AppLovin
Matches advertisers with mobile and web audiences while helping app publishers monetize inventory.
Something off on this page? Send us feedback.
Profile
Runs an AI-powered advertising platform spanning user acquisition, in-app monetization, measurement, and connected TV. Substantially all revenue comes from Axon Ads Manager campaign fees, while the broader business remains concentrated in mobile apps and dependent on Apple, Google, and Meta policies.
Runs an end-to-end advertising platform that matches marketers with audiences and helps app publishers monetize inventory. Axon Ads Manager uses the Axon AI engine to match demand with supply through automated auctions and generates substantially all revenue. MAX handles in-app bidding, Adjust provides measurement and attribution, and Wurl distributes and monetizes connected-TV programming.
Serves advertisers and publishers worldwide, with mobile gaming still central as web-based commerce broadens its reach. Scale supplies engagement data that refines campaign matching, while automated auctions optimize toward advertiser return goals. Operating as a single Advertising segment after the game-studio sale, revenue remains concentrated in Axon Ads Manager and mobile apps. Access, targeting, and distribution depend on Apple App Store, Google Play, and Meta policies; privacy, data-protection, advertising, and AI rules also shape operations.
Company facts
Categories
Key statistics
Year to date −48.6% · Average volume (30d) 6.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 26, 2026 | Needham | Target | $500 | $475 | ||
| Aug 21, 2026 | Piper Sandler | Reiterate | Neutral | $385 | $325 | |
| Aug 19, 2026 | Wells Fargo | Reiterate | Overweight | $357 | $325 | |
| Aug 17, 2026 | William Blair | Target | $440 | |||
| Aug 12, 2026 | BTIG | Reiterate | Buy | $574 | $408 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $3.76 | $3.76 | 0.0% | $1.94B | $1.92B | −0.9% | −19.66% |
| Aug 4, 2026Q2 FY26 | $3.76 | $3.76 | 0.0% | $1.94B | $1.92B | −0.9% | −0.45% |
| May 6, 2026Q1 FY26 | $3.44 | $3.56 | +3.5% | $1.77B | $1.84B | +3.9% | +6.41% |
| Feb 11, 2026Q4 FY25 | $2.95 | $3.24 | +9.8% | $1.61B | $1.66B | +2.8% | −19.68% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.16B | $1.26B | $1.41B | $1.66B | $1.84B | $1.92B | |
| Gross profit | $1.01B | $1.10B | $1.23B | $1.47B | $1.64B | $1.70B | |
| Operating income | $840.0M | $957.7M | $1.08B | $1.28B | $1.44B | $1.49B | |
| Net income | $576.4M | $819.5M | $835.5M | $1.10B | $1.21B | $1.27B | |
| Diluted EPS | $1.67 | $2.39 | $2.45 | $3.24 | $3.56 | $3.76 | |
| Gross margin | 86.9% | 87.7% | 87.6% | 88.9% | 88.9% | 88.3% | |
| Operating margin | 72.5% | 76.1% | 76.8% | 76.9% | 78.2% | 77.7% |
Fiscal years (4-quarter sums)FY21 $2.79B · FY22 $2.82B · FY23 $3.28B · FY24 $3.98B · FY25 $5.48B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $3.05B · Total debt $3.52B · Total assets $8.27B · Shareholders' equity $3.16B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 335.94M · Float 255.71M · 76.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Arash Adam Foroughi | 36.34M | 10.60% | 13G | Feb 7, 2025 |
| BlackRock, Inc. | 24.04M | 7.16% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 17.74M | 5.28% | 13F | Aug 13, 2026 |
| FMR LLC | 17.29M | 5.15% | 13F | Aug 13, 2026 |
| Angel Pride Holdings Limited | 17.24M | 5.80% | 13G | Jan 30, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 6, 2026 | Maynard G. Jr Webb | director | −3,076 | $521.29 |
| Jun 16, 2026 | Eduardo Vivas | director | −163,910 | $504.06 |
| Jun 11, 2026 | Arash Adam Foroughi | director, 10 percent owner, officer: CEO | −41,666 | $484.75 |
| Jun 10, 2026 | Arash Adam Foroughi | director, 10 percent owner, officer: CEO | −20,833 | $503.91 |
| Jun 12, 2026 | Arash Adam Foroughi | director, 10 percent owner, officer: CEO | −41,667 | $489.03 |
Peers
- Alphabet Class A
Dominant mobile ad network on Android; AdMob and UAC rival MAX and AppDiscovery.
- Meta
Largest performance UA platform; Advantage+ AI campaigns rival AXON directly.
- Unity Software
#2 mobile mediation platform; Unity Vector AI rebuilds after ironSource sunset.
- The Trade Desk
Largest independent programmatic DSP; converging with AppLovin in AI ad buying.
- Snap
Mobile-first social platform competing for app-install UA budgets via AI.
- Digital Turbine
On-device distribution and FairBid mediation; peripheral UA and adtech overlap.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| AppLovin | $318.40 | +0.18% | $106.75B | 24.4 | 17.4 | 15.6 | +52.8% |
| Alphabet Class A | $346.00 | −0.14% | $4.19T | 17.4 | 25.8 | 9.4 | +24.2% |
| Meta | $578.36 | +0.06% | $1.47T | 21.8 | 19.0 | 6.5 | +28.0% |
| Unity Software | $45.41 | +4.85% | $18.91B | — | 50.0 | 9.3 | +23.9% |
| The Trade Desk | $13.60 | +0.18% | $6.38B | 16.0 | 123.2 | 2.1 | +3.0% |
| Snap | $5.44 | −0.18% | $9.17B | — | 22.5 | 1.4 | +18.9% |
| Digital Turbine | $11.02 | −0.68% | $1.34B | — | 14.6 | 2.2 | +26.8% |
| Median | 17.4 | 24.2 | 4.3 | +24.1% |