Applovin Corp

applovin.com

What Do They Do?

Provides advertisers with campaign tools to find app and website users, and gives app publishers ad-auction tools to monetize advertising inventory.

How Do They Make Money?

Advertisers pay fees that vary with campaign goals, with charges triggered by delivered ad impressions or specified actions such as clicks or installs; payments are generally due after month-end.

FY2025 revenue

Who Are Their Customers?

Customers range from independent businesses to large enterprises, including advertisers, advertising networks and mobile app publishers. Advertisers use the platform to find users; networks use MAX to buy app advertising inventory, while publishers use mediation tools to monetize their inventory.

Do Revenues Turn Into Profits?

Yes. It kept 61 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

76% of revenue

▲ +117% vs FY2024 ($1.9B, 59%)

Net income, FY2025

61% of revenue

▲ +111% vs FY2024 ($1.6B, 49%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +53%; vs $1.3B in Q2 FY2025
Net income: ▲ +55%; vs $819.5M in Q2 FY2025

Aug 5, 2026 Set third-quarter revenue and adjusted EBITDA targets The company projected revenue of $2,055 million to $2,085 million and adjusted EBITDA of $1,710 million to $1,740 million.
Apr 7, 2026 Appointed an independent board chair Craig Billings became chair, while Adam Foroughi remained chief executive officer and a board member.

Growing. Revenue grew 96% in 4 years, from $2.8B in FY2021 to $5.5B in FY2025, about 18% a year.

Sold the owned-games business The earlier business included a portfolio of owned mobile games alongside its software platform; the current business centers on advertising solutions after the Apps business sale.

Who Do They Compete With?

Competes with Meta, Google, Amazon, and Unity Software

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