AppLovin Corp

SIC 7370Services-Computer Programming, Data Processing, Etc.operating

SEC EDGAR

Exchange

Nasdaq

Entity type

operating

Fiscal year end

Dec 31

Headquarters

Research Summary

AI-generated from SEC filings & financial news

Updated Dec 19, 2025

AppLovin Corporation

AppLovin builds a software platform that helps advertisers acquire users and publishers monetize mobile and connected‑TV inventory. Its core products — including MAX (in‑app bidding), AppDiscovery (user acquisition), Adjust (measurement) and the AXON recommendation/optimization engine — connect advertiser demand with publisher supply and generate revenue through fees for ad placement, auctions and analytics.^[1]

Business Segments

Advertising: performance advertising and monetization solutions (MAX, AppDiscovery, AXON); primary revenue driver (~68% of total revenue).^[2]
Apps: portfolio of free‑to‑play mobile games generating in‑app purchases and in‑app ad inventory (~32% of total revenue).^[2]
Measurement & platform services: analytics and attribution (Adjust) and related tools that support advertiser ROI measurement and platform adoption (reported within segments).^[2]

Competitive Position

Data and scale advantages: the platform’s large user reach and high ad‑volume create a data flywheel that improves targeting and ROAS, reinforcing advertiser demand.^[3]
Integrated stack and product breadth: owning supply‑side (MAX), demand/ad‑marketplace (AppDiscovery), and measurement (Adjust) raises switching costs for clients and aids monetization.^[4]

Investment Considerations

Opportunity — high‑margin, scalable ad platform: advertising fees and auction economics can produce strong operating leverage as volume and automation increase.^[2]
Opportunity — expansion beyond gaming: tools designed for performance marketing let the platform address broader digital ad categories (e‑commerce, CTV), increasing total addressable market.^[3]
Risk — dependence on third‑party platforms and partners: revenue and targeting capability are influenced by platform policies and data access from app stores and social platforms.^[2]
Risk — regulatory, privacy and reputational exposure: adtech firms face ongoing legal, privacy and compliance risks that can affect operations, measurement practices and client relationships.^[2]

Sources