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AppLovin Corporation

EDGAR
APP Quarterly report (10-Q) · filed 2026-08-05

Annual consolidated revenue for 2025: about USD 5.481B, using the latest reported figures. The previous period, 2024, was about USD 3.224B.

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Watchlist

Latest quarter

Revenue

1.92 billion USD

2026 Q2 · USD

Exact inputs and evidence
  • Revenue: 1923686000 USD Source

Operating margin

77.68%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: 1494277000 USD Source
  • Revenue: 1923686000 USD Source

Operating cash flow

869 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 2160433000 USD Source
  • Operating Cash Flow: 1291393000 USD Source
Cash and cash equivalents
3.05 billion USD Source
Exact value

3053306000 USD

Long-term debt including current maturities
3.51 billion USD Source
Exact value

3512987000 USD

Shares outstanding
335 million shares Source
Exact value

335291000 shares

Reported share-count change

-1.03% · -3.49 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 338782503 shares · 2025-06-30· Source
  • 335291000 shares · 2026-06-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

6.83 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 1405045000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 5480717000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 3822773000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 1842449000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 1923686000 USD · 2026-04-01 – 2026-06-30 Source

Net income

4.41 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: 835545000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: 3333751000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 2231495000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 1205613000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 1266538000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

4.53 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 2657360000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 1603938000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 3971094000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 2657360000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 1291393000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 2160433000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 1291393000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

4.25 million USD

2023-01-01 – 2023-12-31

Exact inputs and evidence
  • Capital expenditure: 70000 USD · 2023-01-01 – 2023-03-31 Source
  • Capital expenditure: 3819000 USD · 2023-01-01 – 2023-06-30 Source
  • Capital expenditure: 70000 USD · 2023-01-01 – 2023-03-31 Source
  • Capital expenditure: 4002000 USD · 2023-01-01 – 2023-09-30 Source
  • Capital expenditure: 3819000 USD · 2023-01-01 – 2023-06-30 Source
  • Capital expenditure: 4246000 USD · 2023-01-01 – 2023-12-31 Source
  • Capital expenditure: 4002000 USD · 2023-01-01 – 2023-09-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-08-05.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 8 of 11 periods available· newest 2025-12-31
  • Operating income: 8 of 11 periods available· newest 2025-12-31
  • Net income: 8 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 8 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 7 of 11 periods available· newest 2024-12-31
  • Total assets: 7 of 11 periods available· newest 2025-12-31
  • Total liabilities: 7 of 11 periods available· newest 2025-12-31
  • Current assets: 7 of 11 periods available· newest 2025-12-31
  • Current liabilities: 7 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 8 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 6 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 6 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +70%

    Prior period

    USD 3.22 billion

    –

    Current period

    USD 5.48 billion

    –

    Exact inputs and evidence

    5480717000 − 3224058000 = 2256659000 USD

    3224058000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    5480717000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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  • Net income

    +111%

    Prior period

    USD 1.58 billion

    –

    Current period

    USD 3.33 billion

    –

    Exact inputs and evidence

    3333751000 − 1579776000 = 1753975000 USD

    1579776000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3333751000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +89.2%

    Prior period

    USD 2.1 billion

    –

    Current period

    USD 3.97 billion

    –

    Exact inputs and evidence

    3971094000 − 2099011000 = 1872083000 USD

    2099011000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3971094000 USD · 2025-01-01 – 2025-12-31

    Inspect current input Current source
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Comparable inputs unavailable for: Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 5.48 billion 100% of revenue
  • Operating costs Derived USD 1.33 billion 24% of revenue
  • Operating income USD 4.15 billion 76% of revenue
  • Tax, interest and other Derived USD 818.16 million 15% of revenue
  • Net income USD 3.33 billion 61% of revenue

Cash

  • Operating cash flow USD 3.97 billion 72% of revenue
  • Capital expenditure Unavailable An input is unavailable.
  • Free cash flow Derived Unavailable An input is unavailable.

