Company: APPF
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001433195-25-000142
Chunk: 6

Company: APPFOLIO INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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PART I. FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

APPFOLIO, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(in thousands)

 September 30,2025December 31,2024AssetsCurrent assetsCash and cash equivalents$76,093 $42,504 Investment securities—current124,056 235,745 Accounts receivable, net34,346 24,346 Prepaid expenses and other current assets68,269 32,807 Total current assets302,764 335,402 Property and equipment, net22,901 24,483 Operating lease right-of-use assets16,620 17,472 Capitalized software development costs, net11,679 15,429 Goodwill96,410 96,410 Intangible assets, net41,384 49,057 Deferred income taxes59,792 76,910 Long-term investments77,033 2,033 Other long-term assets11,882 9,482 Total assets$640,465 $626,678 Liabilities and Stockholders’ Equity Current liabilitiesAccounts payable$4,112 $2,378 Accrued employee expenses52,321 30,157 Accrued expenses19,224 14,658 Other current liabilities24,775 16,087 Total current liabilities100,432 63,280 Operating lease liabilities34,533 37,476 Other liabilities6,632 6,632 Total liabilities141,597 107,388 Commitments and contingencies (Note 6)Stockholders’ equity:Class A common stock3 2 Class B common stock1 2 Additional paid-in capital280,361 254,821 Accumulated other comprehensive (loss) Income(74)173 Treasury stock(172,480)(25,756)Retained earnings391,057 290,048 Total stockholders’ equity498,868 519,290 Total liabilities and stockholders’ equity$640,465 $626,678 

The accompanying Notes to Condensed Consolidated Financial Statements are an integral part of these statements.

2

APPFOLIO, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 

(UNAUDITED)

(in thousands, except per share amounts)

 Three Months EndedSeptember 30,Nine Months EndedSeptember