're seeing that market players are starting to recognize that plot firms like <unk> can help drive our businesses success.

Speaker 4: This is particularly relevant to transaction-based apps that can leverage ad-supported payments to create more value for users.

This is particularly relevant to transaction based apps that can leverage our support and payments to create more value for users.

Speaker 4: We believe that the long-term time opportunity for apps beyond games could be material.

We believe that the long term time opportunity for us beyond games could be material.

Speaker 4: We're very excited about this opportunity and with Tapjoy and Vidalgo, we have further established ourselves as market leaders.

We're very excited about this opportunity and we tapped joy and Vidal go we are further establish ourselves as a market leader.

Finally in aura in the past 60 days, we've signed two additional partnerships that we expect to ramp up in the first half of 2022.

Speaker 4: Finally, in Aura, in the past 60 days, we've signed two additional partnerships that we expect to ramp up in the first half of 2022.

Speaker 4: The first is with a leading Asian Tier 1 telecom operator and the second is with a leading European Tier 1 telecom operator.

The first is with a leading Asian tier one telecom operator, and the second is with a leading European tier one telecom operator.

Speaker 4: Our continued success in winning RFPs and signing new customers shows the strength of our Aura solution suite, its value for telcos, and its advantage over other solutions in the market.

Our continued success in winning Rfps in signing new customers. So the strength of our oral solution suite, it's value for telcos and Heath advantage over other solutions in the market.

Speaker 4: To summarize, this has been a great quarter and a great year on all fronts.

To summarize this has been a great quarter and a great year on all fronts.

Speaker 4: We had very strong financial performance, including maintaining strong profitable growth.

We had very strong financial performance, including maintaining strong profitable growth.

Speaker 4: We grew our time by increasing the value we offer existing customers and growing in apps beyond games. And we continue to grow our

We grew our time by increasing the value we offer existing customers and growing in ops beyond game.

And we continue to grow our technological advantage.

Speaker 4: Taken together, these pillars allow us to maintain our leadership position and fulfill our goal of providing our customers with the most comprehensive business platform for the app economy.

Taking together these pillars allow us to maintain our leadership position and fulfill our goal of providing our customers with the most comprehensive business platform for the App economy.

Speaker 4: We look forward to a strong 2022, as we continue to grow and serve our customer base and innovate in new markets.

We look forward to a strong 2022, as we continue to grow and serve our customer base and innovate in new markets.

Speaker 4: I'd also like to take a moment to thank the incredible IronSource team who continue a long tradition of both excellence in execution and innovation.

I'd also like to take a moment to thank the incredible irises team, who continue a long tradition of both excellent in execution and innovation.

Speaker 4: With that, I will turn the call over to Asaf to provide you with details on our financial performance and guidance.

With that I will turn the call over to SaaS to provide you with details on our financial performance and guidance.

Yeah.

Thank you tomer.

Speaker 1: We are pleased to report strong results for Q4 and for the full year. Once again, we exceeded our guidance. We delivered record results for the fourth quarter, with strong top-line growth and high profitability.

We are pleased to report strong results for Q4 and for the full year. Once again, we extended the ROE guidance, we delivered the results for the fourth quarter with strong top line growth and high profitability for the quarter.

Speaker 1: for the quarter, revenue grew 46% year-over-year, and we achieved 36% adjusted dividend margin.

Revenue grew 46% and we achieved 36% adjusted EBITDA margins.

Speaker 1: Since day one, our strategy has been to prioritize growth and maintain profitability and healthy margins. We are proud of our ability to meet our commitments and to maintain a robust financial profile. Our strong growth and very high profitability is the result of our superior technology, data advantage, and our team's amazing execution.

Since day, one our strategy has been to prioritize both and maintain.

Profitability and healthy margins.

Our ability to meet our commitments and to maintain a robust financial profile our.

Our strong growth and very high profitability is there there's lots of our superior technology data advantage and our team's amazing execution.

Okay.

Speaker 1: Our customers are using our platform more and more, they are adopting more solutions and this translates to an increase in our revenue. By aligning our growth with our customer success, we see a high net expansion rate, which has averaged 158% in the past 10 quarters.

Our customers are using our platform more and more data adopting more solutions and this translates to an increase in our revenue base.

By Landauer growth with our customer success, we see a heightened expansion rate, which has averaged 158% in the first quarter.

Speaker 1: As I mentioned, Q4 and the full year 2021 were very strong, on both top line and the bottom line, and both were higher than our guidance.

As I mentioned Q4, and the full year 2021 were very strong on both top line and the bottom line and both were higher than our guidance as Thomas mentioned, we started 2021 with a forecast of 37% you also the growth in revenue and 29% and adjusted EBITDA margins.

Speaker 1: As Tomer mentioned, we started 2021 with a forecast of 37% yield-related growth in revenue and 29% in adjusted EBITDA margins. We were able to outperform while increasing our guidance for three consecutive quarters.

We were able to outperform while increasing all of his guidance for three consecutive quarters.

Speaker 1: For Q4 2021, we are pleased to report that we generated $158 million of revenue, compared to $108 million in Q4 2020, year-over-year growth of 46%.

For Q4 2021.

These stores that we generated $158 million for further new compared to $108 million in Q4, 'twenty 'twenty, you hopefully with a growth of 46% Rev.

Speaker 1: Revenue for the fiscal year 2021 was $553 million, compared to $332 million in 2020, year-over-year growth of 67%.

Revenue for the fiscal year 2021 was $553 million.

Total $332 million in 2020.

Any growth of 67%.

Speaker 1: These results include less than 1% from non-organic revenue sources.

Those also include less than 1% from Nonorganic revenue sources.

Speaker 1: For the quarter and for the year, Sonic generated 88% of our total revenue, and Aura generated 12%.

For the quarter and for the year. So I think generated 88% of total revenue and the origin of where it's at 12%.

Our revenue is driven mainly by our largest customer we.

Speaker 1: We define Dutch customers as those who generate over 100K in the 2012 month.

We define large customer that's dosing generate ultra 100, K in the trailing 12 months.

Speaker 1: This group grew to 358 customers in Q4 2021, up from 291 in Q4 last year.

This work group between 58 customers in Q4 of 2021.

Our fourth quarter and 91 in Q4 last year.

Speaker 1: This represents a year-over-year growth of 23%.

The surface and you also need a growth of 23% we achieved all these drink unparalleled gaming industry consolidation.

