Q4 25 EPS
$3.24
BEAT +4.18%
Est. $3.11
Q4 25 Revenue
$1.66B
BEAT +3.35%
Est. $1.60B
vs S&P Since Q4 25
+1.4%
BEATING MARKET
APP +7.2% vs S&P +5.8%
Full Year 2025 Results
FY 25 EPS
$9.75
BEAT +4.22%
Est. $9.36
FY 25 Revenue
$5.48B
MISS 4.72%
Est. $5.75B
Market Reaction
Did APP Beat Earnings? Q4 2025 Results
AppLovin delivered a decisive beat in the fourth quarter of 2025, with earnings per share of $3.24 topping the $3.11 consensus by 4.18% and revenue of $1.66 billion clearing estimates by 3.35% as the company's AI-driven advertising platform, anchored… Read more AppLovin delivered a decisive beat in the fourth quarter of 2025, with earnings per share of $3.24 topping the $3.11 consensus by 4.18% and revenue of $1.66 billion clearing estimates by 3.35% as the company's AI-driven advertising platform, anchored by its AXON 2 engine, continued to generate exceptional operating leverage. Revenue climbed 20.8% year-over-year, while Adjusted EBITDA reached $1.40 billion at an 84% margin, up from 77% in the prior-year period, underscoring how efficiently AppLovin is converting growth into profit. Net income nearly doubled and net margins expanded to 66%, reflecting the scalability of a platform where total costs and expenses fell to just 23% of revenue in Q4, compared to 37% a year ago. Investors watching closely for signs of momentum will find further confidence in Q1 2026 guidance, where management projects revenue of $1.75 billion to $1.77 billion alongside an Adjusted EBITDA margin of approximately 84%, signaling no meaningful deceleration on the horizon.
Key Takeaways
- • 66% year-over-year revenue growth in Q4 2025
- • Adjusted EBITDA margin expansion to 84% from 77% year-over-year in Q4
- • Net income margin of 66% in Q4 2025
- • Full-year revenue growth of 70% and net income growth of 111%
- • AI-driven advertising platform scalability driving operating leverage
APP Forward Guidance & Outlook
For Q1 2026, AppLovin expects revenue of $1,745 million to $1,775 million, Adjusted EBITDA of $1,465 million to $1,495 million, and an Adjusted EBITDA margin of approximately 84%.
APP YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
APP Revenue by Segment
With YoY comparisons, source: SEC Filings
APP Earnings Trends
APP vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
APP EPS Trend
Earnings per share: estimate vs actual
APP Revenue Trend
Quarterly revenue: estimate vs actual
APP Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $3.11 | $3.24 | +4.18% | $1.66B | +3.35% |
| FY Full Year | $9.36 | $9.75 | +4.22% | $5.48B | -4.72% |
| Q3 25 BEAT | $2.39 | $2.45 | +2.57% | $1.41B | +4.69% |
| Q2 25 BEAT | $2.32 | $2.39 | +3.24% | $1.26B | +3.15% |
| Q1 25 MISS | $1.96 | $1.67 | -14.58% | $1.48B | +7.65% |
| Q1 23 | $0.07 | — | — | $715.4M | +3.16% |