Company: APPF
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001433195-25-000142
Chunk: 17

Company: APPFOLIO INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 2025, the FASB issued ASU 2025-06, Targeted Improvements to the Accounting for Internal-Use Software, to modernize the accounting guidance for the costs to develop software for internal use. The new guidance amends the existing standard that refers to various stages of a software development project to align better with current software development methods, such as agile programming. The new guidance will be effective for calendar year-end public business entities in the 2028 annual period. The guidance can be applied on a fully prospective basis, a modified basis for in-process projects, or a full retrospective basis. We are currently evaluating the impact of this ASU on our Consolidated Financial Statements.

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 3. Investment Securities and Fair Value Measurements

Investment SecuritiesInvestment securities classified as available-for-sale consisted of the following as of September 30, 2025 and December 31, 2024 (in thousands):September 30, 2025Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueU.S. government and agency securities124,068 19 (31)124,056 Total available-for-sale investment securities$124,068 $19 $(31)$124,056 December 31, 2024Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueU.S. government and agency securities235,509 261 (25)235,745 Total available-for-sale investment securities$235,509 $261 $(25)$235,745 As of September 30, 2025, the decline in fair value below amortized cost basis was not considered other than temporary as it is more likely than not we will hold the securities until maturity or recovery of the cost basis. No allowance for credit losses for available-for-sale investment securities was recorded as of September 30, 2025 or December 31, 2024. The fair values of available-for-sale investment securities, by remaining contractual maturity, are as follows (in thousands):September 30, 2025December 31, 2024Amortized CostEstimated Fair ValueAmortized CostEstimated Fair ValueDue in one year or less$124,068 $124,056 $235,509 $235,745 Total available-for-sale investment securities$124,068 $124,056 $235,509 $235,745 During the nine months ended September 30,