22 February 2026
Disclaimer: This is a simplified summary of a public company filing. See full disclaimer here.
AppLovin Corp
CIK: 1751008•1 Annual Report•Latest: 2026-02-19
10-K / February 19, 2026
AppLovin
Overview
- Mission: Create meaningful connections between companies and their ideal customers.
- Offering: End-to-end, AI-powered advertising solutions to help businesses reach, monetize, and grow their global audience.
- Competitive advantage: A scaled advertising ecosystem that uses data and distribution to improve efficiency and outcomes for advertisers and publishers.
- Core loop: As advertisers achieve return-on-ad-spend (ROAS) targets with AppLovin’s solutions, revenue grows, providing more data and stronger Axon AI optimization, which further improves distribution and results.
Business model and revenue
- Revenue model: Revenue is generated when advertisers meet or exceed ROAS targets using AppLovin’s advertising solutions.
- Core claim: AppLovin supports advertisers and publishers with better targeting, monetization, and measurement through its technologies and scale.
- Revenue composition: Axon Ads Manager accounts for substantially all of the company’s revenue.
- Data feedback loop: Increased platform usage produces more engagement data, strengthening Axon AI and enhancing Axon Ads Manager’s effectiveness.
Products and solutions
Axon Ads Manager
- Role: Cornerstone marketing solution powered by Axon AI.
- Function: Predictive algorithms match advertiser demand with publisher supply through large-scale, microsecond-speed auctions.
- Pricing model: Advertisers are charged dynamically based on campaign goals rather than a fixed price per impression or action.
- Capabilities:
- Global reach: Connects campaigns with users worldwide and recommends optimal geographies.
- Retention and engagement: Optimizes toward revenue goals with a focus on user retention and long-term value.
- Targeted ROAS: Steers campaigns toward defined ROAS goals with adaptive cost and campaign parameters.
- Features: Advanced campaign management, real-time analytics, and lifetime value (LTV) reporting by source and location.
MAX
- Role: In-app bidding solution that optimizes the value of publishers’ inventory.
- Function: Single, unbiased real-time auction that brings global demand into one auction to increase competition and ad yields.
- Benefits: Increases potential revenue per user, automates monetization via APIs, and supports brand safety with ad quality controls.
- Features: Real-time bidding at scale, automated monetization, ad quality safeguards, and insights into user LTV and revenue.
Adjust
- Role: Measurement and analytics marketing SaaS platform.
- Function: Provides end-to-end attribution, measurement, and fraud prevention to optimize ad performance.
- Capabilities: Accurate attribution data, real-time reporting, and automated attribution solutions to scale profits.
Wurl
- Role: Connected TV (CTV) platform for distribution and advertising.
- Function: Helps content companies distribute streaming video and offers advertising and publishing solutions to maximize revenue.
- Capabilities: Data-driven advertising and measurement for CTV, including monetization and audience growth strategies.
- Offerings:
- AdPool: Monetization solution connecting CTV supply with demand.
- Global FAST Pass (GFP): Distribution solution for launching free ad-supported CTV channels with monetization and audience data.
Platform benefits
- Comprehensive, end-to-end advertising solutions that automate marketing, engagement, and monetization.
- How it helps advertisers:
- Reach: Scale campaigns to find the right users globally and align with ROI targets.
- Monetization: MAX increases yields on ad inventory through competitive bidding.
- Data and automation: Uses real-time insights, dashboards, and automated processes to optimize campaign performance.
- Adaptability: Platform updates to align with changes in the advertising ecosystem.
- Key capabilities:
- Targeted user acquisition and engagement
- Real-time analytics and ROI-focused optimization
- LTV-based reporting to support campaign decisions
Corporate update
- The company completed the sale of its Apps business on June 30, 2025.
