AppLovin Corp APP

Technology SIC 7370 - Services-Computer Programming, Data Processing, Etc. NAICS Professional, Scientific, and Technical Services › Computer Systems Design and Related Services derived Nasdaq

Our mission is to create meaningful connections between companies and their ideal customers. We provide end-to-end artificial intelligence-powered ("AI") advertising solutions for businesses to reach, monetize and grow their global audience. Our scaled business model is intricately linked to the advertising ecosystem, providing a durable competitive advantage. We generate revenue when our advertisers achieve their return on advertising spend targets with our advertising solutions, ensuring that their success directly fuels our growth.

AppLovin is critical to the success of advertisers and publishers seeking to solve marketing and monetization challenges. Through our technologies and scaled distribution, advertisers are able to better place content so that it is discovered by the right audience, manage, optimize, and analyze their marketing investments, and improve the monetization of their content, and publishers are able to better monetize their gaming apps. Our advertising solutions include a comprehensive suite of tools including:

Last close 260.25 2026-10-23
Market cap $87.39B estimated share count
52-week range 258.32 - 738.01

Valuation FY2025 figures against the last close

P/S15.9x
P/E26.7x
P/FCF22.0x
EV/EBITDA20.3x
Dividend yield—
Diluted EPS9.75

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $5.48B$3.22B$1.84B$2.82B$2.79B$1.45B$994.1M—
Cost of revenue $665.1M$520.6M$356.6M$1.26B$988.1M$555.6M$241.3M—
Gross profit $4.82B$2.70B$1.49B$1.56B$1.81B$895.5M$752.8M—
R&D $226.5M$374.7M$333.8M$507.6M$366.4M$180.7M$45.0M—
SG&A $233.5M$164.9M$150.9M$181.6M$158.7M$66.4M$31.7M—
Total operating expenses $1.33B$1.31B$1.07B$2.86B$2.64B$1.51B$799.7M—
Operating income $4.15B$1.91B$772.4M-$47.8M$150.0M-$62.0M$194.4M—
Pre-tax income $3.95B$1.61B$501.6M-$205.2M$46.3M-$135.7M$126.2M—
Income tax $519.7M$22.4M$43.8M$12.2M$11.0M$9.8M$7.2M—
Net income $3.33B$1.58B$357.0M-$193.0M$35.0M-$125.2M$119.0M—
EPS, basic 9.844.681.01-0.520.10-0.580.36—
EPS, diluted 9.754.530.98-0.520.09-0.580.36—
Shares, diluted (wtd. avg.) 342.0M347.8M362.6M371.6M342.8M214.9M212.4M—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $2.49B$697.0M$502.2M$1.08B$2.57B$317.2M$396.2M$276.1M
Receivables $1.82B$1.28B$953.8M$702.8M$514.5M$297.0M——
Total current assets $4.43B$2.31B$1.62B$1.94B$3.24B$663.0M——
Goodwill $1.54B$1.46B$1.50B$1.82B$966.4M$249.8M$137.1M—
Other intangibles $396.7M$472.9M$1.29B$1.68B$1.71B$1.09B——
Total assets $7.26B$5.87B$5.36B$5.85B$6.16B$2.15B——
Accounts payable $747.0M$504.3M$371.7M$273.2M$258.2M$147.3M——
Short-term debt —$0$215.0M$33.3M$25.8M$15.2M——
Total current liabilities $1.33B$1.06B$944.1M$579.0M$640.1M$598.1M——
Long-term debt $3.51B$3.51B$2.91B$3.18B$3.20B$1.58B——
Total liabilities $5.12B$4.78B$4.10B$3.95B$4.03B$2.31B——
Retained earnings $1.74B$599.2M-$813.0M-$1.17B-$977.0M-$1.01B——
Total equity $2.13B$1.09B$1.26B$1.90B$2.14B-$158.5M-$256.6M-$378.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $3.97B$2.10B$1.06B$412.8M$361.9M$222.9M$198.5M—
Depreciation and amortisation $194.8M$448.7M$489.0M$547.1M$431.1M$255.0M$92.8M—
Stock-based compensation $210.4M$369.4M$363.1M$191.6M$133.2M$62.4M$10.2M—
Capital expenditure —$4.8M$4.2M$662.0K$1.4M$3.2M$3.4M—
Investing cash flow $358.4M-$106.8M-$77.8M-$1.37B-$1.21B-$679.9M-$411.6M—
Financing cash flow -$2.59B-$1.75B-$1.56B-$526.8M$3.11B$377.9M$333.2M—
Buybacks $2.19B$981.3M$1.15B$338.9M$0$1.8M$11.0K—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001751008-26-000028.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -2B 0 2B 4B 6B Revenue, FY2019: 994.1M Gross profit, FY2019: 752.8M Net income, FY2019: 119M Revenue, FY2020: 1.5B Gross profit, FY2020: 895.5M Net income, FY2020: -125.2M Revenue, FY2021: 2.8B Gross profit, FY2021: 1.8B Net income, FY2021: 35M Revenue, FY2022: 2.8B Gross profit, FY2022: 1.6B Net income, FY2022: -193M Revenue, FY2023: 1.8B Gross profit, FY2023: 1.5B Net income, FY2023: 357M Revenue, FY2024: 3.2B Gross profit, FY2024: 2.7B Net income, FY2024: 1.6B Revenue, FY2025: 5.5B Gross profit, FY2025: 4.8B Net income, FY2025: 3.3B FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $994.1M $1.45B $2.79B $2.82B $1.84B $3.22B $5.48B
Gross profit — $752.8M $895.5M $1.81B $1.56B $1.49B $2.70B $4.82B
Net income — $119.0M -$125.2M $35.0M -$193.0M $357.0M $1.58B $3.33B

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Shareholder vote Item 5.07

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 7370

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FLUT Flutter Entertainment plc $13.90B — 16.6%
PINS PINTEREST, INC. $12.56B 36.6x 15.8%
FDS FACTSET RESEARCH SYSTEMS INC $11.78B 21.3x 5.4%
DOCN DigitalOcean Holdings, Inc. $10.96B 37.0x 15.5%
SNAP Snap Inc $10.55B — 10.6%