AppLovin Q3 growth and unresolved legal and data-governance scrutiny

AppLovin reported record Q3 revenue, strong margins, buybacks, and above-consensus Q4 guidance; a report adds revenue and net revenue per install growth of 55%, with installs up 2% and mostly retail advertiser growth. Investor coverage offers no playable or campaign-level evidence, and attributed retail purchases do not prove incrementality. Legal allegations remain unproven and the Ad Quality SDK data-collection allegation remains disputed; the 2026 Performance Index provides no playable-specific results.