Company: APPF
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001433195-25-000142
Chunk: 11

Company: APPFOLIO INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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 16,315 Vesting of restricted stock units, net of shares withheld for taxes57 — — — (8,579)— — — (8,579)Conversion of Class B common stock to Class A common stock20 — (20)— — — — — — Other comprehensive income—————659——659Net Income———————33,00633,006Balance at September 30, 202423,079 $2 13,253 $2 $250,790 $475 $(25,756)$187,314 $412,827 

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

6

APPFOLIO, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)(in thousands)Nine Months EndedSeptember 30, 20252024Cash from operating activitiesNet income$101,009 $101,334 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization17,541 14,207 Amortization of operating lease right-of-use assets1,525 1,541 Amortization of costs capitalized to obtain revenue contracts8,187 7,471 Deferred income taxes17,118 — Stock-based compensation, including as amortized55,463 44,304 Other(1,281)(6,146)Changes in operating assets and liabilities:Accounts receivable(10,000)(4,872)Prepaid expenses and other assets(15,677)(6,360)Accounts payable1,746 (291)Operating lease liabilities(3,177)(3,196)Accrued expenses and other liabilities4,661 3,601 Net cash provided by operating activities177,115 151,593 Cash from investing activitiesPurchases of available-for-sale investments(166,575)(265,319)Proceeds from sales of available-for-sale investments202,662 — Proceeds from maturities of available-for-sale investments76,620 163,755 Purchases of property and equipment(1,841)(1,821)Capitalization of software development costs(2,414)(4,112)Purchases of long-term investments(75,000)— Cash paid in business acquisition, net of cash acquired(906)— Net cash provided by (used in) investing