Every material Form 8-K AppFolio has filed with the SEC since January 30, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
AppFolio reported third-quarter 2026 results for the period ended September 30, 2026, with revenue of $296 million, up 19% year over year, and net income of $46 million, or $1.29 per diluted share, compared with $34 million, or $0.93, a year earlier. The company raised its full-year 2026 revenue range to $1.122 billion to $1.127 billion, which gives shareholders a higher revenue outlook while profit measures improved.
Q3 2026 revenue was $296 million, up 19% year over year from $249 million.
GAAP operating income rose 64% to $57 million; non-GAAP operating income rose 38% to $81 million.
Full-year 2026 revenue range raised to $1.122 billion to $1.127 billion; non-GAAP operating margin range is 26.5% to 27.5%.
Management and the company's CEO, Shane Trigg, said the results reflect new and existing customers adopting its platform.
AppFolio reported second-quarter 2026 revenue of $281 million, up 19% from a year earlier, and GAAP net income of $41.5 million, or $1.17 per diluted share, compared with $0.99 a year earlier. The company raised its fiscal 2026 revenue range to $1.117 billion to $1.127 billion and its non-GAAP operating margin range to 26.5% to 28.0%, which is a positive signal for shareholders.
Q2 2026 revenue rose 19% year-over-year to $281 million; GAAP operating income rose 31% to $53 million
GAAP diluted earnings per share were $1.17, compared with $0.99 in Q2 2025
Full-year 2026 revenue outlook increased to $1.117 billion to $1.127 billion
Full-year 2026 non-GAAP operating margin outlook increased to 26.5% to 28.0% of revenue
AppFolio announced that long-time chairman Andreas von Blottnitz and director Janet Kerr retired from the board effective June 29, 2026, and that two new independent directors, Diya Jolly and Michael Yang, were elected to fill the vacancies. The board also named CEO Shane Trigg as chairman, created a Lead Independent Director role held by Winifred Webb, and revised non-employee director pay. The filing does not discuss financial results, and the changes are governance updates rather than a financial event.
Andreas von Blottnitz (director since 2007) and Janet Kerr (director since 2015) retired effective June 29, 2026; the company says neither retirement involved a disagreement.
Shane Trigg, President and CEO, was appointed Chairman of the Board, succeeding Mr. von Blottnitz; he receives no separate pay for the role.
Winifred Webb was appointed Lead Independent Director; the annual cash retainer for that role is $40,000.
Non-employee director annual equity award rises to $200,000 from $150,000; Committee Chair retainer falls to $40,000 from $50,000.
AppFolio reported first-quarter 2026 revenue of $262 million, up 20% from a year earlier, and GAAP net income of $42.4 million, or $1.18 per diluted share, compared with $31.4 million, or $0.86, in the prior-year quarter. The company raised its full-year 2026 revenue range to $1.110 to $1.125 billion and its non-GAAP operating margin range to 26.0% to 28.0%, while operating cash flow fell to $34 million from $38 million.
Q1 2026 revenue was $262 million, up 20% year-over-year; GAAP operating income was $51 million, up 50%.
Non-GAAP operating income was $72 million, or 27.3% of revenue, versus $53 million, or 24.3%, in Q1 2025.
Full-year 2026 revenue range raised to $1.110 to $1.125 billion; non-GAAP operating margin range raised to 26.0% to 28.0%.
Company repurchased 703 thousand Class A shares for $125 million in the quarter.
AppFolio entered a Second Amended and Restated Employment Agreement with CEO Shane Trigg on April 9, 2026, replacing his March 1, 2023 agreement. The deal sets a base salary of at least $570,000, a 100% of salary target bonus, and annual equity awards for fiscal 2026 through 2030, with enhanced severance terms including a 24-month salary continuation if terminated in connection with a corporate transaction.
Base salary of at least $570,000 and bonus target of 100% of base salary
Fiscal 2026 one-time awards: $5,000,000 RSU grant value and $4,479,000 PSU grant value at target
Fiscal 2027 through 2030: annual RSU grant value of $5,000,000 plus a formula-based PSU award
Corporate transaction termination: 24 months of salary continuation and 200% of annual bonus
AppFolio reported fourth-quarter 2025 revenue of $248 million, up 22% from a year earlier, and GAAP operating income of $44 million, up from $23 million. Q4 net income fell to $40 million from $103 million, because the prior-year quarter included a large income tax benefit. The company also gave its first fiscal 2026 outlook, calling for revenue of $1.1 billion to $1.12 billion.
Q4 2025 revenue rose 22% year over year to $248 million; fiscal 2025 revenue rose 20% to $951 million.
Q4 2025 GAAP diluted EPS was $1.10, versus $2.79 a year earlier; fiscal 2025 GAAP diluted EPS was $3.88, versus $5.55.
Fiscal 2026 outlook: revenue of $1.1 billion to $1.12 billion, non-GAAP operating margin of 25.5% to 27.5%, and 36 million to 37 million diluted shares.
AppFolio's board cut its size from nine to seven directors and elected Saori Casey as a Class II director, effective February 12, 2026, to fill an existing vacancy. Casey is currently CFO of Sonos, Inc., and the board deemed her independent under Nasdaq and SEC rules.
Board reduced from nine to seven directors; Casey fills the existing vacancy
Casey's election is effective February 12, 2026, and she serves until the 2026 Annual Meeting
Casey will receive the same non-employee director compensation and equity awards as other directors
Casey has been CFO of Sonos, Inc. since January 2024 and previously held finance roles at Apple and Cisco
AppFolio disclosed a separation agreement with Matt Mazza, its former Chief Trust Officer, who departed on November 14, 2025. The agreement provides severance and related benefits conditioned on a release of claims and continued compliance with restrictive covenants.
