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Revenue up 132% year over year to $604 million; Initiates full year 2021 Revenue and Adjusted EBITDA guidance of between $2.65 and $2.70 billion and between $680 and $700 million, respectively

AppLovin Corporation (NASDAQ: APP) ("AppLovin" or "we"), a leading marketing software company, today announced financial results for the first quarter ended March 31, 2021 and posted a letter to its shareholders on its investor relations website.

"We are excited to deliver record revenue in our first earnings report as a newly public company. Our record growth 1Q21 results are driven by the powerful combination of our integrated business model, incorporating software, content and data. Additionally, in April 2021 we closed on the previously announced acquisition of app measurement leader Adjust as well as completed the acquisitions of two more top grossing games: West Game and Cash Tornado Slots," said Adam Foroughi, CEO and co-founder of AppLovin. "As we continue to grow our content portfolio, gain access to data, and improve the efficacy of our marketing software, we see a path to outsized growth for years to come."

First Quarter 2021 Financial Summary

We achieved our highest revenue and Adjusted EBITDA growth quarter in total and across all parts of our business. All comparisons are versus Q1 2020.

• Total revenue was $603.9 million, an increase of 132%. Organic revenue growth was 89%.
• Net loss was $10.6 million compared to net income of $4.7 million in 1Q20.
• Adjusted EBITDA totaled $131 million, an increase of 110%.

Fiscal 2021 Outlook

• Total Revenue of $2.65 - $2.70 billion, representing approximately +83% growth.
• Total Adjusted EBITDA of $680-$700 million, representing approximately +100% growth.

AppLovin Corp. $(APP)$ shares shifted between gains and losses in the extended session Wednesday following the marketing software company's first quarterly results as a public company.