Balance Sheet: Liabilities and Stockholders’ Equity
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.

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.

AppLovin Corp., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in thousands

	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	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
Accounts payable	778,942)	697,524)	746,977)	516,438)	553,692)	595,219)	563,427)	427,817)	387,507)	390,079)	371,702)	281,103)	260,847)	282,948)	273,196)	261,515)	283,397)	369,659)	258,220)	208,539)	192,658)	158,023)
Accrued and other current liabilities	475,016)	796,858)	586,811)	556,695)	540,193)	614,005)	494,045)	316,156)	306,521)	336,882)	357,420)	286,767)	261,387)	261,594)	241,407)	223,087)	252,163)	260,207)	248,466)	255,847)	262,931)	220,386)
Short-term debt	—)	—)	—)	—)	—)	200,000)	—)	35,563)	35,563)	35,563)	215,000)	215,000)	33,310)	33,310)	33,310)	33,310)	33,310)	29,560)	25,810)	18,310)	18,310)	18,310)
Deferred acquisition costs, current	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	22,604)	36,396)	41,718)	31,045)	25,721)	75,719)	125,691)	107,601)	87,072)	129,280)	89,877)
Current liabilities	1,253,958)	1,494,382)	1,333,788)	1,073,133)	1,093,885)	1,409,224)	1,057,472)	779,536)	729,591)	762,524)	944,122)	805,474)	591,940)	619,570)	578,958)	543,633)	644,589)	785,117)	640,097)	569,768)	603,179)	486,596)
Long-term debt	3,515,072)	3,514,022)	3,512,987)	3,511,965)	3,510,958)	3,509,964)	3,508,983)	3,474,456)	3,482,166)	3,489,891)	2,905,906)	2,912,302)	3,166,759)	3,172,563)	3,178,412)	3,184,221)	3,190,047)	3,195,919)	3,201,834)	1,731,020)	1,733,676)	2,137,612)
Other non-current liabilities	337,085)	335,818)	278,164)	284,017)	187,527)	212,092)	212,986)	250,286)	242,873)	249,898)	252,830)	191,662)	206,021)	225,127)	187,799)	195,642)	188,908)	173,702)	183,357)	217,753)	265,079)	126,913)
Non-current liabilities	3,852,157)	3,849,840)	3,791,151)	3,795,982)	3,698,485)	3,722,056)	3,721,969)	3,724,742)	3,725,039)	3,739,789)	3,158,736)	3,103,964)	3,372,780)	3,397,690)	3,366,211)	3,379,863)	3,378,955)	3,369,621)	3,385,191)	1,948,773)	1,998,755)	2,264,525)
Total liabilities	5,106,115)	5,344,222)	5,124,939)	4,869,115)	4,792,370)	5,131,280)	4,779,441)	4,504,278)	4,454,630)	4,502,313)	4,102,858)	3,909,438)	3,964,720)	4,017,260)	3,945,169)	3,923,496)	4,023,544)	4,154,738)	4,025,288)	2,518,541)	2,601,934)	2,751,121)
Redeemable noncontrolling interest	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	109)	160)	201)	160)	196)	255)
Preferred stock, $0.00003 par value; no shares issued and outstanding	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Convertible preferred stock	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	399,589)
Class A, Class B, and Class C Common stock, $0.00003 par value	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	11)	7)
Additional paid-in capital	575,057)	504,342)	446,550)	427,998)	448,899)	474,642)	593,699)	992,588)	1,172,290)	1,420,895)	2,134,581)	2,174,658)	2,687,780)	3,146,163)	3,155,748)	3,112,224)	3,149,474)	3,163,481)	3,160,487)	3,084,928)	3,015,233)	493,465)
Accumulated other comprehensive loss	(73,805)	(67,767)	(46,987)	(2,659)	(5,149)	(73,185)	(103,096)	(54,393)	(90,628)	(83,896)	(65,274)	(93,657)	(76,530)	(73,376)	(83,382)	(140,145)	(128,351)	(58,986)	(45,454)	(27,560)	(9,305)	(117)
Retained earnings (accumulated deficit)	2,661,753)	1,926,897)	1,735,097)	1,048,570)	723,366)	173,953)	599,204)	—)	(266,837)	(576,806)	(812,989)	(985,222)	(1,093,861)	(1,174,218)	(1,169,700)	(1,090,188)	(1,113,959)	(1,092,211)	(976,954)	(1,008,320)	(1,008,498)	(1,022,921)
Stockholders’ equity (deficit)	3,163,016)	2,363,483)	2,134,671)	1,473,920)	1,167,127)	575,421)	1,089,818)	938,206)	814,836)	760,204)	1,256,329)	1,095,790)	1,517,400)	1,898,580)	1,902,677)	1,881,902)	1,907,175)	2,012,295)	2,138,090)	2,049,059)	1,997,441)	(129,977)
Total liabilities, redeemable noncontrolling interest, and stockholders’ equity (deficit)	8,269,131)	7,707,705)	7,259,610)	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 capital structure of the organization has undergone a significant transformation between March 2021 and June 2026, characterized by a substantial increase in total liabilities and a dramatic recovery in stockholders' equity. Total liabilities grew from 2.75 billion USD in March 2021 to 5.11 billion USD by June 2026, reflecting a broader expansion of the balance sheet and an increased reliance on debt financing.

Current Liabilities and Short-Term Obligations: Current liabilities exhibited a steady upward trajectory, increasing from 486.6 million USD in March 2021 to 1.25 billion USD in June 2026. This growth was primarily driven by accounts payable, which rose from 158.0 million USD to 778.9 million USD over the period. Accrued and other current liabilities also showed a general increase, peaking at 796.9 million USD in March 2026 before moderating. Short-term debt remained relatively low for much of the period, with intermittent spikes, including a notable increase to 215 million USD in late 2023 and 200 million USD in March 2025.
Long-Term Debt and Non-Current Liabilities: A significant shift in the long-term debt profile occurred in December 2021, where long-term debt jumped from 1.73 billion USD to 3.20 billion USD. This level of indebtedness remained relatively stable, with a gradual increase toward 3.52 billion USD by June 2026. Consequently, non-current liabilities rose from 2.26 billion USD in March 2021 to 3.85 billion USD in June 2026, cementing long-term debt as the primary component of the organization's total liability burden.
Stockholders' Equity and Retained Earnings: The equity position evolved from a deficit of 130 million USD in March 2021 to a strong positive balance of 3.16 billion USD by June 2026. A critical driver of this change was the reversal of the accumulated deficit in retained earnings. The company transitioned from an accumulated deficit of 1.02 billion USD in March 2021 to a positive retained earnings balance of 2.66 billion USD by June 2026, indicating a pivot toward sustained profitability. This recovery in retained earnings offset a general decline in additional paid-in capital, which decreased from a peak of 3.02 billion USD in June 2021 to 575.1 million USD by June 2026.
Overall Solvency and Financial Position: The total balance sheet size expanded from 2.62 billion USD in March 2021 to 8.27 billion USD in June 2026. While the increase in total liabilities is substantial, the aggressive growth in stockholders' equity—particularly through organic earnings—has improved the overall solvency profile. The transition from an equity deficit to a multi-billion dollar surplus suggests a strengthened financial foundation despite the higher leverage maintained in the long-term debt accounts.

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AppLovin Corp. (NASDAQ:APP)

Balance Sheet: Liabilities and Stockholders’ EquityQuarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data