AppLovin Corporation
- Open
- 427.03
- Day high
- 431.39
- Day low
- 413.67
- Prev close
- 434.48
- Volume
- 5.6M
- Mkt cap
- $142.6B
- P/E (TTM)
- 36.2
- EPS (TTM)
- $11.72
- P/B
- 60.3
- P/S
- 23.1
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$182.6M over the last 3 months (0 open-market buys, 163 sales)
- 🏛Institutions mixed (13F)
AppLovin Corporation (APP) is a Technology company listed on NASDAQ. The stock is up 16% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 163 sales (SEC Form 4).
AppLovin Corporation (APP) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 10 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
APP earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $3.44 | $3.56 | +3.5% | $1.8B | +3.9% |
| Feb 11, 2026 | $2.95 | $3.24 | +9.8% | $1.7B | +2.8% |
| Nov 5, 2025 | $2.38 | $2.45 | +2.9% | $1.4B | +4.7% |
| Aug 6, 2025 | $1.96 | $2.26 | +15.3% | $1.3B | +2.8% |
| May 7, 2025 | $1.44 | $1.67 | +16.0% | $1.5B | +7.5% |
| Feb 12, 2025 | $1.12 | $1.73 | +54.5% | $1.4B | +8.8% |
| May 8, 2024 | $0.57 | $0.67 | +17.5% | $1.1B | +8.7% |
| Feb 14, 2024 | $0.35 | $0.49 | +40.0% | $953M | +2.7% |
| Feb 8, 2023 | $0.05 | $-0.21 | -520.0% | $702M | +1.7% |
| Nov 9, 2022 | $0.07 | $0.06 | -14.3% | $713M | -2.1% |
| Aug 10, 2022 | $0.15 | $-0.06 | -140.0% | $776M | -5.3% |
| May 11, 2022 | $-0.04 | $0.18 | +608.6% | $625M | -23.3% |
APP insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 8, 2026 | WEBB MAYNARD G JRdirector | Sell | 380 | $516.25 |
| Jul 8, 2026 | WEBB MAYNARD G JRdirector | Sell | 412 | $522.42 |
| Jul 8, 2026 | WEBB MAYNARD G JRdirector | Sell | 262 | $524.12 |
| Jul 8, 2026 | WEBB MAYNARD G JRdirector | Sell | 1,140 | $523.49 |
| Jul 8, 2026 | WEBB MAYNARD G JRdirector | Sell | 240 | $519.56 |
| Jul 8, 2026 | WEBB MAYNARD G JRdirector | Sell | 120 | $521.49 |
| Jul 8, 2026 | WEBB MAYNARD G JRdirector | Sell | 138 | $520.60 |
| Jul 8, 2026 | WEBB MAYNARD G JRdirector | Sell | 202 | $517.19 |
| Jul 8, 2026 | WEBB MAYNARD G JRdirector | Sell | 182 | $518.63 |
| Jun 18, 2026 | Vivas Eduardodirector | Sell | 100 | $516.81 |
| Jun 18, 2026 | Vivas Eduardodirector | Sell | 3,754 | $495.49 |
| Jun 18, 2026 | Vivas Eduardodirector | Sell | 19,421 | $498.52 |
| Jun 18, 2026 | Vivas Eduardodirector | Sell | 6,456 | $510.43 |
| Jun 18, 2026 | Vivas Eduardodirector | Sell | 348 | $520.30 |
| Jun 18, 2026 | Vivas Eduardodirector | Sell | 153 | $494.84 |
Source: APP SEC Form 4 filings, latest Jul 8, 2026. For informational purposes only — not investment advice.
See the full APP insider & 13F page →AppLovin Corporation company profile
Overview
AppLovin Corporation (NASDAQ:APP) is a mobile advertising technology company founded in 2011 and headquartered in Palo Alto, California. The company went public in April 2021 and has rapidly evolved from a mobile gaming-focused advertising platform into a broader digital advertising technology provider. AppLovin operates a sophisticated artificial intelligence-driven platform that connects advertisers with mobile app users, leveraging machine learning to optimize ad targeting and monetization across mobile applications.
Business
AppLovin operates in the mobile advertising technology industry, providing software solutions that help mobile app developers market their applications and monetize their user base through targeted advertising. The company's core business revolves around programmatic advertising - an automated system where advertising space is bought and sold in real-time through algorithmic bidding. The company's flagship technology is AXON, an artificial intelligence-powered advertising engine that processes over 200 billion ad requests daily and serves more than 1 billion daily active users. AXON uses machine learning algorithms to match advertisers with the most relevant users, optimizing for conversion rates and return on advertising spend. AppLovin's main products include: 1. AppDiscovery - A demand-side platform that enables advertisers to acquire new users for their mobile applications through targeted advertising campaigns. This system runs real-time auctions to match advertiser demand with available advertising inventory across mobile apps. 2. MAX - A mediation platform that helps app publishers maximize their advertising revenue by running competitive auctions among multiple advertising networks. This ensures publishers receive the highest possible price for their ad inventory. 3. Adjust - An analytics and attribution platform that provides mobile marketers with tools to measure campaign performance, optimize user acquisition strategies, and protect against advertising fraud. The company operates two main business segments: the Software Platform (approximately 73% of revenue) which includes the advertising technology solutions, and the Apps segment (approximately 27% of revenue) which consists of mobile gaming applications that AppLovin owns and operates. However, the company announced plans to divest its Apps business in 2024 to focus entirely on its higher-margin advertising technology platform.