Speaker 1: We achieved all this during unparalleled gaming industry consolidation.

Speaker 1: continue to maintain a very high growth potential rate of 98% in Q4.

We continue to maintain a very high gross retention rate of 98% in Q4.

Speaker 1: These large customers represent 95% of our total revenue in the 12 months of Q4 2021.

<unk> customers represent 95% of forward they'll start arriving.

The trailing 12 months of Q4 2021 .

Speaker 1: Due to their increasing usage of our solutions, we are able to cross-sell and up-sell a greater portion of our solutions to them, as well as general growth in the number of new customers that contributed more than $100K of revenue.

Due to the increasing usage of our solutions, we're able to cross sell a greater portion of our solutions to them.

As general growth in the number of new customers that contributed more than 100, K Youll forbidden.

Speaker 1: Our dollar-based net expansion rate for Q4 remains healthy at 154%. It is within the guidance provided last quarter and reflects our business model, which is focused on customer success.

Our dollar based net expansion rate for Q4 remains healthy at 154%. It is within the guidance provided last quarter and reflect our business model, which is focused on customer success.

Speaker 1: As we communicated last quarter, we continue to expect our dollar-based expansion rate to remain very healthy. It will normalize at our historical level in 2022.

As we communicated last quarter, we continue to expect our dollar based net expansion rate to remain very healthy.

It will normalize it that way.

In 2022.

Speaker 1: As we highlighted, with another strong possi quarter with proheritities, growth and investment, but we believe in possibility, in healthtim.

As we highlighted with another strong and profitable quarter, We fund they always says growth and investment, but we believe in profitability and healthy margins.

Speaker 1: We generated adjusted EBITDA of $57 million in Q4 2021, representing year-over-year growth of 76% from our adjusted EBITDA of $33 million in Q4 of last year.

We generated adjusted EBITDA of $57 million off in Q4 2021 reps.

You also had growth of 76% from our adjusted EBITDA of $15 million in Q4 of last year.

Speaker 1: For the 2021 fiscal year, we generated just a dividend of $194 million, representing zero-value growth of 87% from our adjusted dividend of $104 million in 2020.

For the <unk> 2021 fiscal year, we generated adjusted EBITDA of one had been at $94 million.

Representing.

Growth of 87% from our adjusted EBITDA of lung and then the $4 million in 2020.

Speaker 1: This was driven mainly by revenue growth across all of our solutions and revenue growing started and expanded.

This call is Susan mainly by revenue growth across all of our solutions and revenue growing faster than expenses.

Speaker 1: Our non-GAP diluted EPS for the quarter was 5 cents.

Our non-GAAP diluted EPS for the quarter was 5%.

Speaker 1: For the 2021 fiscal year, our non-GAAP diluted EPS was $0.70, and our year-end net cash position was $782 million.

For the 2021 fiscal year, our non-GAAP diluted EPS was 17% and that wasn't year end net cash position was $782 million.

Speaker 1: Now to guidance. Our guidance takes into consideration the following factors. The recent Q4 results, the momentum across our platform, and more normal operations and traffic.

Now to guidance our guidance takes into consideration. The following factors. There is since your phone results the momentum across our platform and more normal operations and swap it.

Speaker 1: Guidance is consistent with our strategy of prioritizing top-line growth as we continue to invest in our future. Our financial profile provides us with the flexibility to succeed and stand out in the software space. We will continue to build out our overall platform portfolio, which will further extend our time. We believe that through product innovation and our ongoing M&A strategy, we can further grow our platform for the long run.

Guidance is consistent with our strategy prioritizing top line growth as we continue to invest in our future.

Our financial profile provides us with the flexibility to succeed and stand out in the social space. We will continue to build out and we'll also look to our portfolio, which will further extend our Tam we believe the throughput that the innovation and our ongoing M&A strategy. We can further grow our platform for the long run.

Speaker 1: For the first quarter of 2022, total revenue is expected to be in the range of $180-185 million, representing 52% growth on a yearly basis at the midpoint.

For the first quarter of 2022 total revenue is expected to be in the range of $180 million to $195 million.

<unk>, 52% growth on a yearly basis it didnt disappoint.

Speaker 1: Adjusted EBITDA is expected to be in the range of $56 to $58 million, representing 44% growth on a yearly basis at the mid-term.

Adjusted EBITDA is expected to be in the range of $56 million to $58 million, representing 44% growth on a yearly basis at the midpoint, we expect our fully diluted share count to be approximately $1 1 billion.

Speaker 1: We expect our fully diluted Shere Khan to be approximately 1.1 billion.

Speaker 1: For the full year 2022, we expect total revenue to be in the range of $790 to $820 million, representing 45% growth at the midpoint. Adjusted EBITDA is expected to be in the range of $255 to $265 million, representing 34% growth at the midpoint.

For the full year 2022, we expect total revenue.

To be in the range of 792, a $20 million, representing 45% growth I didn't point adjusted EBITDA is expected to be in the range of $255 million to $265 million representing.

4% growth at the midpoint.

Speaker 1: in summer. This is our first year as a public company and we are very pleased with our fourth quarter performance and fiscal year 2021 results.

In summary, this is our first year as a public company and we are very pleased with our fourth quarter performance in fiscal year 2021 results.

Speaker 1: I am very proud of what our team has accomplished. We successfully executed against the strategy we articulated when we went public to drive organic and inorganic growth and maintain a robust financial profile. And we look forward to delivering strong results in the year ahead as we continue to bolster our market leadership in the app economy. With that, I will turn the call back.

And does it pose a fourth of our team has accomplished we successfully executed against the strategy. We articulated when we went public to drive organic and inorganic growth and maintain a robust financial profile and we look forward to delivering strong results in the U.

As we continue to bolster our market leadership in the App economy.

With that I will turn the call back to Daniel.

Thank you oxy.

Speaker 3: Before we open the call for questions, we'd like to share answers to three questions that we've gotten from analysts, which we think might be of interest. Afterwards, we will go to your live questions.

Before we open the call for questions, we'd like to share answers to three questions that we've gotten from analysts.

Which we think might be of interest afterwards, we will go to your live questions.

The first question comes from Jason Bazinet at Citi.

Speaker 3: The question is, there is a lot of confusion about IDFAs, given the divergent results from Facebook versus Snap.

The question is there is a lot of confusion about idea face given the divergent results from Facebook versus snap.

