AppLovin Corp
For the period ended Mar 31, 2024. Filed May 8, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of contents
| Page | |||
|---|---|---|---|
| PART I | FINANCIAL INFORMATION (UNAUDITED) | 3 | |
| Item 1. | Condensed Consolidated Financial Statements | 3 | |
| Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 | 3 | ||
| Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 | 4 | ||
| Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 | 5 | ||
| Condensed Consolidated Statements of Stockholders’ Equity for the Three Months Ended March 31, 2024 and 2023 | 6 | ||
| Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 | 7 | ||
| Notes to Condensed Consolidated Financial Statements | 9 | ||
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 19 | |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | 33 | |
| Item 4. | Controls and Procedures | 33 | |
| PART II | OTHER INFORMATION | 34 | |
| Item 1. | Legal Proceedings | 34 | |
| Item 1A. | Risk Factors | 34 | |
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | 72 | |
| Item 5. | Other Information | 73 | |
| Item 6. | Exhibits | 74 | |
| Signatures | 75 | ||
NOTE ABOUT FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include statements about:
our future financial performance, including our expectations regarding our revenue, cost of revenue, and operating expenses, and our ability to achieve or maintain future profitability;
the sufficiency of our cash and cash equivalents to meet our liquidity needs;
our ability to maintain the security and availability of our AppLovin Software Platform and AppLovin Apps;
our expectations regarding the effects of existing and developing laws and regulations, including with respect to taxation and privacy and data protection;
our ability to attract and retain employees and key personnel;
our expectations regarding the macroeconomic environment, inflation and high interest rates, uncertainty in the global banking and financial services markets, political uncertainty and international conflicts around the world;
our ability to maintain, protect and enhance our intellectual property;
our ability to manage risk associated with our business;
the demand for our AppLovin Software Platform and AppLovin Apps;
our expectations concerning relationships with third parties;
our ability to attract and retain clients and users;
our ability to develop new products, features, and enhancements for our AppLovin Software Platform and to launch or acquire new AppLovin Apps and successfully monetize them;
our ability to compete with existing and new competitors in existing and new markets and offerings;
our ability to successfully acquire and integrate companies and assets and to expand and diversify our operations through strategic acquisitions and partnerships;
our expectations regarding new and evolving markets;
our expectations and management of future growth;
our expectations regarding our share repurchase program; and
our ability to develop and protect our brand.
We caution you that the foregoing list may not contain all of the forward-looking statements made in this Quarterly Report on Form 10-Q.
You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this Quarterly Report on Form 10-Q primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations, and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, and other factors, including those described in the section titled “Risk Factors” and elsewhere in this Quarterly Report on Form 10-Q. Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q. We cannot assure you that the results, events, and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements.
Neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Moreover, the forward-looking statements made in this Quarterly Report on Form 10-Q relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this Quarterly Report on Form 10-Q to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, partnerships, mergers, dispositions, joint ventures, or investments we may make.
In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this Quarterly Report on Form 10-Q, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.