Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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AppLovin Corp., consolidated balance sheet: assets

US$ in thousands

		Dec 31, 2024		Dec 31, 2023		Dec 31, 2022		Dec 31, 2021
	Cash and cash equivalents
	Restricted cash equivalents
	Accounts receivable, net
	Prepaid expenses and other current assets
	Current assets
	Property and equipment, net
	Operating lease right-of-use assets
	Goodwill
	Intangible assets, net
	Other assets
	Non-current assets
	Total assets

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

The analysis of the annual financial data reveals several key trends in the company's asset base over the observed periods from 2021 to 2024.

Cash and Cash Equivalents: There is a notable decline in cash and cash equivalents from 1,520,504 thousand USD in 2021 to 502,152 thousand USD in 2023, followed by a recovery to 741,411 thousand USD in 2024. This reduction and subsequent partial rebound indicate fluctuating liquidity positions during the period.
Restricted Cash Equivalents: Restricted cash equivalents were reported at 1,050,000 thousand USD in 2021 but were not disclosed in subsequent years, suggesting either a reclassification or utilization of these restricted funds.
Accounts Receivable, Net: Accounts receivable have consistently increased each year, rising substantially from 514,520 thousand USD in 2021 to 1,414,246 thousand USD in 2024. This indicates growing credit sales or expanded operations resulting in higher amounts owed by customers.
Prepaid Expenses and Other Current Assets: This category shows relatively stable values across the years, maintaining a narrow range around approximately 150,000 to 160,000 thousand USD, implying consistent short-term prepaid and other current asset levels.
Current Assets: Current assets experienced a sharp decrease from 3,235,064 thousand USD in 2021 to 1,616,163 thousand USD by 2023, before rising again to 2,312,190 thousand USD in 2024. The initial decline aligns with reductions in cash and restricted cash, while the later increase may reflect improved liquidity or recovery in other current assets.
Property and Equipment, Net: Property and equipment assets show growth from 63,608 thousand USD in 2021 to a peak of 173,331 thousand USD in 2023, followed by a slight decline to 160,530 thousand USD in 2024. The increase points to capital investments in physical assets during this period.
Operating Lease Right-of-Use Assets: These assets steadily decreased from 70,975 thousand USD in 2021 to 38,069 thousand USD in 2024, indicating either the expiration of leases or a reduction in leased operating assets.
Goodwill: Goodwill nearly doubled from 966,427 thousand USD in 2021 to approximately 1,823,755 thousand USD in 2022, then remained relatively stable with minor fluctuations through 2024. This suggests significant acquisitions or business combinations occurred in 2022, maintaining high goodwill levels thereafter.
Intangible Assets, Net: Intangible assets have declined substantially from 1,709,347 thousand USD in 2021 to 896,677 thousand USD in 2024, indicating amortization or impairment charges reducing this asset category over time.
Other Assets: This asset class has shown consistent growth, increasing from 118,158 thousand USD in 2021 to 658,367 thousand USD in 2024, suggesting accumulation of longer-term or miscellaneous assets, contributing positively to non-current assets.
Non-Current Assets: Non-current assets increased significantly from 2,928,515 thousand USD in 2021 to a peak of 3,908,763 thousand USD in 2022, with a gradual decrease thereafter to 3,557,069 thousand USD in 2024. This reflects the impact of acquisitions increasing goodwill and property and equipment, followed by reductions in intangible assets and leased assets.
Total Assets: Total assets decreased from 6,163,579 thousand USD in 2021 to 5,359,187 thousand USD in 2023, then recovered slightly to 5,869,259 thousand USD in 2024. This overall trend reflects the combined effects of changes in current and non-current assets, acquisitions, asset disposals, and amortization.

Assets: Selected Items

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Current Assets: Selected Items