AppLovin said revenue for the 3 months ended March 31, 2024 rose 48% year over year to $1.06 billion from $715.4 million in the prior-year period. It reported net income of $236.2 million, compared with a net loss of $4.5 million in the prior-year period.

1. 01

   AppLovin said revenue for the 3 months ended March 31, 2024 rose 48% year over year to $1.06 billion from $715.4 million in the prior-year period. It reported net income of $236.2 million, compared with a net loss of $4.5 million in the prior-year period.

2. 02

   The company said Software Platform Revenue for the 3 months ended March 31, 2024 increased $323.6 million, or 91%, from the prior-year period. It cited improved AppDiscovery performance as the main driver, and described a 5% increase in net revenue per installation and a 87% increase in the volume of installations.

3. 03

   The company said net cash provided by operating activities was $392.8 million for the 3 months ended March 31, 2024 ($288.7 million in the prior-year period), and Free Cash Flow was $387.6 million ($283.1 million in the prior-year period).

4. 04

   The company said it repurchased 13,466,397 shares of Class A common stock for $752.2 million, including commissions, in the 3 months ended March 31, 2024. It said net cash used in financing activities for the same period was $424.6 million, and explained this as proceeds from debt issuance of $1,072.3 million less principal repayments of $669.0 million.

Key figures

Quarter ended March 31, 2024

Revenue

$1.1B

Operating income

$340M

Net income

$236M

EPS

$0.67

Operating cash flow

$393M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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