Company: APPF
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001433195-25-000055
Chunk: 6

Company: APPFOLIO INC
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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PART I. FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

2

APPFOLIO, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(in thousands)

 March 31,2025December 31,2024AssetsCurrent assetsCash and cash equivalents$56,933 $42,504 Investment securities—current153,881 235,745 Accounts receivable, net27,462 24,346 Prepaid expenses and other current assets33,738 32,807 Total current assets272,014 335,402 Property and equipment, net23,413 24,483 Operating lease right-of-use assets16,971 17,472 Capitalized software development costs, net13,649 15,429 Goodwill96,410 96,410 Intangible assets, net46,500 49,057 Deferred income taxes82,451 76,910 Other long-term assets13,325 11,515 Total assets$564,733 $626,678 Liabilities and Stockholders’ Equity Current liabilitiesAccounts payable$4,934 $2,378 Accrued employee expenses21,775 30,157 Accrued expenses15,724 14,658 Other current liabilities16,173 16,087 Total current liabilities58,606 63,280 Operating lease liabilities36,328 37,476 Other liabilities7,680 6,632 Total liabilities102,614 107,388 Commitments and contingencies (Note 6)Stockholders’ equity:Class A common stock2 2 Class B common stock2 2 Additional paid-in capital262,237 254,821 Accumulated other comprehensive (loss) Income(34)173 Treasury stock(121,519)(25,756)Retained earnings321,431 290,048 Total stockholders’ equity462,119 519,290 Total liabilities and stockholders’ equity$564,733 $626,678 

The accompanying Notes to Condensed Consolidated Financial Statements are an integral part of these statements.

3

APPFOLIO, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 

(UNAUDITED)

(in thousands, except per share amounts)

 Three Months EndedMarch 31, 20252024Revenue$217,702 $187,