Income Statement
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Enterprise Value (EV)
- Selected Financial Data since 2021
- Return on Assets (ROA) since 2021
- Total Asset Turnover since 2021
- Price to Earnings (P/E) since 2021
- Price to Operating Profit (P/OP) since 2021
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AppLovin Corp., consolidated income statement
US$ in thousands
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).
- Revenue
- Revenue exhibited steady growth from 2021 through 2023, rising from approximately 2.79 billion US dollars to over 3.28 billion US dollars. A substantial increase occurred in 2024, reaching nearly 4.71 billion US dollars, indicating accelerated business expansion in that period.
- Cost of Revenue
- The cost of revenue increased overall but showed some variability. It rose from about 988 million US dollars in 2021 to approximately 1.26 billion US dollars in 2022, then decreased to around 1.06 billion US dollars in 2023 before increasing again to over 1.16 billion US dollars in 2024. This fluctuation suggests efforts to control costs in 2023 before costs rose again with growing revenues in 2024.
- Gross Profit
- Gross profit initially declined from 1.81 billion US dollars in 2021 to about 1.56 billion in 2022, likely reflecting increased cost pressure that year. However, it recovered strongly in subsequent years, reaching over 2.22 billion in 2023 and soaring to approximately 3.54 billion US dollars by 2024. This recovery and growth are consistent with the sharp revenue increase and improved cost management after 2022.
- Operating Expenses
- Sales and marketing expenses decreased from 1.13 billion US dollars in 2021 to around 830 million in 2023, showing a reduction in spending, but slightly increased again to about 849 million in 2024. Research and development expenses rose steadily each year, from approximately 366 million US dollars in 2021 to nearly 639 million in 2024, indicating sustained investment in innovation and product development. General and administrative expenses fluctuated modestly, with values ranging from approximately 159 million US dollars in 2021 to 181 million in 2024, without a clear directional trend.
- Income (Loss) from Operations
- The company’s operating income demonstrated notable volatility. It started with a positive operating income of 150 million US dollars in 2021, declined to a loss of approximately 48 million in 2022, and then reversed sharply to significant profits of 648 million in 2023 and over 1.87 billion US dollars in 2024. This pattern reflects recovery and improvement in operational efficiency following the downturn in 2022.
- Interest Expense and Other Expenses
- Interest expense and loss on settlement of debt increased from about 103 million US dollars in 2021 to over 318 million in 2024, suggesting growing debt obligations or financing costs. Other expense, net, also showed an upward trend, increasing from approximately 104 million in 2021 to around 297 million in 2024, which may imply rising non-operational costs or losses.
- Income Before Taxes and Taxes
- Income before income taxes followed the operational income trend, declining to a loss of roughly 205 million US dollars in 2022 and then recovering strongly to 381 million in 2023 and 1.58 billion in 2024. Tax provisions fluctuated, with a benefit recorded in 2022 and 2024, contrasting with provisions in 2021 and 2023. This variability aligns with changing profitability and income levels over the analyzed period.
- Net Income
- Net income mirrored the overall earnings pattern by declining into a loss of about 193 million US dollars in 2022, then rebounding to a profit of approximately 357 million in 2023 and reaching nearly 1.58 billion US dollars in 2024. Net income attributable to the company followed the same trend. The significant turnaround in net income after 2022 indicates improved financial performance and profitability.