AppFolio (APPF)

Nasdaq Information Technology Application Software S&P MidCap 400

$230.74

-2.48 (-1.06%)

Close of Nov 06, 2026 · end-of-day data

Source: AppFolio's 10-K / 10-Q XBRL data on SEC EDGAR · fetched Nov 06, 2026

Revenue, net income & free cash flow

Income statement

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$105.59M	$143.80M	$190.07M	$256.01M	$310.06M	$359.37M	$471.88M	$620.45M	$794.20M	$950.82M
Cost of revenue	$44.63M	$55.28M	$73.55M	$101.64M	$119.03M	$143.94M	$191.83M	$238.08M	$282.07M	$345.34M
Gross profit	$60.96M	$88.52M	$116.52M	$154.37M	$191.03M	$215.43M	$280.06M	$382.37M	$512.13M	$605.48M
Research & development	$12.64M	$16.58M	$24.11M	$39.51M	$48.53M	$65.98M	$111.12M	$151.36M	$160.38M	$190.42M
Operating income	-$8.42M	$9.34M	$19.66M	$6.46M	$9.78M	-$11.88M	-$72.37M	$963.00K	$135.64M	$152.92M
Pre-tax income	-$8.21M	$9.77M	$20.39M	$4.82M	$196.83M	$1.73M	-$66.72M	$8.00M	$150.32M	$161.11M
Income tax	$67.00K	$58.00K	$420.00K	-$31.46M	$38.43M	$706.00K	$1.40M	$5.29M	-$53.75M	$20.19M
Net income	-$8.28M	$9.72M	$19.97M	$36.28M	$158.40M	$1.03M	-$68.12M	$2.70M	$204.07M	$140.92M
EBITDA	$1.51M	$22.03M	$34.23M	$28.86M	$36.57M	$17.15M	-$41.55M	$29.95M	$155.19M	$175.57M
EPS (basic)	$-0.25	$0.29	$0.59	$1.07	$4.62	$0.03	$-1.95	$0.08	$5.63	$3.91
EPS (diluted)	$-0.25	$0.28	$0.56	$1.02	$4.44	$0.03	$-1.95	$0.07	$5.55	$3.88
Diluted shares	33.56M	35.15M	35.56M	35.57M	35.71M	35.70M	35.01M	36.42M	36.78M	36.33M
Gross margin	57.7%	61.6%	61.3%	60.3%	61.6%	59.9%	59.3%	61.6%	64.5%	63.7%
Operating margin	-8.0%	6.5%	10.3%	2.5%	3.2%	-3.3%	-15.3%	0.2%	17.1%	16.1%
Net margin	-7.8%	6.8%	10.5%	14.2%	51.1%	0.3%	-14.4%	0.4%	25.7%	14.8%

Balance sheet

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash & equivalents	$10.70M	$16.11M	$74.08M	$15.81M	$140.26M	$57.85M	$70.77M	$49.51M	$42.50M	$106.97M
Short-term investments	—	$29.80M	$16.63M	$22.88M	$28.26M	$64.60M	—	—	—	—
Receivables	$2.51M	$3.39M	$5.52M	$7.56M	$10.06M	$12.60M	$16.50M	$20.71M	$24.35M	$36.87M
Total current assets	$32.22M	$53.84M	$108.00M	$61.79M	$199.35M	$158.59M	$201.47M	$272.36M	$335.40M	$353.31M
Goodwill	$6.74M	$6.74M	$15.55M	$58.42M	$56.15M	$56.15M	$56.06M	$56.06M	$96.41M	$96.41M
Total assets	$92.58M	$110.25M	$175.74M	$260.10M	$389.48M	$408.02M	$381.22M	$408.89M	$626.68M	$688.97M
Total current liabilities	$21.36M	$23.91M	$28.21M	$47.47M	$49.80M	$52.64M	$61.34M	$69.77M	$63.28M	$106.85M
Short-term debt	—	$0	$1.21M	$1.21M	$0	—	—	—	—	—
Long-term debt	—	$0	$48.60M	$47.38M	—	—	—	—	—	—
Total debt	—	$0	$49.81M	$48.58M	$0	—	—	—	—	—
Total liabilities	$22.90M	$25.17M	$83.89M	$128.15M	$103.56M	$110.64M	$115.67M	$111.58M	$107.39M	$146.39M
Shareholders' equity	$69.68M	$85.08M	$91.85M	$131.95M	$285.92M	$297.38M	$265.55M	$297.31M	$519.29M	$542.58M

