AppLovin Corp.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), AppLovin Corp. reported revenue of $5.5B (+16.4% year on year) and net income of $3.4B.
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenue | $5.5B | $4.7B | $3.3B | $2.8B |
| Cost of revenue | $665.1M | $1.2B | $1.1B | $1.3B |
| Sales and marketing | $203.7M | $849.2M | $830.7M | $919.5M |
| Research and development | $226.5M | $638.7M | $592.4M | $507.6M |
| General and administrative | $233.5M | $181.1M | $152.6M | $181.6M |
| Total costs and expenses | $1.3B | $2.8B | $2.6B | $2.9B |
| Income from operations | $4.2B | $1.9B | $648.2M | ($47.8M) |
| Interest expense and loss on settlement of debt | ($207.0M) | ($318.3M) | ($275.7M) | ($171.9M) |
| Other income, net | $8.0M | $20.8M | $8.0M | $14.5M |
| Total other expense, net | ($199.0M) | ($297.5M) | ($267.6M) | ($157.4M) |
| Income before income taxes | $4.0B | $1.6B | $380.6M | ($205.2M) |
| Provision for income taxes | $519.7M | ($3.8M) | $23.9M | ($12.2M) |
| Net income from continuing operations | $3.4B | — | — | — |
| Loss from discontinued operations, net of income taxes | ($99.4M) | — | — | — |
| Net income | $3.3B | $1.6B | $356.7M | ($192.7M) |
| Continuing operations (in dollars per share) | $10.13 | — | — | — |
| Basic net income per share (in dollars per share) | $9.84 | $4.68 | $1.01 | -$0.52 |
| Continuing operations (in dollars per share) | $10.04 | — | — | — |
| Discontinued operations (in dollars per share) | -$0.29 | — | — | — |
| Diluted net income per share (in dollars per share) | $9.75 | $4.53 | $0.98 | -$0.52 |
| Basic (in shares) | 338.8M | 336.9M | 352.0M | 371.6M |
| Diluted (in shares) | 342.0M | 347.8M | 362.6M | 371.6M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenue | $1.9B | $1.8B | $1.4B | $1.3B |
| Cost of revenue | $225.8M | $203.6M | $174.9M | $155.1M |
| Sales and marketing | $63.4M | $60.8M | $48.6M | $46.9M |
| Research and development | $99.9M | $94.1M | $43.9M | $44.0M |
| General and administrative | $40.3M | $44.0M | $58.8M | $55.0M |
| Total costs and expenses | $429.4M | $402.5M | $326.0M | $301.1M |
| Income from operations | $1.5B | $1.4B | $1.1B | $957.7M |
| Interest expense | ($51.2M) | ($51.2M) | ($51.4M) | ($51.4M) |
| Other income (expense), net | $62.4M | $42.6M | ($6.6M) | ($22.3M) |
| Total other income (expense), net | $11.2M | ($8.5M) | ($58.1M) | ($73.7M) |
| Income before income taxes | $1.5B | $1.4B | $1.0B | $884.0M |
| Provision for income taxes | $239.0M | $225.8M | $185.4M | $112.1M |
| Net income from continuing operations | $1.3B | $1.2B | $835.5M | $771.9M |
| Income (loss) from discontinued operations, net of income taxes | $0 | $0 | $0 | $47.7M |
| Net income | $1.3B | $1.2B | $835.5M | $819.5M |
| Continuing operations (in dollars per share) | $3.77 | $3.57 | $2.47 | $2.28 |
| Basic net income per share (in dollars per share) | $3.77 | $3.57 | $2.47 | $2.42 |
| Continuing operations (in dollars per share) | $3.76 | $3.56 | $2.45 | $2.26 |
| Discontinued operations (in dollars per share) | $0.00 | $0.00 | $0.00 | $0.14 |
| Diluted net income per share (in dollars per share) | $3.76 | $3.56 | $2.45 | $2.39 |
| Basic (in shares) | 335.8M | 337.4M | 338.5M | 338.6M |
| Diluted (in shares) | 337.0M | 338.7M | 341.0M | 342.2M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $2.5B | $741.4M | $502.2M | $1.1B |
| Accounts receivable, net | $1.8B | $1.4B | $953.8M | $702.8M |
