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AppLovin Soars to $243B Market Cap, Guides Q3 Revenue

AppLovin's stock has been on fire in 2025. Now, it's opening a new ad platform and guiding for another record quarter.

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AppLovin Soars to $243B Market Cap, Guides Q3 Revenue

AppLovin, the ad-technology company, has seen remarkable growth in 2025. Its shares have soared to record highs, joining the S&P 500, and its market value has reached around $243 billion with a forward P/E ratio of about 40.

The company's success is reflected in its financials. In the second quarter, AppLovin's revenue jumped 77% year over year to $1.26 billion. Its adjusted EBITDA nearly doubled to $1.02 billion, resulting in an impressive 81% margin. Looking ahead, AppLovin guided for third-quarter revenue of $1.32 billion to $1.34 billion and targeted another 81% adjusted EBITDA margin.

AppLovin's business is thriving, and it's preparing to launch a new self-serve channel. On October 1, it will open Axon Ads Manager, a self-serve pathway for non-gaming and smaller advertisers, on a referral basis. This move is part of the company's strategic shift towards the AI-driven AdTech market in global e-commerce advertising. The Axon Ads Manager platform is set to be released on the same day.

Earlier this year, AppLovin closed the sale of its first-party Apps business to Tripledot Studios for $400 million in cash plus equity. This deal allows AppLovin to focus on its core ad-tech business.

AppLovin's impressive performance has made it one of 2025's standout stock market winners. Despite its strong business and high market value, some analysts suggest a 'hold' stance due to shares being priced for perfection. As AppLovin continues to innovate and expand, investors will closely watch its progress in the competitive ad-tech market.

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