AppLovin, a prominent analyst, believes that the company's push into e-commerce advertising is working and could lead to a significant growth in the company. The company, which focuses on mobile gaming, has grown its revenue from $1.45 billion in 2020 to $5.48 billion in 2025 and reported an adjusted EBITDA margin of 84% last year. However, Bank of America has revised its stock forecast for the company, stating that around 2,000 new advertisers will go live on AppLovins' platform in Q1, fueled in part by the company’s referral-based self-service launch in Q4 2025. The growth of this growth is expected to continue, with analysts predicting a rise in revenue to $17.34 billion in 2030.