Marketplace Strength Driving Momentum AppLovin's integrated marketplace continues to deliver strong results. Its MAX platform, paired with Axon 2.0 AI enhancements, is improving bid density and advertiser matching. This has translated into solid operating momentum through late 2025, with management expressing confidence in continued sequential growth into early 2026 despite typical seasonal softness. A major long-term opportunity lies in improving conversion rates. Management believes these can gradually mo ...