Press release
AppLovin Announces Record Third Quarter 2021 Financial Results
Business Software Platform revenue growth accelerates for fourth consecutive quarter to 385% Y/Y Revenue grew 90% Y/Y to $727 million, Organic revenue1
About this update from Applovin Corporation
[{"type":"text","content":"\nBusiness Software Platform revenue growth accelerates for fourth consecutive quarter to 385% Y/Y \n\n\nRevenue grew 90% Y/Y to $727 million, Organic revenue1 increased 58% Y/Y\n\n\nBusiness Software Platform revenue grew 385% Y/Y to $193 million\n\n\nAchieved record Software Platform Enterprise Clients2 (SPEC) of 449\n\n\nNet Income improved Y/Y to $0.1 million from a Net Loss of $90 million, with net margin of 0.0% \n\n\nAdjusted EBITDA grew 126% Y/Y to $191 million and Adjusted EBITDA margin improved to 26%\n\n\n PALO ALTO, Calif.--(BUSINESS WIRE)--\nAppLovin Corporation (NASDAQ: APP) (“AppLovin” or “we”), a leading marketing platform, today announced financial results for the third quarter ended September 30, 2021 and posted a letter to its shareholders on its investor relations website.\n\n“We are proud to report another record quarter and strong performance across all our businesses that really highlight the impressive scale and accelerating growth of our ML-based software platform,” said Adam Foroughi, CEO and co-founder of AppLovin. “By continuing to execute on our mission to build tools to help app developers grow their businesses, we saw tremendous growth in our Software Platform revenue, in particular our AppDiscovery business. We believe our recent agreement to acquire MoPub will further augment our competitive position in our large and rapidly growing market.\"\n\nHerald Chen, CFO of AppLovin said, “We are pleased to report 90% year over year growth in revenue including 385% growth in Business Software Platform driven by a combination of our strong SPEC count growth to 449 and robust Net Dollar-Based Retention Rate3 of 255%. Given our top-line performance, our net income improved year over year and our Adjusted EBITDA grew 126%. Our ability to grow at such a rapid pace underscores the value that advertisers and publishers are finding in our differentiated marketing solutions. We continue to invest across the business, both organically and through acquisitions, to drive our long-term growth.\"\n\nThird Quarter 2021 Financial Summary and Highlights\n\n(Note: All comparisons are versus 3Q20 and growth rates referenced are year-over-year unless otherwise noted; Due to rounding, numbers presented may not add up precisely to the totals provided)\n\n\nRevenue grew 90% to $727 million with organic growth1 of 58%\n\n\nBusin...