AppLovin Corp (APP) operating KPIs

APPNasdaqServices-Computer Programming, Data Processing, Etc.Fiscal year ends December 31

Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026Score 17/3053% below fair value

$228.50−26.41 (-10.36%)

Close on Oct 30, 2026Market cap $76.47BP/E 17.6Yield –

KPIs

Operating metrics that drive AppLovin's business · fiscal year ends December 31

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Metric	Q3 2026 2026-09-30	Q2 2026 2026-06-30	Q1 2026 2026-03-31	Q4 2025 2025-12-31	Q3 2025 2025-09-30	Q2 2025 2025-06-30	Q1 2025 2025-03-31	Q4 2024 2024-12-31	Q3 2024 2024-09-30	Q2 2024 2024-06-30	Q1 2024 2024-03-31	Q4 2023 2023-12-31

Axon Ads Manager / AppLovin Ads — Net Revenue per Installation growth y/y (stated, Q1–Q3 & FY)(%)1		58.0%	93.0%		75.0%	70.0%	49.0%		22.0%	7.0%	5.0%
Net Revenue per Installation YTD (6M / 9M) growth y/y (stated in Q2 & Q3 10-Q)(%)		75.0%			64.0%	59.0%			11.0%	6.0%
Axon Ads Manager / AppLovin Ads — Installation Volume growth y/y (stated, Q1–Q3 & FY)(%)1		-2.0%	-18.0%		-1.0%	8.0%	22.0%		39.0%	77.0%	87.0%
Installation Volume YTD (6M / 9M) growth y/y (stated in Q2 & Q3 10-Q)(%)		-10.0%			9.0%	15.0%			64.0%	82.0%
Continuing Operations (Advertising) Revenue — Restated 14-Quarter Series($M)2		1,924	1,842	1,658	1,405	1,259	1,159	1,000	835	711	678	577
Quarterly Revenue Guidance — Low End (extends to Q3 2026)($M)	2,055	1,915	1,745	1,570	1,320	1,195	1,030	1,240	1,115	1,060	955	910
Quarterly Revenue Guidance — High End (extends to Q3 2026)($M)	2,085	1,945	1,775	1,600	1,340	1,215	1,050	1,260	1,135	1,080	975	930
Adjusted EBITDA — Continuing Operations (Advertising)($M)5		1,614	1,557	1,399	1,158	1,018	938	770	647	511	484	411
Adjusted EBITDA Margin — Continuing Operations (stated)(%)		84.0%	85.0%	84.0%	82.0%	81.0%	81.0%	77.0%	77.0%	72.0%	71.0%	71.0%
Quarterly Adjusted EBITDA Guidance — Low End (extends to Q3 2026)($M)	1,710	1,615	1,465	1,290	1,070	970	805	740	630	550	475	420
Quarterly Adjusted EBITDA Guidance — High End (extends to Q3 2026)($M)	1,740	1,645	1,495	1,320	1,090	990	825	760	650	570	495	440
Quarterly Adjusted EBITDA Margin Guidance — Low End (extends to Q3 2026)(%)	83.0%	84.0%	84.0%	82.0%	81.0%	81.0%	63.0%	60.0%	57.0%	52.0%	50.0%	46.0%
Quarterly Adjusted EBITDA Margin Guidance — High End (extends to Q3 2026)(%)	83.0%	85.0%	84.0%	83.0%	81.0%	81.0%	64.0%	60.0%	57.0%	53.0%	51.0%	47.0%
Net Income from Continuing Operations — Restated 14-Quarter Series($M)1		1,267	1,206	1,102	836	772	724	596	433	301	259	189
Net Margin from Continuing Operations (stated)(%)		66.0%	65.0%	66.0%	59.0%	61.0%	62.0%	60.0%	52.0%	42.0%	38.0%	33.0%
Free Cash Flow (AppLovin Non-GAAP definition: OCF less CapEx & Server Finance Lease Principal)($M)2		863	1,287	1,309	1,049	768	826	695	545	446	388	340
Principal Payments of Server Finance Leases (deducted in AppLovin FCF)($M)		4.30	4.23	4.39	4.32	4.12	5.84	5.35	5.48	5.09	4.96	3.98
Purchases of Property and Equipment (deducted in AppLovin FCF)($M)		1.43	0.41	0.19	0.10	0.04	0.14	0.49	0.13	3.93	0.23	0.24
Legacy Apps Business — Monthly Active Payers (MAPs, legacy — divested June 30, 2025)(M)1							1.50	1.60	1.50	1.60	1.80	1.80
Legacy Apps Business — Average Revenue Per Monthly Active Payer (ARPMAP, legacy)($)							52	52	52	52	49	47

