Stock Analysis on Net

AppLovin Corp. (NASDAQ:APP)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

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AppLovin Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents
Restricted cash equivalents
Accounts receivable, net
Prepaid expenses and other current assets
Current assets
Property and equipment, net
Goodwill
Intangible assets, net
Other non-current assets
Non-current assets
Total assets

Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets shows a fluctuating but overall downward trend from 29.03% in March 2021 to a low of 6.64% in September 2023, before increasing noticeably to 26.28% by September 2025. This pattern suggests intermittent periods of liquidity adjustments or capital deployment followed by replenishment of cash reserves.
Restricted Cash Equivalents
Restricted cash equivalents appear only in the data for December 2021, accounting for 17.04% of total assets, with no further values available. This singular data point indicates a possible one-time restriction or reclassification of cash assets during that period.
Accounts Receivable, Net
Accounts receivable as a percentage of total assets generally increased from 13% in March 2021 to a peak of 27.65% in June 2025, before slightly declining to 25.29% in September 2025. This upward trajectory may reflect growing sales on credit or challenges in collections, elevating the level of outstanding receivables relative to assets.
Prepaid Expenses and Other Current Assets
These assets remain relatively stable, ranging between approximately 2.21% and 4.18% of total assets. Despite minor fluctuations, there is no significant trend upwards or downwards, indicating a consistent proportion of such assets in the company's asset structure.
Current Assets
The share of current assets in total assets exhibits variability, with a notable peak of 52.49% in December 2021 and a trough around 25.99% in September 2023. After this low, current assets increase again to 54.98% by September 2025, suggesting periods of increased liquidity or working capital changes alternating with reductions.
Property and Equipment, Net
The percentage attributed to property and equipment remains relatively low but shows a gradual increase from 0.85% in March 2021 to a peak of 3.29% in June 2024, followed by a slight decline to around 2.06% by September 2025. This may indicate moderate investments in physical assets with some recent asset disposals or depreciations.
Goodwill
Goodwill as a percentage of total assets increased markedly from 9.51% in March 2021 to a high of 36.23% in September 2023. Subsequently, it steadily decreased to 24.29% by September 2025. Such dynamics can point to acquisition activities during the initial period and partial impairment or revaluation effects later.
Intangible Assets, Net
Intangible assets declined from 39.55% of total assets in March 2021 to 6.65% by September 2025. This persistent decrease suggests amortization, impairment, or disposals outweighing new capitalizations, reflecting diminished intangible asset holdings over time.
Other Non-current Assets
Other non-current assets steadily increased from 4.89% to a peak of 14.26% by June 2025, before a slight decrease to 12.01% in September 2025. This consistent growth indicates accumulation or capitalization of additional long-term asset categories beyond goodwill and intangibles.
Non-current Assets
The proportion of non-current assets relative to total assets demonstrates fluctuation, initially rising from 54.8% in March 2021 to around 74.01% in September 2023, then declining to 45.02% by September 2025. This variation correlates with changes in goodwill, intangibles, property, and other long-term asset components, reflecting evolving investment strategies and asset reclassifications.