AppLovin (APP) FY2023 results: revenue $1.8 billion, down 34.6% on the year
AppLovin Corp. (APP) reported revenue of $1.8 billion for fiscal 2023, the year ended 31 December 2023, down 34.6% on the year before. Net income was $357 million, and diluted earnings per share $0.98. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2024.
Revenue
$1.8 billion
-34.6% on the year
FY2019FY2023
Operating margin
41.9%
-1.7% a year earlier
FY2019FY2023
Net income
$357 million
FY2019FY2023
Diluted EPS
$0.98
FY2019FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,062
413
362
+157.2%
Capital expenditure
4.2
0.7
1.4
+541.4%
Free cash flow
1,057
412
360
+156.5%
Free cash flow margin
57.4%
14.6%
12.9%
Cash from investing
-77.8
-1,371
-1,215
Cash from financing
-1,563
-527
3,110
Depreciation and amortisation
489
547
431
-10.6%
Share-based compensation
363
192
133
+89.5%
Buybacks
1,154
339
0.0
+240.4%
Diluted shares, weighted
363m
372m
343m
-2.4%
Shares outstanding at period end
340m
374m
375m
-9.1%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,256
1,903
2,138
-34.0%
Redeemable equity
0.0
0.0
0.2
Short-term borrowings
215
33.3
25.8
+545.5%
Debt
3,121
3,212
3,228
-2.8%
Operating lease liabilities
42.9
54.2
62.5
-20.8%
Finance lease liabilities
144
44.7
24.1
+222.3%
Other liabilities
580
601
685
-3.6%
Total liabilities and equity
5,359
5,848
6,164
-8.4%
Fixed assets
n/a
n/a
63.6
Goodwill
1,497
1,824
966
-17.9%
Intangible assets
1,293
1,678
1,709
-23.0%
Cash and equivalents
502
1,080
1,521
-53.5%
Receivables
954
703
515
+35.7%
Other assets
1,113
563
1,389
+97.7%
Total assets
5,359
5,848
6,164
-8.4%
10-K for the year ended 31 December 2023, filed 26 February 2024: the filing.