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

Company: APPFOLIO INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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$54,088 $102,005 December 31, 2024Level 1Level 2Total FairValueCash equivalents:Money market funds$25,167 $— $25,167 Available-for-sale investment securities:U.S. government and agency securities— 235,745 235,745 Total$25,167 $235,745 $260,912 The carrying amounts of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities approximate their fair value because of the short maturity of these items.Fair value for our Level 1 investment securities is based on market prices for identical assets. Our Level 2 securities were priced by a pricing vendor. The pricing vendor utilizes the most recent observable market information in pricing these securities or, if specific prices are not available for these securities, other observable inputs like market transactions involving comparable securities are used.Strategic Investments Measured and Recorded at Fair Value on a Non-Recurring BasisStrategic investments primarily include equity investments in privately-held companies, which do not have a readily determinable fair value. Strategic investments are classified as Level 3 in the fair value hierarchy, as their nonrecurring fair value measurements may include observable and unobservable inputs. As of June 30, 2025 and December 31, 2024, the balance of strategic investments was $77.0 million and $2.0 million, respectively.

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 4. Accrued Employee Expenses

Accrued employee expenses consisted of the following (in thousands): June 30,2025December 31,2024Accrued bonuses$14,745 $17,092 Accrued payroll and other11,039 13,065     Total accrued employee expenses$25,784 $30,157 

5. Other Current Liabilities

Other Current Liabilities consisted of the following (in thousands): June 30,2025December 31,2024Unearned premium liabilities$6,140 $5,455 Insurance reserves4,741 3,908 Operating lease liabilities-current4,466 4,273 Other5,101 2,451     Total other current liabilities$20,448 $16,087 Unearned premium liabilities are the refundable portion of commissions received in connection with the sale of renters insurance policies to residents through AppFolio Insurance Services, Inc., our wholly owned subsidiary. In the event a resident cancels their renters insurance policy