Software revenue grows over +200% organically1 Y/Y and +40% Q/Q
- Revenue grew +123% Y/Y to $669 million, Organic growth1 increased +97% Y/Y
- Business Software Platform revenue grew +256% Y/Y to $146 million
- Achieved record Software Platform Enterprise Clients2 (SPEC) of 366
- GAAP Net Income improved to $14 million from a Net Loss of $22 million, with GAAP net margin of 2%
- Adjusted EBITDA grew 202% Y/Y to $184 million and Adjusted EBITDA margin improved to 27%
AppLovin Corporation (NASDAQ: APP) (“AppLovin” or “we”), a leading marketing platform, today announced financial results for the second quarter ended June 30, 2021 and posted a letter to its shareholders on its investor relations website.
“We are pleased to report excellent progress during 2Q21, advancing our software business at record rates resulting in our best financial performance yet,” said Adam Foroughi, CEO and co-founder of AppLovin. “Our strong execution and growth this quarter, in spite of anticipated industry headwinds around data privacy, speaks to the tremendous opportunity ahead of us and to the distinct advantages leveraging our ML-based software and proprietary first-party insights to help clients grow.”
Herald Chen, CFO of AppLovin said, “In 2Q, we achieved record financial results, with total revenue more than doubling year-over-year to $669 million, and our Adjusted EBITDA more than tripling to $184 million, with Adjusted EBITDA margin improving to 27%. Our Software Platform business had exceptional performance with 2Q21 revenue more than tripling year-over-year organically and up +40% over 1Q21 and grew even faster when including the acquisition of Adjust. Our Apps business saw solid +102% year-over-year growth, and we have several new evergreen titles slated to launch later in 2021. With our strong performance and momentum, we are confident in our annual guidance with additional opportunities for growth in 2H2021.”
Second Quarter 2021 Financial Summary and Highlights
(All comparisons are versus 2Q20 unless otherwise noted)
- Revenue grew 123% to $669 million with organic growth1 of 97%
- Business Software Platform revenue was $146 million, an increase of 256% and organic growth1 of 203%; Year-over-year growth accelerated for the third consecutive quarter driven by our AXON-ML engine.
- Total Software Transaction Value (TSTV)3 was $219 million, an increase of 361%; our platform exited 2Q at an annualized4 TSTV run-rate of approximately $900 million.
- Software Platform Enterprise Clients2 grew 218% to 366 and increased 90% compared to 1Q21
- Apps revenue grew 102% to $523 million
- Business Apps revenue grew to $162 million, an increase of 70%
- Consumer Apps revenue grew to $361 million, an increase of 122%, with 2.7 million MAPs in the quarter
- GAAP Net Income improved to $14 million from a GAAP Net Loss of $22 million; a GAAP net margin of 2%
- Adjusted EBITDA grew 202% to $184 million and Adjusted EBITDA margin improved to 27%
Check Out The New Martech Cube Podcast. For more such updates, follow us on Google News Martech News
