PRESS RELEASE, DATED AUGUST 5, 2026 Document Exhibit 99.1 AppLovin Announces Second Quarter 2026 Financial Results PALO ALTO – August 5, 2026 – AppLovin Corporation (NASDAQ: APP) (“AppLovin”), a leading marketing platform, today announced financial results for the quarter ended June 30, 2026 and posted a financial update on its Investor Relations website located at https://investors.applovin.com . Second Quarter 2026 Financial Highlights: Quarter Ended June 30, Six Months Ended June 30, (In millions, except percentages) 2026 2025 % Change 2026 2025 % Change Revenue $1,924 $1,259 53 % $3,766 $2,418 56 % Net Income $1,267 $820 55 % $2,472 $1,396 77 % Net Income from Continuing Operations $1,267 $772 64 % $2,472 $1,495 65 % Adjusted EBITDA $1,614 $1,018 58 % $3,171 $1,956 62 % Additional Financial Highlights: ● Net cash from operating activities was $869.0 million and Free Cash Flow was $863.3 million for the second quarter 2026. ● Basic and Diluted earnings per share ("EPS") were $3.77 and $3.76, respectively, for the second quarter 2026. ● During the second quarter 2026, we repurchased and withheld 1.1 million shares of our Class A common stock, for a total cost of $551.3 million 1 . At the end of 2Q 2026, we had 335 million shares of our Class A and Class B common stock outstanding. Third Quarter 2026 Financial Guidance Summary 2 3Q26 (In millions, except percentages) Low High Revenue $2,055 $2,085 Adjusted EBITDA 1,710 1,740 Adjusted EBITDA Margin 83 % 83 % 1 Includes repurchased shares as well as withholdings upon net share settlement of vested equity awards. Total cost includes repurchase costs, including commissions, taxes, and fees, as well as cash paid in connection with tax withholding and remittance obligations upon net share settlement. 2 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 GAAP to non-GAAP metrics in tables at the end of this press release. 1 Webcast and Conference Call AppLovin will host a webinar today at 2:00 PM PT / 5:00 PM ET, during which management will discuss the Company’s second quarter 2026 results and provide commentary on its business performance. A question-and-answer session will follow the prepared remarks. The webinar may be accessed on the Company’s investor relations website or via webinar registration . A replay of the webinar will also be available under the Events & Presentations section of our Investor Relations website. About AppLovin AppLovin makes technologies that help businesses of every size connect to their ideal customers. The company provides end-to-end advertising solutions for businesses to reach, monetize and grow their global audiences. For more information about AppLovin, visit: www.applovin.com. Contacts Investors David Hsiao ir@applovin.com Press Emelyne Interior press@applovin.com Source: AppLovin Corp. Forward Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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,” “going to,” “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, priorities, plans, or intentions. Forward-looking statements in this press release include our expected financial results and guidance. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties, including changes in our plans or assumptions, which could cause actual results to differ materially from those projected. These risks include our inability to forecast our business effectively, the macroeconomic environment, fluctuations in our results of operations, our ability to execute on our operational and financial priorities, our ability to scale our business to support new customers, the competitive advertising ecosystem, and our inability to adapt to emerging technologies and business models. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in our Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2026. Additional information will also be set forth in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2026. The forward-looking statements in this press release are based on information available to us as of the date hereof, and we disclaim any obligation to update any forward-looking statements, except as required by law. 2 Non-GAAP Financial Measures To supplement our financial information presented in accordance with generally accepted accounting principles in the United States (“GAAP”), this press release includes certain financial measures that are not prepared in accordance with GAAP, including Adjusted EBITDA, Adjusted EBITDA margin, and Free Cash Flow. A reconciliation of each such non-GAAP financial measure to the most directly comparable GAAP measure can be found below. We define Adjusted EBITDA for a particular period as net income adjusted for loss (income) from discontinued operations, net of income taxes, interest expense, other (income) expense, net (excluding certain recurring items), provision for income taxes, amortization, depreciation and