AppLovin Corporation earnings overview

APP FY2026 Q1 · Calendar Q2 2026

AppLovin Corporation

AppLovin's Q1 2026 results underscore a platform increasingly powered by proprietary AI. Revenue of $1.84B (+59% YoY) and adjusted EBITDA of $1.56B (+66% YoY) both exceeded guidance, while an 85% EBITDA margin signals operating leverage at scale. The Axon self-serve launch in June structurally expands the addressable market, and early AI creative tools are already driving measurable advertiser ROI. With $2.76B in cash and $1B in buybacks, the company is funding growth while returning capital. The key question is whether self-serve onboarding can scale without diluting ad spend quality.