Company: APPF
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001433195-25-000142
Chunk: 71

Company: APPFOLIO INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 71
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3 million increase in personnel-related costs, including stock-based and performance-based compensation, net of capitalized software development costs driven by headcount growth, for the respective three and nine-month periods.

20

We expect research and product development expenses for the year ending December 31, 2025 to stay relatively flat as a percentage of revenue compared to the year ended December 31, 2024.

General and Administrative Three Months EndedSeptember 30,ChangeNine Months EndedSeptember 30,Change 20252024Amount%20252024Amount% (dollars in thousands)General and administrative$27,446 $21,139 $6,307 30 %$72,733 $62,525 $10,208 16 %Percentage of revenue11.0 %10.3 %10.4 %10.6 %Stock-based compensation, included above$7,033 $5,367 $1,666 31 %$17,998 $16,133 $1,865 12 %Percentage of revenue2.8 %2.6 %2.6 %2.7 %

General and administrative expense increased for the three and nine months ended September 30, 2025, compared to the same periods in the prior year. The increase was primarily due to a $7.4 million and $13.4 million increase in personnel-related costs, including stock-based and performance-based compensation, driven by headcount growth, for the respective three and nine-month periods.

We expect general and administrative expenses for the year ending December 31, 2025 to stay relatively flat as a percentage of revenue compared to the year ended December 31, 2024.

Depreciation and Amortization

 Three Months EndedSeptember 30,ChangeNine Months EndedSeptember 30,Change 20252024Amount%20252024Amount% (dollars in thousands)Depreciation and amortization$5,436 $4,327 $1,109 26 %$17,541 $14,209 $3,332 23 %Percentage of revenue2.2 %2.1 %2.5 %2.4 %

Depreciation and amortization expense for the three and nine months ended September 30, 2025 increased, compared to the same periods in the prior year, primarily due to amortization of the intangible assets recognized