write-offs and as further adjusted for non-operating foreign exchange gain, stock-based compensation, transaction-related expense, restructuring costs (benefits), as well as certain other items that we believe are not reflective of our core operating performance. We define Adjusted EBITDA margin as Adjusted EBITDA divided by revenue for the same period. We define Free Cash Flow as net cash provided by operating activities less purchases of property and equipment and principal payments on finance leases. We subtract both purchases of property and equipment and payment of finance leases in our calculation of Free Cash Flow because we believe these items represent our ongoing requirements for property and equipment to support our business, regardless of whether we utilize a finance lease to obtain such property or equipment. We believe that the presentation of these non-GAAP financial measures provides useful information to investors regarding our results of operations and operating performance, as they are similar to measures reported by our public competitors and are regularly used by securities analysts, institutional investors, and other interested parties in analyzing operating performance and prospects. Adjusted EBITDA and Adjusted EBITDA margin are key measures we use to assess our financial performance and are also used for internal planning and forecasting purposes. We believe Adjusted EBITDA and Adjusted EBITDA margin are helpful to investors, analysts, and other interested parties because they can assist in providing a more consistent and comparable overview of our operations across our historical financial periods. We use Adjusted EBITDA and Adjusted EBITDA margin in conjunction with GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance. We use Free Cash Flow in addition to GAAP measures to help manage our business and prepare budgets and annual planning, and we believe Free Cash Flow provides useful supplemental information to help investors understand underlying trends in our business and our liquidity. These measures have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Free Cash Flow reflects cash flows from both of continuing and discontinued operations. Our definitions may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Thus, our non-GAAP financial measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP. 3 AppLovin Corporation Consolidated Balance Sheets (In thousands, except per share data) (Unaudited) June 30, 2026 December 31, 2025 Assets Current assets: Cash and cash equivalents $ 3,053,306 $ 2,487,096 Accounts receivable, net 2,171,017 1,819,366 Prepaid expenses and other current assets 167,993 124,330 Total current assets 5,392,316 4,430,792 Property and equipment, net 111,948 122,445 Goodwill 1,518,587 1,539,986 Intangible assets, net 355,661 396,714 Equity method investments 289,959 287,666 Other non-current assets 600,660 482,007 Total assets $ 8,269,131 $ 7,259,610 Liabilities and Stockholders’ Equity Current liabilities: Accounts payable $ 778,942 $ 746,977 Accrued and other current liabilities 475,016 586,811 Total current liabilities 1,253,958 1,333,788 Long-term debt 3,515,072 3,512,987 Other non-current liabilities 337,085 278,164 Total liabilities 5,106,115 5,124,939 Stockholders’ equity: Preferred Stock, $0.00003 par value—100,000 shares authorized, no shares issued and outstanding as of June 30, 2026 and December 31, 2025 — — Class A, Class B, and Class C Common Stock, $0.00003 par value—1,850,000 (Class A 1,500,000, Class B 200,000, Class C 150,000) shares authorized, 335,291 (Class A 305,084, Class B 30,208, Class C nil) and 338,313 (Class A 307,955, Class B 30,358, Class C nil) shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 11 11 Additional paid-in capital 575,057 446,550 Accumulated other comprehensive loss (73,805) (46,987) Retained earnings 2,661,753 1,735,097 Total stockholders’ equity 3,163,016 2,134,671 Total liabilities and stockholders’ equity $ 8,269,131 $ 7,259,610 4 AppLovin Corporation Consolidated Statements of Operations (In thousands, except per share data) (Unaudited) Quarter Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenue $ 1,923,686 $ 1,258,754 $ 3,766,135 $ 2,417,728 Costs and expenses: Cost of revenue 225,801 155,076 429,433 306,756 Sales and marketing 63,394 46,917 124,145 106,300 Research and development 99,901 44,032 194,005 100,438 General and administrative 40,313 55,047 84,342 106,570 Total costs and expenses 429,409 301,072 831,925 620,064 Income from operations 1,494,277 957,682 2,934,210 1,797,664 Other income (expense): Interest expense (51,156) (51,409) (102,315) (104,297) Other income (expense), net 62,405 (22,269) 105,039 (14,757) Total other income (expense), net 11,249 (73,678) 2,724 (119,054) Income before income taxes 1,505,526 884,004 2,936,934 1,678,610 Provision for income taxes 238,988 112,148 464,783 