{ "ok": true, "cik": "1751008", "ticker": "APP", "name": "AppLovin Corporation", "filings": [ { "form": "10-Q", "filed": "2026-08-05", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1751008/000175100826000059/0001751008-26-000059-index.htm" }, { "form": "8-K", "filed": "2026-08-05", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1751008/000175100826000057/0001751008-26-000057-index.htm" }, { "form": "8-K", "filed": "2026-06-05", "items": [ "5.07 Submission of Matters to a Vote of Security Holders" ], "url": "https://www.sec.gov/Archives/edgar/data/1751008/000175100826000050/0001751008-26-000050-index.htm" }, { "form": "10-Q", "filed": "2026-05-06", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1751008/000175100826000044/0001751008-26-000044-index.htm" }, { "form": "8-K", "filed": "2026-05-06", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/1751008/000175100826000042/0001751008-26-000042-index.htm" }, { "form": "DEF 14A", "filed": "2026-04-21", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/1751008/000175100826000028/0001751008-26-000028-index.htm" } ], "events12m": 6, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 1, "latest": { "filed": "2026-04-07", "url": "https://www.sec.gov/Archives/edgar/data/1751008/000175100826000014/0001751008-26-000014-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001751008.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1751008" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up AppLovin Corporation ($APP). Last filing: 10-Q, 2026-08-05. 6 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-12-31", "revenue": 5480717000, "revenueGrowth1y": 0.6999436734698941, "revenueGrowthPerYear": 0.1835526106181118, "yearsOfData": 5, "operatingMargin": 0.757549422821868, "operatingMarginPrior": 0.5927176248069979, "netMargin": 0.6082691370490394, "operatingCashFlow": 3971094000, "capitalSpending": null, "freeCashFlow": null, "researchAndDevelopment": 226510000, "researchShareOfRevenue": 0.041328534204557545, "cash": 2487096000, "longTermDebt": 3512987000, "longTermDebtChange": 0.0011410713588524413, "revenueHistory": [ { "fiscalYearEnd": "2021-12-31", "revenue": 2793104000 }, { "fiscalYearEnd": "2022-12-31", "revenue": 2817058000 }, { "fiscalYearEnd": "2023-12-31", "revenue": 1841762000 }, { "fiscalYearEnd": "2024-12-31", "revenue": 3224058000 }, { "fiscalYearEnd": "2025-12-31", "revenue": 5480717000 } ], "totalEquity": 2134671000, "totalAssets": 7259610000, "equityRatio": 0.29404761412803165, "returnOnEquity": 1.5617165361781746, "dividendsPaid": null, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 9.84, "sharesOutstanding": 341970000, "bookValuePerShare": 6.242275638213878, "revenuePerShare": 16.02689417200339, "range80": { "low": 4725926336.381714, "high": 13191380003.1145, "baseline": 8079466942.789051, "n": 4599, "band": "b1", "bandLabel": "$1B–10B", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.46979265013329463, "classVolatility": 0.07701947805587882, "volatility": 0.33662823271322934 }, "ifPaceHeld": { "low": 4725926336.381714, "high": 13191380003.1145 } }, "edgarette": "🔖 Exposure: revenue $5.5B (FY2025), total debt $3.5B. Experience: revenue up 70.0% on the year, up 18.4% a year over 4 years; operating margin 75.8%, up from 59.3%. Soundness: equity 29.4% of assets, return on equity 156.2%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $4.7B and $13.2B next year (method v4.1: its own 4-year record of growth weighed at 50% against $1B–10B filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $3.2B to $19.2B. A statistical range, not company guidance. Against peers (40 filers, $50M+ revenue, services-computer programming, data processing, etc.): operating margin 75.8% against a 2.9% median; growth 70.0% against 5.7%.", "peers": { "sic": 7370, "sicDescription": "Services-Computer Programming, Data Processing, Etc.", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7370", "growth": [ 0.0568, 39 ], "opMargin": [ 0.0291, 40 ], "equityRatio": [ 0.4464, 38 ], "returnOnEquity": [ 0.0457, 30 ] }, "summary": "AppLovin (APP) grew revenue 70.0% in FY2025 to $5.5 billion, operating margin 75.8% against a 2.9% median for services-computer programming, data processing, etc., equity 29.4% of assets. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
AppLovin Corporation against its own record and its peers
Operating marginPeer median 2.9%75.8%Revenue, on the yearPeer median 5.7%70.0%Equity of assetsPeer median 44.6%29.4%Return on equityPeer median 4.6%156.2%Gold tick: the median of 30–38 peers with $50M+ revenue in services-computer programming, data processing, etc.
