Income Statement
Quarterly Data
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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AppLovin Corp., consolidated income statement (quarterly data)
US$ in thousands
Based on: 10-K (reporting date: 2025-12-31), 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).
Revenue exhibited a generally increasing trend over the observed period, although with notable fluctuations. Initial growth from Mar 31, 2021 to Dec 31, 2021 was followed by a decrease in the first half of 2022. Revenue then resumed an upward trajectory, accelerating significantly from Sep 30, 2022 through Dec 31, 2024, before experiencing a decline in the first half of 2025.
Gross profit mirrored the revenue trend, increasing from US$380.82 million in Mar 31, 2021 to US$1,474.42 million by Dec 31, 2025, with similar interim declines and accelerations. However, the cost of revenue also increased over time, impacting gross profit margins.
- Profitability
- Income from operations demonstrated significant volatility. A loss was recorded in Mar 31, 2022, followed by a return to profitability and substantial growth through Dec 31, 2024. The first half of 2025 saw a decrease in income from operations, though it remained positive. Net income attributable to AppLovin followed a similar pattern, with a substantial loss in 2022, followed by increasing profitability in subsequent periods. A significant impact from discontinued operations was observed in the first half of 2025.
- Expense Management
- Sales and marketing expenses remained relatively stable between Mar 31, 2021 and Jun 30, 2022, then decreased significantly before increasing again in later periods, though remaining below initial levels. Research and development expenses consistently increased from Mar 31, 2021 to Dec 31, 2023, before decreasing slightly in 2024 and increasing again in 2025. General and administrative expenses showed a moderate increase over the period, with some fluctuations.
Interest expense remained consistently negative, representing interest income, and generally increased over the period. Other expense, net, was consistently negative and increased over the period. The combined effect of these items, along with income from operations, influenced the income before income taxes. The provision for (benefit from) income taxes fluctuated significantly, resulting in varying effective tax rates.
The period from Mar 31, 2021 to Jun 30, 2022 was characterized by instability, with a significant loss in the first half of 2022. From Sep 30, 2022 through Dec 31, 2024, the company experienced a period of strong growth and improved profitability. The first half of 2025 showed signs of a potential slowdown in growth and a decrease in profitability, partially influenced by discontinued operations.