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Private company

IronSource

Logo: IronSource, Public domain, via Wikimedia Commons5

Israeli digital advertising company

ironSource Ltd. was an Israeli software company that focused on developing technologies for app monetization and distribution, with its core products focused on the app economy. Among others, ironSource was chosen as one of the '20 hottest startups' in 2013 and was listed in the Wall Street Journal "Billion Dollar Startup Club".3 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

$553.5MRevenue, fiscal 20216
$59.8MNet income, fiscal 20216
2011Founded1
  • IndustryServices-Computer Processing & Data Preparation1
  • Headquartersתל אביב-יפו1
  • Websitewww.is.com
  • Listed onNew York Stock Exchange1
  • Incorporated inIsrael7
  • Business address121 Menachem Begin Street, Azrieli Sarona Tower, Tel Aviv, L3 -7
  • Filer categoryNon-accelerated filer, Emerging growth company7
  • Legal formLimited4
  • LEI254900BWEN02WCAXQV354
  • StatusActive4
  • LEI statusLapsed (not renewed)4
  • Registered addressDerech Menachem Begin 121, 6701318 Tel Aviv, Israel4
  • Registered withIsraeli Corporations Authority (Department of Justice), 5146436264

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ironSource Ltd. was an Israeli software company that focused on developing technologies for app monetization and distribution, with its core products focused on the app economy.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2021

83.9%Gross margin6
14.9%Operating margin6
10.8%Net margin6
66.9%Revenue growth, 20216
5.4%Return on equity6
$137.3MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2021

  • Cost of revenue16¢$89.2M
  • Research and development16¢$90.5M
  • Other costs53¢$293.3M
  • Income tax4¢$20.5M
  • Profit11¢$59.8M

Out of $553.5M in revenue.6

Where each dollar of operating cash went, fiscal 2021

  • Capital spending1¢$1.4M
  • Kept or used elsewhere99¢$137.3M

Out of $138.7M of cash from operations.6

Financial statements

Revenue6$553.5M in 2021+206% since 2019
0$200.0M$400.0M$600.0M2019: $181.1M$181.1M20192020: $331.5M$331.5M2020+83%2021: $553.5M$553.5M2021+67%
Gross profit6$464.2M in 2021+217% since 2019
0$200.0M$400.0M$600.0M2019: $146.5M$146.5M20192020: $273.7M$273.7M2020+87%2021: $464.2M$464.2M2021+70%
Operating income6$82.4M in 2021+90% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $43.3M$43.3M20192020: $74.1M$74.1M2020+71%2021: $82.4M$82.4M2021+11%
Net income6$59.8M in 2021−29% since 2019
0$25.0M$50.0M$75.0M$100.0M2019: $83.9M$83.9M20192020: $95.3M$95.3M2020+14%2021: $59.8M$59.8M2021−37%
Fiscal year2018201920202021
Revenue$181.1M6$331.5M6$553.5M6
Cost of revenue$34.7M6$57.8M6$89.2M6
Gross profit$146.5M6$273.7M6$464.2M6
Research and development$37.5M6$51.6M6$90.5M6
Operating expenses$381.9M6
Operating income$43.3M6$74.1M6$82.4M6
Income before tax$80.4M6
Income tax$7.8M6$10.9M6$20.5M6
Net income$83.9M6$95.3M6$59.8M6
Earnings per share$0.106$0.116$0.076
Earnings per share (diluted)$0.096$0.106$0.066
Shares (weighted, basic)832.1M shares6
Shares (weighted, diluted)911.1M shares6

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Corporate structure

IronSource sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of IronSource

  • Eyal Milrad Filed SC 13G/A on IronSource, latest Feb 14, 2023 (2 filings since Feb 14, 2022)
  • Itay Milrad Filed SC 13G/A on IronSource, latest Feb 14, 2023 (2 filings since Feb 14, 2022)
  • Roi Milrad Filed SC 13G/A on IronSource, latest Feb 14, 2023 (2 filings since Feb 14, 2022)
  • Tomer Bar-Zeev Filed SC 13G/A on IronSource, latest Feb 14, 2023 (2 filings since Feb 14, 2022)
  • Viola Ventures III, L.P. Filed SC 13G/A on IronSource, latest Feb 13, 2023 (2 filings since Feb 14, 2022)
  • CVC Capital Partners VII(A) L.P. Filed SC 13G/A on IronSource, latest Nov 17, 2022 (2 filings since Aug 16, 2022)
  • IronSource Tel Aviv, Israel

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What IronSource reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$46.6M6 Dec 31, 2021$42.7M6 Dec 31, 2020+9.1%
Accumulated depreciation$21.5M6 Dec 31, 2021$19.6M6 Dec 31, 2020+9.4%
Property and equipment, net$25.1M6 Dec 31, 2021$23.1M6 Dec 31, 2020+8.9%
Operating-lease assets (leased space)$34.1M6 Dec 31, 2021$36.8M6 Dec 31, 2020−7.2%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$778.3M6 Dec 31, 2021$200.7M6 Dec 31, 2020+287.8%
Long-term investments$20.0M6 Dec 31, 2021

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$240.3M6 Dec 31, 2021$79.2M6 Dec 31, 2020+203.6%
Intangible assets, net (excluding goodwill)$54.2M6 Dec 31, 2021$8.1M6 Dec 31, 2020+570.7%
Finite-lived intangibles, gross$73.4M6 Dec 31, 2021$20.7M6 Dec 31, 2020+254.7%
Accumulated amortization$19.2M6 Dec 31, 2021$12.6M6 Dec 31, 2020+52.3%
Finite-lived intangibles, net$54.2M6 Dec 31, 2021$8.1M6 Dec 31, 2020+570.7%

Stakes and holdings (Wikidata)

Things Wikidata records the company as owning, with the share when stated.1

The story

Founded in 2010 in Tel Aviv, ironSource provided platforms and tools for application developers including analytics, user monetization, conversion, acquisition and optimization for all devices.

