AppLovin (APP) Operating Expenses (2020 - 2026)
AppLovin (APP) posted quarterly Operating Expenses of $402.5 million for Q1 2026, up 26.18% year-over-year from $319.0 million in Q1 2025, and up 5.18% quarter-over-quarter from $382.7 million in Q4 2025.
AppLovin (APP) Operating Expenses (2020 - 2026) Analysis & Trends
AppLovin (APP) has reported Operating Expenses for 7 consecutive years, with $402.5 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 26.18% year-over-year to $402.5 million; the TTM figure through Mar 2026 stood at $1.4 billion (up 7.19% YoY), while the FY2025 annual figure was $1.3 billion, up 1.2% from the prior year.
- Operating Expenses improved to $402.5 million in Q1 2026 per APP's latest filing, from $382.7 million in the prior quarter.
- Across five years, Operating Expenses topped out at $753.4 million in Q1 2022 and bottomed at -$881.8 million in Q4 2023.
- Historically, Operating Expenses has averaged $434.3 million across 5 years, with a median of $402.5 million in 2026.
- Annual changes were most pronounced in 2023 — Operating Expenses slumped 221.67% — and 2024, when it soared 142.09%.
- AppLovin's Operating Expenses stood at $724.7 million in 2022, then plunged by 221.67% to -$881.8 million in 2023, then jumped by 142.09% to $371.2 million in 2024, then increased by 3.11% to $382.7 million in 2025, then increased by 5.18% to $402.5 million in 2026.
- Business Quant data shows APP's Operating Expenses at $402.5 million in Q1 2026, $382.7 million in Q4 2025, and $326.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | AppLovin | 103.70 Bn | 100.65 Bn | 1.70 Bn | 429.41 Mn |
| 2 | Omnicom | 24.37 Bn | 21.03 Bn | 1.30 Bn | 5.64 Bn |
| 3 | Trade Desk | 6.27 Bn | 4.78 Bn | 530.72 Mn | 613.48 Mn |
| 4 | Wpp | 5.67 Bn | 2.50 Bn | - | - |
| 5 | Magnite | 3.35 Bn | 3.02 Bn | 130.79 Mn | 161.60 Mn |
| 6 | Stagwell | 2.09 Bn | 1.98 Bn | 269.24 Mn | 774.76 Mn |
| 7 | DoubleVerify Holdings | 2.05 Bn | 1.84 Bn | 161.31 Mn | 75.23 Mn |
| 8 | Ziff Davis | 2.02 Bn | 410.50 Mn | 241.03 Mn | 331.46 Mn |
| 9 | Clear Channel Outdoor Holdings | 1.22 Bn | 1.02 Bn | 241.86 Mn | 106.55 Mn |
| 10 | Quinstreet | 1.17 Bn | 1.06 Bn | 41.34 Mn | 23.08 Mn |
Historic Data
Download 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 |