Company: APPF
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001433195-25-000055
Chunk: 9

Company: APPFOLIO INC
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 1
Chunk 9
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 (214)Net Income— — — — — — — 38,663 38,663 Balance at March 31, 202422,281 $2 13,917 $2 $240,419 $(115)$(25,756)$124,643 $339,195 

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)Three Months EndedMarch 31, 20252024Cash from operating activitiesNet income$31,383 $38,663 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization6,255 5,211 Amortization of operating lease right-of-use assets501 523 Amortization of costs capitalized to obtain revenue contracts2,720 2,500 Deferred income taxes(5,541)— Stock-based compensation, including as amortized16,371 13,474 Other(917)(1,824)Changes in operating assets and liabilities:Accounts receivable(3,116)(5,470)Prepaid expenses and other assets(5,460)6,349 Accounts payable2,546 733 Operating lease liabilities(1,051)(475)Accrued expenses and other liabilities(5,226)(16,730)Net cash provided by operating activities38,465 42,954 Cash from investing activitiesPurchases of available-for-sale investments(62,302)(57,162)Proceeds from sales of available-for-sale investments102,718 — Proceeds from maturities of available-for-sale investments42,150 36,670 Purchases of property and equipment(230)(1,420)Capitalization of software development costs(636)(1,125)Cash paid in business acquisition, net of cash acquired(906)— Net cash provided by (used in) investing activities80,794 (23,037)Cash from financing activitiesProceeds from stock option exercises11 3,874 Tax withholding for net share settlement(9,078)(14,086)Purchase of common stock(95,763)— Net cash used in financing activities(104,830)(10,212)Net increase in cash, cash equivalents and restricted cash14,429 9,705 Cash