DafinchiIt was a voluntary request, which we never deemed material. The SEC has recently advised us that it concluded its inquiry with no recommended action.
APP2026 Q2Technology
1mo
AppLovin Corporation 2026 Q2: Financial Performance summary
Financial Performance Summary
- Adjusted EBITDA margins expanded by approximately 300 basis points versus the prior-year period; quarter-over-quarter flow-through to adjusted EBITDA was 70%.
- Adjusted EBITDA was $1.61B, up 58% YoY, and also just below the guidance range.
- Delivered almost $2.0B revenue in Q2 2026 (about $1.92B reported), just below the midpoint of guidance, with 53% YoY and 4% sequential growth.
- Ended the quarter with $3.05B cash and $3.7B total debt, implying net leverage of approximately 0.1x trailing 12-month adjusted EBITDA.
- Free cash flow was $863M; conversion was below normal cadence due to timing of international cash tax and interest payments.
- Repurchased and withheld ~1.14M shares for $551M, ending with 335M shares outstanding and ~$1.8B remaining under the share repurchase authorization.
- Sequential cost increase was primarily driven by higher compute associated with training existing models and developing new models.