AppLovin Corp (APP) closed fiscal year 2025 with a gross margin of 87.9 % and a net margin of 60.8 %.
AppLovin Corp (APP) closed fiscal year 2025 with a gross margin of 87.9 % and a net margin of 60.8 %. The same year shows an EBITDA margin of 79.3 % and an EBIT margin of 75.8 %. The free cash flow margin was 71.9 %. Against the previous year the gross margin moved +4.0 pp and the net margin +11.8 pp. Across the period the gross margin ranges between 55.4 % in 2022 and 87.9 % in 2025. The series covers 7 fiscal years, from 2019 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|
| Gross margin (%) | 75.73 % | 61.71 % | 64.62 % | 55.41 % | 80.64 % | 83.85 % | 87.86 % |
| EBITDA margin (%) | 28.89 % | 13.29 % | 20.80 % | 17.72 % | 68.49 % | 73.19 % | 79.31 % |
| EBIT margin (%) | 19.55 % | -4.28 % | 5.37 % | -1.70 % | 41.94 % | 59.27 % | 75.75 % |
| Net margin (%) | 11.97 % | -8.63 % | 1.27 % | -6.84 % | 19.37 % | 49.00 % | 60.83 % |
| FCF margin (%) | 19.63 % | 15.14 % | 12.91 % | 14.63 % | 57.41 % | 64.96 % | 71.94 % |