Cash flow

fiscal years · USD

Fiscal year	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Operating cash flow	$11.50M	$29.37M	$36.27M	$38.89M	$48.30M	$35.39M	$25.36M	$60.28M	$188.16M	$242.10M
Capital expenditures	$4.24M	$2.21M	$2.10M	$8.08M	$19.04M	$8.10M	$6.54M	$9.04M	$2.02M	$3.15M
Free cash flow	$7.26M	$27.16M	$34.17M	$30.80M	$29.26M	$27.29M	$18.82M	$51.24M	$186.14M	$238.95M
Investing cash flow	-$13.06M	-$22.83M	-$4.64M	-$89.87M	$146.51M	-$110.46M	-$6.47M	-$55.58M	-$151.76M	$10.24M
Financing cash flow	$201.00K	-$1.13M	$26.35M	-$7.27M	-$70.36M	-$7.35M	-$6.16M	-$25.96M	-$43.40M	-$187.89M
Share buybacks	$0	$0	$21.56M	$0	$4.19M	$0	$0	$0	$0	$145.72M
Stock-based compensation	$4.30M	$6.10M	$6.34M	$8.06M	$10.31M	$17.15M	$43.23M	$52.36M	$60.33M	$70.79M
Depreciation & amortization	$9.94M	$12.70M	$14.58M	$22.39M	$26.79M	$29.03M	$30.82M	$28.99M	$19.54M	$22.65M

Income statement

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Revenue	$171.83M	$187.43M	$197.38M	$205.73M	$203.66M	$217.70M	$235.57M	$249.35M	$248.19M	$262.21M	$281.12M	$295.69M
Cost of revenue	$61.27M	$64.65M	$69.60M	$71.63M	$76.19M	$79.50M	$83.83M	$91.48M	$90.54M	$94.97M	$102.59M	$105.58M
Gross profit	$110.56M	$122.78M	$127.77M	$134.10M	$127.47M	$138.20M	$151.75M	$157.88M	$157.65M	$167.24M	$178.53M	$190.11M
Research & development	$34.85M	$37.90M	$39.52M	$40.66M	$42.30M	$43.76M	$46.67M	$54.04M	$45.95M	$49.63M	$51.00M	$53.13M
Operating income	$28.24M	$34.09M	$36.03M	$42.57M	$22.96M	$33.78M	$40.51M	$35.05M	$43.58M	$50.75M	$52.98M	$57.41M
Pre-tax income	$30.93M	$37.08M	$39.50M	$46.58M	$27.15M	$36.79M	$41.97M	$36.73M	$45.62M	$53.10M	$54.41M	$59.61M
Income tax	$661.00K	-$1.58M	$9.84M	$13.58M	-$75.58M	$5.41M	$5.99M	$3.09M	$5.71M	$10.68M	$12.87M	$13.64M
Net income	$30.27M	$38.66M	$29.66M	$33.01M	$102.73M	$31.38M	$35.98M	$33.65M	$39.91M	$42.42M	$41.54M	$45.98M
EBITDA	$37.11M	$39.30M	$40.70M	$46.89M	$28.29M	$40.04M	$46.36M	$40.48M	$48.69M	$55.77M	$57.96M	$62.41M
EPS (basic)	$0.86	$1.07	$0.82	$0.91	$2.83	$0.86	$1.00	$0.94	$1.11	$1.19	$1.17	$1.30
EPS (diluted)	$0.85	$1.05	$0.81	$0.90	$2.79	$0.86	$0.99	$0.93	$1.10	$1.18	$1.17	$1.29
Diluted shares	850.00K	36.67M	36.74M	36.76M	30.00K	36.65M	36.20M	36.26M	-41.00K	35.81M	35.46M	35.58M
Gross margin	64.3%	65.5%	64.7%	65.2%	62.6%	63.5%	64.4%	63.3%	63.5%	63.8%	63.5%	64.3%
Operating margin	16.4%	18.2%	18.3%	20.7%	11.3%	15.5%	17.2%	14.1%	17.6%	19.4%	18.8%	19.4%
Net margin	17.6%	20.6%	15.0%	16.0%	50.4%	14.4%	15.3%	13.5%	16.1%	16.2%	14.8%	15.5%