Revenue model
AppLovin generates revenue primarily through its advertising technology platform, operating on a performance-based model where the company takes a percentage of advertising spend that flows through its systems. When advertisers run campaigns through AppLovin's platform, the company retains a portion of the advertising dollars as its fee, typically earning revenue when users engage with ads or complete desired actions like app installations. The company's customers include mobile app developers, gaming companies, e-commerce businesses, and digital marketing agencies who pay AppLovin to acquire new users or monetize their existing user base. On the supply side, AppLovin works with app publishers who provide advertising inventory within their applications. Revenue streams include: 1. Advertising commissions - AppLovin earns a percentage of the advertising spend that flows through its platform, with typical take rates varying based on the service provided and client relationship. 2. Software licensing fees - Some clients pay subscription or usage-based fees for access to AppLovin's analytics and optimization tools. 3. In-app purchases and advertising - Revenue from the company's own mobile gaming applications, though this segment is being divested. Several factors influence AppLovin's profitability margins. Positive factors include the company's technological moat through its AXON AI system, which becomes more effective as it processes more data, creating a virtuous cycle of improved performance and higher advertiser demand. The scalable nature of software platforms means incremental revenue often flows through at high margins, with management reporting approximately 80% flow-through rates on additional revenue. Negative margin pressures include increased competition from other advertising technology platforms, potential changes in mobile operating system privacy policies that could limit data collection, and the need for continuous investment in AI and machine learning capabilities to maintain technological leadership. Additionally, economic downturns can reduce overall digital advertising spending, impacting the entire industry.
Competitive moat
AppLovin possesses a relatively strong competitive moat built primarily around its proprietary artificial intelligence technology and network effects. The company's AXON platform represents a significant technological advantage, processing massive amounts of data daily to continuously improve its machine learning models. This creates a self-reinforcing cycle where better performance attracts more advertisers and publishers, generating more data that further enhances the AI's effectiveness. The company's moat is strengthened by several factors: First, the complexity and scale of AppLovin's machine learning infrastructure would be difficult and expensive for competitors to replicate. Second, the platform benefits from strong network effects - as more advertisers and publishers join the platform, it becomes more valuable for all participants due to increased liquidity and better matching capabilities. Third, AppLovin has built deep integrations with mobile app developers and established relationships that create switching costs. However, the moat faces potential threats from several directions. Large technology companies like Google, Facebook (Meta), and Amazon possess substantial resources and could develop competing advertising technologies. Changes in mobile operating system privacy policies, particularly from Apple and Google, could disrupt data collection capabilities that fuel AppLovin's AI advantage. Additionally, the company operates in a rapidly evolving technological landscape where new advertising formats, measurement techniques, or regulatory changes could diminish existing advantages. The strength of AppLovin's moat appears moderate to strong in the near term, supported by technological leadership and network effects, but requires continuous innovation and adaptation to maintain its competitive position against well-funded technology giants and evolving industry dynamics.
Risks & safety
AppLovin demonstrates a solid financial position with moderate margin of safety considerations: • Liquidity and Solvency: Strong cash position with $551 million in cash and short-term investments as of Q1 2025. Current ratio of 1.68 indicates adequate short-term liquidity. The company generates substantial free cash flow ($831 million in Q1 2025), providing financial flexibility. • Debt Levels: High debt-to-equity ratio of 6.45 raises some concern, though this is partially offset by strong cash generation and the company's asset-light business model. • Valuation Metrics: Trading at premium valuations with P/E ratio of 39.1 and EV/EBITDA of 31.0, suggesting limited margin of safety from a valuation perspective. However, strong growth rates (40% revenue growth) may justify higher multiples. • Profitability: Exceptional profitability metrics with 68% EBITDA margins and strong return on equity of 100%, indicating efficient capital utilization. • Business Model Risk: Revenue concentration in mobile advertising creates exposure to platform policy changes and economic cycles affecting advertising spend.
Recent development
Over the past few years, AppLovin has undergone significant strategic transformation, evolving from a mobile gaming-focused company to a broader advertising technology platform. The most notable development has been the company's expansion beyond mobile gaming into e-commerce and web advertising, with management reporting that web advertising is approaching a $1 billion run rate with over 600 advertisers by Q1 2025. Key strategic initiatives include the development of self-service advertising tools to democratize access to the platform, moving away from the traditional managed service model. The company has been investing heavily in generative AI capabilities for automated ad creation and personalization, building on its core AXON technology platform. A major strategic pivot occurred with AppLovin's decision to divest its Apps (mobile gaming) business, signing a definitive agreement to sell this segment to Tripledot Studios for $900 million. This allows the company to focus entirely on its higher-margin advertising technology business, which generates significantly better returns. The company has also been expanding its technological capabilities through acquisitions and internal development, including the integration of Adjust analytics platform and the development of new attribution and measurement tools for web advertising. Management has emphasized building a more automated, AI-driven platform that can serve the long tail of advertisers without requiring extensive human intervention. Recent quarters have shown AppLovin successfully executing on its expansion strategy, with e-commerce advertising contributing meaningfully to revenue growth and the company maintaining its target of 20-30% long-term growth rates while achieving exceptional profitability margins exceeding industry norms.
APP company profile · for informational purposes only — not investment advice.
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