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Software Platform revenue increased 28% year-over-year to $406M, representing a quarterly record. The growth was driven by the rollout of the AI advancements to AXON, which drove higher installs and revenue per install from Q1, paired with improved returns for advertisers.
Meanwhile, Apps revenue fell 25% year-over-year to $344M, due primarily to a decline in In-App Purchase revenue.
For Q3/23, the company expects revenue in the range of $780-$800M, above the consensus estimate of $741.41M. Adjusted EBITDA is seen at $340-$360M.
By Davit Kirakosyan