Speaker 3: Can you please share your observations and one implication, if any, this has on your business? Tomé, this question is for you.

Can you please share your observations and what implications if any this has on your business.

So this question is for you.

Thank you Jason for the question.

Speaker 4: The industry has gone through many changes in Apple's IDFA announcement in the second quarter of 2021.

The industry has gone through many changes in apples idea Fe announcement in the second quarter of 2021.

Speaker 4: Three quarters later, we see that some companies have been able to adjust their algorithms to these changes better than others.

Three quarters later, we see that some companies have been able to adjust our algorithms to these changes better than others.

Speaker 4: We prepared for IDFA for a very long time, and when it finally happened, we were well positioned.

We prepared for IPF phase for a very long time and when it finally happened we're well positioned.

Speaker 4: We initially took a conservative approach, not knowing the full potential impact it could have on our overall industry and on us specifically.

We initially took a conservative approach not knowing the full potential impact it could have on our overall industry and on us specifically.

Speaker 4: As you can now see, we're one of the platforms that benefited from the Apple changes.

And you can now see well one of the top firm that benefited from the Apple changes.

Speaker 4: At this point, three quarters since the IDFA changes came into effect, we believe we established a strong position in the market as net beneficiary of IDFA.

At this 0.3 quarters since the IBSA changes came into effect. We believe were establish a strong position in the market as net beneficiary of idea.

Speaker 4: It's important to note that the reason we've been successful is the advantage of our technology stack across Android and iOS.

It's important to note that the reason we've been successful is the advantage of our technology stack across Android and iOS.

Speaker 4: A key element in the success of our platform is our scale and combination of different solutions.

Key element in the success of our platform is our scale and a combination of different solutions.

Speaker 4: RSS gets up-to-date data from a number of different sources on the platform, which is different from others in the industry. First, our LCP...

Ours would get us centric data from a number of different sources on the platform, which is different from others in the industry.

First our SDK is widely used.

Speaker 4: and last quarter, 88 of the top 100 games in the U.S. used the Analytics platform.

And last quarter 88 of the top 100 games in the U S use the analytical platform.

Speaker 4: Almost every major game developer uses our solution.

Almost every major game developer uses our solution.

Speaker 4: Second, our Aura solution suite has been integrated in over 1.1 billion devices globally, giving us significant device-level data.

Second our <unk> solution suite has been integrated in over one 1 billion devices globally.

Giving us significant device level data.

Speaker 4: Third, we're able to leverage first party data from our publishing software, which has generated more than 1.7 billion downloads today.

Third we're able to leverage first party data from a publishing software, which has generated more than $1 7 billion downloads to date.

We believe that our predominantly contextual based model will give us a long term advantage.

Speaker 4: We believe that our predominantly contextual-based model will give us a long-term advantage.

Speaker 3: Thank you, Thomas. The next question comes from Clark Lampin from BTIG.

Thank you throw them out there.

The next question comes from Clark Lamping from BTG.

Speaker 3: question is the following. How, if at all, do you expect consolidation in the gaming ecosystem to affect your business near and long term?

Question is the following.

How if at all do you expect consolidation in the gaming ecosystem to affect your business near and long term.

Speaker 3: It's early, but a focus on cross-platform play and efforts to bring spending and ad sales onto first-party platforms has so far seemed fairly unsuccessful.

It's early but a focus on cross platform play and efforts to bring spending in AD sales onto first party platforms has so far seen fairly unsuccessful.

Speaker 3: Do you see that as a potential risk to budget share over time?

Do you see that as a potential risk to budget share overtime.

So this question is for you.

Speaker 4: Thank you, Clark, for the question. There is a lot in this question, so let me break it down.

Thank you Clarke further question there is a lot in this question. So let me break it down a bit.

Speaker 4: I will first talk about the consolidation and then address ad budget.

I will first talk about the consolidation and then the dress ad budget.

Speaker 4: The recent consolidation in the gaming industry continues a trend we've seen in recent years, but at a larger scale.

The recent consolidation in the gaming industry continues a trend we've seen in recent years, but at larger scale.

Speaker 4: Economies of scale in the gaming industry are critical, and that has been the driving force.

Economies of scale in the gaming industry are critical and that has been the driving force.

Speaker 4: As we look at the industry, we may also see new players entering this market and acquiring game developers to build franchises.

As we look at the industry. We may also see new players entering this market and acquiring game developers to build franchises.

Speaker 4: which is a trend we have not seen much in the past.

We achieved a trend we have not seen much in the past.

Speaker 4: Our view on consolidation is that it will lead game developers to further focus on what they do best, which is to create great games.

Our view on consolidation is that it will lead game developers to further focus on what they do best which is to create great game.

Speaker 4: So further consolidation will only strengthen our position in the market as we've seen over the past few years.

So further consolidation will only strengthen our position in the market as we've seen over the past few years.

Speaker 4: More broadly, the industry is moving towards using platforms.

More broadly the industry is moving towards using platforms.

Speaker 4: Given our machine learning algorithms, scale, and breadth of available solutions, we continue to believe that Tier 1 gaming companies will increase businesses with us over time.

Giving our machine learning algorithm scale and breadth of available solution. We continue to believe that tier one gaming companies will increase their businesses with us overtime.

Speaker 4: As I mentioned earlier, last quarter, 88 of the top 100 games in the U.S. used the RLTOR platform.

As I mentioned earlier last quarter 88 of the top 100 games in the U S use the <unk> platform.

Speaker 4: One final point is that our revenue growth has been substantial in recent years and that is happening at the same time as the consolidation in the industry which reflects our strong market position.

One final point is that our revenue growth has been substantial in recent years and that is happening at the same time as the consolidation in the industry, which reflects our strong market position.

Speaker 4: Now let me address the second part of your question on the AdSense industry impact.

Now let me address the second part of your question on the AD sales industry impact.

Speaker 4: We believe that the most effective way to distribute games is promoting them via other games using a best-in-class strategy.

We believe that the most effective way to distribute games is promoting them via our other games.

Using our best in class targeting technology.

Speaker 4: In order to do this at scale and effectively, the distribution of games needs to be very wide and include all genres and types.

In order to do this at scale and effectively the distribution of game needs to be very wide and include all genres and types.

Speaker 4: This can't be based on a single closed platform or by migrating users from one platform to another. Finally,

This can be based on a single cloud platform by me grading users from one platform to another.

