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AppLovin (APP) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · AppLovin (APP) Q3 2026 earnings results →
Q3 2026 Revenue up 56% year over year to $2.2B · 66¢ of every $1 of revenue kept as net profit · operating margin 78.2%
AppLovin made $2.2B in Q3 2026 (+56% Y/Y). Operating margin 78.2%, net earnings $1.4B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $2.2B in Q3 2026, up 55% year over year and up 14% from the previous quarter.
Operating profit was $1.7B, a 78.2% margin (up 1.4 points year over year). Of the extra revenue versus Q3 2025, 81% reached operating profit, above the 77% margin then. Total costs grew 46% against revenue growth of 55%. The fastest-growing cost line was Research & development (+132%). Net earnings were $1.4B, up 72% year over year. The effective tax rate was 17.5%.
Operating cash flow was $1.4B (up 36% year over year), 99% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items used $0.13B. After purchase of property and equipment ($0.01B) and principal payments of finance leases ($2.9M), free cash flow as the company reports it was $1.4B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $2.2B | +56% | 78.2% | $1.4B | $1.4B |
| Q2 2026 | 10-Q | Aug 5, 2026 | $1.9B | +53% | 77.7% | $1.3B | $869M |
| Q1 2026 | 10-Q | May 6, 2026 | $1.8B | +59% | 78.2% | $1.2B | $1.3B |
| Q4 2025 | 10-K | Feb 19, 2026 | $1.7B | +66% | 76.9% | $1.1B | $1.3B |
| Q3 2025 | 10-Q | Nov 5, 2025 | $1.4B | +68% | 76.8% | $836M | $1.1B |
| Q2 2025 | 10-Q | Aug 6, 2025 | $1.3B | +77% | 76.1% | $820M | $772M |
| Q1 2025 | 10-Q | May 7, 2025 | $1.5B | +40% | 44.7% | $576M | $832M |
Charts
In supply chains and themes
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About AppLovin
Our mission is to create meaningful connections between companies and their ideal customers. We provide end-to-end artificial intelligence-powered ("AI") advertising solutions for businesses to reach, monetize and grow their global audience. Our scaled business model is intricately linked to the advertising ecosystem, providing a durable competitive advantage. We generate revenue when our advertisers achieve their return on advertising spend targets with our advertising solutions, ensuring that their success directly fuels our growth. AppLovin is critical to the success of advertisers and publishers seeking to solve marketing and monetization challenges.
In its own words, from its 10-K, filed Feb 19, 2026.
AppLovin against its Services-Computer Programming, Data Processing, Etc. peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +56% against the peers' median +14%. Operating margin: 78.2% against the peers' median 19.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| APP AppLovin | Q3 2026 | $2.2B | +56% | 78.2% |
| GOOGL Alphabet | Q3 2026 | $127.6B | +25% | 31.8% |
| META Meta Platforms | Q3 2026 | $64.6B | +26% | 20.1% |
| SPCX Space Exploration Technologies | Q3 2026 | $14.6B | +161% | 19.1% |
| FLUT Flutter Entertainment | Q3 2026 | $3.9B | +2% | -30.7% |
| SNAP Snap | Q3 2026 | $1.7B | +14% | 4.5% |
| ZM Zoom Communications | Q2 FY27 | $1.3B | +5% | 24.6% |
| PINS Pinterest | Q3 2026 | $1.2B | +12% | 2.6% |
| NIQ NIQ Global Intelligence | Q2 2026 | $1.1B | +8% | 5.8% |
Source: AppLovin 10-Q on SEC EDGAR · CIK 1751008 · Services-Computer Programming, Data Processing, Etc.
Guidance and outlook
13F: who owns APP and who is buying
More on APP
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results