AppLovin (APP) Q2 FY26 earnings call

AppLovin's Q2 FY26 results fell slightly short of expectations due to a lighter-than-normal pace of model improvements, which landed just after quarter-end. Despite this, the consumer vertical saw record growth, and the company expects reacceleration in Q3 as model improvements are now live. Management remains confident in the long-term opportunity, focusing on core model advancements, architectural work for scaling compute, and strategic partnerships to expand its advertiser base.