Company: APPF
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001433195-25-000105
Chunk: 18

Company: APPFOLIO INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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— — 38,663 38,663 Balance at March 31, 202422,281 $2 13,917 $2 $240,419 $(115)$(25,756)$124,643 $339,195 Exercise of stock options3 — — — 25 — — — 25 Stock based compensation— — — — 15,032 — — — 15,032 Vesting of restricted stock units, net of shares withheld for taxes71 — — — (12,436)— — — (12,436)Conversion of Class B common stock to Class A common stock644 — (644)— — — — — — Other comprehensive loss— — — — — (69)— — (69)Net Income— — — — — — — 29,665 29,665 Balance at June 30, 202422,999 $2 13,273 $2 $243,040 $(184)$(25,756)$154,308 $371,412 

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

7

APPFOLIO, INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)(in thousands)Six Months EndedJune 30, 20252024Cash from operating activitiesNet income$67,363 $68,328 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization12,105 9,881 Amortization of operating lease right-of-use assets1,008 1,053 Amortization of costs capitalized to obtain revenue contracts5,419 4,985 Deferred income taxes(13,185)— Stock-based compensation, including as amortized34,670 28,269 Other(1,048)(4,005)Changes in operating assets and liabilities:Accounts receivable(8,197)(4,982)Prepaid expenses and other assets(11,426)172 Accounts payable852 437 Operating lease liabilities(2,102)(1,418)Accrued expenses and other liabilities5,649 (8,897)Net cash provided by operating activities91,108 93,