Finally, and this is a point I've made in the past.

Speaker 4: The full democratization of content in the app economy and its variety is what makes it so successful and we believe it will continue to grow.

The full democratization of content in the App economy and ease of variety is what makes it so successful and we believe it will continue to grow.

Speaker 3: Thank you, Thomil. The third question comes from Tim Nolan at Macquarie.

Thank you Tom Hill, and the third question comes from Tim Nolan at Macquarie.

Question is the following.

Speaker 3: Can you talk about growth beyond the gaming vertical? How important is it to expand the roster of clients? And how might you compete with omni-channel SSPs?

Can you talk about growth beyond the gaming vertical.

How important is it to expand the roster of clients and how might you compete with Omnichannel SSP.

Speaker 3: Homer, our CRO and co-founder, will answer this question.

Our CRO and co founder will answer this question.

Thank you team for the question. We believe the gains are leading the way in other verticals will follow and we are starting to see it already.

Speaker 5: We believe that games are leading the way and other verticals will follow, and we are starting to see it already.

Speaker 5: Our platform-based approach is relevant to the whole app economy, and many of our UI and monetization tools are relevant for apps beyond games.

Our platform based approach is relevant to the hall at the corner and menu of all Iulian monetization tools are relevant for X beyond gains as well.

Speaker 5: In terms of revenue, as we mentioned before, around 10% of our sonic sales and almost all of our over-sales come from apps beyond games.

In terms of revenue as we mentioned before around 10% of our Sonic sales in almost all of the lower sales come from apps beyond gaming.

Speaker 5: As Tomer mentioned, the way to think about this is to look at where the game industry was 5-6 years ago, before ad monetization really took off, when developers started using ads that functioned like an integral part of the game experience, almost like microtransactions.

As Tom mentioned the way to think about it is to look at where the game industry was five six years ago before monetization really took off when developers started using ed that function like an integral part of the game almost like micro convictions developers, we're able to generate.

Speaker 5: Developers were able to generate meaningful additional revenue.

For additional revenue like the lighting and rewarding users and revenue became a significant revenue stream, which ended up enabling the growth of the entire category play providing more funds to invest in needle coke.

Speaker 5: while delighting and rewarding users. Ad revenue became a significant revenue stream, which ended up enabling the growth of the entire category by providing more funds to invest in user growth.

Speaker 5: We believe that it's just a matter of time for this to occur in the world of X beyond games as well.

We believe that he just to make it a little time for these to all killing the world beyond games as well.

Speaker 5: A significant portion of Tapjoy and Bidalgo's revenue came from apps beyond games, including social networks, e-commerce, and dating, which we expect will deepen our market penetration in this category. Even though we are still in the early days, apps beyond games are an important growth factor in an expanded $50 billion long-term TAM, which we discussed earlier.

A significant portion of cat NB Douglas revenue.

K form X beyond games, including social networks E Commerce, and dating which we expect will deepen our market penetration in this category.

Even though we are still in the early days.

Games are an important book liability.

Then that 50 billion long term Tam, which we discussed earlier.

Speaker 5: With regard to the second part of your question on how we might compete with omni-channel SSPs, our mediation is designed for apps and their specific needs, including the unique support of ad types that are deeply embedded in the apps themselves and require different product and tech capabilities compared to web-based traditional SSPs.

With regard to the second part of your question on how we might compete omni channel. Its been elimination is designed for X and their specific needs, including the uniques that both of the deeply embedded in DFS in silver and I quote a decent quarter can take capability compared to web based traditional.

Yes.

Speaker 5: So we don't see our own source competing all that much with traditional omni-channel.

So we don't see I don't want so competing all that much with traditional omnichannel SSP.

With that we will now open the call to your questions. Operator, Please open the call.

Speaker 5: With that, we will now open the call to your questions. Operator, please open the call.

Speaker 2: Thank you for our Q&A. If you would like to ask a question, please press star followed by 1 on your telephone keypad now. If you change your mind, please press star followed by 2.

Thank you for our Q&A, if you would like to ask a question. Please press star followed by one on a telephone keypad now if you change your mind. Please press star followed by Tim.

Speaker 2: When preparing to ask your question, please ensure your phone is unmuted.

When preparing to ask a question. Please ensure your phone is on mute locally.

Speaker 2: Our first question comes from Bhavan Suri from William Blair. Bhavan, please go ahead.

Our first question comes from Papon's hearing from William Blair Pavan. Please go ahead.

Speaker 6: Thanks for taking my question, and congrats on a great year, great start as a public company, and a great quarter. I wanted to follow up on one of the questions that was asked a little earlier around this concept of consolidation of studios impacting contextual capabilities.

Thanks for taking my question and congrats on a great year, a great start as a public company and a great quarter.

I wanted to follow up on one of the questions that was asked a little earlier.

Around this concept of consolidation of studios impacting consent contextual capabilities.

Speaker 6: I guess scale obviously wins here, but I'd love to understand, Tomer, are you seeing any broader shift of emphasis from the studios here? Is there a dynamic where data aggregation becomes more complex, which then places more emphasis on external sources, which then is a net benefit to you? Are you starting to see that trend as the aggregation plays out, or is it still too early to see that benefit you directly as the studios start to understand the value of the contextual data outside of first-party data? Help us think through that a little bit.

I guess, yeah, obviously wins here lumpiness downtime or are you seeing any broader shift of emphasis from our studios here.

That dynamic what did aggregation becomes more complex, which then places more emphasis on external sources, which then doesn't that benefit are you starting to see that trend as the aggregation plays out or is it still too early to see that benefit you directly as the studios start to understand the value of the contextual data outside of first party data help us think through that a little bit.

Hi, Bhavan, Thank you and great to hear from you again.

Speaker 4: The way we look at it is, and I've referred to that in previous calls, it's not just about the amount of data.

The way, we look at it is and and I've referred to that in previous calls it's not just about the amount of data you have but also how diversified is and from how many sources you can collect the data.

Speaker 4: but also how diversified it is and from how many sources you can collect.

Speaker 4: As we said also in the script today, we...

As we said both in discrete today, we we got our data from our SDK, we got our device level data, we got our first party data and eventually breaks down to what you can do with all these data how advance your machine algorithms or how you deal with <unk>.

Speaker 4: got our data from our SDK, we got our device level data, we got our first party data, and eventually it breaks down to what you can do with all this data, how advanced your machine algorithms are, how you deal with this tremendous amount of data.