Mazza receives $315,000, equal to nine months of base salary, paid through regular biweekly payroll
A pro-rated fiscal 2025 bonus of $219,462 is payable in a lump sum
Company will pay or reimburse COBRA premiums for up to nine months, and Executive Medical Reimbursement coverage continues through March 31, 2026 (up to $100,000 in eligible expenses)
AppFolio reported third-quarter 2025 revenue of $249 million, up 21% year over year, and diluted EPS of $0.93 versus $0.90 a year earlier. GAAP operating income fell to $35 million from $43 million, and the company reaffirmed a full-year 2025 revenue outlook of $945 million to $950 million. Separately, Chief Trust Officer Matt Mazza will leave the company on November 14, 2025.
Q3 revenue grew 21% year over year to $249 million; total units under management grew 7% to 9.1 million
GAAP operating income was $35 million (14.1% of revenue) versus $43 million (20.7%) in Q3 2024; non-GAAP operating margin was 23.5% versus 28.7%
Diluted EPS was $0.93 versus $0.90 in Q3 2024; net income was $33.6 million
FY2025 outlook: revenue of $945 million to $950 million and non-GAAP operating margin of 23.5% to 24.5%
AppFolio signed a credit agreement on September 30, 2025 with PNC Bank as administrative agent, providing a $150.0 million senior secured revolving credit facility. The company had no outstanding borrowings under the facility as of September 30, 2025, and the facility matures on September 30, 2030.
Facility size: $150.0 million senior secured revolver, with a $25.0 million letters of credit sublimit and a $25 million swingline sublimit
Maturity date: September 30, 2030; no borrowings outstanding as of September 30, 2025
Interest set at Term SOFR, Daily Simple SOFR or Base Rate plus margins tied to the net leverage ratio; financial covenant caps net leverage at 3.75:1.00 (4.25:1.00 during an Acquisition Step-Up Period)
On August 7, 2025, directors Timothy Bliss, Alex Wolf, and Robert Donald Casey III resigned from AppFolio's board. The company says the resignations are meant to avoid a potential conflict of interest tied to a separate business opportunity the three are pursuing together, and that none stems from a disagreement with the company over its operations, policies or practices.
Three directors resigned on August 7, 2025: Timothy Bliss, Alex Wolf, and Robert Donald Casey III.
The filing says the resignations avoid a potential conflict with a business opportunity in which the three will be significant shareholders in a company that is an AppFolio customer.
The company states no resignation was due to a disagreement over its operations, policies or practices.
The 8-K was signed by General Counsel and Corporate Secretary Evan Pickering.
AppFolio reported second-quarter 2025 revenue of $236 million, up 19% from a year earlier, and GAAP net income of $36 million, up from $30 million. GAAP operating margin slipped to 17.2% from 18.3%. The company also gave a full-year 2025 revenue outlook of $935 million to $945 million and named Tim Eaton Chief Financial Officer effective July 30, 2025.
Q2 2025 revenue was $235.6 million, up from $197.4 million in Q2 2024
GAAP diluted EPS was $0.99 versus $0.81 a year earlier; GAAP operating margin was 17.2% versus 18.3%
Full-year 2025 revenue is expected at $935 million to $945 million; non-GAAP operating margin at 24.5% to 26.5%
Tim Eaton was appointed CFO effective July 30, 2025, after serving as interim CFO since October 2024
AppFolio reported first-quarter 2025 revenue of $218 million, up 16% from a year earlier, while GAAP net income fell to $31 million and GAAP diluted earnings per share fell to $0.86 from $1.05. The board also authorized a new $300.0 million share repurchase program on April 23, 2025, which replaces a $100 million program that has been substantially exhausted.
Q1 2025 revenue was $217.7 million, up from $187.4 million in Q1 2024.
GAAP net income was $31.4 million, down from $38.7 million; GAAP diluted EPS was $0.86 versus $1.05.
Non-GAAP operating income was $53 million, or 24.3% of revenue, versus $48 million, or 25.7%, a year earlier.
The new $300.0 million repurchase program has no expiration date and no minimum purchase requirement.
On April 3, 2025, AppFolio's board increased its size from eight to nine directors and elected Robert Donald Casey III as a Class II director. The board determined he is independent under Nasdaq rules, and he will receive the same non-employee director compensation as other directors.
Board expanded from eight to nine directors; Casey filled the new seat effective April 3, 2025
Casey will serve until the 2026 Annual Meeting of Shareholders
Casey is founder and CEO of Santa Barbara Management and a Partner at Partners Fund Capital; former President and CFO of Tegus, Inc.
Casey receives standard non-employee director pay and equity awards and will sign the Company's standard indemnification agreement
AppFolio reported fourth-quarter revenue of $204 million, up 19% year over year, and full-year 2024 revenue of $794 million, up 28%. Full-year GAAP operating income rose to $136 million from $1 million, while fourth-quarter GAAP operating income fell to $23 million from $28 million. The company also gave 2025 guidance of $920 million to $940 million in revenue, and its interim CFO Tim Eaton was named interim Principal Accounting Officer.
Q4 2024 revenue $204 million, up 19% year over year; Q4 GAAP operating income $23 million vs. $28 million in Q4 2023
FY 2024 revenue $794 million, up 28%; FY 2024 GAAP operating income $136 million vs. $1 million in 2023
2025 outlook: revenue of $920 million to $940 million; non-GAAP operating margin of 24.5% to 26.5%
On January 29, 2025, Tim Eaton was appointed interim Principal Accounting Officer while remaining interim CFO
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