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AppLovin vs Snap: revenue, profit, margins and growth compared

AppLovin brought in $5.5B of revenue in fiscal 2025, Snap $5.9B in fiscal 2025. Revenue changed by +70.0% at AppLovin and +10.6% at Snap on the year before, so AppLovin grew faster. AppLovin kept 60.8% of its revenue as net profit, Snap -7.8%.

Side by side, latest fiscal year

APPSNAP
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$5.5B$5.9B
Revenue growth+70.0%+10.6%
Net income$3.3B-$460.5M
Net margin60.8%-7.8%
Free cash flown/a$437.2M
Free cash flow marginn/a7.4%
Earnings per share (diluted)$9.75-$0.27
Cash$2.5B$1B
Debt$3.5B$3.5B
Price to earnings31.9n/a
Market value$104B$9.2B
Dividend yieldn/an/a
Rank by revenue in sector#84 of 530 · Technology#81 of 530 · Technology

Over the years

Revenue
APP FY2019: $994.1MAPP FY2021: $1.5BAPP FY2021: $2.8BAPP FY2022: $2.8BAPP FY2023: $1.8BAPP FY2024: $3.2BAPP FY2025: $5.5BSNAP FY2018: $1.2BSNAP FY2019: $1.7BSNAP FY2020: $2.5BSNAP FY2021: $4.1BSNAP FY2022: $4.6BSNAP FY2023: $4.6BSNAP FY2024: $5.4BSNAP FY2025: $5.9BFY18FY19FY20FY21FY22FY23FY24FY25
APP $5.5BSNAP $5.9B
Net income
APP FY2019: $119MAPP FY2021: -$125.2MAPP FY2021: $35.4MAPP FY2022: -$192.7MAPP FY2023: $356.7MAPP FY2024: $1.6BAPP FY2025: $3.3BSNAP FY2018: -$1.3BSNAP FY2019: -$1BSNAP FY2020: -$944.8MSNAP FY2021: -$488MSNAP FY2022: -$1.4BSNAP FY2023: -$1.3BSNAP FY2024: -$697.9MSNAP FY2025: -$460.5MFY18FY19FY20FY21FY22FY23FY24FY25
APP $3.3BSNAP -$460.5M
Net margin
APP FY2019: 12.0%APP FY2021: -8.6%APP FY2021: 1.3%APP FY2022: -6.8%APP FY2023: 19.4%APP FY2024: 49.0%APP FY2025: 60.8%SNAP FY2018: -106.4%SNAP FY2019: -60.3%SNAP FY2020: -37.7%SNAP FY2021: -11.9%SNAP FY2022: -31.1%SNAP FY2023: -28.7%SNAP FY2024: -13.0%SNAP FY2025: -7.8%FY18FY19FY20FY21FY22FY23FY24FY25
APP 60.8%SNAP -7.8%
Revenue growth
APP FY2021: +46.0%APP FY2021: +92.5%APP FY2022: +0.9%APP FY2023: -34.6%APP FY2024: +75.1%APP FY2025: +70.0%SNAP FY2019: +45.3%SNAP FY2020: +46.1%SNAP FY2021: +64.2%SNAP FY2022: +11.8%SNAP FY2023: +0.1%SNAP FY2024: +16.4%SNAP FY2025: +10.6%FY19FY20FY21FY22FY23FY24FY25
APP +70.0%SNAP +10.6%
Free cash flow
APP FY2019: $195.1MAPP FY2021: $219.6MAPP FY2021: $360.5MAPP FY2022: $412.1MAPP FY2023: $1.1BAPP FY2024: $2.1BSNAP FY2018: -$810.2MSNAP FY2019: -$341.4MSNAP FY2020: -$225.5MSNAP FY2021: $223MSNAP FY2022: $55.3MSNAP FY2023: $34.8MSNAP FY2024: $218.7MSNAP FY2025: $437.2MFY18FY19FY20FY21FY22FY23FY24FY25
APP $2.1BSNAP $437.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about AppLovin and Snap

Which is bigger by revenue, AppLovin or Snap?

Snap is bigger by revenue: $5.9B in fiscal 2025, against $5.5B for AppLovin in fiscal 2025.

Which keeps more of its revenue as profit, AppLovin or Snap?

AppLovin had a net margin of 60.8% in fiscal 2025; Snap had -7.8% in fiscal 2025.

Which grew revenue faster, AppLovin or Snap?

In their latest fiscal years revenue changed by +70.0% at AppLovin and +10.6% at Snap.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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