Short answer
AppLovin (APP) filed its Q3 2025 10-Q quarterly report on Nov 5, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $1.4B (up 17.3% year over year) with net income of $836M.
Q3 2025 key financials · XBRL
- Revenue
- $1.4B
- +17.3% YoY · +50.5% QoQ
- Net income
- $836M
- +92.3% YoY · +2.0% QoQ
- Operating margin
- 76.8%
- EPS (diluted)
- $2.45
- +96.0% YoY · +2.5% QoQ
Source: XBRL data from the AppLovin (APP) Q3 2025 10-Q on SEC EDGAR. USD.
AppLovin Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $1.4B Q3 FY25, up 68% YoY from $835M Q3 FY24, driven by 75% increase in net revenue per installation on Axon Advertising
- Net income $836M Q3 FY25 vs $434M Q3 FY24; net margin 59.5% vs 52.0% YoY; Adjusted EBITDA margin 82.4% vs 77.5% YoY
- Best segment: Axon Advertising with 75% higher net revenue per installation; worst: reduced installations by 1% YoY
- Net cash from operations $2.7B YTD FY25, up from $1.4B YTD FY24; Share repurchases $1.8B in nine months ended Sept 2025
- Near-term outlook includes continued R&D and sales investment, global client growth, AI enhancements; risks from platform policy changes noted
Risk Factors
- New strategic risk: Indication of interest to US President to explore purchase of TikTok outside China announced April 2025, with potential operational disruptions and significant transaction costs
- Updated regulatory risk: EU-U.S. Data Privacy Framework and UK Extension effective 2023, but legal challenges and data transfer uncertainties remain impacting compliance costs
- Compliance risk: Increased regulatory scrutiny on AI and privacy laws including California CPRA effective 2023 and FTC’s COPPA rule amendments effective April 2026
- Operational risk: Dependence on third-party platforms like Apple and Google exposed to evolving privacy policies such as Apple’s iOS 17 SDK controls and Google Privacy Sandbox retirements
- Financial risk: $3.6B senior unsecured notes outstanding plus $1B credit facility; debt covenants and potential refinancing risks could limit operational flexibility
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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