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Sep 30, 2023
AppLovin Q3 2023 Earnings Report
AppLovin's Q3 2023 financial performance marked a record, driven by the strong performance of AXON 2.0 and the AppDiscovery platform.
Key Takeaways
AppLovin announced record third quarter financial results, exceeding guidance for revenue, Adjusted EBITDA, and margin, primarily driven by the performance of AXON 2.0. Total revenue grew 21% year-over-year to $864 million, and Adjusted EBITDA grew 63% year-over-year to $419 million.
Total revenue grew 21% year-over-year to $864 million, with net income improving to $109 million, yielding a net margin of 13%.
Adjusted EBITDA increased by 63% year-over-year to $419 million, resulting in an improved Adjusted EBITDA margin of 49%.
Net cash from operating activities totaled $199 million, while Free Cash Flow reached $194 million.
Software Platform revenue was $504 million, a 65% year-over-year increase, with Adjusted EBITDA at $364 million, reflecting a 91% year-over-year growth and an Adjusted EBITDA margin of 72%.
Forward Guidance
No specific forward guidance was provided in the press release.
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