AppLovin Corp Files Q3 2024 10-Q

TL;DR

**AppLovin Q3 10-Q filed. Financials out.**

AI Summary

AppLovin Corp filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial data and disclosures relevant to investors are presented within this report.

Why It Matters

This 10-Q filing provides crucial financial insights into AppLovin Corp's performance for the third quarter of 2024, impacting investor decisions and market perception.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal risks or opportunities impacting the company's valuation.

Key Numbers

• Q3 2024 — Reporting Period (Financial performance for the third quarter of 2024 is detailed.)
• 2024-09-30 — As of Date (The end date for the financial data presented in the report.)

Key Players & Entities

• AppLovin Corp (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241106 (date) — Filing date

FAQ

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-20240930.htm (10-Q) — 1489KB
• exhibit3112024093010q.htm (EX-31.1) — 10KB
• exhibit3122024093010q.htm (EX-31.2) — 10KB
• exhibit3212024093010q.htm (EX-32.1) — 8KB
• 0001751008-24-000062.txt ( ) — 6123KB
• app-20240930.xsd (EX-101.SCH) — 33KB
• app-20240930_cal.xml (EX-101.CAL) — 56KB
• app-20240930_def.xml (EX-101.DEF) — 192KB
• app-20240930_lab.xml (EX-101.LAB) — 514KB
• app-20240930_pre.xml (EX-101.PRE) — 354KB
• app-20240930_htm.xml (XML) — 689KB

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 71

Other Information

Item 5. Other Information 72 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, privacy, data protection and AI; 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 successfully expand our AI capabilities to support the further development of our Software Platform, including our advertising recommendation engine, AXON; our ability to maintain, protect and enhance our intellectual property; our ability to manage risk associated with our business; t

– 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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 567,596 $ 502,152 Accounts receivable, net 1,187,431 953,810 Prepaid expenses and other current assets 120,393 160,201 Total current assets 1,875,420 1,616,163 Property and equipment, net 177,052 173,331 Goodwill 1,852,299 1,842,850 Intangible assets, net 1,023,643 1,292,635 Other assets 514,070 434,208 Total assets $ 5,442,484 $ 5,359,187 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 427,817 $ 371,702 Accrued and other current liabilities 240,275 278,861 Short-term debt 35,563 215,000 Deferred revenue 75,881 78,559 Total current liabilities 779,536 944,122 Long-term debt 3,474,456 2,905,906 Other non-current liabilities 250,286 252,830 Total liabilities 4,504,278 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 September 30, 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, 335,481,141 (Class A 298,557,111 and Class B 36,924,030 ) and 339,886,712 (Class A 268,774,090 and Class B 71,112,622 ) shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 11 11 Additional paid-in capital 992,588 2,134,581 Accumulated other comprehensive loss ( 54,393 ) ( 65,274 ) Retained Earnings (Accumulated deficit) — ( 812,989 ) Total stockholders' equity 938,206 1,256,329 Total liabilities and stockholders' equity $ 5,442,484 $ 5,359,187 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of contents AppLovin Corporation

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View this 10-Q filing on SEC EDGAR