Company: APPF
Filing Date: 2025-02-06
Form Type: 10-K
Source: 0001433195-25-000013
Chunk: 81

Company: APPFOLIO INC
Filing Date: 2025-02-06
Form: 10-K
Item: Item 8
Chunk 81
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 confirming, on a sample basis, outstanding customer invoice balances as of year-end and, and for confirmations not returned, obtaining and inspecting source documents, such as executed contracts, invoices, and subsequent cash receipts.

/s/ PricewaterhouseCoopers LLP 

Los Angeles, California

February 6, 2025

We have served as the Company’s auditor since 2012.

34

APPFOLIO, INC.

CONSOLIDATED BALANCE SHEETS 

(in thousands, except par values)

December 31, 20242023AssetsCurrent assetsCash and cash equivalents$42,504 $49,509 Investment securities—current235,745 162,196 Accounts receivable, net24,346 20,709 Prepaid expenses and other current assets32,807 39,943 Total current assets335,402 272,357 Property and equipment, net24,483 28,362 Operating lease right-of-use assets17,472 19,285 Capitalized software development costs, net15,429 21,562 Goodwill96,410 56,060 Intangible assets, net49,057 2,357 Deferred income taxes76,910 — Other long-term assets11,515 8,906 Total assets$626,678 $408,889 Liabilities and Stockholders’ EquityCurrent liabilitiesAccounts payable$2,378 $1,141 Accrued employee expenses30,157 35,567 Accrued expenses14,658 21,723 Other current liabilities16,087 11,335 Total current liabilities63,280 69,766 Operating lease liabilities37,476 41,114 Deferred tax liabilities— 697 Other liabilities6,632 — Total liabilities107,388 111,577 Commitments and contingencies (Note 12)Stockholders’ equity:Preferred stock, $0.0001 par value, 25,000 shares authorized and no shares issued and outstanding as of December 31, 2024 and December 31, 2023— — Class A common stock, $0.0001 par value, 250,000 shares authorized as of December 31, 2024 and December 31, 2023; 23,660 and 22,168 shares issued as of December 31, 2024 and December 31, 2023, respectively; 23,