APP Follow-up and Other Ideas
Key Points
- APP beat earnings with strong AXON 2 rollout driving sequential growth
- Trading at ~8x 2023 EBITDA and 7x 2024 EBITDA—still attractive valuation
- Software segment expected to grow 30%+ YoY; ad-tech platform sustainable 20%+ growth
- Google adoption of external mediation products (MAX) creates ecosystem upside
Source
- File:
APP Follow-up, and Other Ideas - by Doug O'Laughlin.pdf - Path:
APP/APP Follow-up, and Other Ideas - by Doug O'Laughlin.pdf
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