And this amount of data so I think that today it's at.

Speaker 4: So I think that today it's fair to say, given our results and how we've been growing and also the trajectory that we see ahead, that we know how to incorporate all this data coming from multiple sources and take advantage of that so that we can prepare the models and the machine learning to be best in class.

FERC to say given our results and how we've been growing and also the trajectory that we see ahead that.

We know how to incorporate all these data coming from multiple sources in and take advantage of that so that we can prepare the models and the machine learning to be best in class I see the consolidation in the market today.

Speaker 4: I see the consolidation in the market today, I see the category growing all around. That will create an additional amount of data flowing in, both first-party data, third-party data, and I feel that our platform is very, very ready to outperform this environment that has so much data coming from so many different sources.

I see the category growing all around that will create an additional amount of data.

Data flowing in both first party data third party data and I feel that our platform is very very ready to outflow falling this environment that has so much data coming from so many different sources.

Got it got it that's helpful. And then one quick follow up on me.

Speaker 6: Got it. Got it. That's helpful. And then one quick follow-up on me on.

Speaker 6: acquisitions and how they're layering into net dollar attention rates. You know, you have a really high net dollar attention rate. You've always said, you know, it's not sustainable because we're growing scale, etc., which makes sense. But as you look at the acquisitions, it'd be great to understand

<unk>.

<unk> and how they are layering into net dollar retention rates you have.

A really high net dollar retention rate.

We've always said you know, it's not sustainable because we're growing scale et cetera, which makes sense, but as you look at the acquisition that would be great to understand how the acquisition cross sell might contribute to the NDA or our momentum sort of how do we think about normalized <unk> given acquisitions and cross all the acquisitions into the existing base. Some color there would be very helpful.

Speaker 6: how the acquisition cross-sell might contribute to the NDRR momentum, sort of, you know, how do we think about normalized ARR given acquisitions and cross-sell the acquisitions into the existing base? Some color there would be very helpful. Thank you.

Thank you.

Speaker 4: Sure. I will start, Asaf, if you have anything to add, please feel free. We've, we've, we maintain consistent with our previous guidance that we believe our net dollar base expansion rate will normalize eventually at the historical 150%.

Sure I will start the Sophia if you have anything.

Anything to add please feel free.

We've.

We maintained consistent with our previous guidance that we believed our net dollar based expansion rate will normalize eventually.

These turrical 150%.

Speaker 4: And additional acquisitions and additional products released might increase that in the future, but eventually we will stabilize at the 150% which we've seen in the past.

And additional acquisitions and additional products release might increase that in the in the future, but eventually we will stabilize at the 150%, which we've seen in the past.

Gotcha Gotcha, Thanks, guys I appreciate it and thanks for taking my question.

Speaker 6: Gotcha, gotcha. Thanks guys. I appreciate it. Thanks for taking my question.

Speaker 2: Our next question comes from Colin Sebastian from Baird. Colin, please go ahead.

Our next question comes from Colin Sebastian from Baird. Colin. Please go ahead.

Speaker 7: Thanks, good morning everybody, good afternoon. Question on Supersonic, I guess just given the success you're having with game publishing, I mean how important is that as part of the platform?

Thanks, Good morning, everybody good afternoon.

Question on supersonic I guess, just given the success, you're having with game publishing how important is that as part of our platform.

Speaker 7: that could be a pretty significant growth driver, not just what we've seen in the past year, but going forward, and what's your capacity there to layer on additional growth. And then secondly, as Google now begins to move down the same, or somewhat same, privacy path as Apple did last year, do you see that as having a similar positive impact for ad

I think thats pretty significant growth drivers not just.

As seen in the past year, but but going forward and whats your capacity there to layer on additional growth and then and then secondly, as Google now begins to move down the same or similar thing privacy tap of the Applegate last year.

See that as having a similar positive impact for App that works.

Platforms like dinosaurs.

Yeah.

Speaker 5: Yeah, so thank you for the question. This is Omer. I'll take that.

Yeah. So thank you for the question. This is Omar I'll take that and so so first of all the aim of publishing solution might supersonic ease is growing at a similar pace to the auto Sonic solution in the platform and keeping the same proportion in terms of overall revenue contribution and we launched <unk>.

Speaker 5: And so, so first of all, our publishing solution, right? Supersonic.

Speaker 5: is growing at a similar pace to the other sonic solution in the platform and keeping the same proportion in terms of overall revenue contribution. We launched this activity in February 2020 and we've seen, like you said, great success with it. In 2021, 26 games were published using our product.

TVT in February 2020, and we've seen like you said great success with it in 2021 'twenty six games will publish it was published using our product 16 of them willing to top 10, most downloaded games. This game list and you will also the sale of the biggest game publisher in the U S. If you look into 2021 please.

Speaker 5: 16 of them were in the top 10 most downloaded game lists and we were also the third biggest game publisher in the U.S. if you're looking at 2021 holistically.

Speaker 5: And since the inception of Supersonic, the games that they published using our product have seen around 1.7 billion downloads.

And since the inception of supersonic the games that they published using our product have seen around one 7 billion downloads night, which is which is obviously a very strong and continue to grow regarding Google. So we have a little bit of course, it's still early days, but we in general we.

Speaker 5: which is obviously very strong and continues to grow. Regarding Google.

Speaker 5: So we are aware of it, of course. It's still early days. But we, in general, we support all privacy-related changes. We believe that similar to other privacy-related changes, like the deprecation of IDFA, like what we've seen even before, like GDPR and COPPA, that will be net beneficiaries of changes like this. And this is primarily due to our targeting module and machine learning capabilities, which we discussed previously on our call.

Ports, all privacy related changes, we believe that similar to ideal privacy related changes like that application of idea Fe like what we've seen even before like a GDP alien cold box that will be net beneficiaries of changes like this and this is primarily due to all the targeting module and machine learning capabilities, which we disk.

<unk> previously on our calls.

Great. Thank you.

Speaker 2: Our next question comes from Matthew Cost from Morgan Stanley . Matthew, your line is now open.

Our next question comes from Matthew cost from Morgan Stanley Matthew Your line is now open.

Speaker 8: Hi everyone, thanks for taking the question. You talked a lot about how the integration of Tapjoy and Bidalgo are going. I guess when you look forward, are there any key capabilities for the ad network or on the telco side that you see that you need to build either organically and inorganically, and where are your top priorities on that front? Thanks.

