Omar Dessouky

Adam said the model is few-larger-advertisers today, mid-market first by design with the long tail broadening as data compounds; declined to give hard onboarding counts. Partial on specifics.

Adam confirmed no slowdown in gaming growth, noted 20-30% long-term target consistently exceeded. Pivoted to GPU discussion but Omar noted run rate question was not fully quantified.

Adam argued AI-driven content explosion benefits discovery platforms like AppLovin. Casual gaming audience skews older and female, unlikely to shift to chatbots. More content means more need for discovery and monetization.

Adam said diverse ad content improves user retention and unlocks IAP-focused publishers who avoided running competitor gaming ads.

Adam confirmed conversion rate improvement is the primary growth lever, driven by model enhancements, advertiser density, and generative AI creative.

Adam dismissed the competitive threat, noting APP's market penetration is materially higher than 70% with deep behavioral data from publisher and advertiser integration.

Adam disclosed sub-3% churn for $250K+ run-rate advertisers, noting gaming has basically no churn and web product should reach the same level.

Matt clarified ecommerce revenue is included in the metric but install volume stays CPI-only, mechanically lifting net revenue per install.

Adam confirmed Pixel works for website advertisers now; non-gaming app install advertising requires additional work and is on 2025+ roadmap.

Chopra declined to provide Q4/full-year guardrails or confirm 2026 bookings would exceed 2025, citing many moving pieces across discovery, safety, build and moments.

Chopra said DAU weakness is top-of-funnel sign-ups (comms friction, app-store organic) plus ~4M from the Russia block; retention held, so growth should return.

Chopra said dilution is managed on a long-term horizon and expected to decline as operating results create shareholder value, despite share-price swings.

Baszucki said Roblox already does modest paid acquisition and sees a large opportunity to co-fund creator paid acquisition; Chopra called growth marketing modest.

Baszucki framed a genre-by-genre internal model driving to 10% share, citing Battle Royale and 3D streaming; substantive but no quantified timeline.

Strauss navigated the pricing question carefully, emphasizing games are a better value in real terms while noting the priority is delivering best entertainment on favorable terms. Declined to guide on specific pricing.

Lainie cited consistent RCS growth track record and successful learnings being applied to NBA 2K27 strategy. Noted Visual Concepts continues making the game bigger and better each year rather than resting on laurels.

Karl emphasized DTC is primarily internally driven. Noted not all large games have DTC components yet but all could eventually. Declined to comment on third-party solutions specifically but confirmed the legislative environment is favorable.

Strauss declined to quantify attach rates but highlighted nearly a billion consumer records for targeted marketing and emphasized focus on execution over outcome predictions.

Management said most game advertisers already engage and reach out as returns improve; direct.

Management said it would prioritize revenue growth over cloud-cost optimization near term; direct.

Von Ahn said the real constraints are marketing infrastructure and an excellent free tier, not product stability or immaturity; direct.