| Prepaid expenses and other current assets | $124.3M | $156.5M | $160.2M | $155.8M |
| Current assets of discontinued operations | $0 | — | — | — |
| Total current assets | $4.4B | $2.3B | $1.6B | $1.9B |
| Property and equipment, net | $122.4M | $160.5M | $173.3M | $78.5M |
| Operating lease right-of-use assets | $25.5M | $38.1M | $48.2M | $60.4M |
| Goodwill | $1.5B | $1.8B | $1.8B | $1.8B |
| Intangible assets, net | $396.7M | $896.7M | $1.3B | $1.7B |
| Equity method investments | $287.7M | — | — | — |
| Other assets | $456.6M | $658.4M | $386.0M | $268.4M |
| Non-current assets of discontinued operations | $0 | — | — | — |
| Total assets | $7.3B | $5.9B | $5.4B | $5.8B |
| Accounts payable | $747.0M | $563.4M | $371.7M | $273.2M |
| Accrued and other current liabilities | $572.9M | $409.4M | $252.2M | $147.8M |
| Operating lease liabilities, current | $13.9M | $14.8M | $13.6M | $14.3M |
| Current liabilities of discontinued operations | $0 | — | — | — |
| Total current liabilities | $1.3B | $1.1B | $944.1M | $579.0M |
| Long-term debt | $3.5B | $3.5B | $2.9B | $3.2B |
| Operating lease liabilities, non-current | $17.8M | $32.6M | $42.9M | $54.2M |
| Other non-current liabilities | $260.4M | $180.4M | $209.9M | $106.7M |
| Non-current liabilities of discontinued operations | $0 | — | — | — |
| Total liabilities | $5.1B | $4.8B | $4.1B | $3.9B |
| Preferred stock, $0.00003 par value—100,000 shares authorized, no shares issued and outstanding as of December 31, 2025 and 2024 | 0 | 0 | 0 | 0 |
| Class A, Class B, and Class C Common Stock, $0.00003 par value—1,850,000 (Class A 1,500,000, Class B 200,000, Class C 150,000) shares authorized, 338,313 (Class A 307,955, Class B 30,358, Class C nil) and 340,042 (Class A 309,353, Class B 30,689, Class C nil) shares issued and outstanding as of December 31, 2025 and 2024, respectively | 11.0K | 11.0K | 11.0K | 11.0K |
| Additional paid-in capital | $446.6M | $593.7M | $2.1B | $3.2B |
| Accumulated other comprehensive loss | ($47.0M) | ($103.1M) | ($65.3M) | ($83.4M) |
| Retained earnings | $1.7B | $599.2M | ($813.0M) | ($1.2B) |
| Total stockholders’ equity | $2.1B | $1.1B | $1.3B | $1.9B |
| Total liabilities and stockholders’ equity | $7.3B | $5.9B | $5.4B | $5.8B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $3.1B | $2.8B | $1.7B | $1.2B |
| Accounts receivable, net | $2.2B | $2.0B | $1.6B | $1.6B |
| Prepaid expenses and other current assets | $168.0M | $130.9M | $216.7M | $218.4M |
| Total current assets | $5.4B | $4.8B | $3.5B | $3.0B |
| Property and equipment, net | $111.9M | $114.8M | $130.8M | $129.6M |
| Goodwill | $1.5B | $1.5B | $1.5B | $1.5B |
| Intangible assets, net | $355.7M | $369.0M | $421.9M | $448.2M |
| Equity method investments | $290.0M | $288.7M | — | — |
| Other non-current assets | $600.7M | $564.6M | $761.9M | $849.7M |
| Total assets | $8.3B | $7.7B | $6.3B | $6.0B |
| Accounts payable | $778.9M | $697.5M | $516.4M | $553.7M |
| Accrued and other current liabilities | $475.0M | $796.9M | $510.9M | $495.2M |
| Total current liabilities | $1.3B | $1.5B | $1.1B | $1.1B |
| Long-term debt | $3.5B | $3.5B | $3.5B | $3.5B |
| Other non-current liabilities | $337.1M | $335.8M | $284.0M | $187.5M |
| Total liabilities | $5.1B | $5.3B | $4.9B | $4.8B |
| Preferred Stock, $0.00003 par value—100,000 shares authorized, no shares issued and outstanding as of June 30, 2026 and December 31, 2025 | 0 | 0 | 0 | 0 |
