v3.25.2

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 1,192,608	$ 697,030
Accounts receivable, net	1,581,679	1,283,335
Prepaid expenses and other current assets	218,402	140,470
Current assets of discontinued operations	0	191,355
Total current assets	2,992,689	2,312,190
Property and equipment, net	129,600	159,970
Goodwill	1,539,301	1,457,685
Intangible assets, net	448,179	472,851
Other non-current assets	849,728	529,314
Non-current assets of discontinued operations	0	937,249
Total assets	5,959,497	5,869,259
Current liabilities:
Accounts payable	553,692	504,302
Accrued and other current liabilities	495,218	379,004
Deferred revenue	44,975	37,053
Current liabilities of discontinued operations	0	137,113
Total current liabilities	1,093,885	1,057,472
Long-term debt	3,510,958	3,508,983
Other non-current liabilities	187,527	211,572
Non-current liabilities of discontinued operations	0	1,414
Total liabilities	4,792,370	4,779,441
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.00003 par value—100,000,000 shares authorized, no shares issued and outstanding as of June 30, 2025 and December 31, 2024	0	0
Class A, Class B, and Class C Common Stock, $0.00003 par value—1,850,000,000 (Class A 1,500,000,000, Class B 200,000,000, Class C 150,000,000) shares authorized, 338,782,503 (Class A 308,168,962, Class B 30,613,541, Class C nil) and 340,041,739 (Class A 309,353,198, Class B 30,688,541, Class C nil) shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively	11	11
Additional paid-in capital	448,899	593,699
Accumulated other comprehensive loss	(5,149)	(103,096)
Retained earnings	723,366	599,204
Total stockholders’ equity	1,167,127	1,089,818
Total liabilities and stockholders’ equity	$ 5,959,497	$ 5,869,259

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

AppLovin Corp 10-Q