AppLovin Corp financials
Source: EDGAR filings · Built 2026-06-02T02:21:10Z
Custom taxonomy namespace:
ffd
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Free Cash Flow | — | 2.07B | 1.04B | 388.03M | 345.19M | 209.93M |
| EBITDA | 4.35B | 2.36B | 1.26B | 499.29M | 581.08M | 192.91M |
| Working Capital | 3.10B | 1.25B | 672.04M | 1.36B | 2.59B | 64.94M |
| Net Debt | 1.18B | 3.02B | 3.05B | 2.30B | 1.86B | 1.38B |
| Gross Margin | 87.86% | 83.85% | 80.64% | 55.41% | 64.62% | 61.71% |
| Operating Margin | 75.75% | 59.27% | 41.94% | -1.70% | 5.37% | -4.28% |
| Net Margin | 60.83% | 49.00% | 19.37% | -6.84% | 1.27% | -8.63% |
| Return on Equity (ROE) | 156.17% | 144.96% | 28.39% | -10.13% | 1.66% | 78.96% |
| Return on Assets (ROA) | 45.92% | 26.92% | 6.66% | -3.30% | 0.58% | -5.81% |
| Current Ratio | 3.32× | 2.19× | 1.71× | 3.35× | 5.05× | 1.11× |
| Debt-to-Equity | 1.72× | 3.41× | 2.83× | 1.78× | 1.58× | -10.71× |
| Effective Tax Rate | 13.15% | 1.39% | 8.73% | 5.96% | 23.69% | 7.20% |
| Cash Conversion Ratio | 1.19× | 1.33× | 2.98× | -2.14× | 10.21× | -1.78× |
| Accruals Ratio | -0.09× | -0.09× | -0.13× | -0.10× | -0.05× | -0.16× |
| SBC % of Revenue | 3.84% | 11.46% | 19.72% | 6.80% | 4.77% | 4.30% |
| CapEx Coverage | — | 81.83× | 43.48× | 16.68× | 21.72× | 17.21× |
| Free Cash Flow Per Share | — | $5.96 | $2.86 | $1.04 | $1.01 | $0.98 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 69.11× | 71.49× | 40.66× | — | 1047.33× | — |
| P/FCF | — | 54.32× | 13.93× | 10.08× | 93.60× | — |
| FCF Yield | — | 1.84% | 7.18% | 9.92% | 1.07% | — |
| EV / EBITDA | 52.72× | 47.94× | 13.16× | 12.49× | 64.05× | — |
| P/S | 41.59× | 34.15× | 7.35× | 1.40× | 12.66× | — |
| P/B | 106.79× | 101.04× | 10.78× | 2.07× | 16.54× | — |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 5.48B | 3.22B | 1.84B | 2.82B | 2.79B | 1.45B |
| Revenues | 5.48B | 3.22B | 1.84B | 2.82B | 2.79B | 1.45B |
| Cost of Revenue | 665.14M | 520.61M | 356.61M | 1.26B | 988.10M | 555.58M |
| Research and Development Expense | 226.51M | 374.71M | 333.78M | 507.61M | 366.40M | 180.65M |
| Operating Income (Loss) | 4.15B | 1.91B | 772.41M | -47.79M | 150.02M | -62.04M |
| Income Tax Expense (Benefit) | 519.72M | 22.42M | 43.78M | -12.23M | 10.97M | -9.77M |
| Net Income (Loss) Attributable to Parent | 3.33B | 1.58B | 356.71M | -192.75M | 35.45M | -125.19M |
| Earnings Per Share, Basic | $9.84 | $4.68 | $1.01 | $-0.52 | $0.10 | $-0.58 |
| Weighted Average Number of Shares Outstanding, Basic | 338.78M | 336.92M | 351.95M | 371.57M | 324.84M | 214.94M |
| Earnings Per Share, Diluted | $9.75 | $4.53 | $0.98 | $-0.52 | $0.09 | $-0.58 |
| Weighted Average Number of Shares Outstanding, Diluted | 341.97M | 347.81M | 362.59M | 371.57M | 342.76M | 214.94M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 2.49B | 697.03M | 502.15M | 1.08B | 1.52B | 317.24M |
| Assets, Current | 4.43B | 2.31B | 1.62B | 1.94B | 3.24B | 662.99M |
| Assets | 7.26B | 5.87B | 5.36B | 5.85B | 6.16B | 2.15B |
| Long-term Debt | 3.51B | 3.51B | 3.12B | 3.21B | 3.23B | — |
| Liabilities, Current | 1.33B | 1.06B | 944.12M | 578.96M | 640.10M | 598.05M |
| Long-term Debt, Excluding Current Maturities | 3.51B | 3.51B | 2.91B | 3.18B | 3.20B | 1.58B |
| Liabilities | 5.12B | 4.78B | 4.10B | 3.95B | 4.03B | 2.31B |
| Stockholders' Equity Attributable to Parent | 2.13B | 1.09B | 1.26B | 1.90B | 2.14B | -158.54M |
| Common Stock, Shares, Outstanding | 338.31M | 340.04M | 339.89M | 373.87M | 375.09M | 226.36M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2021 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 3.97B | 2.10B | 1.06B | 412.77M | 361.85M | 222.88M |
| Payments to Acquire Property, Plant, and Equipment | — | 4.78M | 4.25M | 662.00K | 1.39M | 3.24M |
