AppLovin Corporation engages in building a software-based platform for mobile app developers to enhance the marketing and monetization of their apps in the United States and internationally. The company's software solutions include AppDiscovery, a marketing software solution, which matches advertiser demand with publisher supply through auctions; Adjust, an analytics platform that helps marketers grow their mobile apps with solutions for measuring, optimizing campaigns, and protecting user data; and MAX, an in-app bidding software that optimizes the value of an app's advertising inventory by running a real-time competitive auction. Its business clients include various advertisers, publishers, internet platforms, and others. The company was incorporated in 2011 and is headquartered in Palo Alto, California.

AppLovin Corporation

Revenue

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Cost of Revenue

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Sales and Marketing

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Research and Development

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General and Administrative

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Lease Modification and Abandonment of Leasehold Improvements

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Total Costs and Expenses

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Income from Operations

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Interest Income

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Other Income, Net

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Total Other Income, Net

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Provision for Income Taxes

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Net Income

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Net Loss Attributable to Noncontrolling Interest

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Less: Net Loss Attributable to Noncontrolling Interest

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Net Income Attributable to AppLovin

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Less: Net Income Attributable to Participating Securities

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Net Income Attributable to Common Stock-Basic

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Net Income Attributable to Common Stock-Diluted

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Basic

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Total Revenues

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Cost of Sales

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Gross Profit

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Selling, General & Administrative Expenses

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Research & Development Expenses

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Other Operating Expenses

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Operating Profit

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Interest and Investment Income

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Non-Operating Income

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Income Before Provision for Income Taxes

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Consolidated Net Income

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Net Income Attributable to Minority Interests and Other

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Net Income Attributable to Preferred Dividends

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Net Income Attributable to Common Shareholders

EBIT

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Net Interest Income

Assets

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Adjusted EBT

Adjusted Funds From Operations

Income Statement	LTM	Dec '24	Dec '23	Dec '22	Dec '21	Dec '20	Dec '19	Dec '18
Total Revenues	5,520.6	4,709.2	3,283.1	2,817.1	2,793.1	1,451.1	994.1	483.4
Total Revenues %Chg	55.2%	43.4%	16.5%	0.9%	92.5%	46%	105.7%	—
Revenue
Cost of Sales	921.6	1,166.8	1,059.2	1,256.1	988.1	555.6	241.3	53.8
Cost of Revenue
Gross Profit	4,599	3,542.4	2,223.9	1,561	1,805	895.5	752.8	429.6
Gross Profit Margin	83.3%	75.2%	67.7%	55.4%	64.6%	61.7%	75.7%	88.9%
Selling, General & Administrative Expenses	721.6	1,030.3	983.3	1,101.2	1,288.6	694.2	513.5	181.7
Sales and Marketing
General and Administrative
Research & Development Expenses	380.3	638.7	592.4	507.6	366.4	180.7	45	16.3
Research and Development
Other Operating Expenses	—	—	—	—	—	82.7	—	-10.8
Lease Modification and Abandonment of Leasehold Improvements
Extinguishments of Acquisition-Related Contingent Consideration
Operating Profit	3,308.1	1,873.5	648.2	-47.8	150	-62	194.4	242.4
Income from Operations
Operating Margin	59.9%	39.8%	19.7%	-1.7%	5.4%	-4.3%	19.6%	50.2%
Interest and Investment Income	249.9	318.3	275.7	171.9	103.2	77.9	74	484.8
Interest Income
Non-Operating Income	-19.7	20.8	8	14.5	-0.5	4.2	5.8	2.1
Other Income, Net
Total Non-Operating Income	230.2	339.1	283.7	186.3	102.6	82.1	79.8	486.9
Income Before Provision for Income Taxes	3,038.5	1,576	380.6	-205.2	46.3	-135.7	126.2	-240.3
Income Before Income Taxes
Provision for Income Taxes	255.4	-3.8	23.9	-12.2	11	-9.8	7.2	19.7
Provision for Income Taxes
Consolidated Net Income	2,830.7	1,579.8	356.7	-192.9	35.3	-125.9	119	-260
Net Income
Net Income Attributable to Minority Interests and Other	—	—	—	-0.2	-0.1	-0.7	—	—
Net Loss Attributable to Noncontrolling Interest
Less: Net Loss Attributable to Noncontrolling Interest
Net Income Attributable to Preferred Dividends	—	2.7	1.8	—	3.7	—	-42.7	—
Less: Net Income Attributable to Participating Securities
Net Income Attributable to Common Shareholders	2,830.7	1,579.8	356.7	-192.7	35.4	-125.2	119	-260
Net Income Attributable to AppLovin
Basic EPS	8.4	4.7	1	-0.5	0.1	-0.6	0.4	-1.4
Diluted EPS	8.2	4.5	1	-0.5	0.1	-0.6	0.4	-1.4
Basic Weighted Average Shares Outstanding	339	336.9	352	371.6	324.8	214.9	210.9	189.5
Total Shares Outstanding	338	340	339.9	373.9	375.1	226.4	220.2	178.4
Diluted Weighted Average Shares Outstanding	343.6	347.8	362.6	371.6	342.8	214.9	212.4	189.5
EBITDA	3,598	2,322.1	1,137.2	499.3	581.1	192.9	287.2	258.5
Effective Tax Rate	8.4%	-0.2%	6.3%	6%	23.7%	7.2%	5.7%	-8.2%