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Applovin Corp (APP) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

COMMUNICATION SERVICES · Application Software · DATA UPDATED 2026-08-23

Applovin Corp (APP) operates in the Application Software industry and is headquartered in Palo Alto, United States with about 876 employees. Its market capitalization is roughly $103 billion. In the fiscal year ended 2025-12-31, APP reported $5.5B in revenue and $3.3B in net income.

AppLovin Corporation provides end-to-end artificial intelligence-powered advertising solutions for businesses in the United States and internationally. It operates through two segments, Advertising and Apps.

Interactive charts & full statements → Open the APP valuation workbench →

APP Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-31
Total Revenue$6.8B$5.5B$3.2B$1.8B$2.8B$2.8B$1.5B$994M$483M
Gross Profit$6.0B$4.8B$2.7B$1.5B$1.6B$1.8B$896M$753M$430M
Gross Margin %88.5%87.9%83.9%80.6%55.4%64.6%61.7%75.7%88.9%
Operating Income (EBIT)$5.3B$4.2B$1.9B$772M($48M)$150M($62M)$194M$242M
Operating Margin %77.4%75.8%59.3%41.9%-1.7%5.4%-4.3%19.6%50.2%
Net Income$4.4B$3.3B$1.6B$357M($193M)$35M($125M)$119M($260M)
Net Margin %64.6%60.8%49.0%19.4%-6.8%1.3%-8.6%12.0%-53.8%
EBITDA$5.5B$4.4B$2.4B$1.3B$514M$581M$197M$293M$248M
Earnings Per Share (EPS)$13.00$9.75$4.54$0.99$-0.52$0.10$-0.58$0.56$-1.37
Shares Outstanding (M)338M342M348M363M372M343M215M212M190M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

APP Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Total Revenue$1.9B$1.8B$1.7B$1.4B$1.3B$1.2B$1.4B$835M
Gross Profit$1.7B$1.6B$1.5B$1.2B$1.1B$1.0B$1.1B$714M
Gross Margin %88.3%88.9%88.9%87.6%87.7%86.9%76.7%85.5%
Operating Income (EBIT)$1.5B$1.4B$1.3B$1.1B$958M$840M$608M$534M
Operating Margin %77.7%78.1%76.9%76.8%76.1%72.5%44.3%64.0%
Net Income$1.3B$1.2B$1.1B$836M$820M$576M$599M$434M
Net Margin %65.8%65.4%66.5%59.5%65.1%49.7%43.6%52.0%
EBITDA$1.6B$1.5B$1.3B$1.1B$982M$927M$737M$642M
Earnings Per Share (EPS)$3.75$3.56$3.24$2.45$2.39$1.67$1.73$1.25
Shares Outstanding (M)338M339M340M341M342M345M346M348M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

APP Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-31
Cash from Operations (CFO)$4.5B$4.0B$2.1B$1.1B$413M$362M$223M$198M$139M
Capital Expenditures (CapEx)$28M$28M$5M$4M$1M$5M$3M$3M$1M
Free Cash Flow (FCF)$4.5B$3.9B$2.1B$1.1B$412M$356M$220M$195M$138M
FCF Margin %65.9%71.9%65.0%57.4%14.6%12.8%15.1%19.6%28.5%
Dividends Paid$3M$484M$3M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

APP Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Cash from Operations (CFO)$869M$1.3B$1.3B$1.1B$772M$832M$701M$551M
Capital Expenditures (CapEx)$0M$0M$28M$0M$0M$0M$5M$3M
Free Cash Flow (FCF)$869M$1.3B$1.3B$1.1B$772M$832M$696M$548M
FCF Margin %45.2%70.1%77.5%75.0%61.4%71.8%50.7%65.5%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

APP Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-31
Total Assets$8.3B$7.3B$5.9B$5.4B$5.8B$6.2B$2.2B$1.2B$537M
Cash & Cash Equivalents$3.1B$2.5B$741M$502M$1.1B$1.5B$317M$396M$276M
Total Liabilities$5.1B$5.1B$4.8B$4.1B$3.9B$4.0B$2.3B$1.5B$915M
Total Debt (Short + Long-Term)$3.5B$3.5B$3.5B$3.1B$3.2B$3.3B$1.6B$1.2B$0M
Total Shareholders' Equity$3.2B$2.1B$1.1B$1.3B$1.9B$2.1B($159M)($257M)($378M)

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive APP viewer.

APP Metric Deep Dives

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