AppLovin Corp
AppLovin Corp
AppLovin Corp (APP) — SEC Financial Statements & Analysis
AppLovin Corp (APP) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.
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Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets | |||||||||||||||||
Assets Current | |||||||||||||||||
Cash And Cash Equivalents At Carrying Value | 2,759 | 2,487 | 1,667 | 1,193 | 551 | 697 | 568 | 460 | 436 | 502 | 332 | 876 | |||||
Accounts Receivable Net Current | 1,958 | 1,819 | 1,604 | 1,582 | 1,578 | 1,283 | 1,187 | 1,074 | 1,035 | 954 | 849 | 670 | |||||
Prepaid Expense And Other Assets Current | 131 | 124 | 217 | 218 | 238 | 140 | 120 | 125 | 136 | 160 | 119 | 150 | |||||
Assets Of Disposal Group Including Discontinued Op… | - | - | 0 | 0 | - | - | - | - | - | - | - | - | |||||
Assets Current | 4,848 | 4,431 | 3,488 | 2,993 | 2,367 | 2,312 | 1,875 | 1,660 | 1,608 | 1,616 | 1,301 | 1,696 | |||||
Property Plant And Equipment And Finance Lease Rig… | 115 | 122 | 131 | 130 | 162 | 160 | 177 | 169 | 173 | 173 | 102 | 115 | |||||
Operating Lease Right Of Use Asset | - | - | - | - | - | - | - | - | - | 48 | 53 | 57 | |||||
Goodwill | 1,523 | 1,540 | 1,541 | 1,539 | 1,640 | 1,458 | 1,852 | 1,822 | 1,827 | 1,843 | 1,814 | 1,831 | |||||
Finite Lived Intangible Assets Net | 369 | 397 | 422 | 448 | 855 | 473 | 1,024 | 1,102 | 1,198 | 1,293 | 1,387 | 1,494 | |||||
Equity Method Investments | 289 | - | - | - | - | - | - | - | - | - | - | - | |||||
Other Assets Noncurrent | 565 | 457 | 762 | 850 | 683 | 493 | 514 | 516 | 456 | 386 | 349 | 288 | |||||
Disposal Group Including Discontinued Operation As… | - | - | 0 | 0 | - | - | - | - | - | - | - | - | |||||
Assets | 7,708 | 7,260 | 6,343 | 5,959 | 5,707 | 5,869 | 5,442 | 5,269 | 5,263 | 5,359 | 5,005 | 5,482 | |||||
Liabilities And Stockhold… | |||||||||||||||||
Liabilities Current | |||||||||||||||||
Accounts Payable Current | 698 | 747 | 516 | 554 | 595 | 504 | 428 | 388 | 390 | 372 | 281 | 261 | |||||
Accrued Liabilities Current | 797 | 573 | 511 | 495 | 541 | 402 | 240 | 232 | 256 | 265 | 182 | 159 | |||||
Short Term Borrowings | - | - | - | - | 200 | 0 | 36 | 36 | 36 | 215 | 215 | 33 | |||||
Contract With Customer Liability Current | - | - | 46 | 45 | 73 | 70 | 76 | 74 | 80 | 79 | 78 | 74 | |||||
Operating Lease Liability Current | - | - | - | - | - | - | - | - | - | 14 | 14 | 14 | |||||
Liabilities Of Disposal Group Including Discontinu… | - | - | 0 | 0 | - | - | - | - | - | - | - | - | |||||
Liabilities Current | 1,494 | 1,334 | 1,073 | 1,094 | 1,409 | 1,057 | 780 | 730 | 763 | 944 | 805 | 592 | |||||
Long Term Debt Noncurrent | 3,514 | 3,513 | 3,512 | 3,511 | 3,510 | 3,509 | 3,474 | 3,482 | 3,490 | 2,906 | 2,912 | 3,167 | |||||
Operating Lease Liability Noncurrent | - | - | - | - | - | - | - | - | - | 43 | 47 | 51 | |||||
Other Liabilities Noncurrent | 336 | 260 | 284 | 188 | 212 | 180 | 250 | 243 | 250 | 210 | 133 | 143 | |||||
