Company: APPF
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001433195-25-000055
Chunk: 48

Company: APPFOLIO INC
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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, fund working capital, strategic acquisitions or business opportunities, and other general corporate purposes and execute our strategic plan. Although the 2025 Stock Repurchase Program is intended to enhance long-term stockholder value, there can be no assurance that it will do so because the trading price of our Class A common stock may decline below the levels at which we repurchased our shares and short-term stock price fluctuations could reduce the effectiveness of the 2025 Stock Repurchase Program.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The table below summarizes our repurchases of our Class A common stock during the three months ended March 31, 2025.

PeriodTotal Number of Shares Repurchased(1)Average Price Paid Per Share(2)Total Number of SharesPurchased as Part of the Publicly Announced Plans or ProgramsApproximate Dollar Value ofShares that May Yet Be Purchased Under the Plans or Programs(in thousands)(in thousands)(in millions)January 1, 2025 to January 31, 2025— $— — $— February 1, 2025 to February 28, 2025164$213.5 164 $60.8 March 1, 2025 to March 31, 2025281$215.9 281 $0.1 Total445215.05445 

(1) On February 20, 2019, our Board authorized the repurchase of up to  $100.0 million of shares of our Class A common stock pursuant to the 2019 Stock Repurchase Program. The 2019 Stock Repurchase Program had no expiration date. During the first quarter of 2025, we substantially exhausted the shares remaining available for repurchase under the 2019 Stock Repurchase Program. On April 23, 2025, our Board  authorized the repurchase of up to $300.0 million shares of our Class A common stock 

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pursuant to the 2025 Stock Repurchase Program. For more information regarding the 2019 Stock Repurchase Program and the 2025 Stock Repurchase Program, refer to Note 7, Share Repurchase Program, of our Condensed Consolidated Financial Statements and Part I, Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources" of this Quarterly Report.

(2)  Average price paid per share includes costs associated with the repurchases.

Item