AppLovin (APP) Operating Expenses (2020 - 2026)
AppLovin (APP) reported Operating Expenses of $429.41 million for Q2 2026, up 42.6% from $301.07 million a year earlier and up 6.7% from the prior quarter.
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Analysis
AppLovin (APP) Operating Expenses (2020 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, AppLovin's Operating Expenses came in at $1.54 billion, up 19.2% year-over-year; for FY2025, it came in at $1.33 billion, up 1.2% from FY2024.
- Operating Expenses has a five-year compound annual growth rate of -2.6% (FY2020 to FY2025).
- By year, Operating Expenses came in at $1.31 billion in FY2024 (+22.8%), $1.07 billion in FY2023 (-62.7%), $2.86 billion in FY2022 (+8.4%) and $2.64 billion in FY2021 (+74.7%).
- The Q2 2026 figure ranks as the highest quarterly Operating Expenses since Q1 2024.
- Year over year, Operating Expenses has now increased in each of the last four quarters, with an average decline of 5.5% over the last seven quarters.
- The high point for year-over-year Operating Expenses in five years was Q3 2021 (growth of 49.1%); the low point was Q3 2024 (a decline of 55.6%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $402.52 million (Q1 2026), $382.7 million (Q4 2025) and $326.04 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,142.52 Bn | 3,900.05 Bn | 73.85 Bn | 79.03 Bn |
| 2 | Meta Platforms | 1,882.44 Bn | 1,584.96 Bn | 49.47 Bn | 42.03 Bn |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 1.51 Bn |
| 4 | Alibaba Group Holding | 250.25 Bn | 68.12 Bn | 15.11 Bn | -5.17 Bn |
| 5 | Shopify | 192.03 Bn | 169.21 Bn | 1.71 Bn | 1.22 Bn |
| 6 | Uber Technologies | 141.56 Bn | 113.53 Bn | 6.38 Bn | 12.30 Bn |
| 7 | Booking Holdings | 121.98 Bn | 55.03 Bn | - | 4.85 Bn |
| 8 | PDD Holdings | 110.31 Bn | -141.62 Bn | 9.45 Bn | -5.39 Bn |
| 9 | AppLovin | 102.49 Bn | 92.52 Bn | 1.70 Bn | 429.41 Mn |
| 10 | Spotify Technology | 101.54 Bn | 58.77 Bn | 1.86 Bn | 640.46 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 429.41 Mn |
| Mar 31, 2026 | 402.52 Mn |
| Dec 31, 2025 | 382.70 Mn |
| Sep 30, 2025 | 326.04 Mn |
| Jun 30, 2025 | 301.07 Mn |
| Mar 31, 2025 | 318.99 Mn |
| Dec 31, 2024 | 371.15 Mn |
| Sep 30, 2024 | 300.89 Mn |
| Jun 30, 2024 | 326.59 Mn |
| Mar 31, 2024 | 718.56 Mn |
| Dec 31, 2023 | -881.78 Mn |
| Sep 30, 2023 | 677.94 Mn |
| Jun 30, 2023 | 618.84 Mn |
| Mar 31, 2023 | 654.36 Mn |
| Dec 31, 2022 | 724.73 Mn |
| Sep 30, 2022 | 663.83 Mn |
| Jun 30, 2022 | 722.88 Mn |
| Mar 31, 2022 | 753.41 Mn |
| Dec 31, 2021 | 734.95 Mn |
| Sep 30, 2021 | 681.90 Mn |
API Access
AppLovin Operating Expenses 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=operating-expenses&ticker=APP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=APP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();