Hi, everyone and thanks for taking the question.

You talked a lot about how the integration of cap Joy and <unk> are going I guess when you look forward are there any key capabilities.

For the AD network or on the telco side that you see that you either you need to build either organically and inorganically and you're aware of your top priorities on that front. Thanks.

Speaker 4: Sure. Hi Nati. Thanks for the question. So the way we run the business is very unique and it's our platform approach to the app economy. As you said, as you pointed out, our platform addresses the two core constituents, the app developers and the telcos with Sonic and Aura.

Sure Hi, <unk>. Thanks for the question. So the way we run the business, it's a very unique and eats our platform approach to the App economy. As you said as you pointed out our platform addresses the two core constituents the abdel person to telcos wheat, Sonic and aura.

Speaker 4: And we intend to continue adding, as we've done in 2021, with both organically and non-organically, we plan to continue adding additional solutions to the platform to better serve the constituents of the platform.

And we intend to continue adding as we've done in 2021 with both organically and Inorganically. We plan to continue adding additional solutions to the platform to better serve the constituents of the platform those would be additional solutions to help up developers.

Speaker 4: Those would be additional solutions to help app developers concentrate in creating great apps, great games, great content, while using us to help them take that and transform it into a business, scalable, successful business.

Concentrate in creating great ops, great games, great content, while using us to help them take that and transform it into a business scalable successful business.

Speaker 4: And of course, on the Aura side, we will continue to add additional solutions to the platform to better help telecom operators better engage with their users and be more successful in their digital transformation. So we are very focused organically and non-organically in adding those solutions.

And of course on the Euro side, we will continue to add additional solutions to the platform to better help a telecom operators better engage with our users and be more successful in their digital transformation. So we're very focused organically inorganically in adding those solutions I cannot say.

Speaker 4: I cannot say that there is one solution or two solutions that are missing in the platform. We constantly keep evolving, we constantly keep tracking what are the key needs of those developers as they develop and as their market develops.

There is one.

A a one solution or two solutions that are missing in the platform. We constantly keep evolving we constantly keep tracking what are the key needs of those developers as they develop printers <unk> market develops and we are consistently going to add those solutions again organically.

Speaker 4: And we're consistently going to add those solutions, again, organically and non-organically, and further consolidate the market around us in the two solution suites, Aura and Sonic.

Organically and further consolidate the market around us.

In the two solution suites, Ora and Sony.

Great. Thank you.

Speaker 2: We now turn to Martin Yang from Oppenheimer. Martin, please go ahead.

We now turn to Martin Young from open Hymer Martin. Please go ahead.

Hi, Good afternoon. Good morning, Thank you for taking my question.

Speaker 6: My question is on the 2022 guidance. Can it maybe help us unpack the numbers a little bit? How much is contributed by TAPJOY and some of the more recent acquisitions? And a follow-up on that is, you know, what are the source of margin expansion between the first quarter guidance and the rest of the year?

My question is on the 2022 guidance can you maybe help us unpack the numbers look a bit how much is contributed by tap Choi.

The more recent acquisitions and.

Follow up on that as well.

What are the source of margin expansion.

The first quarter guidance and the rest of the year. Thank you.

Speaker 4: Sure. Hi, Martin, I thought I would start. Please, please add to to to my things if if needed.

Sure Hi, Martin.

Jeff I will start please please add to to my things, even if needed we will some working we as we previously said also we we measure and we run the company as the full platform, we do not break down the different elements of the platform simply because this is not the way we look at.

Speaker 4: We, we, so Martin, we, as we previously said also, we.

Speaker 4: We measure and we run the company as the full platform. We do not break down the different elements of the platform simply because this is not the way we look at the business, and we're not the way we look at the market.

At the business not the way we look at the market. There is a flywheel effect every time, we add an additional solution it contributes to the revenues to the to.

Speaker 4: There is a flywheel effect. Every time we add an additional solution, it contributes to the revenues, to the impact all other solutions of the platform has, because as I said earlier, typically a customer will start working with us with one or two solutions, and over time they will expand and use multiple solutions in the platform, both on the Sonic and the Aura side.

Two the impact all other solutions of the platform has because as I said earlier typically a customer will start working with us with one or two solutions and over time, they will expand and use multiple solutions in the platform both on the Sonic and RF side. So.

Speaker 4: So we cannot really measure the effect of one solution, because, again, it's a holistic effect, and that's the nature of the platform approach that

We cannot really measure the effect of one solution because again, its an elastic effect and that's the nature of the platform approach that.

We take we're very excited about the additional opportunities that Doug Julien <unk> and few other organic solutions that we added to the platform to continue accelerating our growth and our impact on the overall market, but we do not measure the the solutions.

Speaker 4: We're very excited about the additional opportunities that Tapjoy and Vidalgo and a few other organic solutions that we added to the platform to continue accelerating our growth and our impact on the overall market. But we do not measure the solutions discreetly.

Discretely.

Speaker 4: That was for the first part. Martin, can you please remind me the second half of the question?

That was for the first but can you. Please Martin can you. Please remind me the second half of the question.

Speaker 6: Sure. The driver for margin expansion, so you have a 32% EBITDA margin guidance for one Q, but higher for the whole year. So, what are the sources of our margin expansion for the year?

Sure the driver for margin expansion. So you have a.

30 to 42, 2% EBITDA margin guidance for <unk>, but higher for the whole year. So what's what are the sorts of op margin expansion for the year.

A Saturday you want to take that one.

Yes, sure I will take it at the midpoint, we're growing from 31% in the first quarter and do we expect 32% the midpoint for the year.

Speaker 1: Yeah, sure, I will take it. Yeah, at the midpoint, we're growing from 31% in the first quarter, and we expect 32% at the midpoint for the year.

Speaker 1: And, Martin, we integrated four companies, new companies, that this will be the first year. And at the beginning, of course, they have a bit different financial profile from the iron source. It takes a bit of time to consolidate everything and to find the strategic synergies. And this is the main explanation for the increase.

And Martin we integrated full companies new companies that this will be the first year and at the beginning of course, they have a bit different financial both on the island. So it's they can be time to consolidate everything and to find the strategic synergies.

This is the main explanation from the increased.

Thank you.

Our next question comes from Franco Granda from D. A Davidson Franco. Please go ahead.