183,216 Net income from continuing operations 1,266,538 771,856 2,472,151 1,495,394 Income (loss) from discontinued operations, net of income taxes — 47,675 — (99,444) Net income 1,266,538 819,531 2,472,151 1,395,950 Net income (loss) per share attributed to Class A and Class B common stockholders - Basic: Continuing operations $ 3.77 $ 2.28 $ 7.34 $ 4.41 Discontinued operations — 0.14 — (0.30) Basic net income per share $ 3.77 $ 2.42 $ 7.34 $ 4.11 Net income (loss) per share attributed to Class A and Class B common stockholders - Diluted: Continuing operations $ 3.76 $ 2.26 $ 7.32 $ 4.35 Discontinued operations — 0.13 — (0.29) Diluted net income per share $ 3.76 $ 2.39 $ 7.32 $ 4.06 Weighted-average common shares used to compute net income (loss) per share attributable to Class A and Class B common stockholders: Basic 335,800 338,617 336,595 339,224 Diluted 337,031 342,194 337,875 343,529 5 AppLovin Corporation Consolidated Statements of Cash Flows (In thousands) (Unaudited) Six Months Ended June 30, 2026 2025 Operating Activities Net income $ 2,472,151 $ 1,395,950 Adjustments to reconcile net income to net cash provided by operating activities: Amortization, depreciation and write-offs 66,228 126,940 Goodwill impairment — 188,943 Stock-based compensation, excluding cash-settled awards 168,981 97,026 Gain on divestiture, net of transaction costs — (106,229) Other (42,130) 41,617 Changes in operating assets and liabilities: Accounts receivable (352,557) (291,551) Prepaid expenses and other assets (56,890) 20,691 Accounts payable 29,617 39,040 Accrued and other liabilities (124,967) 91,511 Net cash provided by operating activities 2,160,433 1,603,938 Investing Activities Proceeds from divestiture, net of cash divested — 424,702 Purchase of non-marketable equity securities — (18,678) Other investing activities (7,688) (27,140) Net cash provided by (used in) investing activities (7,688) 378,884 Financing Activities Repurchases of common stock (1,532,952) (1,272,429) Payment of withholding taxes related to net share settlement (46,451) (256,650) Principal repayments of debt — (200,000) Payments of licensed asset obligation — (13,532) Proceeds from issuance of debt — 200,000 Other financing activities (3,248) 3,017 Net cash used in financing activities (1,582,651) (1,539,594) Effect of foreign exchange rate on cash and cash equivalents (3,884) 7,969 Net increase in cash and cash equivalents, including cash from discontinued operations 566,210 451,197 Less: net decrease in cash from discontinued operations — (44,381) Net increase in cash and cash equivalents 566,210 495,578 Cash and cash equivalents at beginning of the period 2,487,096 697,030 Cash and cash equivalents at end of the period $ 3,053,306 $ 1,192,608 Supplemental disclosure of cash flow information: Cash paid for interest $ 99,653 $ 99,553 Cash paid for income taxes, net of refunds $ 639,820 $ 100,621 6 AppLovin Corporation Reconciliation of Net Cash Provided By Operating Activities to Free Cash Flow (In thousands) The following table provides a reconciliation of net cash provided by operating activities to Free Cash Flow for the periods presented: Quarter Ended June 30, 2026 2025 Net cash provided by operating activities 869,040 772,226 Less: Purchase of property and equipment (1,427) (42) Principal payments of finance leases (4,296) (4,121) Free Cash Flow $ 863,317 $ 768,063 Net cash provided by (used in) investing activities $ (2,441) $ 401,548 Net cash used in financing activities $ (570,419) $ (537,377) 7 AppLovin Corporation Reconciliation of Net Income to Adjusted EBITDA (In thousands, except percentages) The following table provides our Adjusted EBITDA and Adjusted EBITDA Margin and a reconciliation of Net Income to Adjusted EBITDA for the periods presented: Quarter Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Revenue $ 1,923,686 $ 1,258,754 $ 3,766,135 $ 2,417,728 Net income 1,266,538 819,531 2,472,151 1,395,950 Net margin 66% 65% 66% 58% Loss (income) from discontinued operations, net of income taxes — (47,675) — 99,444 Net income from continuing operations 1,266,538 771,856 2,472,151 1,495,394 Net margin from continuing operations 66% 61% 66% 62% Adjusted as follows: Interest expense 51,156 51,409 102,315 104,297 Other (income) expense, net (59,863) 12,798 (101,223) 4,154 Provision for income taxes 238,988 112,148 464,783 183,216 Amortization, depreciation and write-offs 32,563 31,064 66,228 63,010 Non-operating foreign exchange gain (2,364) (1,210) (3,630) (1,530) Stock-based compensation 85,783 34,552 169,252 93,667 Transaction-related expense 59 5,097 10 9,680 Restructuring costs 963 633 856 4,231 Adjusted EBITDA $ 1,613,823 $ 1,018,347 $ 1,018,347 $ 3,170,742 $ 1,956,119 Adjusted EBITDA margin 84% 81% 84% 81% 8

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other guidance in this release

Text is the filed exhibit, verbatim.