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Adjusted EBITDA by Segment
Shows profitability across different business units, highlighting which segments are driving earnings and where there might be opportunities or challenges in cost management.AppLovin’s adjusted‑EBITDA has consolidated into Advertising as the clear profit engine while Apps’ contribution fell to essentially nil by mid‑2025, signaling a structural shift (reclassification, divestment, or wind‑down) that concentrates earnings power and risk in the ad stack. That concentration helps explain the company’s exceptional margins and cash generation per the call, but it also raises dependency on AXON/mediation competitiveness and the pace at which e‑commerce/self‑serve and generative‑AI creative scale — those adoption and conversion metrics will drive upside or downside from here.
Date | Advertising | Apps |
|---|---|---|
Jun 30, 2026 | $1.61B | $0.00 |
Mar 31, 2026 | $1.56B | $0.00 |
Dec 31, 2025 | $1.40B | $0.00 |
Sep 30, 2025 | $1.16B | $0.00 |
Jun 30, 2025 | $1.02B | $0.00 |
Mar 31, 2025 | $943.23M | $61.80M |
Dec 31, 2024 | $776.70M | $71.33M |
Sep 30, 2024 | $653.40M | $68.22M |
Jun 30, 2024 | $520.48M | $80.71M |
Mar 31, 2024 | $492.02M | $56.75M |