", "chartHorizon": null, "backtest": { "tests": 3, "hits": 1, "rate": 0.3333333333333333, "method": "v4", "byYear": { "2023": [ 0, 1 ], "2024": [ 0, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:04:40.470Z", "hash": "c67cd7245a157038", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "AppLovin (APP) grew revenue 70.0% in FY2025 to $5.5 billion, operating margin 75.8% against a 2.9% median for services-computer programming, data processing, etc., equity 29.4% of assets. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-12-31", "revenue": 5480717000, "totalDebt": 3512987000, "cash": 2487096000 }, "experience": { "revenueGrowth1y": 0.6999436734698941, "revenueGrowthPerYear": 0.1835526106181118, "operatingMargin": 0.757549422821868, "operatingMarginPrior": 0.5927176248069979, "netMargin": 0.6082691370490394, "freeCashFlow": null }, "soundness": { "equityRatio": 0.29404761412803165, "returnOnEquity": 1.5617165361781746, "payoutRatio": null, "dividendPerShare": null, "dividendYearsRising": null, "dividendCut": null, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 7370, "sicDescription": "Services-Computer Programming, Data Processing, Etc.", "calendarYear": 2025, "minRevenue": 50000000, "depth": 4, "group": "7370", "growth": [ 0.0568, 39 ], "opMargin": [ 0.0291, 40 ], "equityRatio": [ 0.4464, 38 ], "returnOnEquity": [ 0.0457, 30 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "5.02", "label": "Director or officer change", "count": 1, "latest": { "filed": "2026-04-07", "url": "https://www.sec.gov/Archives/edgar/data/1751008/000175100826000014/0001751008-26-000014-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 4725926336.381714, "high": 13191380003.1145, "baseline": 8079466942.789051, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 4599, "sizeBand": "$1B–10B", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.46979265013329463, "classVolatility": 0.07701947805587882, "pricedVolatility": 0.33662823271322934, "k": 3 }, "stress": { "low": 3248447828.7168417, "high": 19198111155.436768, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 3, "hits": 1, "rate": 0.3333333333333333, "method": "v4", "byYear": { "2023": [ 0, 1 ], "2024": [ 0, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:04:40.470Z", "hash": "c67cd7245a157038", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0001751008.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1751008" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.7246, "growth3y": 0.2484, "volatility": 0.4698, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.294, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "later", "inside": "Turns 72.5% of revenue into operating cash; revenue growing 24.8% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 99th percentile for cash, 91st for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 99, "growthPctInClass": 91, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "range", "text": "revenue is hard to predict: its 80% range is ±47%" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 3971094000, "investing": 358428000, "financing": -2593069000, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 361851000, "free": 360461000 }, { "fiscalYearEnd": "2022-12-31", "operating": 412773000, "free": 412111000 }, { "fiscalYearEnd": "2023-12-31", "operating": 1061510000, "free": 1057264000 }, { "fiscalYearEnd": "2024-12-31", "operating": 2099011000, "free": 2094235000 }, { "fiscalYearEnd": "2025-12-31", "operating": 3971094000, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 2487096000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 7259610000, "ladder": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.7246, "growth3y": 0.2484, "volatility": 0.4698, "paysDividend": false, "raisedDividend": false, "equityRatio": 0.294, "quadrant": { "code": "fj", "label": "Fast and jumpy", "plain": "growing faster than its size class, with revenue that swings more" }, "compass": { "code": "later", "inside": "Turns 72.5% of revenue into operating cash; revenue growing 24.8% a year over three years; no common dividend.", "outside": "Among $1B-10B companies: 99th percentile for cash, 91st for growth.", "emoji": "🌱", "label": "Cash cow later", "plain": "growing fast, and already turning revenue into cash" }, "band": "$1B-10B", "cashPctInClass": 99, "growthPctInClass": 91, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "range", "text": "revenue is hard to predict: its 80% range is ±47%" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-12-31", "operating": 3971094000, "investing": 358428000, "financing": -2593069000, "capitalSpending": null, "free": null, "trend": [ { "fiscalYearEnd": "2021-12-31", "operating": 361851000, "free": 360461000 }, { "fiscalYearEnd": "2022-12-31", "operating": 412773000, "free": 412111000 }, { "fiscalYearEnd": "2023-12-31", "operating": 1061510000, "free": 1057264000 }, { "fiscalYearEnd": "2024-12-31", "operating": 2099011000, "free": 2094235000 }, { "fiscalYearEnd": "2025-12-31", "operating": 3971094000, "free": null } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-12-31", "cash": 2487096000, "shortTerm": null, "longTerm": null, "equityHoldings": null, "totalAssets": 7259610000, "ladder": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }