AppLovin reported strong first-quarter 2025 financial results with earnings per share of $1.67 and revenue reaching $1.48 billion, representing a 40% year-over-year increase. The company’s adjusted EBITDA showed notable growth, with a 1Q25 increase of $167 million compared to the previous quarter. AppLovin’s mobile gaming business was sold to UK-based Tripledot Studios for $400 million in cash plus an approximately 20% ownership stake, a deal expected to close in the second quarter of 2025. Some sources reported the total transaction value as $800 million, reflecting Tripledot's acquisition of AppLovin’s games portfolio. The sale is anticipated to improve AppLovin’s free cash flow conversion rate from 61% in Q1 2025 to around 70% starting Q2 2025, enhancing profitability. Despite a 14% decline in apps revenue to $325 million, AppLovin’s overall performance and strategic divestiture position it for accelerated growth, with EBITDA expected to grow close to 80% in 2025. Tripledot’s CEO Lior Shiff described the acquisition as transformative, positioning Tripledot as a major global player in mobile gaming.