Balance Sheet: Assets
Quarterly Data

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.

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

US$ in thousands

	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	1,666,899)	1,192,608)	551,024)	741,411)	567,596)	460,449)	436,336)	502,152)	332,491)	876,227)	1,245,893)	1,080,484)	943,508)	951,560)	1,413,256)	1,520,504)	1,049,617)	1,183,743)	761,075)
Restricted cash equivalents	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,050,000)	—)	—)	—)
Accounts receivable, net	1,603,953)	1,581,679)	1,577,812)	1,414,246)	1,187,431)	1,074,342)	1,035,372)	953,810)	849,140)	669,785)	637,605)	702,814)	665,462)	690,911)	684,461)	514,520)	412,884)	383,133)	340,881)
Prepaid expenses and other current assets	216,714)	218,402)	238,498)	156,533)	120,393)	125,479)	136,180)	160,201)	119,161)	150,256)	164,859)	155,785)	215,279)	174,826)	200,384)	150,040)	163,864)	149,969)	82,865)
Current assets	3,487,566)	2,992,689)	2,367,334)	2,312,190)	1,875,420)	1,660,270)	1,607,888)	1,616,163)	1,300,792)	1,696,268)	2,048,357)	1,939,083)	1,824,249)	1,817,297)	2,298,101)	3,235,064)	1,626,365)	1,716,845)	1,184,821)
Property and equipment, net	130,815)	129,600)	161,655)	160,530)	177,052)	169,209)	172,994)	173,331)	102,156)	115,391)	118,572)	78,543)	71,345)	62,431)	63,716)	63,608)	62,910)	62,986)	22,167)
Goodwill	1,540,889)	1,539,301)	1,639,796)	1,803,426)	1,852,299)	1,821,913)	1,827,197)	1,842,850)	1,813,567)	1,830,710)	1,833,699)	1,823,755)	1,763,170)	1,803,167)	1,584,928)	966,427)	997,661)	1,016,074)	249,385)
Intangible assets, net	421,868)	448,179)	855,046)	896,677)	1,023,643)	1,101,935)	1,198,122)	1,292,635)	1,386,591)	1,493,996)	1,574,547)	1,677,660)	1,889,163)	2,028,974)	2,018,098)	1,709,347)	1,758,796)	1,675,669)	1,036,800)
Other non-current assets	761,897)	849,728)	682,870)	696,436)	514,070)	516,139)	456,316)	434,208)	402,122)	345,755)	340,665)	328,805)	257,471)	218,959)	202,350)	189,133)	122,028)	127,997)	128,226)
Non-current assets	2,855,469)	2,966,808)	3,339,367)	3,557,069)	3,567,064)	3,609,196)	3,654,629)	3,743,024)	3,704,436)	3,785,852)	3,867,483)	3,908,763)	3,981,149)	4,113,531)	3,869,092)	2,928,515)	2,941,395)	2,882,726)	1,436,578)
Total assets	6,343,035)	5,959,497)	5,706,701)	5,869,259)	5,442,484)	5,269,466)	5,262,517)	5,359,187)	5,005,228)	5,482,120)	5,915,840)	5,847,846)	5,805,398)	5,930,828)	6,167,193)	6,163,579)	4,567,760)	4,599,571)	2,621,399)

The analysis of the quarterly financial data reveals several notable trends and patterns across key balance sheet items over the examined periods.

Liquidity and Current Assets: Cash and cash equivalents exhibit considerable fluctuation, peaking notably at the end of 2021 with approximately $1.52 billion, then declining in 2023 before rising again by the first quarter of 2025 to nearly $1.67 billion. Restricted cash equivalents were reported only once during the fourth quarter of 2021 at $1.05 billion, with no further disclosures in subsequent quarters. Accounts receivable, net, show an overall upward trend, increasing from around $341 million in early 2021 to over $1.6 billion by the end of the first quarter of 2025, indicating growth in receivables consistent with expanding business activity or sales on credit. Prepaid expenses and other current assets fluctuate but generally maintain a range between approximately $82 million and $238 million, demonstrating relative stability with some volatility likely due to timing or operational factors. Total current assets follow a similar pattern, with a peak near $3.24 billion at the end of 2021, then mostly stabilizing around $1.6 billion to $3.5 billion in later periods, reflecting variability in cash, receivables, and other current assets.
Property, Equipment, Goodwill, and Intangible Assets: Property and equipment, net, show gradual increases with some volatility, ranging roughly from $22 million in early 2021 to a high of $173 million at the end of 2023, before declining to around $131 million by the first quarter of 2025. This suggests capital investment activity with subsequent dispositions or depreciation. Goodwill peaks initially at over $1 billion in mid-2021, then declines somewhat but remains high above $1.5 billion through most periods, indicating relatively stable acquisition-related intangible assets despite modest decreases. Intangible assets, net, show a consistent downward trend, declining significantly from around $1.04 billion in early 2021 to approximately $422 million by early 2025. This decline may reflect amortization or impairments over time, reducing the carrying amount of these assets.
Other Non-Current and Total Assets: Other non-current assets show a general increase from approximately $128 million in early 2021 to peaks above $849 million during 2024, then slightly decreasing to around $762 million by early 2025. This steady growth suggests accumulation or reclassification of long-term assets. Non-current assets overall remain relatively stable with fluctuations, starting around $1.44 billion in early 2021, reaching almost $3.9 billion at the end of 2021, and then declining to approximately $2.9 billion by early 2025, reflecting changes in goodwill, intangibles, property, and other long-term asset accounts. Total assets experienced substantial growth during 2021, peaking over $6.16 billion at the end of that year, followed by a moderate decline and stabilization around $5.3 billion to $6.3 billion from 2022 through early 2025, indicating the company's asset base remained sizable though somewhat variable over time.

Assets: Selected Items

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Current Assets: Selected Items

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AppLovin Corp. (NASDAQ:APP)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data