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2018 Net loss: net income was −54% of revenue.
  • 2019 12%80%
  • 2020 Operating loss: operating costs were 104% of revenue.
  • 2021 95%
  • 2022 Operating loss: operating costs were 102% of revenue.
  • 2023 19%23%58%
  • 2024 49%10%41%
  • 2025 61%15%24%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2018 2018-01-01 – 2018-12-31483363000 240918000 Derived 242445000 502440000 Derived -259995000 137631000 Derived
Source
2019 2019-01-01 – 2019-12-31994104000 799733000 Derived 194371000 75331000 Derived 119040000 195104000 Derived
Source
2020 2020-01-01 – 2020-12-311451086000 1513128000 Derived -62042000 63145000 Derived -125187000 219642000 Derived
Source
2021 2021-01-01 – 2021-12-312793104000 2643088000 Derived 150016000 114570000 Derived 35446000 360461000 Derived
Source
2022 2022-01-01 – 2022-12-312817058000 2864849000 Derived -47791000 144955000 Derived -192746000 412111000 Derived
Source
2023 2023-01-01 – 2023-12-311841762000 1069351000 Derived 772411000 415700000 Derived 356711000 1057264000 Derived
Source
2024 2024-01-01 – 2024-12-313224058000 1313102000 Derived 1910956000 331180000 Derived 1579776000 2094235000 Derived
Source
2025 2025-01-01 – 2025-12-315480717000 1328803000 Derived 4151914000 818163000 Derived 3333751000 Unavailable
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 5.5B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.5.9B4.4B3.0B1.5B0.0201820222025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Revenue483363000
2019Revenue994104000
2020Revenue1451086000
2021Revenue2793104000
2022Revenue2817058000
2023Revenue1841762000
2024Revenue3224058000
2025Revenue5480717000

Revenue growth

Change in revenue from the same financial period one year earlier.

70% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.117%76%36%-5%-46%201820222025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2018Year over yearNo prior comparable period
2019Year over year105.7%
2020Year over year46%
2021Year over year92.5%
2022Year over year0.9%
2023Year over year-34.6%
2024Year over year75.1%
2025Year over year70%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 75.8% 2025
Net margin 60.8% 2025
Free cash flow margin 65% 2024
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.86%49%11%-27%-64%201820222025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2018Operating margin50.2%
2019Operating margin19.6%
2020Operating margin-4.3%
2021Operating margin5.4%
2022Operating margin-1.7%
2023Operating margin41.9%
2024Operating margin59.3%
2025Operating margin75.8%
2018Net margin-53.8%
2019Net margin12%
2020Net margin-8.6%
2021Net margin1.3%
2022Net margin-6.8%
2023Net margin19.4%
2024Net margin49%
2025Net margin60.8%
2018Free cash flow margin28.5%
2019Free cash flow margin19.6%
2020Free cash flow margin15.1%
2021Free cash flow margin12.9%
2022Free cash flow margin14.6%
2023Free cash flow margin57.4%
2024Free cash flow margin65%
2025Free cash flow marginNot reported

Operating cash flow

Cash generated by the company’s normal business operations.

USD 4B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4.3B3.2B2.1B1.1B0.0201820222025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Operating cash flow139030000
2019Operating cash flow198462000
2020Operating cash flow222883000
2021Operating cash flow361851000
2022Operating cash flow412773000
2023Operating cash flow1061510000
2024Operating cash flow2099011000
2025Operating cash flow3971094000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 2.1B 2024
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.3B1.7B1.1B565.4M0.0201820222025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Free cash flow137631000
2019Free cash flow195104000
2020Free cash flow219642000
2021Free cash flow360461000
2022Free cash flow412111000
2023Free cash flow1057264000
2024Free cash flow2094235000
2025Free cash flowUnavailable

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

70.6% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.131%98%66%33%0%2018-12-3120222025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2018-12-31Liabilities / assetsNot reportedNo source recorded
2019Liabilities / assets121.3%
2020Liabilities / assets107.3%
2021Liabilities / assets65.3%
2022Liabilities / assets67.5%
2023Liabilities / assets76.6%
2024Liabilities / assets81.4%
2025Liabilities / assets70.6%

Current assets to current liabilities

Current assets divided by current liabilities.

3.32× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.5.46×4.09×2.73×1.36×0.00×2018-12-3120222025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2018-12-31Current assets / current liabilitiesNot reportedNo source recorded
2019Current assets / current liabilities2.45×
2020Current assets / current liabilities1.11×
2021Current assets / current liabilities5.05×
2022Current assets / current liabilities3.35×
2023Current assets / current liabilities1.71×
2024Current assets / current liabilities2.19×
2025Current assets / current liabilities3.32×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2018 2018-01-01 – 2018-12-31
−USD 260 million
Exact value

Exact value: -259995000 USD

2018-01-01 – 2018-12-31: -259995000 USD Inspect Net Income Open source
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USD 139.03 million
Exact value

Exact value: 139030000 USD

2018-01-01 – 2018-12-31: 139030000 USD Inspect Operating Cash Flow Open source
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USD 1.4 million
Exact value

Exact value: 1399000 USD

2018-01-01 – 2018-12-31: 1399000 USD Inspect Capital Expenditure Open source
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USD 137.63 million
Calculation and evidence

139030000 − 1399000 USD

Exact free cash flow: 137631000 USD

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2019 2019-01-01 – 2019-12-31
USD 119.04 million
Exact value