| Class A, Class B, and Class C Common Stock, $0.00003 par value—1,850,000 (Class A 1,500,000, Class B 200,000, Class C 150,000) shares authorized, 335,291 (Class A 305,084, Class B 30,208, Class C nil) and 338,313 (Class A 307,955, Class B 30,358, Class C nil) shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 11.0K | 11.0K | 11.0K | 11.0K |
| Additional paid-in capital | $575.1M | $504.3M | $428.0M | $448.9M |
| Accumulated other comprehensive loss | ($73.8M) | ($67.8M) | ($2.7M) | ($5.1M) |
| Retained earnings | $2.7B | $1.9B | $1.0B | $723.4M |
| Total stockholders’ equity | $3.2B | $2.4B | $1.5B | $1.2B |
| Total liabilities and stockholders’ equity | $8.3B | $7.7B | $6.3B | $6.0B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $3.3B | — | — | — |
| Amortization, depreciation and write-offs | $194.8M | $448.7M | $489.0M | $547.1M |
| Goodwill impairment | $188.9M | — | — | — |
| Stock-based compensation, excluding cash-settled awards | $210.4M | $369.4M | $363.1M | $191.6M |
| Gain on divestiture, net of transaction costs | ($106.2M) | — | — | — |
| Impairment of investments | $50.0M | $0 | $28.0M | — |
| Loss on settlement of debt | $0 | $28.4M | — | $0 |
| Change in operating right-of-use assets | $12.3M | $12.7M | $17.8M | $17.1M |
| Other | $9.2M | $2.6M | $6.2M | $1.8M |
| Accounts receivable | ($542.2M) | ($467.0M) | ($261.3M) | ($174.8M) |
| Prepaid expenses and other assets | $134.7M | — | — | — |
| Accounts payable | $232.5M | $189.6M | $98.6M | $3.5M |
| Operating lease liabilities | ($15.2M) | ($14.1M) | ($18.6M) | ($18.9M) |
| Accrued and other liabilities | $268.2M | $134.0M | $92.8M | ($6.4M) |
| Net cash provided by operating activities | $4.0B | $2.1B | $1.1B | $412.8M |
| Purchase of intangible assets | ($28.3M) | — | — | — |
| Purchase of non-marketable equity securities | ($20.2M) | ($77.0M) | ($17.9M) | ($66.3M) |
| Proceeds from divestiture, net of cash divested | $407.3M | — | — | — |
| Other investing activities | ($373.0K) | — | — | $4.3M |
| Net cash provided by (used in) investing activities | $358.4M | ($106.8M) | ($77.8M) | ($1.4B) |
| Repurchases of common stock | ($2.2B) | ($981.3M) | ($1.2B) | ($338.9M) |
| Payments of withholding taxes related to net share settlement | ($392.4M) | ($1.1B) | ($246.4M) | ($27.5M) |
| Principal repayments of debt | ($200.0M) | ($4.2B) | ($498.0M) | ($25.8M) |
| Payments of deferred acquisition costs | $0 | $0 | ($33.9M) | ($124.2M) |
| Principal payments of finance leases | ($18.7M) | ($20.9M) | ($20.2M) | ($24.1M) |
| Payments of licensed asset obligation | ($13.5M) | $0 | ($27.1M) | ($17.4M) |
| Payments of debt issuance cost | ($1.8M) | ($35.6M) | ($4.7M) | — |
| Proceeds from issuance of debt | $200.0M | $4.6B | — | — |
| Proceeds from issuance of common stock upon exercise of stock options and purchase of ESPP shares | 25.3M | 41.8M | — | — |
| Net cash used in financing activities | ($2.6B) | ($1.7B) | ($1.6B) | ($526.8M) |
| Effect of foreign exchange rate on cash and cash equivalents | $9.2M | — | — | — |
| Net increase in cash and cash equivalents, including cash classified within current assets of discontinued operations | $1.7B | $239.3M | ($578.3M) | ($1.5B) |
| Less: net decrease in cash classified within current assets of discontinued operations | ($44.4M) | — | — | — |
| Net (decrease) increase in cash and cash equivalents | $1.8B | — | — | — |
| Cash and cash equivalents at beginning of the period | $697.0M | $502.2M | $1.1B | $2.6B |
