AppLovin reports $1.58 billion net income as 2024 revenue rises 43% to $4.71 billion

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

AppLovin, which provides software and AI tools that help businesses reach, monetize and grow their audiences and also operates a portfolio of mobile games, reported net income of $1.58 billion for 2024, against $356.71 million a year earlier. That was $4.53 a share on a diluted basis, against $0.98. Revenue rose 43% in 2024 to $4.71 billion from $3.28 billion, and income from operations, the profit before interest and tax, was $1.87 billion against $648.2 million. The figures come from AppLovin's 10-K, the annual report a listed company files with the SEC, filed on Feb 27, 2025, after the company's earnings release of Feb 12, 2025.1^,2^,3^,4^,5^,6^,7^,8^,9^,10

Advertising revenue, which comes mainly from fees paid by advertisers using its software, rose 75% to $3.22 billion from $1.84 billion. The company credits better performance of its AppDiscovery product, where the volume of installations rose 50% and net revenue per installation rose 22%. Apps revenue, earned from its free-to-play mobile games, rose 3% to $1.49 billion from $1.44 billion. Its portfolio spans over 200 mobile games across five genres, run by ten studios. In 2024 it averaged 1.6 million monthly active payers, devices that made at least one in-app purchase in a month, with average revenue per monthly active payer of $51.11^,12^,13^,14^,15^,16^,17^,18^,19^,20^,21

The 10-K says that on Feb 12, 2025 AppLovin announced it had entered into a term sheet, an outline of terms rather than a final contract, to sell its mobile gaming business to a privately held company it calls the Acquirer, for total consideration of $900.0 million. Of that, $400.0 million is in shares of the Acquirer's common equity and $500.0 million in cash, subject to customary purchase price adjustments. The Acquirer is to borrow up to $250.0 million of the cash portion, with AppLovin to lend that amount through a promissory note if it cannot. The term sheet is non-binding apart from an agreement to negotiate definitive agreements in good faith, a bar on AppLovin talking to other buyers for a specified period and customary terms such as fees and governing law.22^,23^,24^,25^,26^,27^,28

AppLovin also states adjusted EBITDA, its own non-GAAP measure, at $2.72 billion for 2024 against $1.5 billion a year earlier, a margin of 57.8% against 45.8%, leaving out items such as interest, taxes, amortization and depreciation and stock-based compensation.2^,29^,30^,31^,32

The revenue and income from operations here are read from the 10-K's own tables, and our records keep one value for each period, the latest filed, so they cannot tell whether the year-earlier figures were restated. We hold the 10-K's management discussion and notes, not its other exhibits.33^,34^,35