Balance sheet

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Cash & equivalents	$49.51M	$59.21M	$59.64M	$62.42M	$42.50M	$56.93M	$73.48M	$76.09M	$106.97M	$147.41M	$217.40M	$258.54M
Receivables	$20.71M	$26.18M	$25.69M	$25.58M	$24.35M	$27.46M	$32.54M	$34.35M	$36.87M	$43.97M	$50.44M	$52.53M
Total current assets	$272.36M	$306.67M	$348.80M	$395.14M	$335.40M	$272.01M	$197.13M	$302.76M	$353.31M	$254.94M	$325.19M	$407.37M
Goodwill	$56.06M	$56.06M	$56.06M	$56.06M	$96.41M	$96.41M	$96.41M	$96.41M	$96.41M	$96.41M	$96.41M	$96.41M
Total assets	$408.89M	$438.77M	$479.32M	$523.30M	$626.68M	$564.73M	$567.40M	$640.47M	$688.97M	$580.56M	$648.37M	$715.67M
Total current liabilities	$69.77M	$56.06M	$63.35M	$63.70M	$63.28M	$58.61M	$67.59M	$100.43M	$106.85M	$72.36M	$84.88M	$101.88M
Total liabilities	$111.58M	$99.58M	$107.91M	$110.47M	$107.39M	$102.61M	$111.76M	$141.60M	$146.39M	$110.33M	$122.23M	$133.16M
Shareholders' equity	$297.31M	$339.19M	$371.41M	$412.83M	$519.29M	$462.12M	$455.65M	$498.87M	$542.58M	$470.23M	$526.14M	$582.51M

Cash flow

quarters · USD

Quarter ended	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Operating cash flow	$31.18M	$42.95M	$50.87M	$57.77M	$36.57M	$38.47M	$52.64M	$86.01M	$64.99M	$34.30M	$87.60M	$96.77M
Capital expenditures	$3.11M	$1.42M	$38.00K	$363.00K	$195.00K	$230.00K	$275.00K	$1.34M	$1.31M	$231.00K	-$3.00K	$14.00K
Free cash flow	$28.07M	$41.53M	$50.83M	$57.41M	$36.37M	$38.23M	$52.37M	$84.67M	$63.68M	$34.07M	$87.60M	$96.75M
Investing cash flow	-$33.23M	-$23.04M	-$38.03M	-$46.43M	-$44.26M	$80.79M	$23.77M	-$72.01M	-$22.30M	$138.32M	-$11.29M	-$45.31M
Financing cash flow	-$8.38M	-$10.21M	-$12.41M	-$8.57M	-$12.21M	-$104.83M	-$59.86M	-$11.38M	-$11.81M	-$132.17M	-$6.32M	-$10.32M
Share buybacks	—	$0	$0	$0	$0	$95.76M	$49.96M	$0	$0	$125.01M	$0	$4.18M
Stock-based compensation	$10.49M	$13.47M	$14.79M	$16.04M	$16.02M	$16.37M	$18.30M	$20.79M	$15.33M	$17.99M	$20.47M	$20.60M
Depreciation & amortization	$8.87M	$5.21M	$4.67M	$4.33M	$5.34M	$6.25M	$5.85M	$5.44M	$5.11M	$5.02M	$4.99M	$5.00M

Quarterly figures are rebuilt from the year-to-date totals companies report — Q4 is the full year minus the first nine months, since no 10-Q is filed for it. Values are as filed; later restatements replace earlier ones. Fiscal years are labelled by the calendar year in which they end.