Significant Segment Expenses — Datacenter & Cloud Compute Costs (ASU 2023-07)($M)4		181	162	150	141	129	122	121	88.0	89.8	94.1
Significant Segment Expenses — Personnel-Related Expenses (excl. SBC)($M)		52.0	51.5	51.3	50.0	50.8	55.2	63.0	65	70.4	61.3
Significant Segment Expenses — Other Segment Operating Expenses (professional, facilities, marketing, software)($M)		15.7	29.0	38.4	72.9	78.1	42.9	55.4	29.8	33.7	37.6
Significant Segment Expenses — Amortization, Depreciation and Write-Offs($M)		32.6	33.7	34.4	33.3	31.1	32.0	33.0	32.4	31.8	31.6
Significant Segment Expenses — Stock-Based Compensation (Continuing Operations)($M)		85.8	83.5	68.1	46.2	34.6	59.1	83.0	82.9	92.6	98.9
$1.3B 3-Year Cloud Computing Commitment — Cumulative Payments Made (period end)($M)2		954	780	579	485	354	229	107	0
Quarterly Cash Spend Towards $1.3B Cloud Commitment (period split from cumulative payments)($M)		173	201	94.2	131	125	121	107
Contracted 3-Year Cloud Computing Minimum Commitment (amended August 2024)($M)		1,300	1,300	1,300	1,300	1,300	1,300	1,300	1,300

AppLovin Equity Method Investment in Tripledot — Carrying Value($M)3		290	289	288	285	285
Tripledot Ordinary Shares Held by AppLovin(M)		597	597	597	597	597
AppLovin Ownership Share of Tripledot Outstanding Ordinary Shares(%)		22.0%	22.0%	22.0%	22.0%	22.0%
AppLovin Net Advertising Revenue Recognized from Tripledot (Related-Party Advertiser Spend net of Publisher Payouts)($M)		18	24.8

Monthly Share Repurchases — Class A Shares Repurchased (thousands)1
Ending Common Shares Outstanding (Class A + Class B)(M)		335	336	338	339	339	338	340	335	334	329	340
Stock-Based Compensation by Function — Research and Development (Continuing Operations)($M)3		52.1	50.0	36.1	24.8	19.6	34.0	51.7	52.9	60.4	64.7
Stock-Based Compensation by Function — General and Administrative($M)		18.8	17.7	22.9	12.9	8.27	14.0	12.2	11.3	11.3	11.4
Stock-Based Compensation by Function — Sales and Marketing($M)		14.9	15.7	9	8.37	6.62	10.1	18.0	17.5	19.7	21.7
Stock-Based Compensation by Function — Cost of Revenue($M)		0.04	0.06	0.11	0.12	0.10	1.10	1.22	1.20	1.24	1.14
Acquired Intangible Asset Amortization Expense — Total Continuing Operations($M)2		25.6	25.7	25.9	25.4	23.4	22.8	23.1	23.2	23.3	23.2
Intangible Asset Amortization — Sales and Marketing (Customer Relationships)($M)		13.6	13.9	13.9	13.9	13.8	13.5	13.7	13.7	13.6	13.6
Intangible Asset Amortization — Cost of Revenue (Developed Technology)($M)		12.0	11.8	12.0	11.5	9.56	9.30	9.40	9.52	9.75	9.55

U.S. Quarterly Retail E-Commerce Sales (Census ECOMSA)($M)1		340,244	327,861	317,999	310,817	303,284	297,701	300,329	295,249	288,822	283,038	276,781
E-Commerce Share of Total U.S. Retail Sales (Census ECOMPCTSA)(%)		17.1%	17.0%	16.7%	16.4%	16.3%	16.0%	16.2%	16.2%	16.1%	15.9%	15.5%
U.S. Private Fixed Investment in Software (BEA B985RC1Q027SBEA, seasonally adjusted annual rate)($M)		809,265	790,777	774,944	762,757	744,664	722,980	705,314	694,474	680,288	663,871	650,531

Revenue by Geography — United States (from DB)($M)1		990	907	865	688	658	616	526	425	390	635	577
Revenue by Geography — Rest of the World / Non-U.S. (from DB)($M)		934	935	793	717	600	543	996	410	321	424	376
Total Revenue (GAAP, from DB)($M)7		1,924	1,842	1,658	1,405	1,259	1,159	1,000	835	711	1,058	953
Cost of Revenue($M)		226	204	184	175	155	152	153	121	122	294	274
Research and Development Expense($M)		99.9	94.1	82.2	43.9	44	56.4	106	80.8	99.1	155	151
Sales and Marketing Expense($M)		63.4	60.8	48.8	48.6	46.9	59.4	62	63	67	227	223
General and Administrative Expense($M)		40.3	44	68.2	58.8	55	51.5	49.9	36.2	38.7	42.4	34.7
Operating Income($M)		1,494	1,440	1,275	1,079	958	840	628	534	384	340	394
Income from Continuing Operations($M)		1,267	1,206	1,102	836	772	724	596	433	301
Net Income (GAAP)($M)		1,267	1,206	1,102	836	820	576	599	434	310	236	172
Operating Cash Flow (GAAP, from DB)($M)2		869	1,291	1,314	1,053	772	832	701	551	455	393	344
Stock-Based Compensation (Cash Flow Statement)($M)		85.8	83.4	80.3	33.8	35.9	61.3	93.8	77.4	93.6	95.3	88
Share Repurchases (Cash Flow Statement)($M)		551	982	418	502	272	1,001	0.60	228	-0	752	-0
Cash and Cash Equivalents (from DB)6
Accounts Receivable, Net($M)		2,171	1,958	1,819	1,604	1,582	1,578	1,283	1,187	1,074	1,035	954
Goodwill($M)		1,519	1,523	1,540	1,541	1,539	1,640	1,458	1,852	1,822	1,827	1,497
Intangible Assets, Net($M)		356	369	397	422	448	855	473	1,024	1,102	1,198	1,293
Total Assets($M)		8,269	7,708	7,260	6,343	5,960	5,707	5,869	5,443	5,270	5,263	5,359
Long-Term Debt($M)		3,515	3,514	3,513	3,512	3,511	3,510	3,509	3,475	3,482	3,490	2,906
Total Liabilities($M)		5,106	5,344	5,125	4,869	4,792	5,131	4,779	4,504	4,455	4,502	4,103

