OpenNashEarnings

Internet & Advertising · Nasdaq: APP

AppLovin earnings: results, call transcripts & KPI history

2 quarters · fiscal year ends December · next results expected around 10 Feb 2027

Investor relations ↗SEC filings ↗KPIs as CSV

Latest: Q3 2026

AppLovin posted record third quarter earnings: net income grew 72% year-over-year to $1.44 billion on record revenue of $2.18 billion, up 55% year-over-year, with industry-leading 66% net income margin and 84% Adjusted EBITDA margin.

AppLovin had a record third quarter. Revenue was $2.18 billion, up 55% from a year ago, and net income was $1.44 billion, up 72%. Management said revenue and Adjusted EBITDA both beat the high end of its own guidance. It credited a partial rollout of its next-generation ad-targeting models, which re-accelerated mobile gaming. Free cash flow was $1.4 billion, and the board added $3.2 billion to the buyback authorization.

Read the Q3 2026 summary →Q3 2026 slides (PDF) ↗

Quarters

KPI history

Revenue$2.2B+55.5% y/yQ3 2026
Q4 2024: $999.5M (worked out from the annual figure)Q4 ’24$999.5MQ1 2025: $1.2BQ1 ’25$1.2BQ2 2025: $1.3BQ2 ’25$1.3BQ3 2025: $1.4BQ3 ’25$1.4BQ4 2025: $1.7B (worked out from the annual figure)Q4 ’25$1.7BQ1 2026: $1.8BQ1 ’26$1.8BQ2 2026: $1.9BQ2 ’26$1.9BQ3 2026: $2.2BQ3 ’26$2.2B

Fourth quarter worked out from the annual figure.

Data
Q4 2024$999.5M *
Q1 2025$1.2B
Q2 2025$1.3B
Q3 2025$1.4B
Q4 2025$1.7B *
Q1 2026$1.8B
Q2 2026$1.9B
Q3 2026$2.2B
Diluted EPS (GAAP)$4.30+75.5% y/yQ3 2026
Q1 2025: $1.67Q1 ’25$1.67Q2 2025: $2.39Q2 ’25$2.39Q3 2025: $2.45Q3 ’25$2.45Q1 2026: $3.56Q1 ’26$3.56Q2 2026: $3.76Q2 ’26$3.76Q3 2026: $4.30Q3 ’26$4.30
Data
Q1 2025$1.67
Q2 2025$2.39
Q3 2025$2.45
Q1 2026$3.56
Q2 2026$3.76
Q3 2026$4.30

Fourth-quarter EPS appears once the press release is read; filings report it only for the full year.

Operating margin78.2%+1.4 pts y/yQ3 2026
Q4 2024: 62.9%Q4 ’2462.9%Q1 2025: 72.5%Q1 ’2572.5%Q2 2025: 76.1%Q2 ’2576.1%Q3 2025: 76.8%Q3 ’2576.8%Q4 2025: 76.9%Q4 ’2576.9%Q1 2026: 78.2%Q1 ’2678.2%Q2 2026: 77.7%Q2 ’2677.7%Q3 2026: 78.2%Q3 ’2678.2%
Data
Q4 202462.9%
Q1 202572.5%
Q2 202576.1%
Q3 202576.8%
Q4 202576.9%
Q1 202678.2%
Q2 202677.7%
Q3 202678.2%
Q4 2024Q1 2025Q2 2025Q3 2025Q4 2025Q1 2026Q2 2026Q3 2026
Revenue$999.5Md$1.2B$1.3B$1.4B$1.7Bd$1.8B$1.9B$2.2B
Operating income$628.3Md$840.0M$957.7M$1.1B$1.3Bd$1.4B$1.5B$1.7B
Operating margin62.9%72.5%76.1%76.8%76.9%78.2%77.7%78.2%
Net income$599.2Md$576.4M$819.5M$835.5M$1.1Bd$1.2B$1.3B$1.4B
Diluted EPS—$1.67$2.39$2.45—$3.56$3.76$4.30
Operating cash flow$701.0Md$831.7M$772.2Md$1.1Bd$1.3Bd$1.3B$869.0Md$1.4Bd
R&D expense$105.9Md$56.4M$44.0M$43.9M$82.2Md$94.1M$99.9M$101.8M

From XBRL data in 10-Q and 10-K filings. d derived: a fourth quarter is the full year minus the first nine months, and cash flows are year-to-date figures differenced.

10-Q and 10-K filings