Stock Analysis on Net
Stock Analysis on Net

AppLovin Corp. (NASDAQ:APP)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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AppLovin Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Accounts payable
Accrued taxes
Compensation and related liabilities
Finance lease liabilities, current
Accrued expenses and other
Accrued and other current liabilities
Short-term debt
Deferred revenue
Operating lease liabilities, current
Deferred acquisition costs, current
Current liabilities
Long-term debt
Operating lease liabilities, non-current
Finance lease liabilities, non-current
Other non-current liabilities
Non-current liabilities
Total liabilities
Redeemable noncontrolling interest
Preferred stock, $0.00003 par value; no shares issued and outstanding
Class A, Class B, and Class C Common stock, $0.00003 par value
Additional paid-in capital
Accumulated other comprehensive loss
Retained earnings (accumulated deficit)
Stockholders’ equity
Total liabilities, redeemable noncontrolling interest, and stockholders’ equity

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 financial data demonstrates notable trends in the company’s liabilities and equity over the four-year period from 2021 through 2024.

Current Liabilities
Current liabilities increased substantially from 640,097 thousand USD in 2021 to 1,057,472 thousand USD in 2024. Among the components, accounts payable rose sharply, reaching 563,427 thousand USD by 2024, more than doubling since 2021. Accrued taxes also showed a pronounced upward trend, growing over fourfold to 280,153 thousand USD. Compensation and related liabilities nearly doubled by 2024, while accrued and other current liabilities experienced a strong increase as well. Short-term debt surged dramatically in 2023 but was not reported for 2024.
Non-Current Liabilities
Non-current liabilities exhibited a moderate increase, moving from approximately 3,385,191 thousand USD in 2021 to 3,721,969 thousand USD in 2024. Long-term debt showed some volatility but an overall increase was observed, particularly in 2024 when it rose to nearly 3,508,983 thousand USD after a decline in prior years. Finance lease liabilities expanded considerably, especially the non-current portion, which more than quintupled by 2023 before slightly declining in 2024. Other non-current liabilities decreased steadily over the period.
Total Liabilities
Total liabilities showed a general upward trajectory, increasing from roughly 4,025,288 thousand USD in 2021 to 4,779,441 thousand USD in 2024. The increase was driven primarily by growth in current liabilities and the rise in long-term debt and finance lease liabilities.
Equity
Stockholders’ equity declined consistently from 2,138,090 thousand USD in 2021 to 1,089,818 thousand USD in 2024. This decrease was influenced by the steep reduction in additional paid-in capital, which dropped significantly from about 3,160,487 thousand USD in 2021 to 593,699 thousand USD in 2024. Retained earnings also improved substantially, moving from a large accumulated deficit of -976,954 thousand USD to a positive balance of 599,204 thousand USD by 2024. The accumulated other comprehensive loss increased negatively, indicating growing unrealized losses.
Overall Financial Position
The total of liabilities and equity declined from 6,163,579 thousand USD in 2021 to a low of 5,359,187 thousand USD in 2023, before rebounding to 5,869,259 thousand USD in 2024. The balance sheet reflects increasing leverage through rising liabilities against a backdrop of decreasing equity, suggesting a growing reliance on external financing. The significant swings in certain liabilities and paid-in capital indicate potential structural changes or transactions affecting the company’s capital structure.