AppLovin Corp
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $5.5B | $3.2B | $1.8B | $2.8B | $2.8B |
| Cost of revenue | $665.1M | $520.6M | $356.6M | $1.3B | $988.1M |
| Research and development | $226.5M | $374.7M | $333.8M | $507.6M | $366.4M |
| Operating income | $4.2B | $1.9B | $772.4M | -$47.8M | $150.0M |
| Interest expense | $207.0M | $317.2M | $273.5M | $171.9M | $103.2M |
| Pretax income | $4.0B | $1.6B | $501.6M | -$205.2M | $46.3M |
| Income tax expense | $519.7M | $22.4M | $43.8M | -$12.2M | $11.0M |
| Net income | $3.3B | $1.6B | $356.7M | -$192.7M | $35.4M |
| Balance Sheet | |||||
| Cash and equivalents | $2.5B | $697.0M | $502.2M | $1.1B | $1.5B |
| Current assets | $4.4B | $2.3B | $1.6B | $1.9B | $3.2B |
| Total assets | $7.3B | $5.9B | $5.4B | $5.8B | $6.2B |
| Current liabilities | $1.3B | $1.1B | $944.1M | $579.0M | $640.1M |
| Total liabilities | $5.1B | $4.8B | $4.1B | $3.9B | $4.0B |
| Total debt | $3.5B | $3.5B | $3.2B | — | — |
| Stockholders' equity | $2.1B | $1.1B | $1.3B | $1.9B | $2.1B |
| Cash Flow Statement | |||||
| Cash from operations | $4.0B | $2.1B | $1.1B | $412.8M | $361.9M |
| Depreciation and amortization | $194.8M | $448.7M | $489.0M | $547.1M | $431.1M |
| Stock-based compensation | $210.4M | $369.4M | $363.1M | $191.6M | $133.2M |
| Capital expenditure | — | $4.8M | $4.2M | $662,000 | $1.4M |
| Free cash flow | — | $2.1B | $1.1B | $412.1M | $360.5M |
| Share repurchases | $2.2B | $981.3M | $1.2B | $338.9M | $0 |
| Impairments | $188.9M | $0 | $0 | $127.9M | $0 |
Shares outstanding 335.9M · Free float 65.6%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.