Liabilities Of Disposal Group Including Discontinu… | - | - | 0 | 0 | - | - | - | - | - | - | - | - | |||||
Liabilities | 5,344 | 5,125 | 4,869 | 4,792 | 5,131 | 4,779 | 4,504 | 4,455 | 4,502 | 4,103 | 3,909 | 3,965 | |||||
Stockholders Equity | |||||||||||||||||
Preferred Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Value | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Additional Paid In Capital | 504 | 447 | 428 | 449 | 475 | 594 | 993 | 1,172 | 1,421 | 2,135 | 2,175 | 2,688 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -68 | -47 | -3 | -5 | -73 | -103 | -54 | -91 | -84 | -65 | -94 | -77 | |||||
Retained Earnings Accumulated Deficit | 1,927 | 1,735 | 1,049 | 723 | 174 | 599 | 0 | -267 | -577 | -813 | -985 | -1,094 | |||||
Stockholders Equity | 2,363 | 2,135 | 1,474 | 1,167 | 575 | 1,090 | 938 | 815 | 760 | 1,256 | 1,096 | 1,517 | |||||
Liabilities And Stockholders Equity | 7,708 | 7,260 | 6,343 | 5,959 | 5,707 | 5,869 | 5,442 | 5,269 | 5,263 | 5,359 | 5,005 | 5,482 | |||||
Common Class A | 306 | 307 | -0 | -0 | 308 | 1,500 | 2 | 23 | 274 | 269 | 152 | 3 | |||||
Common Class B | 30 | 30 | -0 | -0 | 31 | 200 | -0 | -18 | 55 | 71 | 0 | 0 | |||||
Common Class C | 150 | 150 | 0 | 0 | 150 | - | - | - | - | - | - | - | |||||
Preferred Stock Par Or Stated Value Per Share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Shares Authorized | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | |||||
Preferred Stock Shares Issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Preferred Stock Shares Outstanding | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Par Or Stated Value Per Share | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||
Common Stock Shares Authorized | 1,850 | 1,850 | 1,850 | 1,850 | 1,850 | 1,850 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | 1,700 | |||||
Common Stock Shares Issued | 336 | 338 | 339 | 339 | 338 | 340 | 335 | 334 | 329 | 340 | 336 | 348 | |||||
Shares Outstanding | 336 | 338 | 339 | 339 | 338 | 340 | 335 | 334 | 329 | 340 | 336 | 348 | |||||
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Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 30.77% | - | - | - | - | - | - | - | - | - | - | - |
| 2025 | 29.51% | 9.99% | 20.00% | 22.54% | 71.51% | 58.74% | -2.85% | 15.75% | -15.01% | 11.33% | -5.00% | 13.73% |
| 2024 | 10.11% | 12.46% | 4.77% | 38.22% | 90.13% | 140.56% | 99.79% | 98.85% | 115.43% | -2.02% | -25.67% | 13.06% |
| 2023 | 39.30% | 44.47% | 75.52% | 46.85% | 35.87% | 23.16% | -4.66% | -0.67% | 10.42% | 20.75% | 13.24% | 39.84% |
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Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 3.24 | 3.32 | 3.25 | 2.74 | 1.68 | 2.19 | 2.41 | 2.28 | 2.11 | 1.71 | 1.61 | 2.87 | |||||
| Quick Ratio | 3.16 | 3.23 | 3.05 | 2.54 | 1.51 | 2.05 | 2.25 | 2.10 | 1.93 | 1.54 | 1.47 | 2.61 | |||||
