What happened
In Q3 2026, ad tech earnings revealed a stark divide: AppLovin and Unity posted strong growth, while Criteo, Taboola, and Teads saw revenue declines. AppLovin's revenue rose 55% to $2.19 billion, with net income up 72% to $1.44 billion, and its revenue alone surpassed the combined revenue of the other five companies. Unity's revenue grew 32% to $622 million, with its Vector ad platform surging 126% year-over-year. Magnite reported a 14% revenue increase to $204.2 million, driven by CTV growth. Conversely, Criteo's revenue fell 11% to $416 million, Taboola declined 6.9% to $462.3 million, and Teads dropped 26% to $235.1 million. CTV remained a bright spot for Magnite and Teads, but was insufficient to offset broader declines. The results highlight the ongoing shift toward mobile and CTV, while the open web struggles.
Key facts & figures
- ·AppLovin's Q3 revenue rose 55% to $2.19 billion, with net income of $1.44 billion, up 72% year-over-year.
- ·Unity reported Q3 revenue of $622 million, up 32%, with its Vector ad platform growing 126% year-over-year.
- ·Criteo's Q3 revenue fell 11% to $416 million, with contribution ex-TAC down 17% to $240 million.
- ·Taboola's Q3 revenue declined 6.9% to $462.3 million, but gross profit rose 9.6% to $152.3 million.
- ·Teads reported a 26% revenue decline to $235.1 million and a net loss of $325.5 million.
Key questions for investors and operators
When evaluating transactions, technology stacks, or commercial partnerships in this space, we recommend looking closely at three questions:
Companies & platforms involved
AppLovin reported $2.19 billion in third-quarter revenue, up 55% year over year, alongside net income of $1.44 billion.
Unity reported revenue of $622 million, up 32%, with the Grow Solutions division generating $457 million.
Criteo reported Q3 revenue of $416 million, down 11%.
Taboola reported revenue of $462.3 million, down 6.9%.
Teads recorded a revenue decline of 26% to $235.1 million.