Company: APPF
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001433195-25-000105
Chunk: 15

Company: APPFOLIO INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 EndedJune 30, 2025202420252024Revenue$235,575 $197,375 $453,277 $384,805 Costs and operating expenses:Cost of revenue (exclusive of depreciation and amortization)(1)83,827 69,601 163,325 134,247 Sales and marketing(1)36,776 27,300 67,833 51,755 Research and product development(1)46,674 39,522 90,432 77,417 General and administrative(1)21,936 20,254 45,287 41,386 Depreciation and amortization5,850 4,670 12,105 9,882 Total costs and operating expenses195,063 161,347 378,982 314,687 Income from operations40,512 36,028 74,295 70,118 Other (loss) income, net(11)— 45 — Interest income, net1,466 3,476 4,419 6,468 Income before provision for income taxes41,967 39,504 78,759 76,586 Provision for income taxes5,987 9,839 11,396 8,258 Net income$35,980 $29,665 $67,363 $68,328 Net income per common share:Basic$1.00 $0.82 $1.87 $1.89 Diluted$0.99 $0.81 $1.85 $1.86 Weighted average common shares outstanding:Basic35,922 36,241 36,111 36,164 Diluted36,204 36,742 36,425 36,720 

(1) Includes stock-based compensation expense as follows:

Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Stock-based compensation expense included in costs and operating expenses:Cost of revenue (exclusive of depreciation and amortization)$1,419 $1,175 $2,706 $2,135 Sales and marketing3,045 1,703 5,893 3,213 Research and product development8,176 6,472 15,107 12,154 General and administrative5,659 5,444