| Working Capital | 3.35B | 3.10B | 2.41B | 1.90B | 958.11M | 1.25B | 1.10B | 930.68M | 845.36M | 672.04M | 495.32M | 1.10B | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | 2.26 | 2.40 | 3.30 | 4.11 | 8.92 | 4.39 | 4.80 | 5.47 | 5.92 | 3.27 | 3.57 | 2.61 | |||||
| Interest Coverage TTM | - | - | - | - | 32.30 | 12.84 | 6.93 | 3.95 | 3.37 | 2.35 | 1.38 | 0.96 | |||||
| Debt Ratio | 0.69 | 0.71 | 0.77 | 0.80 | 0.90 | 0.81 | 0.83 | 0.85 | 0.86 | 0.77 | 0.78 | 0.72 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.92 | 0.83 | 0.75 | 0.69 | 0.61 | 0.57 | 0.68 | 0.67 | 0.65 | 0.59 | 0.56 | 0.50 | |||||
| Days Sales Outstanding TTM | 104.68 | 103.32 | 114.67 | 125.17 | 143.43 | 126.64 | 104.47 | 88.75 | 84.21 | 92.09 | 91.16 | 86.20 | |||||
| Receivables Turnover TTM | 3.49 | 3.53 | 3.18 | 2.92 | 2.54 | 2.88 | 3.49 | 4.11 | 4.33 | 3.96 | 4.00 | 4.23 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 11.70 | 9.75 | 8.30 | 7.10 | 5.57 | 4.54 | 3.31 | 2.37 | 1.71 | 0.98 | 0.29 | 0.05 | |||||
| Free Cash Flow Per Share TTM | 13.13 | 11.72 | 9.92 | 8.42 | 7.41 | 6.18 | 5.12 | 4.10 | 3.46 | 3.00 | 2.57 | 2.39 | |||||
| Dividend Per Share TTM | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | 88.37% | 87.86% | 89.52% | 89.38% | 88.63% | 83.85% | 77.22% | 73.39% | 69.90% | 67.74% | 61.91% | 58.66% | |||||
| Operating Profit Margin TTM | 77.09% | 75.75% | 79.44% | 77.07% | 72.52% | 59.27% | 42.94% | 32.89% | 25.56% | 19.74% | 11.75% | 7.61% | |||||
| Net Profit Margin TTM | 64.28% | 60.82% | 63.72% | 62.74% | 57.75% | 49.00% | 32.37% | 23.01% | 16.43% | 10.81% | 3.44% | 0.70% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 85.39% | 69.99% | 24.87% | 7.97% | -8.30% | -1.80% | 17.33% | 24.49% | 24.72% | 16.54% | 4.26% | -1.41% | |||||
| Net Income Growth (1Y) | 106.38% | 111.00% | 145.81% | 194.44% | 222.34% | 345.08% | 1,004.34% | 4,005.76% | -826.33% | -284.15% | -227.17% | -119.05% | |||||
| EPS Growth (1Y) | 107.87% | 109.84% | 144.65% | 191.89% | 218.51% | 364.94% | 1,019.11% | 4,265.98% | -907.15% | -294.41% | -237.58% | -119.95% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 33.89 | 68.48 | 85.93 | 48.79 | 46.90 | 69.06 | 38.19 | 33.85 | 39.02 | 39.51 | 130.83 | 456.99 | |||||
| P/B | 56.82 | 106.94 | 165.03 | 101.57 | 156.49 | 100.11 | 46.88 | 34.28 | 30.58 | 11.16 | 12.45 | 6.05 | |||||
| P/S TTM | 21.78 | 41.65 | 54.75 | 30.61 | 27.08 | 33.84 | 12.36 | 7.79 | 6.41 | 4.27 | 4.50 | 3.19 | |||||
| Market Cap | 134.28B | 228.28B | 243.25B | 118.54B | 90.05B | 109.11B | 43.99B | 27.94B | 23.24B | 14.03B | 13.64B | 9.18B | |||||
| Enterprise Value | 135.04B | 229.30B | 245.09B | 120.86B | 93.21B | 111.92B | 46.93B | 30.99B | 26.33B | 16.64B | 16.44B | 11.51B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 4.43B | 3.97B | 3.36B | 2.85B | 2.52B | 2.08B | 1.72B | 1.37B | 1.16B | 1.06B | 876.68M | 852.06M | |||||
| Net Debt | 755.35M | 1.03B | 1.85B | 2.32B | 3.17B | 2.81B | 2.94B | 3.06B | 3.09B | 2.62B | 2.79B | 2.32B | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
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