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# AppLovin Burned Through $2.9 Billion Of Buyback Authorization, Down To $394.3 Million, Then The Board Added $3.2 Billion
- URL: https://www.bullished.co/applovin-burned-through-2-9-billion-of-buyback-authorization-down-to-394-3-million-then-4a921ff1/
- Published: 2026-11-04T22:36:42.000Z
- Updated: 2026-11-04T22:36:42.000Z
- Description: The ad-software company retired 7.3 million shares in nine months and now has $3.6 billion available after an October board vote.
- Author: Matteo Parrino
- Tags: SEC Filings, APP, Industry: Technology

[AppLovin](https://www.bullished.co/tag/app/), which sells AI-driven advertising software, spent [$2.9 billion](https://www.sec.gov/Archives/edgar/data/0001751008/000175100826000069/app-20260930.htm?ref=bullished.co) retiring 7.3 million Class A shares in the first nine months of 2026, leaving $394.3 million of buyback authorization at September 30\. Its board then added about $3.2 billion in October, lifting the total available to $3.6 billion, according to the company's 10-Q filed Wednesday.

## A third quarter that drained the program

The [prior quarterly filing](https://www.sec.gov/Archives/edgar/data/0001751008/000175100826000059/app-20260630.htm?ref=bullished.co) showed 3.3 million shares bought for $1.5 billion through six months, with $1.8 billion still available. The September 30 balance of $394.3 million means the third quarter alone consumed roughly $1.4 billion of authorization.

In its earnings release, the company said it repurchased and withheld 4.1 million shares in the third quarter at a total cost of $1.4 billion. Management described the increase as reflecting "continued confidence in the Company's future."

Share count is shrinking: 331 million Class A and Class B shares were outstanding at quarter-end, against 338 million at year-end 2025, per the balance sheet.

## Funded from cash flow, not borrowing

Cash spent on repurchases came to $2.8 billion for the nine months, against $3.6 billion of operating cash flow. Cash paid for income taxes was $926.2 million, up from $167.3 million a year earlier. Repurchases bought but not yet paid for stood at $115.4 million at September 30, versus $18.5 million at June 30.

AppLovin ended September with $3.2 billion in cash, and its $1.0 billion revolving credit facility sits alongside long-term debt of about $3.5 billion on the balance sheet.

The business behind the cash is growing fast. Third-quarter revenue rose 55% to $2.18 billion and net income climbed 72% to $1.44 billion, the company reported. Its main product, Axon Ads Manager, generates substantially all of revenue by matching advertisers with app publishers through auctions. Other tools include MAX, Adjust and Wurl.

## No obligation to spend it

The program has no expiration date and does not commit the company to buy any set amount. It can be changed, suspended or ended at any time, the filing says.

The company guided fourth-quarter revenue of $2,365 million to $2,395 million. The 10-K for the year will show how much of the $3.6 billion was used by then.

The 10-K for the year ending December 31 will show how much of the $3.6 billion was spent.

### Sources

- [10-Q Filing — AppLovin (APP)](https://www.sec.gov/Archives/edgar/data/0001751008/000175100826000069/app-20260930.htm?ref=bullished.co) — SEC EDGAR
- [10-Q Filing — AppLovin (APP), Q2 FY2026 filed 2026-08-05 (comparison basis)](https://www.sec.gov/Archives/edgar/data/0001751008/000175100826000059/app-20260630.htm?ref=bullished.co) — SEC EDGAR
- [8-K Filing — AppLovin, filed 2026-11-04 (Items 2.02, 5.07, 9.01)](https://www.sec.gov/Archives/edgar/data/0001751008/000175100826000068/app-20261029.htm?ref=bullished.co) — SEC EDGAR
- [Earnings release (8-K Item 2.02, exhibit991-3q26earningspre.htm) — AppLovin, filed 2026-11-04](https://www.sec.gov/Archives/edgar/data/0001751008/000175100826000068/exhibit991-3q26earningspre.htm?ref=bullished.co) — SEC EDGAR
- [AppLovin Stocks Jump 8.8% While Tonight's Earnings Face a $2.08 Billion Test](https://finance.yahoo.com/markets/stocks/articles/applovin-stocks-jump-8-8-183042983.html?ref=bullished.co) — Yahoo Finance
- [AppLovin Fell 60% Even With Today’s Pop. Tomorrow We Learn if Earnings Fell With It](https://finance.yahoo.com/markets/stocks/articles/applovin-fell-60-even-today-192721624.html?ref=bullished.co) — Yahoo Finance
- [Down 69% from its high: Is this 84% margin ad-tech stock a bargain?](https://finance.yahoo.com/media-advertising/articles/down-69-high-84-margin-081407514.html?ref=bullished.co) — Yahoo Finance
- [Should AppLovin Stock Be in Your Portfolio Before Q3 Earnings?](https://finance.yahoo.com/markets/stocks/articles/applovin-stock-portfolio-q3-earnings-171600582.html?ref=bullished.co) — Yahoo Finance
- [AppLovin Corporation (APP) latest stock news and headlines – Yahoo Finance](https://au.finance.yahoo.com/quote/APP/news/?ref=bullished.co) — Yahoo Finance

### More on AppLovin

- [AppLovin CEO Foroughi Gets 128,055 Stock Units, Worth About $29.3 Million At Monday's Close](https://www.bullished.co/applovin-ceo-foroughi-gets-128-055-stock-units-worth-about-29-3-million-at-mondays-close-9880acc6/)

[All AppLovin (APP) coverage →](https://www.bullished.co/tag/app/)