In the first quarter of 2013, ironSource acquired Israeli advertising technology and network company AfterDownload Ltd. for $28 million to expand its integrated distribution, installation and value-building tools for software developers, publishers and advertisers.

In August 2013, Ironsource announced merger talks with advertising company Babylon, but the deal was called off after Babylon lost high-value contracts with Google and Yahoo due to violations.

In 2013, IronSource purchased browser add-on startup DealPly.

Also in August 2013, ironSource opened an office in San Francisco. In May 2014, they opened an office in Beijing, China. In April 2015, ironSource opened an office in the United Kingdom.

In Fall 2014, ironSource raised approximately $85 million from a group of international investors and acquired the mobile game studio Upopa. At this time, IronSource was considered a key company in Israel's 'Download Valley'.

In September 2015, ironSource merged Supersonic into its mobile operation for a price estimated to be $200 million. The new organization rebranded itself as ironSource.

In June 2016, ironSource announced the acquisition of Sequoia-backed video technology company StreamRail.

Read the full text

In August 2017, ironSource was reported to be "in advanced talks" to be bought for $1.8 billion by a consortium of investment funds.

In October 2019, CVC Capital Partners acquired a minority stake in ironSource for over $400 million.

In February 2020, ironSource announced the launch of its new mobile game studio, Supersonic Studios. Within a couple of months, Supersonic Studios "scored three games in the top 10 mobile charts", with their games amassing more than 35 million downloads.

In January 2021, ironSource acquired mobile advertisement quality measurement company Soomla.

In February 2021, ironSource acquired Luna Labs, the creative management platform and creator of mobile advertisement creation tools like Luna Playable and Luna Replay.

On June 29, 2021, ironSource went public via a merger with an SPAC backed by private equity firm Thoma Bravo Advantage.

In July 2022, Unity Technologies agreed to buy ironSource in an all-stock deal worth US$4.4 billion. On completion of the deal, Unity shareholders owned about 73.5% of the combined company, and former ironSource shareholders kept about 26.5%. The deal was met with criticism from game developers due to ironSource's affiliation with malware. Unity completed the buyout in November 2022.

From Wikipedia’s article on IronSource, shared under CC BY-SA 4.0.8

Subsidiaries and ownership

Also owns

From Wikidata.1

Timeline

  1. 2011Founded Founded1

Filings

47 filings to the SEC since October 2021: 1 annual reports, 12 large holders, 34 other. The latest 20:

  1. Feb 14, 2023SC 13G/A EDGAR
  2. Feb 14, 2023SC 13G/A EDGAR
  3. Feb 14, 2023SC 13G/A EDGAR
  4. Feb 14, 2023SC 13G/A EDGAR
  5. Feb 13, 2023SC 13G/A EDGAR
  6. Nov 17, 2022SC 13G/A EDGAR
  7. Nov 17, 202215-12G EDGAR
  8. Nov 9, 2022EFFECT EDGAR
  9. Nov 7, 20226-K EDGAR
  10. Nov 7, 2022S-8 POS EDGAR
  11. Nov 7, 2022S-8 POS EDGAR
  12. Nov 7, 2022POS AM EDGAR
  13. Oct 11, 20226-K EDGAR
  14. Sep 8, 20226-K EDGAR
  15. Sep 8, 20226-K EDGAR
  16. Sep 6, 20226-K EDGAR
  17. Aug 29, 20226-K EDGAR
  18. Aug 26, 20226-K EDGAR
  19. Aug 16, 2022SC 13G EDGAR
  20. Aug 10, 20226-K EDGAR

The 47 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How IronSource is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARironSource Ltd2
  • CIK0001837430
  • Filer statusNon-accelerated filer<br>emerging growth company2
  • Incorporated inIsrael2
  • Fiscal year endsDecember 312
  • Industry code (SIC)7374 Services-Computer Processing & Data Preparation2
  • Business address121 Menachem Begin Street, Azrieli Sarona Tower, Tel Aviv, L3 -2
  • Phone9727479900012
  • On EDGAR sinceMar 22, 20212
  • Filings106 in all: 425 (38), 6-K (19), 424B3 (10), SC 13G (6), SC 13G/A (6), CORRESP (5), EFFECT (5), POS AM (3)2
    All 19 form types

    S-8 (2), S-8 POS (2), UPLOAD (2), 15-12G (1), 20-F (1), 25-NSE (1), 8-A12B (1), CERT (1), F-1 (1), F-4 (1), F-4/A (1)

  • Latest filingsAnnual report (20-F) Mar 30, 2022

Sources

The numbers on this page point here. Each one links to the record it came from.

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