Company: APPF
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001433195-25-000105
Chunk: 75

Company: APPFOLIO INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 75
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 million increase in software license fees, for the respective three and six-month periods.

We expect research and product development expenses for the year ending December 31, 2025 to stay relatively flat as a percentage of revenue compared to the year ended December 31, 2024.

General and Administrative Three Months EndedJune 30,ChangeSix Months EndedJune 30,Change 20252024Amount%20252024Amount% (dollars in thousands)General and administrative$21,936 $20,254 $1,682 8 %$45,287 $41,386 $3,901 9 %Percentage of revenue9.3 %10.3 %10.0 %10.8 %Stock-based compensation, included above$5,659 $5,444 $215 4 %$10,964 $10,766 $198 2 %Percentage of revenue2.4 %2.8 %2.4 %2.8 %

General and administrative expense increased for the three and six months ended June 30, 2025, compared to the same periods in the prior year. The increase was primarily due to a $3.2 million and $6.0 million increase in personnel-related costs, including stock-based and performance-based compensation, driven by headcount growth, for the respective three and six-month periods.

20

We expect general and administrative expenses for the year ending December 31, 2025 to stay relatively flat as a percentage of revenue compared to the year ended December 31, 2024.

Depreciation and Amortization

 Three Months EndedJune 30,ChangeSix Months EndedJune 30,Change 20252024Amount%20252024Amount% (dollars in thousands)Depreciation and amortization$5,850 $4,670 $1,180 25 %$12,105 $9,882 $2,223 22 %Percentage of revenue2.5 %2.4 %2.7 %2.6 %

Depreciation and amortization expense for the three and six months ended June 30, 2025 increased, compared to the same periods in the prior year, primarily due to amortization of the intangible assets recognized from the acquisition of Move EZ, Inc. in the fourth quarter of 2024.

We expect depreciation and amortization expenses