Company: APPF
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001433195-25-000105
Chunk: 45

Company: APPFOLIO INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 45
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 As of June 30, 2025, the decline in fair value below amortized cost basis was not considered other than temporary as it is more likely than not we will hold the securities until maturity or recovery of the cost basis. No allowance for credit losses for available-for-sale investment securities was recorded as of June 30, 2025 or December 31, 2024. The fair values of available-for-sale investment securities, by remaining contractual maturity, are as follows (in thousands):June 30, 2025December 31, 2024Amortized CostEstimated Fair ValueAmortized CostEstimated Fair ValueDue in one year or less$54,098 $54,088 $235,509 $235,745 Total available-for-sale investment securities$54,098 $54,088 $235,509 $235,745 During the six months ended June 30, 2025 and 2024, we had sales and maturities of investment securities, as follows (in thousands):Six Months Ended June 30, 2025Gross Realized GainsGross Realized LossesGross Proceeds from Sales Gross Proceeds from MaturitiesU.S. government and agency securities$94 $(49)$202,662 $43,820 Total$94 $(49)$202,662 $43,820 Six Months Ended June 30, 2024Gross Realized GainsGross Realized LossesGross Proceeds from SalesGross Proceeds from MaturitiesU.S. government and agency securities— — — 94,455 Total$— $— $— $94,455 The tables above do not include our strategic investments of non-marketable equity investments in privately-held companies, which are recorded in long-term investments in our Condensed Consolidated Balance Sheets. These strategic investments consist of the following as of June 30, 2025 and December 31, 2024 (in thousands):

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June 30,2025December 31,2024Second Nature$75,000 $— Others2,033 2,033     Total long-term investments$77,033 $2,033 In April 2025, we purchased a minority, non-controlling equity interest in Second Nature Holdings, L.P. (“Second Nature”) for $75.0 million, paid with cash on hand. We determined that