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AppLovin Corporation

Q2 FY26Software

AppLovin Corporation Q2 FY26 Results — Earnings Call Analysis

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹600

Market cap₹2.0L Cr

P/E44.6

Updated29 May 2026

Read4 min read

What the Q2 FY26 call signalled

2 of 3 strong

RevenueStrong growth

MarginMargins steady

CapexCapex planned

The short version

- The business is growing rapidly with no need to rely on new opportunities this year; focus is on long-term exceptional growth and profitability expansion (Page 18). - AppLovin expects continued fast growth, with Q2 2026 revenue guidance of $1.915-$1.945 billion, representing 52%-55% year-over-year growth.

From AppLovin Corporation's Q2 FY26 earnings-call transcript · updated 29 May 2026.

Revenue & Sales Performance

Strong growth

The business is growing rapidly with no need to rely on new opportunities this year; focus is on long-term exceptional growth and profitability expansion (Page 18).
Strong revenue growth: Q1 revenue was $1.84 billion, up 59% year-over-year; Q2 2026 revenue guidance is $1.915-$1.945 billion, a 52%-55% YoY increase (Page 3).
Consumer vertical is scaling faster than gaming, early in development but showing accelerating advertiser spend and model improvements (Pages 2, 11, 17).
Gaming vertical expected to grow 20%-30% long-term with no signs of slowdown or cannibalization from consumer vertical (Pages 5, 11, 17).

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Profitability & Margins

AppLovin expects continued fast growth, with Q2 2026 revenue guidance of $1.915-$1.945 billion, representing 52%-55% year-over-year growth.
Adjusted EBITDA for Q2 2026 is expected between $1.615-$1.645 billion with margins around 84%-85%, reflecting operating leverage and margin expansion.
The company anticipates strong long-term growth, especially in the gaming vertical with a 20%-30% growth target sustained.
Consumer vertical is scaling rapidly and is expected to compound growth significantly after platform opens to all advertisers in June 2026.
Operating leverage and faster model improvements should drive profitability expansion.

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Capital Expenditure Plans

Capex planned

The company is investing in GPU capacity to support the growing complexity of models and increasing customer base, working with Google Cloud and potentially other clouds to scale infrastructure as needed (Page 5).
They are focusing on organic investments to improve product and technology, including new product rollouts such as connected TV advertising and lead generation models, which are expected to drive future growth but have no material financial impact in 2026 yet (Pages 8, 14, 18).
Capital allocation priorities for 2026 remain on funding organic investment and returning capital to shareholders through share repurchases (Page 3).

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Fundraising & Capital Structure

There is no mention of any current or planned new fundraising through debt or equity in the provided text.
The company ended the quarter with $2.76 billion in cash and cash equivalents, indicating strong liquidity.
They repurchased and withheld 2.23 million shares for $1 billion, with $2.3 billion remaining under the share repurchase authorization.

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Order Book & Pipeline

The provided pages of the document "6021125-28602.pdf" do not mention any information regarding current or expected orderbook or pending orders. The transcript primarily discusses: - Company financial performance (Q1 revenue and adjusted EBITDA) - Growth strategies in gaming and consumer verticals - Product development and model improvements - Advertising platform capabilities and inventory expansion

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TeraWulf Inc. (Q2 FY26)
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Frequently Asked Questions

What were AppLovin Corporation Q2 FY26 results?

- The business is growing rapidly with no need to rely on new opportunities this year; focus is on long-term exceptional growth and profitability expansion (Page 18). - AppLovin expects continued fast growth, with Q2 2026 revenue guidance of $1.915-$1.945 billion, representing 52%-55% year-over-year growth.

What is AppLovin Corporation share price analysis?

AppLovin Corporation currently shows a strong growth signal based on ranking data. The stock trades at a P/E of 44.6 with a market cap of $201,527. Investors should review the full earnings analysis for detailed insights.

Is AppLovin Corporation planning capital expenditure?

- The company is investing in GPU capacity to support the growing complexity of models and increasing customer base, working with Google Cloud and potentially other clouds to scale infrastructure as needed (Page 5).

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.