Speaker 2: Our next question comes from Franco Granda from D.A. Davidson. Franco, please go ahead.

Speaker 3: Good morning, everyone. Thanks for letting me ask a question here. I was hoping, Tomer, you could speak about the features that you added to Aura in 4Q and perhaps over the year. And I was hoping you could also give me your thoughts on what has been the main driver of competitive displacement of the RSI in the business. And then have a follow-up, thanks.

Good morning, everyone and thanks for letting me ask a question here.

I was hoping you could speak about the features that you added to Ara and <unk> and perhaps over the year.

And I was hoping you could also give me your thoughts on what has been the main driver of competitive displacements of the RSA business.

And then I have a follow up thanks.

Hi, Frankel with sure Hi, Franco.

Although no one that was if you take this one.

Speaker 5: Yeah, hi, Franco, this is Arnon. So you were asking about what drives the growth in terms of aura, what kind of.

Yeah, Hi, Frank this is a non so.

You were asking about what drives the growth and in terms of of.

Of aura, what kind of features and products are.

Speaker 5: driving growth, that was the question? Correct. Yeah, so if you could speak to the features that you added in the fourth quarter and then perhaps what your thoughts are on what the main drivers behind the competitive displacements that you've recently been seeing.

Driving growth that was the question correct, yes. So as expected. The features that you added in the fourth quarter and then perhaps what your thoughts are on what the main drivers behind the competitive displacements is recently been saying.

Speaker 5: Again, I'm sorry, what do you mean by competitive displacement, meaning what makes customers work with us instead of our competitors?

Again, I'm, sorry, I budget, what does what do you mean by competitive displacement, meaning what makes customers work with us that of our competitors.

Speaker 8: Yeah, correct. So your customer wins against your competitors.

Yeah, correct I see I see.

More wins against your competitors.

Speaker 5: Yeah, OK. So again, like you said, we are constantly winning telcos business. And again, this is because of our approach to solving telcos, we think, main challenge in the app economy. And I wanted for a second to kind of zoom out and think about our mobile device experience. So if you look at our mobile device experience, obviously, you need a device.

Yeah, Yeah. Okay. So again like you said we have.

We will constantly winning telcos business and again this is because of our approach to solving.

<unk> we.

We think main challenge in the App economy, and I wanted for a second to kind of zoom out and think about our mobile device experience right. So if you look at our mobile device experience, obviously, you need a device right and you have great device manufacturers building great devices, you need an operating system, we have apple and Google that providing this operating system and also providing.

Speaker 5: and you have great device manufacturers building great devices. You need an operating system. We have Apple and Google that are providing this operating system and also providing the app stores. And then we, to have a mobile device experience, you also need the telcos that are providing, you know, this great value that is connectivity. But telcos do not have

Gap stores and then we.

You have a mobile device experience you also need to telcos that are providing great value that is connectivity, but telcos do not have a single solution to help them really engage with users on device and this is what we're building and this is what we're solving.

Speaker 5: single solution to help them really engage with users on device and this is what we're building, this is what we're solving for telcos. Really, a platform approach for telcos, a single solution that allows them to engage with their users throughout the life cycle of the device and this is very unique and something that we're very proud of.

Four telcos really a platform approach for telcos single solution that allows them to engage with their users throughout the lifecycle of the device and this is very unique.

And something that we're very proud of.

And.

Speaker 5: Tomer, I think, mentioned this, you know, we're providing tools to help them promote applications. So, we started with the out-of-the-box experience that when you first open the device, it allows you to...

Tomorrow I think mentioned this we're providing tools to help them promote applications. So we started with the out of the box experience that when you first opened the device. It allows you to.

Speaker 5: install and engage with applications and services. We recently launched a news experience. This is one of our Q4 launches. A news experience that allows telcos users to engage with content.

Install and engage with applications and services, we've recently launched and user experience. This is one of our Q4 launches and user experience that allows.

Telcos users to engage with content.

Games.

Speaker 5: news, financial news, sports, et cetera, on device, again, through the solution that is provided through Aura. And we are starting to launch also products around digital transformation and really allowing telcos to promote their owned and operated services.

News financial news sports, etc. On device again through the solution that is provided through aura and we are starting to launch also products around digital transformation and really allowing telcos to promote their owned and operated services on.

Speaker 5: on-device through our Aura solution. And again, if you think about it, every digital transformation strategy needs an on-device touchpoint, and we plan for that to be an iron source Aura, really allowing telcos to do everything that they do in-store, on-device.

On device to the to the oral solution and again, if you think about it every digital transformation strategy needs and on device touch point and we plan for that to be a iron source aura really allowing telcos to do everything that they do in store.

On device through the oral solution. So these are our kind of.

Speaker 5: through the Aura solution. So these are our kind of growth drivers for Q4, for 2021, and we'll continue to grow and.

Growth drivers for Q4 for 2021 and will continue to grow and drive more growth in 2022 and onwards and I think this is also the main reason why we're consistently winning rfps and adding and adding additional customers. We just announced we can't say the names yet, but we won.

Speaker 5: drive more growth in 2022 and onwards. And I think this is also the main reason why we're consistently winning RFPs and adding additional customers. We just announced, we can't say the names yet, but we won two tier one telcos and it's gonna ramp up in Q2 and onwards. And I think we're gonna also have additional announcements for additional customers.

<unk> tier one telcos and it's going to ramp up in Q2 and onwards, and I think we're going to also have additional announcements for additional customers.

Speaker 3: Thanks for all the details there. Then for my next one, it seems like your supersonic business continues to be on fire. As I said, from grabbing revenues for you, you are also able to extract the first-party data to benefit the broader sonic platform. So to that end, how much more granular is the data you are able to obtain and leverage from the apps you are publishing versus the apps that you only have SDK presence in?

Alright, Thanks for all the details there and then for my next one.

Like your supersonic business continues to kind of fire.

I said from grabbing revenues for you you all samples to extract this first party data to benefit with a broader platform.

So to that end how much more granular data you are able to obtain leverage from the astral publishing versus the apps that you only have SDK presence there.

Speaker 9: Yeah, so I'll take that. Thank you for the question. When you're in an SDK, you also have, and like Thomas said, we have multiple channels where we're getting our data from. We have the SDK, which is one of the most widely spread SDKs in the world. We have the device level data from Aura. And we have, like you said, first party data from Supersonic.

