# AppLovin (APP) Q2 2026 earnings

Results filed 2026-08-05 for the quarter ended 2026-06-30. Source page: https://earnings.opennash.com/companies/app/2026-q2/
Press release and exhibits: https://www.sec.gov/Archives/edgar/data/1751008/000175100826000057/0001751008-26-000057-index.htm
> Summaries and transcripts are machine-generated and can contain errors.

## In brief

AppLovin reported second quarter 2026 revenue of $1,924 million, up 53%, net income of $1,267 million, up 55%, and Adjusted EBITDA of $1,614 million, up 58%.

AppLovin's advertising platform grew quickly in the second quarter of 2026. Revenue was $1,924 million, up 53% from a year ago. Net income was $1,267 million, up 55%, a 66% net margin. Adjusted EBITDA, a non-GAAP profit measure, was $1,614 million, an 84% margin. Free Cash Flow was $863.3 million. The company repurchased and withheld 1.1 million shares for $551.3 million and ended the quarter with $3,053,306 thousand in cash.
For the third quarter of 2026, management guided revenue to $2,055 million to $2,085 million and Adjusted EBITDA to $1,710 million to $1,740 million, an 83% margin. That points to continued growth, though the 83% margin is slightly below this quarter's 84%. The main risks the company lists are forecasting difficulty, competition in advertising, the macroeconomy and keeping up with new technologies. No call transcript was provided, so management commentary is not covered.

## Key numbers

| Metric | Value | Change | Basis |
| --- | --- | --- | --- |
| Revenue | $1,924 | up 53% from a year ago | GAAP |
| Net income | $1,267 | up 55% from a year ago | GAAP |
| Diluted EPS | $3.76 | up from $2.39 a year ago | GAAP |
| Income from operations | 1,494,277 | up from 957,682 a year ago | GAAP |
| Net cash from operating activities | $869.0 million |  | GAAP |
| Free Cash Flow | $863.3 million |  | non-GAAP |
| Adjusted EBITDA | $1,614 | up 58% from a year ago | non-GAAP |
| Adjusted EBITDA margin | 84% | up from 81% a year ago | non-GAAP |

## Segments and operating metrics

| Name | Value | Change |
| --- | --- | --- |
| Six-month revenue | $3,766 | up 56% |
| Six-month net income | $2,472 | up 77% |
| Cash and cash equivalents | $3,053,306 | up from $2,487,096 at December 31, 2025 |
| Share repurchases and withholdings, total cost | $551.3 million |  |
| Shares outstanding | 335 million |  |

## Outlook

| Metric | Period | Outlook |
| --- | --- | --- |
| Revenue (USD millions) | third quarter of 2026 | $2,055 | $2,085 |
| Adjusted EBITDA (USD millions) | third quarter of 2026 | 1,710 | 1,740 |
| Adjusted EBITDA margin | third quarter of 2026 | 83% | 83% |

## Key takeaways

1. **Revenue grew 53% to $1,924 million** Second quarter 2026 revenue was $1,924 million versus $1,259 million a year ago. Six-month revenue was $3,766 million, up 56%.
2. **Adjusted EBITDA margin reached 84%** Adjusted EBITDA was $1,614 million, up 58%, against an 81% margin a year ago. Net income was $1,267 million, a 66% net margin.
3. **Cash generation stayed strong** Net cash from operating activities was $869.0 million and Free Cash Flow was $863.3 million. Cash and cash equivalents rose to $3,053,306 thousand from $2,487,096 thousand at year end.
4. **Buybacks continued at $551.3 million** AppLovin repurchased and withheld 1.1 million shares for $551.3 million. Shares outstanding were 335 million at quarter end.
5. **Third quarter guidance implies further growth** Management guided revenue to $2,055 million to $2,085 million and Adjusted EBITDA to $1,710 million to $1,740 million. The guided Adjusted EBITDA margin is 83%, versus 84% this quarter.

## Questions

**What were AppLovin's headline results for Q2 2026?** Revenue was $1,924 million, up 53% from a year ago. Net income was $1,267 million, up 55%, with diluted EPS of $3.76.
**What is AppLovin's third quarter 2026 guidance?** Revenue is guided to $2,055 million to $2,085 million and Adjusted EBITDA to $1,710 million to $1,740 million. The Adjusted EBITDA margin is guided to 83%.
**How profitable was AppLovin in Q2 2026?** Adjusted EBITDA was $1,614 million, an 84% margin versus 81% a year ago. The net margin was 66%.
**How much cash did AppLovin generate and return to shareholders?** Net cash from operating activities was $869.0 million and Free Cash Flow was $863.3 million. The company repurchased and withheld 1.1 million shares for $551.3 million.
**What is AppLovin's balance sheet position?** At June 30, 2026, cash and cash equivalents were $3,053,306 thousand and long-term debt was $3,515,072 thousand. Total stockholders' equity was $3,163,016 thousand.

## Slides and investor documents

- [Financial Update](https://s21.q4cdn.com/165405286/files/doc_financials/2026/q2/Financial-Update-Q2-2026.pdf) (Slide deck)
- [Transcript](https://s21.q4cdn.com/165405286/files/doc_financials/2026/q2/Q2-2026-AppLovin-Earnings-Presentation.pdf) (Company's official transcript)
- [Webcast](https://s21.q4cdn.com/165405286/files/doc_financials/2026/q2/2026-Q2-Earnings-Call-w-QandA-02-Final-720.mp4) (Webcast replay)
- [10-Q](https://d18rn0p25nwr6d.cloudfront.net/CIK-0001751008/6d342606-71ad-4f30-891c-39ec65255384.pdf) (Document)