This page is the automatic SEC-data sheet, without our valuation or commentary.
APPLOVIN CORP
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 3,513 | 62.2 |
| Stockholders' equity | 2,135 | 37.8 |
| Total capitalization | 5,648 | 100.0 |
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, incl. current maturities | 3,513 |
| Long-term debt, noncurrent | 3,513 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 1,850,000,000 |
| Common shares issued | 338,313,000 |
| Par or stated value per share ($) | 3e-05 |
| Preferred stock ($ millions) | 0 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | – | – |
| 2024 | – | – |
| 2023 | – | – |
| 2022 | – | – |
| 2021 | – | – |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware.
BUSINESS: Classified by the SEC under Standard Industrial Classification 7370, Services-Computer Programming, Data Processing, Etc.. Large accelerated filer. Principal executive office: 1100 Page Mill Rd, Palo Alto, CA 94304-1047. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 5,481 | 3,224 | 1,842 |
| Cost of revenues | 665 | 521 | 357 |
| Research and development | 227 | 375 | 334 |
| Depreciation and amortization | 195 | 449 | 489 |
| Operating income | 4,152 | 1,911 | 772 |
| Interest expense | 201 | 308 | 282 |
| Income before income taxes | 3,953 | 1,612 | 502 |
| Income taxes | 520 | 22 | 44 |
| Net income | 3,334 | 1,580 | 357 |
| Earned per share, diluted ($) | 9.75 | 4.53 | 0.98 |
| Dividends per share ($) | – | – | – |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 2,487 | 697 |
| Receivables, net | 1,819 | 1,283 |
| Total current assets | 4,431 | 2,312 |
| Property, plant and equipment, net | 122 | 160 |
| Goodwill | 1,540 | 1,458 |
| Total assets | 7,260 | 5,869 |
| Total current liabilities | 1,334 | 1,057 |
| Long-term debt | 3,513 | 3,509 |
| Total liabilities | 5,125 | 4,779 |
| Stockholders' equity | 2,135 | 1,090 |
| Total liabilities and equity | 7,260 | 5,869 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 5,481 | 4,152 | 3,334 | 60.8 | 9.75 | – | 3,971 | – | – | 7,260 | 5,125 | 3,513 | 2,135 | 156.2 | 1.65 |
| 12/31/24 | 3,224 | 1,911 | 1,580 | 49.0 | 4.53 | – | 2,099 | 5 | 2,094 | 5,869 | 4,779 | 3,509 | 1,090 | 145.0 | 3.22 |
| 12/31/23 | 1,842 | 772 | 357 | 19.4 | 0.98 | – | 1,062 | 4 | 1,057 | 5,359 | 4,103 | 3,336 | 1,256 | 28.4 | 2.66 |
| 12/31/22 | 2,817 | (48) | (193) | -6.8 | (0.52) | – | 413 | 1 | 412 | 5,848 | 3,945 | 3,245 | 1,903 | -10.1 | 1.71 |
| 12/31/21 | 2,793 | 150 | 35 | 1.3 | 0.09 | – | 362 | 1 | 360 | 6,164 | 4,025 | 3,253 | 2,138 | 1.7 | 1.52 |
| 12/31/20 | 1,451 | (62) | (125) | -8.6 | (0.58) | – | 223 | 3 | 220 | 2,155 | 2,313 | 1,599 | (159) | 79.0 | -10.09 |
| 12/31/19 | 994 | 194 | 119 | 12.0 | 0.36 | – | 198 | 3 | 195 | – | – | – | (257) | -46.4 | – |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
AppLovin Corp
CIK 1751008 · EIN 45-3264542
PRINCIPAL OFFICE:
1100 Page Mill Rd, Palo Alto, CA 94304-1047
Tel.: (800) 839-9646
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
7370 · Services-Computer Programming, Data Processing, Etc.
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 19 February 2026
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/19/26) · 10-K FY2024 (filed 2/27/25) · 10-K FY2023 (filed 2/26/24) · 10-K FY2022 (filed 2/28/23) · 10-K FY2021 (filed 3/11/22). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.