Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is AppLovin Corporation (APP) Halal?

PASS

AppLovin Corporation · NASDAQ: APP · Technology

The short answer

Yes - AppLovin Corporation (APP) passes this Shariah stock screen at all three gates, with one prominent diverging view. AppLovin, the Palo Alto-based adtech company, earns its revenue from advertising technology (AppDiscovery, MAX mediation, Adjust measurement; FY2025 revenue $5,480.7M) - none of which involve alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance as a core activity (its former mobile games were casual/strategy titles with no casino or real-money gambling, and the entire games business was divested in June 2025). The financial ratios pass: long-term debt of $3,513.0M is about 3.43% of its ~$102.29B market cap ($281.31/share, October 2026), below the ~33% ceiling, and interest income is effectively ~0% (not separately disclosed in the filings; Zoya independently records $0), below the 5% ceiling. DIVERGING VIEW DISCLOSED PROMINENTLY: Musaffa rates AppLovin 'DOUBTFUL' (October 2026, AAOIFI methodology) - a genuine divergence from the gate math here; the cause is not verifiable from the sources available and is reported honestly, not resolved. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

AppLovin Corporation (NASDAQ: APP), headquartered in Palo Alto, California (CEO Adam Foroughi, co-founder; founded 2012; IPO 2021), is a pure-play adtech company. Per its Q4/FY2025 earnings press release (published February 11, 2026; includes full Consolidated Balance Sheets and Statements of Operations), its three pillars: AppDiscovery (powered by AXON 2.0, the machine-learning engine matching advertiser demand with publisher supply - the primary revenue driver), MAX (in-app advertising mediation/header-bidding platform aggregating inventory across mobile publishers), and Adjust (measurement and attribution suite for advertisers). On June 30, 2025, AppLovin completed the sale of its mobile gaming business to Tripledot Studios ($400M cash + ~20% of Tripledot's fully-diluted equity; ten studios divested including Machine Zone, Lion Studios, PeopleFun) - the games segment is now presented as discontinued operations (FY2025 loss from discontinued operations: $99,444K); AppLovin retains a ~20% Tripledot equity stake. Business-screen implication (factual): advertising technology - the divested games were casual/strategy mobile games (word puzzles, match-3, cooking, makeover, strategy) with no casino games or real-money gambling; advertising across third-party publishers is incidental infrastructure, not a haram segment (MAX's ad inventory mix is undisclosed - a nuance, comparable in spirit to the SPOT explicit-content precedent pattern, though milder); no alcohol, tobacco, weapons/defense, pork, adult entertainment, or conventional finance as a core activity. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per AppLovin's Q4/FY2025 earnings press release (published February 11, 2026; full Consolidated Balance Sheets; $ thousands; figures cross-verified by Zoya's data fields citing the FY2025 annual report), total debt at December 31, 2025 was: long-term debt $3,512,987K ($3,513.0M); no short-term debt line shown - all debt long-term. Against a market cap of about $102.29B ($281.31 per share, Finnhub, October 2026; sanity check: 338,313,000 shares outstanding at Dec 31, 2025 x $281.31 = about $95.17B - within ~7%, treat $102.29B as primary), debt / market cap is about 3.43% - below the ~33% ceiling. Cash and cash equivalents of $2,487.1M is about 2.43% of market cap. Total liabilities were $5,124,939K; stockholders' equity $2,134,671K. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Per AppLovin's Q4/FY2025 earnings press release (published February 11, 2026; $ thousands), NO separate interest-income line is disclosed in the income statement - interest appears only as 'Interest expense and loss on settlement of debt' ($207,016K). Zoya independently records AppLovin's FY2025 interest income as $0 on revenue of $5,480,717,000 (from its company data) - about 0% of revenue, below the 5% non-compliant income ceiling. 'Other income, net' was $8,012K FY2025 - even if all of it were interest, that is 0.15% of revenue. So interest income is effectively ~0% on the evidence available. Gate 3 passes. Facts only - no interest-income figure is asserted beyond what the filing discloses.

Key figures used

Frequently asked questions

What does AppLovin do?

