AppLovin Corp Files 10-Q for Q1 2024

TL;DR

<b>AppLovin Corp filed its Q1 2024 10-Q report detailing financial performance and segment data.</b>

AI Summary

AppLovin Corp (APP) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. AppLovin Corp reported Q1 2024 results on May 8, 2024. The filing covers the period ending March 31, 2024. Key financial data for Q1 2024 and Q1 2023 is presented. Balance sheet information as of March 31, 2024, and December 31, 2023, is included. Segment data for Software Platform and Apps revenue is detailed.

Why It Matters

For investors and stakeholders tracking AppLovin Corp, this filing contains several important signals. This filing provides investors with the latest quarterly financial snapshot of AppLovin Corp, crucial for assessing recent performance and trends. The detailed segment information allows for a deeper understanding of revenue drivers within the company's Software Platform and Apps businesses.

Risk Assessment

Risk Level: medium — AppLovin Corp shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains forward-looking statements and financial details that require careful analysis to assess risks.

Analyst Insight

Review the detailed segment revenue and growth figures to understand the performance drivers of AppLovin's Software Platform and Apps businesses.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-05-08 — Filing Date (Filed As Of Date)
• Q1 2024 — Reporting Quarter (Form Type)
• 2023-03-31 — Prior Year Quarter End Date (Comparison Period)

Key Players & Entities

• AppLovin Corp (company) — Filer
• 1100 PAGE MILL RD (address) — Business Address
• PALO ALTO (location) — Business Address City
• CA (location) — Business Address State
• 94304-1047 (postal_code) — Business Address Zip
• DE (location) — State of Incorporation

FAQ

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Key Financial Figures

• $0.00003 — stered Class A common stock, par value $0.00003 per share APP The Nasdaq Stock Market L

Filing Documents

• app-20240331.htm (10-Q) — 1196KB
• exhibit101-amendmentno10to.htm (EX-10.1) — 2733KB
• exhibit3112024033110q.htm (EX-31.1) — 10KB
• exhibit3122024033110q.htm (EX-31.2) — 10KB
• exhibit3212024033110q.htm (EX-32.1) — 8KB
• 0001751008-24-000043.txt (&nbsp;) — 8589KB
• app-20240331.xsd (EX-101.SCH) — 36KB
• app-20240331_cal.xml (EX-101.CAL) — 55KB
• app-20240331_def.xml (EX-101.DEF) — 202KB
• app-20240331_lab.xml (EX-101.LAB) — 515KB
• app-20240331_pre.xml (EX-101.PRE) — 355KB
• app-20240331_htm.xml (XML) — 548KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33 PART II OTHER INFORMATION 34 Item 1.

Legal Proceedings

Legal Proceedings 34 Item 1A.

Risk Factors

Risk Factors 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 72

Other Information

Item 5. Other Information 73 Item 6. Exhibits 74

Signatures

Signatures 75 Table of contents NOTE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include statements about: our future financial performance, including our expectations regarding our revenue, cost of revenue, and operating expenses, and our ability to achieve or maintain future profitability; the sufficiency of our cash and cash equivalents to meet our liquidity needs; our ability to maintain the security and availability of our AppLovin Software Platform and AppLovin Apps; our expectations regarding the effects of existing and developing laws and regulations, including with respect to taxation and privacy and data protection; our ability to attract and retain employees and key personnel; our expectations regarding the macroeconomic environment, inflation and high interest rates, uncertainty in the global banking and financial services markets, political uncertainty and international conflicts around the world; our ability to maintain, protect and enhance our intellectual property; our ability to manage risk associated with our business; the demand for our AppLovin Software Platform and AppLovin Apps; our expectations concerning relationships with third parties; our ability to attract and retain clients and

– FINANCIAL INFORMATION (UNAUDITED)

PART I – FINANCIAL INFORMATION (UNAUDITED)

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements AppLovin Corporation Condensed Consolidated Balance Sheets (in thousands, except for share and per share data) (unaudited) March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 436,336 $ 502,152 Accounts receivable, net 1,035,372 953,810 Prepaid expenses and other current assets 136,180 160,201 Total current assets 1,607,888 1,616,163 Property and equipment, net 172,994 173,331 Goodwill 1,827,197 1,842,850 Intangible assets, net 1,198,122 1,292,635 Other assets 456,316 434,208 Total assets $ 5,262,517 $ 5,359,187 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 390,079 $ 371,702 Accrued and other current liabilities 256,402 278,861 Short-term debt 35,563 215,000 Deferred revenue 80,480 78,559 Total current liabilities 762,524 944,122 Long-term debt 3,489,891 2,905,906 Other non-current liabilities 249,898 252,830 Total liabilities 4,502,313 4,102,858 Commitments and contingencies (Note 4) Stockholders' equity: Preferred stock, $ 0.00003 par value— 100,000,000 shares authorized, no shares issued and outstanding as of March 31, 2024 and December 31, 2023 — — Class A and Class B Common Stock, $ 0.00003 par value— 1,700,000,000 (Class A 1,500,000,000 and Class B 200,000,000 ) shares authorized, 328,958,886 (Class A 273,916,065 and Class B 55,042,821 ) and 339,886,712 (Class A 268,774,090 and Class B 71,112,622 ) shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 11 11 Additional paid-in capital 1,420,895 2,134,581 Accumulated other comprehensive loss ( 83,896 ) ( 65,274 ) Accumulated deficit ( 576,806 ) ( 812,989 ) Total stockholders' equity 760,204 1,256,329 Total liabilities and stockholders' equity $ 5,262,517 $ 5,359,187 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of contents AppLovin Corporation Condensed Consolida

View Full Filing

View this 10-Q filing on SEC EDGAR