AppLovin (APP) Cost of Revenue (2020 - 2026)
AppLovin (APP) posted quarterly Cost of Revenue of $203.6 million for Q1 2026, up 34.25% year-over-year from $151.7 million in Q1 2025, and up 10.95% quarter-over-quarter from $183.5 million in Q4 2025.
AppLovin (APP) Cost of Revenue (2020 - 2026) Analysis & Trends
AppLovin (APP) has reported Cost of Revenue for 7 consecutive years, with $203.6 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Cost of Revenue rose 34.25% year-over-year to $203.6 million; the TTM figure through Mar 2026 stood at $717.1 million (up 30.92% YoY), while the FY2025 annual figure was $665.1 million, up 27.76% from the prior year.
- Cost of Revenue improved to $203.6 million in Q1 2026 per APP's latest filing, from $183.5 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $369.4 million in Q4 2022 and bottomed at -$429.0 million in Q4 2023.
- Historically, Cost of Revenue has averaged $186.6 million across 5 years, with a median of $203.6 million in 2026.
- Annual changes were most pronounced in 2023 — Cost of Revenue plunged 216.14% — and 2024, when it soared 135.76%.
- AppLovin's Cost of Revenue stood at $369.4 million in 2022, then slumped by 216.14% to -$429.0 million in 2023, then jumped by 135.76% to $153.4 million in 2024, then rose by 19.65% to $183.5 million in 2025, then grew by 10.95% to $203.6 million in 2026.
- Business Quant data shows APP's Cost of Revenue at $203.6 million in Q1 2026, $183.5 million in Q4 2025, and $174.9 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | AppLovin | 103.70 Bn | 100.65 Bn | 1.70 Bn | 225.80 Mn |
| 2 | Omnicom | 24.37 Bn | 21.03 Bn | 1.30 Bn | 5.26 Bn |
| 3 | Trade Desk | 6.27 Bn | 4.78 Bn | 530.72 Mn | 184.33 Mn |
| 4 | Wpp | 5.67 Bn | 2.50 Bn | - | - |
| 5 | Magnite | 3.35 Bn | 3.02 Bn | 130.79 Mn | 62.04 Mn |
| 6 | Stagwell | 2.09 Bn | 1.98 Bn | 269.24 Mn | 517.06 Mn |
| 7 | DoubleVerify Holdings | 2.05 Bn | 1.84 Bn | 161.31 Mn | 32.48 Mn |
| 8 | Ziff Davis | 2.02 Bn | 410.50 Mn | 241.03 Mn | 45.71 Mn |
| 9 | Clear Channel Outdoor Holdings | 1.22 Bn | 1.02 Bn | 241.86 Mn | 196.18 Mn |
| 10 | Quinstreet | 1.17 Bn | 1.06 Bn | 41.34 Mn | 304.80 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 225.80 Mn |
| Jun 30, 2026 | 225.80 Mn |
| Mar 31, 2026 | 203.63 Mn |
| Mar 31, 2026 | 203.63 Mn |
| Dec 31, 2025 | 183.53 Mn |
| Dec 31, 2025 | 183.53 Mn |
| Sep 30, 2025 | 174.86 Mn |
| Sep 30, 2025 | 174.86 Mn |
| Jun 30, 2025 | 155.08 Mn |
| Jun 30, 2025 | 155.08 Mn |
| Mar 31, 2025 | 151.68 Mn |
| Mar 31, 2025 | 151.68 Mn |
| Dec 31, 2024 | 153.39 Mn |
| Dec 31, 2024 | 153.39 Mn |
| Sep 30, 2024 | 120.92 Mn |
| Sep 30, 2024 | 120.92 Mn |
| Jun 30, 2024 | 121.76 Mn |
| Jun 30, 2024 | 121.76 Mn |
| Mar 31, 2024 | 294.15 Mn |
| Mar 31, 2024 | 294.15 Mn |