AppLovin — Feb 12, 2025 release

First Quarter 2025 Financial Guidance Summary 3 (In millions, except percentages) 1Q25 Low High Advertising Revenue $1,030 $1,050 Apps Revenue 325 335 Total Revenue 1,355 1,385 Advertising Adjusted EBITDA 805 825 Apps Adjusted EBITDA 50 60 Total Adjusted EBITDA $855 $885 Total Adjusted EBITDA Margin 63% 64% 1 Our core advertising business now represents substantially all of the revenue in this segment and our future focus for the company. As a result, we have renamed our "Software Platform" segment to "Advertising" to better align with the nature of this business. 2 Includes repurchased shares as well as withholdings upon net share settlement of vested equity awards. Total cost includes repurchase costs, including commissions and fees, as well as cash paid in connection with tax withholding and remittance obligations upon net share settlement 3 We have not provided the forward-looking GAAP equivalents for forward-looking non-GAAP metrics, specifically Adjusted EBITDA and Adjusted EBITDA margin, or a GAAP reconciliation as a result of the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense. Accordingly, a reconciliation of these non-GAAP guidance metrics to their corresponding GAAP equivalents is not available without unreasonable effort. However, it is important to note that material changes to reconciling items could have a significant effect on future GAAP results. We have provided historical reconciliations of GAA