Company: APPF
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001433195-25-000105
Chunk: 24

Company: APPFOLIO INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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2025 and 2024, we had sales and maturities of investment securities, as follows (in thousands):Six Months Ended June 30, 2025Gross Realized GainsGross Realized LossesGross Proceeds from Sales Gross Proceeds from MaturitiesU.S. government and agency securities$94 $(49)$202,662 $43,820 Total$94 $(49)$202,662 $43,820 Six Months Ended June 30, 2024Gross Realized GainsGross Realized LossesGross Proceeds from SalesGross Proceeds from MaturitiesU.S. government and agency securities— — — 94,455 Total$— $— $— $94,455 The tables above do not include our strategic investments of non-marketable equity investments in privately-held companies, which are recorded in long-term investments in our Condensed Consolidated Balance Sheets. These strategic investments consist of the following as of June 30, 2025 and December 31, 2024 (in thousands):

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June 30,2025December 31,2024Second Nature$75,000 $— Others2,033 2,033     Total long-term investments$77,033 $2,033 In April 2025, we purchased a minority, non-controlling equity interest in Second Nature Holdings, L.P. (“Second Nature”) for $75.0 million, paid with cash on hand. We determined that we do not have significant influence over Second Nature, and our investment in Second Nature has been classified as an investment in equity securities without readily determinable fair value.There were no realized or unrealized gains or losses from remeasurement of investments in equity securities under the measurement alternative for the six months ended June 30, 2025 and 2024.Fair Value MeasurementsRecurring Fair Value MeasurementsThe following tables present our financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2025 and December 31, 2024 by level within the fair value hierarchy (in thousands):June 30, 2025Level 1Level 2Total FairValueCash equivalents:Money market funds$47,917 $— $47,917 Available-for-sale investment securities:   U.S. government and agency securities— 54,088 54,088 Total$47,917