AppLovin (APP) Gross Margin (2020 - 2026)
AppLovin (APP) recorded Gross Margin of 88.26% in Q2 2026, up 0.58 percentage points from 87.68% a year earlier but down 0.69 percentage points from the prior quarter.
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Analysis
AppLovin (APP) Gross Margin (2020 - 2026) Analysis & Trends
On a TTM basis, AppLovin's Gross Margin came in at 88.46% as of Jun 30, 2026, up 2.13 percentage points year-over-year; for FY2025, it came in at 87.86%, up 4.01 percentage points from FY2024.
- Annual Gross Margin has increased for three straight years, with a five-year change of +26.15 percentage points (FY2020 to FY2025).
- Across earlier years, Gross Margin came in at 83.85% in FY2024 (+3.21 pp), 80.64% in FY2023 (+25.23 pp), 55.41% in FY2022 (-9.21 pp) and 64.62% in FY2021 (+2.91 pp).
- Quarterly Gross Margin has ranged from 47.41% in Q4 2022 to 88.95% in Q1 2026 over the past five years.
- On a year-over-year basis, Gross Margin has increased for six consecutive quarters, with an average year-over-year change of +6.38 percentage points over the last seven quarters.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 17.34 percentage points in Q2 2024, against a drop of 19.18 percentage points in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 88.95% (Q1 2026), 88.93% (Q4 2025) and 87.56% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,142.52 Bn | 3,900.05 Bn | 73.85 Bn | 61.65% |
| 2 | Meta Platforms | 1,882.44 Bn | 1,584.96 Bn | 49.47 Bn | 81.37% |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 51.93% |
| 4 | Alibaba Group Holding | 250.25 Bn | 68.12 Bn | 15.11 Bn | 38.11% |
| 5 | Shopify | 192.03 Bn | 169.21 Bn | 1.71 Bn | 47.67% |
| 6 | Uber Technologies | 141.56 Bn | 113.53 Bn | 6.38 Bn | 44.93% |
| 7 | Booking Holdings | 121.98 Bn | 55.03 Bn | - | - |
| 8 | PDD Holdings | 110.31 Bn | -141.62 Bn | 9.45 Bn | 57.06% |
| 9 | AppLovin | 102.49 Bn | 92.52 Bn | 1.70 Bn | 88.26% |
| 10 | Spotify Technology | 101.54 Bn | 58.77 Bn | 1.86 Bn | 33.41% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 88.26% |
| Mar 31, 2026 | 88.95% |
| Dec 31, 2025 | 88.93% |
| Sep 30, 2025 | 87.56% |
| Jun 30, 2025 | 87.68% |
| Mar 31, 2025 | 86.91% |
| Dec 31, 2024 | 84.65% |
| Sep 30, 2024 | 85.52% |
| Jun 30, 2024 | 82.88% |
| Mar 31, 2024 | 72.20% |
| Sep 30, 2023 | 69.33% |
| Jun 30, 2023 | 65.53% |
| Mar 31, 2023 | 63.38% |
| Dec 31, 2022 | 47.41% |
| Sep 30, 2022 | 57.79% |
| Jun 30, 2022 | 60.85% |
| Mar 31, 2022 | 54.95% |
| Dec 31, 2021 | 66.59% |
| Sep 30, 2021 | 65.05% |
| Jun 30, 2021 | 63.24% |
API Access
AppLovin Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=APP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "APP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=APP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();