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Sentiment · FY2026 Q2
As of FY2026 Q1, the Tellvest earnings-call sentiment score for Applovin Corp (APP) is 9/10.
AppLovin delivered Q1 revenue of $1.84 billion, up 59% year-over-year and 11% sequentially, exceeding the high end of its own guidance on both revenue and adjusted EBITDA. Adjusted EBITDA was $1.56 billion, up 66% year-over-year, a record 85% margin that expanded approximately 400 basis points from the same period last year. The consumer vertical, still only about 1.5 years old, exited the quarter accelerating, with March advertiser spend running roughly 25% above January and April reaching a record month higher than any peak Q4 month, helped by a material model release a couple of weeks before the call. Gaming remained the foundation, with management pointing to AI tools lowering studios' cost of experimentation and IAP-only developers beginning to test hybrid ad monetization now that non-gaming consumer advertisers remove competitive concerns. The defining forward event is the June opening of Axon to all advertisers after 14 years as a closed platform.
Scored from Applovin Corp’s FY2026 Q1 earnings call. The newest quarter is available with Tellvest Pro.
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $1.37B | +44.0% | $1.73 | +253.1% | 44.3% | 43.6% | $696M |
| FY2025 Q1 | $1.16B | +9.5% | $1.67 | +149.3% | 72.5% | 49.7% | $832M |
| FY2025 Q2 | $1.26B | +77.0% | $2.39 | +168.5% | 76.1% | 65.1% | $772M |
| FY2025 Q3 | $1.41B | +68.2% | $2.45 | +96.0% | 76.8% | 59.5% | $1.05B |
| FY2025 Q4 | $1.66B | +20.8% | $3.24 | +87.3% | 76.9% | 66.5% | $1.29B |
| FY2026 Q1 | $1.84B | +59.0% | $3.56 | +113.2% | 78.2% | 65.4% | $1.29B |
| FY2026 Q2 | $1.92B | +52.8% | $3.76 | +57.3% | 77.7% | 65.8% | $869M |
All prior quarters are free.
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