Yeah, So I'll I'll take that thank you for the question am I when when you're when you're in a in an SDK right. You also have in like in Natomas said, we have multiple channels, where we're getting a the data flow we have the SDK, which is one of the most widely split it is the case.

In the World, we have the device level data form Ora light and we have like you said it was buddy data form supersonic in in general it's the combination of the three that actually gives us a very strong.

Speaker 9: In general, it's the combination of the three that actually gives us a very strong data set that's flowing into our machine learning capability.

A data set that's flowing into our machine learning capabilities I think is when in your first party data you can you can understand how users are moving from one game to another but it's it's really the combination it's not about the specific value of first party data. It's when you have debt and U S D SDK and USDA.

Speaker 9: I think in your first party data, you can understand how users are moving from one game to another, but it's really the combination. It's not about the specific value of first party data. It's when you have that and you have the SDK and you have the device, this is what really gives us a true edge when looking at our data capabilities and the data that's feeding our machine learning algorithms.

This is what really gives us two edge when looking at our data capabilities and in the data that that's feeding all machine learning algorithms.

I appreciate all the color. Thanks.

Speaker 2: We now turn to Stephen Jew from Credit Suisse. Stephen, your line is now open.

We now turn to Stephen Ju from Credit Suisse. Steven Your line is now open.

Speaker 10: All right. Thank you so much. So, Tomer, I think you raised a pretty interesting point on your prepared remarks in terms of, historically, advertising has always been a key source of revenue for game developers. And that monetization tactic is now becoming more prevalent outside the mobile game sector. So as a follow-up to one of the earlier questions, can you talk about the relative level of difference you may be seeing in terms of advertising as a percentage of revenue for game developers versus others?

Alright. Thank you. So about so Tom are you raised a pretty interesting quite on your prepared remarks, and tourists, who historically and advertising has always been a sort of a key source of revenue for game developers in that monetization tactics that are becoming more prevalent.

Outside of the mobile game sector. So as a follow up to one of the earlier questions can you talk about the relative level of.

Difference you may be seeing in terms of advertising as a percentage of revenue for game developers versus others.

Speaker 11: so we can get an idea of what the incremental opportunity could be for you. And, you know, from a practical...

So we can get an idea of what the opportunity could be for you.

From a practical.

Speaker 11: product development point of view, how much heavy lifting do you think non-game developers need to do to incorporate a greater amount of advertising into the overall app design philosophy? Thanks.

Development point of view.

How much heavy lifting do you think non game developers need to do to incorporate a greater amount of advertising into the overall app design philosophy.

Yeah. So so I'll I'll I'll start it's a it's omer.

Speaker 9: I think when you're looking at the opportunity of ads in apps beyond games, I think that you need to kind of define that into…

So I think it wouldn't when youre looking at the opportunity, we'll say ads in <unk> beyond gains are you seeing that you need to kind of define that into two decent opportunity. The first one is let's call. It more of the traditional advertising. This is something that they're doing today will do showing a display.

Speaker 9: two different opportunities. The first one is, let's call it more of the traditional advertising. This is something that they're doing today, where they're showing a display ad, and it's a, I wouldn't say it's huge, but it's a, we don't, we don't have a formal estimation of the exact number, but it's a substantial part of their business of Epsilon Games showing, let's call it more of an inept traditional advertising, and we see that

<unk> adds and he'd say I wouldn't say, it's it's huge but it is we don't we don't deal with form an estimation of the exact number but it just eaten a substantial part of their business that they are doing games showing its called its more of an inept traditional advertising and we see that as an opportunity as well and on the product level. We support every single.

Speaker 9: as an opportunity as well, and on the product level, we support everything around that. Basically we have it already. It's mainly around business execution, and it's already roughly around 10% of our sonic revenues is already generated by FBOnGames, and we think it's only the beginning.

That basically basically we have it already it's mainly around business execution and I'd say, its all where do you roughly around 10% of our Sonic revenues is already generated by S. Beyond games, and we think it's only the beginning so that's one part the other part which is even more exciting he's really taking E D.

Speaker 9: The other part, which is even more exciting, is really taking in the rewarded mechanism, right? The engine that was added into games several years ago, that it's not really like interaction with ads. It's more...

D rewarded macanese and ride. These the engine that was added into gain several years ago that it's not really it's not really like interaction with edge. It's small.

Speaker 9: I'm looking at ads and offering users basically an alternative payment model by interacting with a very relevant ad, right? You can think of it as kind of like nano-transactions or micro-transactions, right? Instead of now paying...

I'm looking at AIDS in offering users basically an alternative payment model by interacting with a very relevant and like you can think of it as kind of like nano transactions will Mike look one zika like instead of now paying full accountancy for something in the game I am interacting with a relevant AD and then getting that currency. So it's.

Speaker 9: for a currency for something in the game, I'm interacting with a relevant ad and I'm getting that currency, so it's an alternative payment. And that's something that really disrupted the mobile games industry a few years ago and really fueled the growth that we're seeing. And that is really being rarely used today in Epstein games. And we think that that's a huge opportunity because every transactional app out there

A tenant lease payment and that is something that's really aimed disrupted the mobile games industry. If you used to go and really fueled the globe that will scene and that has really been readily used today in XD on games, and we think that that's a huge opportunity because every transactional it out there.

It can also will fill that kind of module to the users and it will be a win win win for everybody right, and we and especially vis tap joy and with our board that we seeing that we are really really well positioned to be a leader in that and Luca. This is a very exciting growth opportunity ahead.

Speaker 9: can also offer that kind of module to the users, and it will be a win-win-win for everybody.

Speaker 9: And especially with Tapjoy and with our product, we think that we are really, really well positioned to be a leader in that, and look at this as a very exciting growth opportunity ahead.

Okay.

Thank you.

Speaker 2: We've come to the end of our Q&A. I will now hand back to Daniel O'Meara for any final remarks.

We've come to the end of our Q&A I will now hand back to Daniel Amir for any final remarks.

Thank you all for dialing in today, we're looking forward to being in touch with you and have a good day goodbye.

Speaker 12: Thank you all for dialing in today. We're looking forward to being in touch with you and have a good day. Goodbye.

Speaker 2: This concludes today's call. We thank you for joining. You may now disconnect your lines.

This concludes today's call. We thank you for joining you may now disconnect your lines.

Speaker 13: The.

Yeah.

[music].

[music].

Okay.