Company: APPF
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001433195-25-000105
Chunk: 14

Company: APPFOLIO INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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PART I. FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements

2

APPFOLIO, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

(in thousands)

 June 30,2025December 31,2024AssetsCurrent assetsCash and cash equivalents$73,478 $42,504 Investment securities—current54,088 235,745 Accounts receivable, net32,543 24,346 Prepaid expenses and other current assets37,026 32,807 Total current assets197,135 335,402 Property and equipment, net22,641 24,483 Operating lease right-of-use assets16,464 17,472 Capitalized software development costs, net12,414 15,429 Goodwill96,410 96,410 Intangible assets, net43,942 49,057 Deferred income taxes90,095 76,910 Long-term investments77,033 2,033 Other long-term assets11,269 9,482 Total assets$567,403 $626,678 Liabilities and Stockholders’ Equity Current liabilitiesAccounts payable$3,254 $2,378 Accrued employee expenses25,784 30,157 Accrued expenses18,103 14,658 Other current liabilities20,448 16,087 Total current liabilities67,589 63,280 Operating lease liabilities35,180 37,476 Other liabilities8,988 6,632 Total liabilities111,757 107,388 Commitments and contingencies (Note 6)Stockholders’ equity:Class A common stock2 2 Class B common stock2 2 Additional paid-in capital270,782 254,821 Accumulated other comprehensive (loss) Income(71)173 Treasury stock(172,480)(25,756)Retained earnings357,411 290,048 Total stockholders’ equity455,646 519,290 Total liabilities and stockholders’ equity$567,403 $626,678 

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

3

APPFOLIO, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 

(UNAUDITED)

(in thousands, except per share amounts)

 Three Months EndedJune 30,Six Months