I have completed the two famous theorems of Picard, presenting their proofs in a graduate course of Complex Analysis, but I have not managed to discover a good number interesting applications.
List of applications (rather straight-forward though):
If a meromorphic function on $\mathbb C$ misses three values, then it is constant.
The equation $f^3+g^3=1$ has non-trivial meromorphic in $\mathbb C$ solutions only if $n\le 3$.
If $f$ is entire and one-to-one, then it is linear.
If $f,g$ are entire and $g'=f(g)$, then $f$ is linear or $g$ is constant.
Could you provide any interesting applications of these theorem?
An interesting consequence is that if $X = \mathbf{P}^1(\mathbb C)-\{p_1, \dots, p_n\}$ is the Riemann sphere with $n$ punctures, then $\widetilde X$, the universal covering space of $X$, is the upper-half plane for $n\geq 3$. Indeed, $\widetilde X$ must be simply-connected, and by Riemann's theorem it is either $\mathbf{P^1}(\mathbb C)$, $\mathbb C$, or the upper-half plane $\mathfrak h$. It cannot be $\mathbf{P^1}(\mathbb C)$ because $X$ is not compact; it cannot be $\mathbb C$ by Picard's theorem; therefore it is $\mathfrak h$.
Corollary: For each $n \geq 3$, $\text{PSL}_2(\mathbb R)$ contains a copy of $F_n$, the free group on $n$ generators (and therefore also for $n=2$).
Indeed this follows from the theory of covering spaces; the group of deck transformation of $\widetilde X \to X$ is $\pi_1(X)\cong F_n$. On the other hand, $\text{Aut}(\mathfrak h) \cong \text{PSL}_2(\mathbb R)$.