The earnings call demonstrated strong financial performance with significant revenue and EBITDA growth, successful strategic shifts including the sale of the Apps business, and promising advancements in their ad platform. However, there were noted challenges in the pace of e-commerce onboarding and international expansion. Overall, the positive aspects significantly outweighed the challenges.

Company Guidance -

Q3 2025

During the earnings call for AppLovin's second quarter of fiscal year 2025, significant guidance metrics were provided for the upcoming periods. The company anticipates delivering between $1.320 billion and $1.340 billion in revenue for the third quarter of 2025, with an adjusted EBITDA between $1.070 billion and $1.090 billion, targeting an adjusted EBITDA margin of 81%. This guidance reflects an expected continuation of strong growth, supported by the sale of their Apps business to Tripledot Studios, which closed at the end of the quarter. The company also reported a revenue increase of 77% year-over-year to approximately $1.260 billion in the second quarter, with adjusted EBITDA nearly doubling to $1.020 billion, achieving an 81% adjusted EBITDA margin. Free cash flow for the second quarter was $768 million, up 72% year-over-year. The company plans to open its new AXON ads manager more broadly on October 1, 2025, on a referral basis, aiming to capture 20% to 30% year-over-year growth driven by gaming and to expand outside its core market.

Strong Revenue and EBITDA Growth

Revenue increased by 77% year-over-year to approximately $1.260 billion, and adjusted EBITDA nearly doubled to $1.020 billion, achieving an 81% adjusted EBITDA margin.

Successful Sale of Apps Business

Completed the sale of the Apps business to Tripledot Studios, which contributed $425 million in net cash and generated significant free cash flow.

Launch of AXON Ads Manager

Launched a new self-service portal, AXON ads manager, aimed at expanding beyond core gaming markets and set for broader release in 2026.

Strong Free Cash Flow Generation

Generated $768 million in free cash flow, up 72% year-over-year, despite timing of payments affecting the quarter.

Positive Financial Guidance for Q3

Anticipated Q3 revenue between $1.320 billion and $1.340 billion, with adjusted EBITDA between $1.070 billion and $1.090 billion, maintaining an 81% EBITDA margin.

AppLovin (DE:6RV) Earnings, Revenues Date & History

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DE:6RV Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	1.97 / -	1.073	―	―	―
Aug 06, 2025	2025 (Q2)	1.68 / 2.05	0.764	168.54% (+1.29)	―
May 07, 2025	2025 (Q1)	1.24 / 1.43	0.575	149.25% (+0.86)
Feb 12, 2025	2024 (Q4)	1.08 / 1.49	0.421	253.06% (+1.06)	―
Nov 06, 2024	2024 (Q3)	0.79 / 1.07	0.258	316.67% (+0.82)	―
Aug 07, 2024	2024 (Q2)	0.64 / 0.76	0.189	304.55% (+0.58)	―
May 08, 2024	2024 (Q1)	0.49 / 0.58	-0.009	6800.00% (+0.58)	―
Feb 14, 2024	2023 (Q4)	0.30 / 0.42	-0.18	333.33% (+0.60)	―
Nov 08, 2023	2023 (Q3)	0.23 / 0.26	0.052	400.00% (+0.21)	―
Aug 09, 2023	2023 (Q2)	0.07 / 0.19	-0.052	466.67% (+0.24)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:6RV Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	€331.45	€374.10	+12.87%
May 07, 2025	€261.60	€304.30	+16.32%
Feb 12, 2025	€368.25	€440.40	+19.59%
Nov 06, 2024	€158.00	€220.00	+39.24%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.