Company: APPF
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001433195-25-000142
Chunk: 7

Company: APPFOLIO INC
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 7
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 30, 2025202420252024Revenue$249,353 $205,733 $702,630 $590,538 Costs and operating expenses:Cost of revenue (exclusive of depreciation and amortization)(1)91,476 71,631 254,801 205,878 Sales and marketing(1)35,912 25,406 103,745 77,161 Research and product development(1)54,037 40,662 144,469 118,079 General and administrative(1)27,446 21,139 72,733 62,525 Depreciation and amortization5,436 4,327 17,541 14,209 Total costs and operating expenses214,307 163,165 593,289 477,852 Income from operations35,046 42,568 109,341 112,686 Other (loss) income, net(4)— 41 — Interest income, net1,690 4,014 6,109 10,482 Income before provision for income taxes36,732 46,582 115,491 123,168 Provision for income taxes3,086 13,576 14,482 21,834 Net income$33,646 $33,006 $101,009 $101,334 Net income per common share:Basic$0.94 $0.91 $2.80 $2.80 Diluted$0.93 $0.90 $2.78 $2.76 Weighted average common shares outstanding:Basic35,889 36,306 36,036 36,211 Diluted36,259 36,756 36,368 36,752 

(1) Includes stock-based compensation expense as follows:

Three Months EndedSeptember 30,Nine Months EndedSeptember 30,2025202420252024Stock-based compensation expense included in costs and operating expenses:Cost of revenue (exclusive of depreciation and amortization)$1,241 $1,126 $3,947 $3,261 Sales and marketing3,443 2,071 9,336 5,284 Research and product development9,076 7,471 24,182 19,625 General and administrative7,033 5,367 17