AppLovin Corporation (NASDAQ: APP), headquartered in Palo Alto, California (CEO Adam Foroughi, co-founder; founded 2012; IPO 2021), is a pure-play adtech company. Per its Q4/FY2025 earnings press release (published February 11, 2026; includes full Consolidated Balance Sheets and Statements of Operations), its three pillars: AppDiscovery (powered by AXON 2.0, the machine-learning engine matching advertiser demand with publisher supply - the primary revenue driver), MAX (in-app advertising mediation/header-bidding platform aggregating inventory across mobile publishers), and Adjust (measurement and attribution suite for advertisers). On June 30, 2025, AppLovin completed the sale of its mobile gaming business to Tripledot Studios ($400M cash + ~20% of Tripledot's fully-diluted equity; ten studios divested including Machine Zone, Lion Studios, PeopleFun) - the games segment is now presented as discontinued operations (FY2025 loss from discontinued operations: $99,444K); AppLovin retains a ~20% Tripledot equity stake. Its common stock trades on the Nasdaq (ticker APP). FY2025 revenue was $5,480.7M (+70% YoY).

Why does AppLovin pass this Shariah stock screen?

AppLovin passes all three gates of this Shariah stock screen, with one prominent divergence. Gate 1 (business activity): pure-play adtech (AppDiscovery, MAX mediation, Adjust measurement) - the divested games were casual/strategy mobile games (word puzzles, match-3, cooking, makeover, strategy) with no casino games or real-money gambling; advertising across third-party publishers is incidental infrastructure, not a haram segment; no alcohol, tobacco, weapons/defense, pork, adult entertainment, or conventional finance as a core activity - a clean business. Gate 2 (debt): long-term debt of $3,513.0M is about 3.43% of its ~$102.29B market cap (October 2026), below the ~33% ceiling. Gate 3 (non-compliant income): no separate interest-income line is disclosed; Zoya independently records FY2025 interest income as $0 on revenue of $5,480,717,000 - about 0%, below the 5% ceiling. Result: PASS. DIVERGING VIEW DISCLOSED PROMINENTLY: Musaffa covers APP at musaffa.com/stock/APP/ - 'As of October 2026, Applovin Corp is classified as doubtful. DOUBTFUL' (AAOIFI methodology). This is a genuine divergence from the gate math here - the cause is not verifiable from the sources available; it is reported honestly, not resolved. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is AppLovin's interest-bearing debt ratio?

Per AppLovin's Q4/FY2025 earnings press release (published February 11, 2026; full Consolidated Balance Sheets; $ thousands; figures cross-verified by Zoya's data fields citing the FY2025 annual report), total debt at December 31, 2025 was: long-term debt $3,512,987K ($3,513.0M; no short-term debt line shown - all debt long-term). Against a market cap of about $102.29B ($281.31 per share, Finnhub, October 2026; sanity check: 338,313,000 shares outstanding at Dec 31, 2025 x $281.31 = about $95.17B - within ~7%, treat $102.29B as primary), debt / market cap is about 3.43% - below the ~33% ceiling. Cash and cash equivalents of $2,487.1M is about 2.43% of market cap. Total liabilities were $5,124,939K; stockholders' equity $2,134,671K. Gate 2 passes. Facts only.

How much interest income does AppLovin earn?

Per AppLovin's Q4/FY2025 earnings press release (published February 11, 2026; $ thousands), NO separate interest-income line is disclosed in the income statement - interest appears only as 'Interest expense and loss on settlement of debt' ($207,016K). Zoya independently records AppLovin's FY2025 interest income as $0 on revenue of $5,480,717,000 (from its company data) - about 0% of revenue, below the 5% non-compliant income ceiling. 'Other income, net' was $8,012K FY2025 - even if all of it were interest, that is 0.15% of revenue. So interest income is effectively ~0% on the evidence available. Gate 3 passes. Facts only - no interest-income figure is asserted beyond what the filing discloses.

Do Zoya, Musaffa, or ShariaPortfolio cover AppLovin?

Zoya covers AppLovin at zoya.finance/stocks/app, but its auto-generated FAQ text is garbled/contradictory (renders 'APP is Shariah-compliant and therefore considered halal to invest in' AND 'Shariah-compliant and therefore not considered halal to invest in' fragments simultaneously) - no clean Zoya rating can be quoted, and none is quoted here. Useful corroborating fact: Zoya's data fields report FY2025 revenue of $5,480,717,000 and interest income of $0 - matching the earnings-release figures exactly. Musaffa covers APP at musaffa.com/stock/APP/: 'As of October 2026, Applovin Corp is classified as doubtful. DOUBTFUL' (AAOIFI methodology) - disclosed prominently as the diverging third-party view; the cause is not verifiable from the sources available. ShariaPortfolio: no APP stock page found in web searches - honestly reported as no coverage found, not invented.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).