APPFOLIO INC APPF

Technology SIC 7372 - Services-Prepackaged Software NAICS Information › Publishing Industries › Software Publishers derived Nasdaq

Unless otherwise stated in this Annual Report, references to "AppFolio," "we," "us," and "our" refer to AppFolio, Inc. and its consolidated subsidiaries.

Founded in 2006, AppFolio is a technology leader powering the future of real estate. We provide a cloud-based platform, the AppFolio Platform, on which our customers operate their businesses. Our primary customers are property management companies who manage a variety of property types, including single family, multifamily, affordable, commercial, student, and community associations. We help our customers navigate an increasingly interconnected and growing network of stakeholders in their business ecosystems, including property managers, property investors, potential residents, residents, and vendors. We also provide key functionality related to critical transactions across the real estate lifecycle, including screening potential residents, sending and receiving payments, and providing insurance-related risk mitigation services. Our services enable our customers to connect communities, increase operational efficiency, deliver exceptional customer experiences, and improve financial and operational performance. We believe our customer-centric culture leads to long-term customer retention and, ultimately, our long-term success.

Last close 210.62 2026-10-23
Market cap $7.45B estimated share count
52-week range 142.56 - 265.02

Valuation FY2025 figures against the last close

P/S7.8x
P/E54.3x
P/FCF31.2x
EV/EBITDA42.5x
Dividend yield—
Diluted EPS3.88

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $950.8M$794.2M$620.4M$471.9M$359.4M$310.1M$256.0M$190.1M$143.8M$105.6M
Cost of revenue ————$143.9M$119.0M$101.6M$73.5M$55.3M$44.6M
Gross profit ————$215.4M$191.0M$154.4M$116.5M$88.5M$61.0M
R&D $190.4M$160.4M$151.4M$111.1M$66.0M$48.5M$39.5M$24.1M$16.6M$12.6M
SG&A $95.6M$86.0M$93.5M$100.8M$57.3M$47.5M$34.5M$24.9M$21.2M$18.0M
Total operating expenses $797.9M$658.6M$619.5M$544.3M$371.2M$300.3M$249.6M$170.4M$134.5M$114.0M
Operating income $152.9M$135.6M$963.0K-$72.4M-$11.9M$9.8M$6.5M$19.7M$9.3M-$8.4M
Interest expense ——$7.0M$1.2M$501.0K$1.8M$1.7M$787.0K$535.0K$246.0K
Pre-tax income $161.1M$150.3M$8.0M-$66.7M$1.7M$196.8M$4.8M$20.4M$9.8M-$8.2M
Income tax $20.2M$53.7M$5.3M$1.4M$706.0K$38.4M$31.5M$420.0K$58.0K$67.0K
Net income $140.9M$204.1M$2.7M-$68.1M$1.0M$158.4M$36.3M$20.0M$9.7M-$8.3M
EPS, basic 3.915.630.08-1.950.034.621.070.590.29-0.25
EPS, diluted 3.885.550.07-1.950.034.441.020.560.28-0.25
Shares, diluted (wtd. avg.) 36.3M36.8M36.4M35.0M35.7M35.7M35.6M35.6M35.2M33.6M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $107.0M$42.5M$49.5M$71.0M$58.3M$140.7M$16.2M$74.5M$16.5M$11.1M
Short-term investments ————$64.6M$28.3M$22.9M$16.6M$29.8M—
Receivables $36.9M$24.3M$20.7M$16.5M$12.6M$10.1M$7.6M$5.5M$3.4M$2.5M
Total current assets $353.3M$335.4M$272.4M$201.5M$158.6M$199.4M$61.8M$108.0M$53.8M$32.2M
Property, plant and equipment $23.2M$24.5M$28.4M$26.1M$30.5M$26.4M$14.7M$6.9M$6.7M$7.1M
Goodwill $96.4M$96.4M$56.1M$56.1M$56.1M$56.1M$58.4M$15.5M$6.7M$6.7M
Other intangibles $38.8M$49.1M$2.4M$4.8M$11.7M$16.4M$21.4M$5.9M$1.7M$3.1M
Total assets $689.0M$626.7M$408.9M$381.2M$408.0M$389.5M$260.1M$175.7M$110.2M$92.6M
Accounts payable $4.1M$2.4M$1.1M$2.5M$1.7M$1.0M$1.9M$1.5M$610.0K$937.0K
Short-term debt —————$0$1.2M$1.2M$0—
Total current liabilities $106.8M$63.3M$69.8M$61.3M$52.6M$49.8M$47.5M$28.2M$23.9M$21.4M
Long-term debt ——————$47.4M$48.6M$0—
Total liabilities $146.4M$107.4M$111.6M$115.7M$110.6M$103.6M$128.2M$83.9M$25.2M$22.9M
Retained earnings $431.0M$290.0M$86.0M$83.3M$151.4M$150.4M-$8.0M-$44.3M-$64.3M-$77.0M
Total equity $542.6M$519.3M$297.3M$265.5M$297.4M$285.9M$131.9M$91.8M$85.1M$69.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $242.1M$188.2M$60.3M$25.4M$35.4M$48.3M$38.9M$36.3M$29.4M$11.5M
Depreciation and amortisation $22.7M$19.5M$29.0M$30.8M$29.0M$26.8M$22.4M$14.6M$12.7M$9.9M
Stock-based compensation $70.8M$60.3M$52.4M$43.2M$17.2M$10.3M$8.1M$6.3M$6.1M$4.3M
Capital expenditure $3.2M$2.0M$9.0M$6.5M$8.1M$19.0M$8.1M$2.1M$2.2M$4.2M
Investing cash flow $10.2M-$151.8M-$55.6M-$6.5M-$110.5M$146.5M-$89.9M-$4.6M-$22.8M-$13.1M
Financing cash flow -$187.9M-$43.4M-$26.0M-$6.2M-$7.3M-$70.4M-$7.3M$26.3M-$1.1M$201.0K
Buybacks $145.7M$0$0$0$0$4.2M$0$21.6M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001433195-26-000031.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B Revenue, FY2016: 105.6M Gross profit, FY2016: 61M Net income, FY2016: -8.3M Revenue, FY2017: 143.8M Gross profit, FY2017: 88.5M Net income, FY2017: 9.7M Revenue, FY2018: 190.1M Gross profit, FY2018: 116.5M Net income, FY2018: 20M Revenue, FY2019: 256M Gross profit, FY2019: 154.4M Net income, FY2019: 36.3M Revenue, FY2020: 310.1M Gross profit, FY2020: 191M Net income, FY2020: 158.4M Revenue, FY2021: 359.4M Gross profit, FY2021: 215.4M Net income, FY2021: 1M Revenue, FY2022: 471.9M Net income, FY2022: -68.1M Revenue, FY2023: 620.4M Net income, FY2023: 2.7M Revenue, FY2024: 794.2M Net income, FY2024: 204.1M Revenue, FY2025: 950.8M Net income, FY2025: 140.9M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $105.6M $143.8M $190.1M $256.0M $310.1M $359.4M $471.9M $620.4M $794.2M $950.8M
Gross profit $61.0M $88.5M $116.5M $154.4M $191.0M $215.4M — — — —
Net income -$8.3M $9.7M $20.0M $36.3M $158.4M $1.0M -$68.1M $2.7M $204.1M $140.9M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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