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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
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Company details
Market cap
$155B
P/E ratio
46×
Revenue (TTM)
$6.2B
Rev. growth
+59%
Adj. EBITDA margin
85%
Free cash flow (Q1)
$1.3B
EPS (Q1)
$3.56
Net income (Q1)
$1.2B
In plain English
AppLovin is an AI advertising machine. Its AXON engine evaluates billions of ad impressions a second and decides — for the advertiser — which ad to show whom, matching app developers and e-commerce brands to the right users. After selling off its mobile-games studios to Tripledot in 2025, it is now a pure software platform racing into e-commerce advertising against Meta, Google and The Trade Desk.
In simple terms
From a rented GPU to the ad you see
AppLovin rents cloud compute (AWS) and GPUs (NVIDIA), feeds billions of ad impressions into its AXON model, and uses it to decide — in microseconds — which ad to show you. Publishers supply the ad slots through MAX; advertisers buy the result through the self-serve platform.
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