AppLovin Corporation (NASDAQ:APP) Q2 2023 Earnings Conference Call August 9, 2023 5:00 PM ET

Company Participants

David Hsiao - Head, Investor Relations

Adam Foroughi - Founder, CEO and Chairperson

Herald Chen - President and CFO

Conference Call Participants

Ralph Schackart - William Blair

Franco Granda - D.A. Davidson

Martin Yang - OpCo

Bernie McTernan - Needham

David Karnovsky - JPMorgan

Luke Mott - Wolfe Research

Operator

Please standby, we are about to begin.

David Hsiao

Welcome everyone to the AppLovin Earnings Call for the Second Quarter Ended June 30, 2023. I am David Hsiao, Head of Investor Relations. Joining me today to discuss our results are Adam Foroughi, our Founder, CEO and Chairperson; and Herald Chen, our President and CFO. Please note our SEC filings to-date, as well as our shareholder letter discussing our second quarter performance are available at investors.applovin.com.

During today’s call, we may be making forward-looking statements regarding our product and services, market expectations, the future financial performance of the company and other future events. These statements are based on our current assumptions and beliefs, and we assume no obligation to update them except as required by law.

Actual results may differ materially from the results predicted. We encourage you to review the risk factors in our most recently filed Form 10-Q for the fiscal quarter ended March 31, 2023 and in our Form 10-Q for the second quarter, which we expect to file later today.

We will also be discussing non-GAAP financial measures. These non-GAAP measures are not intended to be a substitute for or superior to our GAAP results. Please be sure to review the reconciliations of our GAAP to non-GAAP financial measures in our shareholder letter available on our Investor Relations site. This conference call is being recorded and a replay will be available on our IR website.

I will turn it over to Adam and Herald for some opening remarks. Then we will open up for Q&A.

Adam Foroughi

Good afternoon, everyone, and thank you for joining us today. We had a stellar second quarter, surpassing our revenue and adjusted EBITDA guidance, largely due to the expansion of our Software Platform business. I am incredibly proud of our dedicated teams who have worked tirelessly to upgrade our advertising algorithms from AXON 1 to AXON 2. We started talking to you a year ago about the benefits we achieve both short- and long-term by upgrading our technology and now we have executed on it.