Exact value: 119040000 USD

2019-01-01 – 2019-12-31: 119040000 USD Inspect Net Income Open source
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USD 198.46 million
Exact value

Exact value: 198462000 USD

2019-01-01 – 2019-12-31: 198462000 USD Inspect Operating Cash Flow Open source
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USD 3.36 million
Exact value

Exact value: 3358000 USD

2019-01-01 – 2019-12-31: 3358000 USD Inspect Capital Expenditure Open source
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USD 195.1 million
Calculation and evidence

198462000 − 3358000 USD

Exact free cash flow: 195104000 USD

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2020 2020-01-01 – 2020-12-31
−USD 125.19 million
Exact value

Exact value: -125187000 USD

2020-01-01 – 2020-12-31: -125187000 USD Inspect Net Income Open source
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USD 222.88 million
Exact value

Exact value: 222883000 USD

2020-01-01 – 2020-12-31: 222883000 USD Inspect Operating Cash Flow Open source
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USD 3.24 million
Exact value

Exact value: 3241000 USD

2020-01-01 – 2020-12-31: 3241000 USD Inspect Capital Expenditure Open source
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USD 219.64 million
Calculation and evidence

222883000 − 3241000 USD

Exact free cash flow: 219642000 USD

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2021 2021-01-01 – 2021-12-31
USD 35.45 million
Exact value

Exact value: 35446000 USD

2021-01-01 – 2021-12-31: 35446000 USD Inspect Net Income Open source
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USD 361.85 million
Exact value

Exact value: 361851000 USD

2021-01-01 – 2021-12-31: 361851000 USD Inspect Operating Cash Flow Open source
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USD 1.39 million
Exact value

Exact value: 1390000 USD

2021-01-01 – 2021-12-31: 1390000 USD Inspect Capital Expenditure Open source
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USD 360.46 million
Calculation and evidence

361851000 − 1390000 USD

Exact free cash flow: 360461000 USD

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2022 2022-01-01 – 2022-12-31
−USD 192.75 million
Exact value

Exact value: -192746000 USD

2022-01-01 – 2022-12-31: -192746000 USD Inspect Net Income Open source
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USD 412.77 million
Exact value

Exact value: 412773000 USD

2022-01-01 – 2022-12-31: 412773000 USD Inspect Operating Cash Flow Open source
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USD 662,000
Exact value

Exact value: 662000 USD

2022-01-01 – 2022-12-31: 662000 USD Inspect Capital Expenditure Open source
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USD 412.11 million
Calculation and evidence

412773000 − 662000 USD

Exact free cash flow: 412111000 USD

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2023 2023-01-01 – 2023-12-31
USD 356.71 million
Exact value

Exact value: 356711000 USD

2023-01-01 – 2023-12-31: 356711000 USD Inspect Net Income Open source
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USD 1.06 billion
Exact value

Exact value: 1061510000 USD

2023-01-01 – 2023-12-31: 1061510000 USD Inspect Operating Cash Flow Open source
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USD 4.25 million
Exact value

Exact value: 4246000 USD

2023-01-01 – 2023-12-31: 4246000 USD Inspect Capital Expenditure Open source
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USD 1.06 billion
Calculation and evidence

1061510000 − 4246000 USD

Exact free cash flow: 1057264000 USD

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2024 2024-01-01 – 2024-12-31
USD 1.58 billion
Exact value

Exact value: 1579776000 USD

2024-01-01 – 2024-12-31: 1579776000 USD Inspect Net Income Open source
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USD 2.1 billion
Exact value

Exact value: 2099011000 USD

2024-01-01 – 2024-12-31: 2099011000 USD Inspect Operating Cash Flow Open source
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USD 4.78 million
Exact value

Exact value: 4776000 USD

2024-01-01 – 2024-12-31: 4776000 USD Inspect Capital Expenditure Open source
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USD 2.09 billion
Calculation and evidence

2099011000 − 4776000 USD

Exact free cash flow: 2094235000 USD

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2025 2025-01-01 – 2025-12-31
USD 3.33 billion
Exact value

Exact value: 3333751000 USD

2025-01-01 – 2025-12-31: 3333751000 USD Inspect Net Income Open source
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USD 3.97 billion
Exact value

Exact value: 3971094000 USD

2025-01-01 – 2025-12-31: 3971094000 USD Inspect Operating Cash Flow Open source
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Unavailable Not reported for this period.
Unavailable

Free cash flow cannot be calculated because Capital expenditure is unavailable for this period.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

29 filings · 2,713 latest values · 2,713 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001751008, 1751008, APP, edgar:1751008

Also known as AppLovin Corp, AppLovin Corporation, Applovin Corp