AppLovin Financial Update: Q1 2026

AppLovin’s Q1 2026 financial update reports a revenue of $1.842 billion, up 59% year‑over‑year, and net income from continuing operations of $1.206 billion, a 66% increase to a net margin of 65%. Adjusted EBITDA reached $1.557 billion, an 85% margin, reflecting a 66% rise from the prior year. Cash flow from operations matched Adjusted EBITDA at $1.556 billion, underscoring strong operating liquidity. Shares outstanding averaged 1.053 million, with diluted earnings per share of $3.56.

The company’s balance sheet shows cash and equivalents at $2.759 billion, up from $2.487 billion, and total assets of $7.708 billion versus $7.260 billion a year earlier. Long‑term debt remained stable at $3.514 billion, while equity rose to $2.363 billion from $2.135 billion. Operating expenses grew modestly, with research and development increasing to $94 million from $56 million, while sales and marketing rose slightly to $60.8 million.

Methodologically, the update presents both GAAP and non‑GAAP measures; Adjusted EBITDA is defined by excluding items such as stock‑based compensation, restructuring costs, and goodwill impairment. The reconciliation table shows cumulative Adjusted EBITDA margins climbing from 65% in Q1 2025 to 85% in Q1 2026, driven by revenue growth and controlled cost expansion. The update covers the United States market for Q1 2026, with data drawn from audited financial statements and internal reconciliations.