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NasdaqGS · Technology · Financials

AppLovin Corporation (APP) financial statements and cash flow.

Revenue, profitability, balance-sheet strength, and cash generation for APP. Market data source · as of 2026-06-30.

Section freshness

Price Aug 18, 4:00 PM EDT · Statements Jun 29, 8:00 PM EDT

Financial read

APP latest financial snapshot.

Start with the latest reported values below. Deeper quarterly and annual statement tables follow when supplied.

Revenue

$1.92B

+52.8% YoY

Net income

$1.27B

+5.1% QoQ

Net margin

65.84%

Operating margin 77.68%

Balance sheet coverage

APP balance sheet summary

Assets, liabilities, liquidity, debt, and equity sit beside income and cash-flow tables so the statement history reads as one model-ready dataset.

20 quarterly · 4 annual rows · Market data source · as of 2026-06-30

Open balance sheet table

Latest period

Q2 FY2026

20 quarterly · 4 annual rows

Assets / liabilities

$8.27B

Liabilities $5.11B

Cash / debt

$3.05B

Net cash -$461.77M

Equity / working capital

$3.16B

Working capital $4.14B

Financial statements

APP statement coverage.

Income statement, balance sheet, and cash-flow figures for APP, with quarterly and annual history in the tables below.

Data last updated

Jun 29, 2026

Income periods

Balance-sheet periods

Cash-flow periods

Quarterly and annual APP statements, sourced from Market data source · as of 2026-06-30.

Financial statement period

APP statement history

Market data source · as of 2026-06-30 · Data last updated: Jun 29, 2026

ProfitabilityIncome statementRevenue, expenses, margins, and income quality20 quarterly periods Capital structureBalance sheetAssets, liabilities, debt, equity, and share count20 quarterly periods Cash generationCash flowOperating cash flow, CapEx, FCF, buybacks, and dividends20 quarterly periods

Income statement

Quarterly and annual rows for revenue, operating leverage, earnings quality, and margin direction.

8 / 20 Quarterly

Period	Revenue	Operating income	Net income	Net margin	Revenue QoQ	Net income QoQ
Q2 FY2026	$1.92B	$1.49B	$1.27B	65.84%	+4.4%	+5.1%
Q1 FY2026	$1.84B	$1.44B	$1.21B	65.44%	+11.1%	+9.4%
Q4 FY2025	$1.66B	$1.28B	$1.10B	66.48%	+18.0%	+31.9%
Q3 FY2025	$1.41B	$1.08B	$835.54M	59.47%	+11.6%	+2.0%
Q2 FY2025	$1.26B	$957.68M	$819.53M	65.11%	+8.6%	+42.2%
Q1 FY2025	$1.16B	$839.98M	$576.42M	49.74%	+87.0%	-3.8%
Q4 FY2024	$619.74M	$652.68M	$599.20M	96.69%	-25.8%	+37.9%
Q3 FY2024	$835.19M	$534.30M	$434.42M	52.01%	+17.5%	+40.1%

Balance sheet

Balance-sheet history for assets, liabilities, liquidity, debt, equity, and shares outstanding.

8 / 20 Quarterly

Period	Cash	Current assets	Current liabilities	Total assets	Total liabilities	Total debt	Total equity	Debt QoQ
Q2 FY2026	$3.05B	$5.39B	$1.25B	$8.27B	$5.11B	$3.52B	$3.16B	+0.0%
Q1 FY2026	$2.76B	$4.85B	$1.49B	$7.71B	$5.34B	$3.51B	$2.36B	+0.0%
Q4 FY2025	$2.49B	$4.43B	$1.33B	$7.26B	$5.12B	$3.51B	$2.13B	+0.0%
Q3 FY2025	$1.67B	$3.49B	$1.07B	$6.34B	$4.87B	$3.51B	$1.47B	+0.0%
Q2 FY2025	$1.19B	$2.99B	$1.09B	$5.96B	$4.79B	$3.51B	$1.17B	+0.0%
Q1 FY2025	$551.02M	$2.37B	$1.41B	$5.71B	$5.13B	$3.51B	$575.42M	+0.0%
Q4 FY2024	$697.03M	$2.31B	$1.06B	$5.87B	$4.78B	$3.51B	$1.09B	+1.0%
Q3 FY2024	$567.60M	$1.88B	$779.54M	$5.44B	$4.50B	$3.47B	$938.21M	-0.2%

Cash flow

Operating cash generation, capital expenditure, free cash flow, buybacks, dividends, and cash movement.

