Company: APPF
Filing Date: 2025-04-24
Form Type: 10-Q
Source: 0001433195-25-000055
Chunk: 12

Company: APPFOLIO INC
Filing Date: 2025-04-24
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 and 2024, respectively. For the three months ended March 31, 2025 and 2024, no impairments were identified in relation to the costs capitalized for the periods presented.Net Income per Common ShareNet income per common share was the same for shares of our Class A and Class B common stock because they are entitled to the same liquidation and dividend rights and are therefore combined in the table below. The following table sets forth the computation of basic and diluted net income per common share (in thousands): Three Months EndedMarch 31, 20252024Basic net income per share:NumeratorNet income$31,383 $38,663 Less: undistributed earnings to participating securities— 5 Net income attributable to common stockholders$31,383 $38,658 DenominatorWeighted average common shares outstanding36,302 36,092 Less: Weighted average unvested restricted shares subject to repurchase— 5 Weighted average common shares outstanding; basic 36,302 36,087 Net income per common share; basic$0.86 $1.07 Diluted net income per share:NumeratorNet income attributable to common stockholders$31,383 $38,658 DenominatorWeighted average common shares outstanding; basic36,302 36,087 Add:  Weighted average dilutive options outstanding39 108 Add:  Weighted average dilutive restricted stock units outstanding307 479 Weighted average common shares outstanding; diluted36,648 36,674 Net income per common share; diluted$0.86 $1.05 Potentially dilutive securities that are not included in the calculation of diluted net income per share because doing so would be antidilutive are as follows (in thousands): Three Months EndedMarch 31, 20252024Unvested restricted stock awards— 4 Restricted stock units45 170 Total potentially dilutive securities45 174 

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 3. Investment Securities and Fair Value Measurements

Investment SecuritiesInvestment securities classified as available-for-sale consisted of the following as of March 31, 2025 and December 31, 2024 (in thousands):March 31, 2025Amortized CostGross Unrealized GainsGross Unrealized LossesEstimated Fair ValueU.S. government and agency securities153,853 53 (25)153,881 Total available-for-sale investment securities$