APP FY 2023 Earnings Report — AppLovin Corporation Revenue & Financial Results | Market Cap Arena

AppLovin CorporationAPP

FY 2023 Earnings

Reported February 26, 2024

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$3.3B	—	$2.8B	—	16.5%
Op. Income	$648M	—	-$48M	—	1456.3%
Gross Margin	67.7%	—	55.4%	—	12.3pp
Net Margin	10.9%	—	-6.8%	—	17.7pp
EPS (Diluted)	$0.98	—	$-0.52	—	288.5%
Free Cash Flow	$1.1B	—	$412M	—	156.5%

Revenue Flow

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$1.1B
GROSS PROFIT	$2.2B
R&D Expenses	$592M
Selling & Marketing	$831M
General & Administrative	$153M
SG&A Expenses	$983M
Other Expenses	$0
Operating Expenses	$1.6B
Cost & Expenses	$2.6B
OPERATING INCOME	$648M
Interest Income	$0
Interest Expense	$276M
Other Income/Expenses	-$268M
INCOME BEFORE TAX	$381M
Income Tax Expense	$24M
Net Income from Continuing Ops	$357M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$357M
Net Income Deductions	-$51.0K
BOTTOM LINE NET INCOME	$355M
D&A	$489M
EBIT	$656M
EBITDA	$1.1B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$3.3B
Cost of Revenue	$1.1B
GROSS PROFIT	$2.2B
R&D Expenses	$592M
Selling & Marketing	$831M
General & Administrative	$153M
SG&A Expenses	$983M
Other Expenses	$0
Operating Expenses	$1.6B
Cost & Expenses	$2.6B
OPERATING INCOME	$648M
Interest Income	$0
Interest Expense	$276M
Other Income/Expenses	-$268M
INCOME BEFORE TAX	$381M
Income Tax Expense	$24M
Net Income from Continuing Ops	$357M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$357M
Net Income Deductions	-$51.0K
BOTTOM LINE NET INCOME	$355M
D&A	$489M
EBIT	$656M
EBITDA	$1.1B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$357M
Depreciation & Amortization	$489M
Stock-Based Compensation	$363M
Deferred Income Tax	$0
Other Non-Cash Items	$61M
Change in Working Capital	-$209M
OPERATING CASH FLOW	$1.1B
Capital Expenditure	-$4M
Acquisitions (Net)	-$64M
Purchases of Investments	-$18M
Sales/Maturities of Investments	$0
Other Investing Activities	$8M
NET CASH FROM INVESTING	-$78M
Net Debt Issuance	-$123M
Common Stock Repurchased	-$1.2B
Common Dividends Paid	$0
Other Financing Activities	-$286M
NET CASH FROM FINANCING	-$1.6B
FREE CASH FLOW	$1.1B
Net Change in Cash	-$578M

Balance Sheet

Item	Amount
Cash & Equivalents	$502M
Short-Term Investments	$0
Net Receivables	$954M
Inventory	$0
Other Current Assets	$160M
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$222M
Goodwill	$1.8B
Intangible Assets	$1.3B
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$386M
TOTAL NON-CURRENT ASSETS	$3.7B
TOTAL ASSETS	$5.4B
Account Payables	$372M
Short-Term Debt	$215M
Deferred Revenue	$79M
Other Current Liabilities	$48M
TOTAL CURRENT LIABILITIES	$944M
Long-Term Debt	$2.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$210M
TOTAL NON-CURRENT LIABILITIES	$3.2B
TOTAL LIABILITIES	$4.1B
Common Stock	$11.0K
Additional Paid-In Capital	$2.1B
Retained Earnings	-$813M
Treasury Stock	$0
Accum. Other Comp. Income	-$65M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.3B
Minority Interest	$0
TOTAL EQUITY	$1.3B
TOTAL LIABILITIES & EQUITY	$5.4B
Total Debt	$3.2B
Net Debt	$2.7B