European Investor
12 Feb 2026, 20:27
AppLovin Corporation (NASDAQ: APP) reported strong fourth quarter and full-year 2025 results.
Fourth quarter revenue rose 66% year over year to $1.66 billion, while net income increased 84% to $1.10 billion. Adjusted EBITDA grew 82% to $1.40 billion.
For full-year 2025, revenue increased 70% to $5.48 billion. Net income more than doubled, up 111% to $3.33 billion, and adjusted EBITDA rose 87% to $4.51 billion.
Operating cash flow reached $1.31 billion in Q4 and $3.97 billion for the full year, with full-year free cash flow of $3.95 billion. The company repurchased $2.58 billion of shares in 2025.
For Q1 2026, AppLovin expects revenue of $1.75–$1.78 billion and adjusted EBITDA of $1.47–$1.50 billion, implying an 84% adjusted EBITDA margin.
Fourth quarter revenue rose 66% year over year to $1.66 billion, while net income increased 84% to $1.10 billion. Adjusted EBITDA grew 82% to $1.40 billion.
For full-year 2025, revenue increased 70% to $5.48 billion. Net income more than doubled, up 111% to $3.33 billion, and adjusted EBITDA rose 87% to $4.51 billion.
Operating cash flow reached $1.31 billion in Q4 and $3.97 billion for the full year, with full-year free cash flow of $3.95 billion. The company repurchased $2.58 billion of shares in 2025.
For Q1 2026, AppLovin expects revenue of $1.75–$1.78 billion and adjusted EBITDA of $1.47–$1.50 billion, implying an 84% adjusted EBITDA margin.
