AFFLE 3I LIMITED

Operates an AI-driven mobile advertising platform built around a Cost Per Converted User (CPCU) model, where advertisers pay only when a defined user action — typically an app install — occurs. In Q4 FY2026, the platform recorded 120.3 million conversions at a CPCU rate of INR 60.0, generating CPCU revenue of INR 7.21 billion. Roughly 75% of revenue comes directly from advertisers, with India and Emerging Markets contributing 71.6% of Q4 revenue and Developed Markets 28.4%. The business splits into a Consumer Platform, which handles mobile user acquisition and ad monetisation for app advertisers (98.2% of segment revenue per the latest segment disclosure), and an Enterprise Platform (1.8% of segment revenue) serving enterprise clients. FY2026 revenue reached ₹27.1 billion (+19.5% year-on-year), with EBITDA of ₹6.1 billion at a 22.5% margin — the 13th consecutive quarter of sequential growth. Operating costs are dominated by 'other operating expenses' at 68.2% of revenue, with employee costs at 9.3% and depreciation at 4.6%. The company holds 18 granted patents covering fraud detection and human versus non-human traffic filtration, and in June 2026 signed a deal to acquire AdColony assets from Digital Turbine to expand global mobile publisher reach.