AppLovin CorporationAPPNASDAQ

Overview Intelligence Charts News Fundamentals Key Metrics Earnings Growth Financials Insiders

Revenue (LTM)

$5.5B

+16.4% YoY

Net Income (LTM)

$3.3B

+111.0% YoY

Free Cash Flow

$3.9B

Revenue CAGR (5Y)

+30.4%

Marginsimproving

FCF$3.9B

Profitable

Watch on earnings:AppLovin Core revenue growth rate and software platform EBITDA marginsTotal advertising impressions served and effective CPM trends across the platformAdvertiser retention rates and net revenue retention from existing advertiser cohortsReturn on advertising spend (ROAS) metrics that advertisers achieve on the platform versus competitorsGaming studio revenue per daily active user (DAU) and user acquisition payback periods

Key metrics:AppLovin Core revenue growth rate (software platform segment) · E-commerce advertiser spending trends and share of total advertising revenue · Mobile gaming industry user acquisition costs and competitive intensity metrics · iOS vs Android revenue mix and impact of platform policy changes

Income Statement

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Revenue	2,793	2,817↑0.9%	3,283↑16.5%	4,709↑43.4%	5,481↑16.4%
Gross Profit	1,805	1,561↓13.5%	2,224↑42.5%	3,542↑59.3%	4,816↑35.9%
Operating Income	150	-48↓131.9%	648↑1456.3%	1,873↑189.0%	4,152↑121.6%
Net Income	35	-193↓643.8%	357↑285.1%	1,580↑342.9%	3,334↑111.0%
EBITDA	581	514↓11.5%	1,145↑122.9%	2,343↑104.6%	4,355↑85.9%
EPS Diluted	0.09	-0.52↓659.1%	0.98↑288.5%	4.53↑362.2%	9.75↑115.2%

Balance Sheet

⚠ Elevated debt levels - 1.66x debt/equity ratio creates refinancing risk if credit markets tighten, though strong FCF generation ($4.0B annually) provides substantial deleveraging capacity

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Cash & Equivalents	1,521	1,080↓28.9%	502↓53.5%	741↑47.6%	2,487↑235.5%
Total Current Assets	3,235	1,939↓40.1%	1,616↓16.7%	2,312↑43.1%	4,431↑91.6%
Total Assets	6,164	5,848↓5.1%	5,359↓8.4%	5,869↑9.5%	7,260↑23.7%
Total Current Liabilities	640	579↓9.6%	944↑63.1%	1,057↑12.0%	1,334↑26.1%
Total Liabilities	4,025	3,945↓2.0%	4,103↑4.0%	4,779↑16.5%	5,125↑7.2%
Total Equity	2,138	1,903↓11.0%	1,256↓34.0%	1,090↓13.3%	2,135↑95.9%
Total Debt	3,331	3,280↓1.5%	3,177↓3.1%	3,556↑11.9%	3,545↓0.3%
Net Debt	1,810	2,200↑21.5%	2,675↑21.6%	2,815↑5.2%	1,058↓62.4%

Cash Flow Statement

Metric	Dec 21	Dec 22	Dec 23	Dec 24	Dec 25
Operating Cash Flow	362	413↑14.1%	1,062↑157.2%	2,099↑97.7%	3,971↑89.2%
Capital Expenditure	-1	-1↑52.4%	-4↓541.4%	-5↓12.5%	-28↓492.9%
Free Cash Flow	360	412↑14.3%	1,057↑156.5%	2,094↑98.1%	3,943↑88.3%
Stock-Based Comp	133	192↑43.9%	363↑89.5%	369↑1.7%	210↓43.0%
Net Change in Cash	2,253	-1,490↓166.1%	-578↑61.2%	239↑141.4%	1,746↑629.6%

Values in millions except EPS · Ratios shown as percentages · Click any metric to drill down

Explore More

S&P 500 Screener

Filter and sort all 500 stocks

Market Movers

Today's biggest gainers and losers

Market Heatmap

Visual sector performance