AppLovin Corp (APP) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that AppLovin Corp surfaced in its latest filing.

• Apple implemented an application tracking transparency framework requiring opt-in consent for certain tracking.2021
• Apple implemented new consumer disclosure requirements.December 2020
• Apple incorporated new SDK privacy controls into iOS 17.September 2023
• Google rolled out Chrome's Tracking Protection limiting cross-site tracking.January 2024
• Google started new CMP requirements for EEA/UK ads, requiring Google-certified CMPs integrated with IAB's Transparency and Consent Framework.January 2024
• Company released MAX SDK version 12.0.0+ to support Google's CMP solution.
• Acquired Adjust.April 2021
• Acquired Twitter's MoPub business.January 2022
• Acquired Wurl.April 2022
• Sold Apps Business, resulting in no longer generating Apps revenue.June 2025
• Provided an indication of interest to the President of the United States to explore a purchase of TikTok in all markets outside of China, but ultimately did not enter into a transaction.April 2025
• Several securities complaints were filed against the company, its board of directors, and/or certain officers alleging violations of the Exchange Act concerning statements made regarding advertising solutions and financial growth.March 2025
• Following the sale of the Apps Business, the company has retained responsibility for certain legal proceedings related to former studios.June 2025
• The European Commission adopted an adequacy decision for the EU-U.S. Data Privacy Framework, and related frameworks for the UK and Switzerland subsequently became effective; the company is certified under these frameworks.July 2023
• Department of Justice final rule implementing Executive Order 14117 prohibits data transfers of certain personal data to China, Hong Kong, Macau, Cuba, Iran, North Korea, Russia, and Venezuela.April 2025
• GDPR imposed worldwide obligations on companies processing EU personal data.May 2018
• The U.S. Supreme Court's ruling in South Dakota v. Wayfair, Inc. may permit wider enforcement of sales tax collection requirements.June 2018
• The Inflation Reduction Act of 2022 imposes a 15% minimum tax on global adjusted financial statement income for certain large companies.2022
• The OECD announced a side-by-side elective safe harbor exempting electing U.S.-parented multinational entities from certain global minimum tax provisions.January 5, 2026
• The One Big Beautiful Bill Act permits deduction of certain U.S. research and development expenditures and changes calculation and deductibility of certain international income provisions.July 2025
• As of June 30, 2026, $3.6 billion aggregate principal amount of senior unsecured notes outstanding.June 30, 2026
• $1.0 billion of commitments with a $100 million letter of credit sublimit under the senior unsecured credit agreement.
• Authorizes issuance of up to 1,500,000,000 shares of Class A common stock, 150,000,000 shares of Class C common stock, and 100,000,000 shares of preferred stock.