8 / 20 Quarterly

Period	Operating cash flow	Net income	Buybacks
Q2 FY2026	$869.04M	$1.27B	$551.23M
Q1 FY2026	$1.29B	$1.21B	$981.72M
Q4 FY2025	$1.31B	$1.10B	$417.62M
Q3 FY2025	$1.05B	$835.54M	$501.90M
Q2 FY2025	$772.23M	$819.53M	$271.52M
Q1 FY2025	$831.71M	$576.42M	$1.00B
Q4 FY2024	$701.00M	$599.20M	$625,000
Q3 FY2024	$550.70M	$434.42M	$228.45M

Valuation and returns

Enterprise value: $103.68B; TECHi computed

Return on equity: 139.42%; Market data source

Return on assets: 53.33%; Market data source

Debt / equity: 1.11; Current ratio 4.30

Ratio values use provider-attributed fields when available and otherwise fall back to TECHi statement math from the visible rows on this page.

Annual revenue and income multiples

Annual sales and income multiple reads use the latest annual statement when available, then fall back to trailing-twelve-month statement math from the visible quarterly rows.

Annual revenue base: $5.48B; Annual statement 2025-12-31

Annual income base: $3.33B; Annual statement 2025-12-31

Market cap / annual revenue: 18.83; Live market value divided by annual revenue

Market cap / annual income: 30.96; Live market value divided by annual net income

Annual sales and income multiple

EV / annual revenue18.92

EV / annual operating income24.97

Market capitalization bridge

Market cap / annual revenue18.83

Market cap / annual income30.96

TTM valuation multiples

TTM revenue: $6.83B; Trailing twelve months

TTM EBIT: $5.29B; TTM operating income

Market cap / TTM revenue: 15.11; Live market value divided by trailing twelve months revenue

EV / TTM revenue: 15.18; Enterprise value divided by trailing twelve months revenue

Live market value is matched against trailing-twelve-month statement bases first so the multiple moves with the tape instead of anchoring to stale fiscal-year rows.

Profit multiples

Market cap / TTM net income23.41

EV / TTM EBIT19.61

Revenue, net income, and free cash flow

Revenue$1.92BNet income$1.27B

Q1 FY2025Q4 FY2025Q2 FY2026

Quarterly statement rows, shown on one common dollar scale so margin compression and cash conversion stand out quickly.

Efficiency

Growth vs cost pressure

Revenue growth YoY+52.8%

Debt growth YoY+0.1%

Quarterly margin heatmap

Gross margin

Q1 FY2025

—

Q2 FY2025

—

Q3 FY2025

—

Q4 FY2025

—

Q1 FY2026

—

Q2 FY2026

—

Operating margin

Q1 FY2025

72.48%

Q2 FY2025

76.08%

Q3 FY2025

76.80%

Q4 FY2025

76.92%

Q1 FY2026

78.15%

Q2 FY2026

77.68%

Net margin

Q1 FY2025

49.74%

Q2 FY2025

65.11%

Q3 FY2025

59.47%

Q4 FY2025

66.48%

Q1 FY2026

65.44%

Q2 FY2026

65.84%

Latest quarter expense mix

Cost of revenue$225.80M

R&D$99.90M

Profit bridge

EBIT$1.49B

Pretax income$1.51B

Tax expense$238.99M

Other income statement lines

Income before tax$1.51B

Income tax expense$238.99M

Balance sheet · Q2 FY2026

Cash & equivalents: $3.05B

Total debt: $3.52B

Net cash: -$461.77M; Net debt position

Total equity: $3.16B

Balance sheet detail

Current assets: $5.39B

Current liabilities: $1.25B

Receivables: $2.17B

Long-term debt: $3.52B

Debt and liquidity

Debt / revenuei0.51

Debt / income0.80

Cash / debt0.87

Quick ratioi4.17

Cash + short-term investments + receivables / current liabilities

Cash generation

Operating cash flow: $869.04M

Capital returned: $551.23M; Buybacks + dividends paid

Cash-flow detail

Depreciation & amortization: $32.56M

Investing cash flow: -$2.44M

Financing cash flow: -$570.42M

Buybacks: $551.23M

Net buybacks: $551.23M; Repurchases less stock issuance

Frequently asked

Common questions.

What financial data is available for APP?

The APP Financials page renders only the current income-statement, balance-sheet, cash-flow, or fund rows supplied for AppLovin Corporation. Missing modules and empty line items are omitted.

How current are APP's financial statements?

Each visible statement row keeps its reported period and provider attribution. The route redirects to the main quote when no usable financial or fund data remains.

What is AppLovin Corporation's reported net margin?

AppLovin Corporation's fresh reported margin field is 64.58%. The Financials page shows the supporting period data currently available for APP.