| Cash and cash equivalents at end of the period | $2.5B | $741.4M | — | — |
| Non-cash consideration received from divestiture | $285.0M | — | — | — |
| Right-of-use assets obtained in exchange for lease obligations, net of modifications | ($28.6M) | — | — | — |
| Accrued withholding taxes related to net share settlement of restricted stock units | 0 | 8.6M | — | — |
| Cash paid for income taxes, net of refunds | $194.8M | $67.3M | $75.4M | $86.3M |
| Cash paid for interest | $198.8M | $270.6M | $248.8M | $166.0M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $2.5B | $1.2B | $2.2B | $1.4B |
| Amortization, depreciation and write-offs | $66.2M | $33.7M | $162.0M | $126.9M |
| Goodwill impairment | $0 | $0 | $188.9M | $188.9M |
| Stock-based compensation, excluding cash-settled awards | $169.0M | $83.4M | $130.2M | $97.0M |
| Gain on divestiture, net of transaction costs | $0 | — | ($106.2M) | ($106.2M) |
| Other | ($42.1M) | ($16.5M) | $80.9M | $41.6M |
| Accounts receivable | ($352.6M) | ($138.1M) | ($326.7M) | ($291.6M) |
| Prepaid expenses and other assets | ($56.9M) | ($9.8M) | $84.5M | $20.7M |
| Accounts payable | $29.6M | ($49.6M) | $2.1M | $39.0M |
| Accrued and other liabilities | ($125.0M) | $182.7M | $210.3M | $91.5M |
| Net cash provided by operating activities | $2.2B | $1.3B | $2.7B | $1.6B |
| Proceeds from divestiture, net of cash divested | $0 | — | $407.3M | $424.7M |
| Purchase of non-marketable equity securities | $0 | $0 | ($20.2M) | ($18.7M) |
| Other investing activities | ($7.7M) | ($5.2M) | ($27.9M) | ($27.1M) |
| Net cash provided by (used in) investing activities | ($7.7M) | ($5.2M) | $359.3M | $378.9M |
| Repurchases of common stock | ($1.5B) | ($981.7M) | ($1.8B) | ($1.3B) |
| Payment of withholding taxes related to net share settlement | ($46.5M) | ($26.9M) | ($316.9M) | ($256.6M) |
| Principal repayments of debt | $0 | — | ($200.0M) | ($200.0M) |
| Payments of licensed asset obligation | $0 | $0 | ($13.5M) | ($13.5M) |
| Proceeds from issuance of debt | $0 | $0 | $200.0M | $200.0M |
| Other financing activities | ($3.2M) | ($3.6M) | ($16.1M) | ($11.8M) |
| Net cash used in financing activities | ($1.6B) | ($1.0B) | ($2.1B) | ($1.5B) |
| Effect of foreign exchange rate on cash and cash equivalents | ($3.9M) | ($2.3M) | $8.7M | $8.0M |
| Net increase in cash and cash equivalents, including cash from discontinued operations | $566.2M | $271.6M | $925.5M | $451.2M |
| Less: net decrease in cash from discontinued operations | $0 | $0 | ($44.4M) | ($44.4M) |
| Net increase in cash and cash equivalents | $566.2M | $271.6M | $969.9M | $495.6M |
| Cash and cash equivalents at beginning of the period | $2.5B | $2.5B | $697.0M | $697.0M |
| Cash and cash equivalents at end of the period | $3.1B | $2.8B | $1.7B | $1.2B |
| Non-cash consideration received from divestiture | $0 | — | $285.0M | $285.0M |
| Transaction cost in connection with divestiture not yet paid | $0 | — | — | $17.4M |
| Right-of-use assets obtained in exchange for lease obligations, net of modifications | $60.3M | $58.0M | ($26.2M) | ($33.2M) |
| Repurchases of common stock included in accrued liabilities | $18.5M | $32.1M | — | — |
| Acquisitions of software licenses not yet paid | $11.9M | — | — | — |
| Cash paid for interest | $99.7M | $1.7M | $101.0M | $99.6M |
| Cash paid for income taxes, net of refunds | $639.8M | $106.7M | $167.3M | $100.6M |
AppLovin Corp. score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.