Italic numbers are calculated by StockData from reported figures (hover for the formula). Numbers with a dotted underline are read from the text of earnings releases and presentations; hover to see the exact sentence. Tick a row to add it to the chart above (up to 8 lines).

Methodology and excluded metrics

Latest reported company quarter: Q2 2026 (ended June 30, 2026; Form 8-K, 2Q26 Financial Update, and Form 10-Q filed August 5, 2026), with official Q3 2026 guidance ($2,055M–$2,085M revenue; $1,710M–$1,740M Adjusted EBITDA at an 83% margin) and monthly industry indicators through September 2026.
Core operational drivers (Group 1) track Axon Ads Manager / AppLovin Ads (formerly AppDiscovery) installation volume growth YoY (%) and net revenue per installation growth YoY (%) across Q1–Q3 (Form 10-Q) and Full Year (Form 10-K) from FY2021 through Q2 2026, alongside the 14-quarter restated Continuing Operations series, Non-GAAP Free Cash Flow (which deducts both CapEx and principal payments on server finance leases), and 15 quarters of financial guidance.
On June 30, 2025 (end of Q2 2025), AppLovin completed the sale of its mobile gaming Apps Business (10 studios) to Tripledot Group Holdings Limited for $430.6M in cash and 596.9M Tripledot ordinary shares (~22% ownership, carried at $290.0M at Q2 2026). Legacy Apps consumer metrics (Monthly Active Payers — MAPs, and ARPMAP) were discontinued after Q1 2025 and are preserved as legacy rows.
Group 2 presents AppLovin's AI compute and datacenter infrastructure: ASU 2023-07 disaggregated segment expenses (Datacenter Costs of $542.7M in FY2025 and $181.0M in Q2 2026 vs. cash Personnel Expenses of $207.3M in FY2025 and $52.0M in Q2 2026), cumulative and quarterly cash spend against the $1.3B 3-year cloud computing commitment signed in August 2024 ($953.5M paid through June 30, 2026), server finance leases ($212.2M gross ROU assets), and long-lived assets by country (led by Germany at $62.7M and the Netherlands at $29.7M at FY2025).
Group 3 presents self-reported audited consolidated financial statements from UK Companies House for Tripledot Group Holdings Limited (Co. #14045521, FY2022–FY2025, reported in USD, FY2025 filed October 16, 2026): Tripledot's revenue tripled from $340.8M in FY2024 to $1,027.3M in FY2025 as the acquired AppLovin studios contributed $668.9M of revenue and $10.9M of profit after tax in H2 2025, while AppLovin recognized $19.0M (H2 2025), $24.8M (Q1 2026), and $18.0M (Q2 2026) in related-party net advertising revenue from Tripledot.
No parent-only financial statements exist under U.S. GAAP (Form 10-K Item 15(a)(2) omits financial statement schedules), so no Consolidated − Parent subtraction is performed.
All figures are strictly as reported (with verbatim quotes on hover for text-extracted metrics; bound figures such as '>10 billion mobile app installs' and '>1 billion daily active users' are excluded from table cells). The only arithmetic shown is period splitting (Q4 = full year − nine months; quarterly flow = cumulative − prior cumulative), displayed in italic with the formula.

Data updated 2026-10-28.

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AppLovin Corp (APP) operating KPIs

KPIs

Every KPI on its own page

Axon Ads Manager / AppLovin Ads Volume & Pricing Drivers, Continuing Operations & Guidance (Key #1)

AI Compute & Datacenter Infrastructure, Segment Expenses (ASU 2023-07) & $1.3B Cloud Commitment

Associate & Divested Apps Acquirer: Tripledot Group Holdings Limited (UK Companies House #14045521)

Monthly Share Repurchases, Departmental SBC, Workforce, Governance & International Tax

External Industry Benchmarks — Digital Advertising, Cloud Hosting & U.S. E-Commerce (BLS / BEA / Census via FRED)

Financial & Geographic Context (from Postgres DB)