| Net Cash Provided by (Used in) Investing Activities | 358.43M | -106.75M | -77.83M | -1.37B | -1.21B | -679.89M |
| Payments for Repurchase of Common Stock | 2.19B | 981.30M | 1.15B | 338.88M | 0 | 1.77M |
| Net Cash Provided by (Used in) Financing Activities | -2.59B | -1.75B | -1.56B | -526.85M | 3.11B | 377.86M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| EBITDA | 1.47B | 1.31B | — | — | 919.87M | 756.17M |
| Working Capital | 3.35B | 3.10B | 2.41B | 1.90B | 958.11M | 1.25B |
| Net Debt | 755.35M | 1.18B | 1.85B | 2.32B | 3.16B | 3.02B |
| Gross Margin | 88.95% | 88.93% | 87.56% | 87.68% | 86.91% | 84.65% |
| Operating Margin | 78.15% | 76.92% | 76.80% | 76.08% | 72.48% | 62.87% |
| Net Margin | 65.44% | 66.48% | 59.47% | 65.11% | 49.74% | 59.95% |
| Return on Equity (ROE) | 51.01% | 51.64% | 56.69% | 70.22% | 100.17% | 54.98% |
| Return on Assets (ROA) | 15.64% | 15.18% | 13.17% | 13.75% | 10.10% | 10.21% |
| Current Ratio | 3.24× | 3.32× | 3.25× | 2.74× | 1.68× | 2.19× |
| Debt-to-Equity | 1.49× | 1.72× | 2.38× | 3.01× | 6.45× | 3.41× |
| Effective Tax Rate | 15.77% | 12.06% | 18.16% | 12.69% | 8.94% | -11.48% |
| Cash Conversion Ratio | 1.07× | 1.19× | 3.18× | 1.96× | 1.44× | 1.17× |
| Accruals Ratio | -0.01× | -0.03× | -0.29× | -0.13× | -0.04× | -0.02× |
| SBC % of Revenue | 4.53% | 4.84% | 9.26% | 7.71% | 5.29% | 9.39% |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | 34.19× | 69.11× | 87.31× | 49.80× | 47.91× | 71.49× |
| P/S | 21.71× | 41.59× | 50.44× | 27.89× | 24.20× | 30.56× |
| P/B | 56.63× | 106.79× | 165.04× | 101.62× | 155.81× | 101.04× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 1.84B | 1.66B | 1.41B | 1.26B | 1.16B | 999.49M |
| Cost of Revenue | 203.63M | 183.53M | 174.85M | 155.08M | 151.68M | 153.39M |
| Research and Development Expense | 94.10M | 82.22M | 43.85M | 44.03M | 56.41M | 105.86M |
| Operating Income (Loss) | 1.44B | 1.28B | 1.08B | 957.68M | 839.98M | 628.33M |
| Income Tax Expense (Benefit) | 225.79M | 151.10M | 185.40M | 112.15M | 71.07M | -61.38M |
| Net Income (Loss) Attributable to Parent | 1.21B | 1.10B | 835.54M | 819.53M | 576.42M | 599.20M |
| Earnings Per Share, Basic | $3.57 | $3.26 | $2.47 | $2.42 | $1.70 | $1.77 |
| Weighted Average Number of Shares Outstanding, Basic | 337.40M | 338.78M | 338.53M | 338.62M | 339.84M | 336.92M |
| Earnings Per Share, Diluted | $3.56 | $3.24 | $2.45 | $2.39 | $1.67 | $1.72 |
| Weighted Average Number of Shares Outstanding, Diluted | 338.73M | 341.97M | 340.97M | 342.19M | 344.88M | 347.81M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 2.76B | 2.49B | 1.67B | 1.19B | 551.02M | 697.03M |
| Assets, Current | 4.85B | 4.43B | 3.49B | 2.99B | 2.37B | 2.31B |
| Assets | 7.71B | 7.26B | 6.34B | 5.96B | 5.71B | 5.87B |
| Long-term Debt | — | 3.51B | — | — | — | 3.51B |
| Liabilities, Current | 1.49B | 1.33B | 1.07B | 1.09B | 1.41B | 1.06B |
| Long-term Debt, Excluding Current Maturities | 3.51B | 3.51B | 3.51B | 3.51B | 3.51B | 3.51B |
| Liabilities | 5.34B | 5.12B | 4.87B | 4.79B | 5.13B | 4.78B |
| Stockholders' Equity Attributable to Parent | 2.36B | 2.13B | 1.47B | 1.17B | 575.42M | 1.09B |
| Common Stock, Shares, Outstanding | 336.29M | 338.31M | 338.53M | 338.78M | 338.36M | 340.04M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | 1.29B | 1.31B | 2.66B | 1.60B | 831.71M | 701.00M |
| Net Cash Provided by (Used in) Investing Activities | -5.25M | -828.00K | 359.26M | 378.88M | -22.66M | -367.00K |
| Payments for Repurchase of Common Stock | 981.72M | 417.62M | 1.77B | 1.27B | 1.00B | 625.00K |
| Net Cash Provided by (Used in) Financing Activities | -1.01B | -493.21M | -2.10B | -1.54B | -1.00B | -523.16M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (APP CIK 0001751008),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.