Company: APPF
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001433195-25-000142
Chunk: 50

Company: APPFOLIO INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 50
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 expenses, immediate expensing of certain capital expenditures, and other changes to the U.S. taxation of profits derived from foreign operations. We believe the impact of the relevant OBBBA provisions to our income tax expense is not material and are currently expecting a favorable impact on our cash flows. We will continue to monitor and assess the impact of OBBBA on our Condensed Consolidated Financial Statements.

 9. Revenue and Other Information

The following table presents our revenue categories for the three and nine months ended September 30, 2025 and 2024 (in thousands):  Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Core solutions$53,752 $46,030 $155,738 $132,974 Value Added Services192,092 157,726 536,943 451,677 Other3,509 1,977 9,949 5,887 Total revenue$249,353 $205,733 $702,630 $590,538 Our revenue is generated primarily from customers in the United States. Our property and equipment is primarily located in the United States.

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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 

The following discussion and analysis of our financial condition, results of operations and liquidity should be read together with our Condensed Consolidated Financial Statements and the related notes included elsewhere in this Quarterly Report and in our Annual Report. 

Overview

We are a technology leader powering the future of the real estate industry. We provide a cloud-based platform on which our customers operate their businesses. We help our customers navigate an increasingly interconnected and growing network of stakeholders in their business ecosystems, including property managers, property investors, potential residents, residents, and vendors. We also provide key functionality related to critical transactions across the real estate lifecycle, including screening potential residents, sending and receiving payments, and providing insurance-related risk mitigation services. Our services enable our customers to connect communities, increase operational efficiency, deliver exceptional customer experiences, and improve financial and operational performance.

Property management units under management. We believe that our ability to increase our number of property management units under management is an indicator of our market penetration, growth, and potential future business opportunities. We define property management units under management as active or committed units under management at the period end date. We had 9.1 million and 8.5 million property management units under management as of September 30, 2025 and